HSIL is eyeing an 80-100 percent revenue growth in its fledgeling consumer products division a year from now, a top official said today.
Hindustan Sanitaryware & Industries Ltd (HSIL), a leader in sanitaryware player in the country, is eyeing an 80-100 percent revenue growth in its fledgeling consumer products division a year from now, a top official said today.
HSIL vice-chairman and managing director Sandip Somany said the consumer products vertical, which took off over three years ago presently contributes 7-8 percent to the company's overall turnover of Rs 2,200 crore, as on March 31, 2017.
"In a year, as a company, we are expecting to grow by 20-25 percent. Of this, the biggest growth of 80-100 percent will be from the consumer products vertical," Somany said.
Building materials and packaging are the other two business verticals of HSIL.
He was speaking to reporters here at the launch of Oceanus 3000 -- HSIL's latest RO water purifier under the 'Moonbow' brand. The water purifier will retail exclusively on e-commerce platform Flipkart for the first 45 days for Rs 24,990.
Somany said that the market size for water purifiers is currently pegged at Rs 4,000 crore to Rs 4,500 crore and is poised to register a compounded growth rate of 20 percent till 2024.
HSIL intends to make the most from this by breaking into the league of top three players in the category.
Elaborating on the e-commerce sales channel, Somany said HSIL is eyeing 5-6 percent of its sales through this platform.The company entered the water purifiers business in 2016 and the products are manufactured indigenously at its Uttaranchal plant.