HSIL is aiming to achieve revenue of over Rs 500 crore from its consumer products business in the next financial year.
Leading sanitaryware firm HSIL is aiming to achieve revenue of over Rs 500 crore from its consumer products business in the next financial year as it mulls expansion of this vertical going forward.
The consumer products division had posted revenue of Rs 208 crore in 2017-18 and is expecting to clock revenue of around Rs 375 crore for the current fiscal.
“We are aiming to cross revenue of Rs 500 crore for the fiscal year 2019-20 as we expand our reach,” HSIL Consumer Business President and Evok Retail CEO Rakesh Kaul told PTI.
The company’s consumer products division has been growing at 70 per cent compound annual growth rate (CAGR) since it was established in 2015 and currently has seven product categories, he added.
The seven categories under consumer business are water purifiers, air purifiers, water heaters, air coolers, kitchen appliances, kitchen sinks and vents.
Out of the seven product categories, “water purification will be the largest category going forward in the entire appliances range,” Kaul said.
Water purifiers, kitchen appliances and air coolers will be the main drivers for growth for the company in the next fiscal, he added.
Currently the consumer products business has presence in over 1,400 towns across the country and have 1,100 distributors, more than 8,500 retailers across the country and the company is taking steps to increase this, Kaul said.