HSIL Q4 net profit up multi-fold
Company’s total income went up by 36.3% to Rs 638 crore year-on-year basis, compared to Rs 468 crore during the corresponding quarter of the previous year
Hyderabad: HSIL reported a net profit of Rs 33 crore in the fourth quarter ending March 31, 2021, as compared to Rs 3 crore in the same quarter last year. The company’s total income went up 36.3 per cent to Rs 638 crore year-on-year (Y-o-Y) basis, compared to Rs 468 crore in the corresponding quarter of the previous year.
For the fiscal 2020-21 (FY21), the company’s total income stood at Rs 1,881 crore, while its adjusted net profit stood at Rs 73 crore with margins of 3.9 per cent.
During the fourth quarter, the Packaging Products Division reported revenue from operations of Rs 418 crore, contributing 66 per cent to the total revenues with a growth of 31.5 per cent on Y-o-Y basis. Building Products Division delivered revenue from operations of Rs 216 crore, registering a growth of 59.7 per cent.
The Packaging Products Division witnessed increased demand for glass bottles from multiple user segments thereby driving better volumes.
Commenting on the quarterly results, Sandip Somany, vice chairman and managing director, HSIL Limited said, “The sales and profit growth also reflects the resilience of our business model. During the year, we focused on our costs and efficiencies to deliver a robust performance on a quarter-on-quarter basis. The improvement in margins over the last year clearly demonstrates our abilities to work and deliver under uncertain times.”
“For our future growth, we are investing in a greenfield project for specialty glass packaging and increasing our plastic pipes and fittings plant capacity. With a clear strategic direction, HSIL is well positioned to drive profitable growth in the coming years and create value for all stakeholders,” he added.
HSIL manufactures and markets various packaging products, including glass containers and Polyethylene Terephthalate (PET) bottles, products & security caps, and closures. The Packaging Products Division has six plants in India, located across Telangana, Uttarakhand, and Karnataka.
The company’s Building Products Division primarily comprises the manufacturing of sanitaryware, faucets, and plastic pipes and fittings and has five plants spread across Telangana, Haryana and Rajasthan.
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