HIL sustains momemtum, delivers strong financial performance with significant improvement
National, October 25, 2018: HIL Limited, one of the India's largest manufacturers and sellers of fibre cement roofing and green building products, today announced the financial results for the quarter and 6 months ended September 30, 2018. Part of the USD 1.8 billion CK Birla Group, the company’s revenues for the current quarter stood at Rs. 307 crore as against Rs. 256 crore for the same period of last year showing growth of 20%. For the first 6 months of current year, revenues stood at Rs. 804 crore as against Rs. 661 crore for the same period of last year. Please note that revenue shown here is net of duties and taxes on sale of goods for comparison purpose. Sales driven by building solutions delivered continuous growth quarter on quarter. Strong growth continues to come from Plumbing Solutions with 130% year-on-year growth during Q2 FY’19 and 139% year-on-year growth during first half of the year. We are seeing traction in Birla Aerocon range given the emphasis on solutions based approach.
We have seen a lot of positive sentiments from the market with our aquistion of Parador and consolidating our positioning as global building material manufacturer
Business performance highlights:
For the first 6 months of the year, Profit before Tax improved by 71% year-on-year to Rs. 120 crore. In Q2 FY’19 Profit before Tax improved by 185% year-on-year to Rs. 42 crore
This performance has been supported by growth in sales across board, where initiatives taken to drive higher productivities from operations driving earnings and other non-operative income
Emphasis on enhancing financial parameters have resulted in expansion of pre-tax earnings
Contained borrowings and optimal working capital management will allow transmission of growth realised into higher net profits going forward
Mr. Dhirup Roy Choudhary, Managing Director, HIL Limited said, “HIL’s sustained growth is in line with our strategy on strengthening our market leadership by developing advanced and high-quality products for the building materials segment and the momentum we are creating in plumbing solutions by way of expanding our product portfolio. We used the quarter in modernising and streamlining our products and we look at sustaining this momentum to maintain our edge and profitability.”
**Please note that revenue mentioned in the note is net of duties and taxes on sale of goods for comparison purpose.