New Delhi: Hindustan Sanitaryware and Industries (HSIL), the market leader in the Indian sanitaryware industry, has reported an increase of 19.6 per cent in sales at Rs 253.29 crore (Rs 211.70 crore) for the year 2002-03.
The company has posted an operating profit of Rs 42.87 crore for the year 2002-03, up 10.5 per cent compared to Rs 38.78 crore in 2001-02. The board of directors of HSIL has recommended a dividend of 15 per cent on equity shares.
The strong surge in sales is largely attributed to a host of new product launches by HSIL during the last one year. The company has aggressively expanded its sales and distribution network and undertaken several initiatives on the after-sales service front.
HSIL has also witnessed a strong growth in exports. Last year, HSIL became the first Indian company to receive the Australian Watermark Certification, giving the company access to the Australian market as well.
Says HSIL joint managing director Sandip Somany: "During the last year we have consolidated our market leadership position with constant innovation on the product front. With the introduction of new products from Hindware coupled with offerings from our international partners HSIL's 'complete bathroom solutions' strategy is in place. The strong surge in sales last year clearly indicates that customer response has been very positive. Exports on the other hand will continue to be another focus area and we hope to do well on this front also."