HIL Limited, the flagship company of the $2.4 billion diversified CK Birla group, has transformed itself from being a predominantly asbestos products company a decade ago to an integrated green building materials company.

The Hyderabad-based company, which had embarked on rapid expansion and diversification into new business areas, including pipes and tiles, the latter through the acquisition of Parador of Germany, has helped grow its business from about ₹1,000-3,000 crore in 2020-2021 and it is now looking at becoming a $1 billion company by 2025-2026. Dhirup Roy Choudhary, MD & CEO, HIL Ltd, said “HIL is debt-free and does not have any long-term interest bearing loans. The strategic initiatives and business transformation process we embarked on few years ago has helped transform it to an integrated green building materials company.”

“Having created a strong base across our various business verticals, we are now looking at about 17-20 per cent growth over the next 4-5 years to become a ₹7,000 crore company,” Choudhary told BusinessLine .

“In the past four years, the company has constantly aligned its organational objectives towards becoming a one stop building materials solutions provider and plans more products including gypsum plaster, water tanks and teflon products,” he explained.

“The Asbestos business, which was contributing 80 per cent of revenue has now come down to 30 per cent, with rest of the 70 per cent from non-asbestos business,” he said.

“The Parador business has catapulted our growth trajectory, provided a global footprint across 80-plus countries. We expect to see this contributing $350 million to overall business by 2025,” he said.

Established in 1946, HIL has 22 manufacturing facilities in India, and 2 manufacturing sites in Germany and Austria. While expanding some plants and optimising production at existing sites, it is in the process of setting up another building materials plant in Odisha with an investment of ₹80 crore.

“ HIL diversified into vast range of products that are environmentally viable and conducive by redefining itself as a one stop end to end building solutions provider,” he said.

While Roofing Solutions has been one of the biggest contributors since decades, the growth of polymer solutions, building solutions and flooring Solutions along with other newer opportunities, has transformed it into a greener company.