HSIL Ltd, manufacturer of sanitary ware products, on Wednesday said it is targeting 15-17 per cent revenue growth in the current fiscal.

Last financial year, the company had reported a revenue of ₹1,850 crore.

RK Somany, Chairman and Managing Director, HSIL, told BusinessLine the company had recently completed a project to manufacture Brass Chrome faucets at Bhiwandi, Rajasthan, with a capacity of 2.5 million pieces a year.

“The market for sanitaryware products continues to be buoyant and we expect to close this financial year with a growth of about 15-17 per cent over last year,” he said.

The company has a manufacturing capacity of 3.8 million pieces a year across two plants — one in Haryana and the other in Telangana.

Both plants are functioning at near full capacity. “We are looking at setting up another plant in Gujarat in two years with a capacity to manufacture 1.2 million pieces and with an outlay of about ₹100 crore. The expansion at existing locations will depend upon market demand,” he said.

Somany was in Hyderabad to inaugurate two new brand Hindware galleries, taking their number to 105 such stores across the country.

Wide choice These Hindware galleries have been positioned as one-stop shop for retailing bathroom products.

These direct dealer stores offer right environment and wide choice for architects, interior designers and business-to-business buyers.

Somany added: “India is among leading sanitaryware markets in South Asia’s rapidly growing market.

“It is a lucrative market for premium products with value conscious consumers.

“The HSIL network of over 1,200 retail outlets in the country provides the customers the right place to shop.”

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