Over the past seven decades, HIL has evolved as a company focused on realizing opportunities in the $126 billion Indian building material industry. Over time HIL has learnt to continuously innovate its product offerings, leverage technological advancements and be prepared to accommodate the changing needs of our customers and keep pace with a very dynamic business scenario. The consistent growth of our building materials business is a testament to HIL''s resilience and ability to continuously reinvent itself and adapt to the challenges posed by a rapidly evolving business environment.
It''s my pleasure to share with you that amidst several headwinds, FY2019 has proved to be another good year. HIL has not only embraced new tools, techniques and opportunities without compromising on customer satisfaction and employee engagement. This has enabled HIL to grow and deliver strong performance on many fronts including achieving record revenues and profit in the past financial year.
With the acquisition of Parador, the German flooring company, HIL commenced its global journey towards becoming a one-stop shop for all Building Material needs. Amidst various accolades, your MD & CEO, Dhirup Roy Choudhary was recognized by the Economic Times with The Most Promising Business Leader of Asia Award” in 2018.
As a company, HIL is dedicated to endorsing and upholding the highest standards of governance and have adopted and implemented appropriate structures and policies to ensure the same. I strongly believe that these robust values and practices will continue to drive HIL''s sustainable growth and make an impact to the societal growth at large.
Moving forward, I am confident that we will continue to uphold this spirit, break records, and continue to instill confidence among our stakeholders. HIL enjoys a strong presence in the industry and is capable of becoming a market leader and trendsetter in this dynamic market. The energy, spirit and adaptive approach we''ve brought, augmented by the resolute commitment and efficiency of our employees and channel partners, will certainly help us maintain our leadership position and grow our global presence in coming years.
Thank you to all of you, our shareholders, for your trust and confidence in HIL. Your support goes a long way in inspiring us to deliver business excellence and a strong financial performance.