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Hindware arm targets 1,000 crore biz
HSIL Limited, a sanitaryware company and makers of Hindware on Wednesday said Truflo, its plastic pipes and fittings business has reported sales of over Rs 130 crore in FY 2018-19.
Hyderabad: HSIL Limited, a sanitaryware company and makers of Hindware on Wednesday said Truflo, its plastic pipes and fittings business has reported sales of over Rs 130 crore in FY 2018-19. The company is looking to double these sales to garner Rs 250 to Rs 280 crore of business in FY20 and Rs 1,000 crore by 2022.
Truflo in August 2018 commissioned its manufacturing facility in Sangareddy, Telangana at an investment of Rs 180 crore. From a production capacity of 14,000 metric tonne, the unit has been expanded to 30,000 MT in FY19. The company plans to invest further Rs 150 crore towards the expansion of its current facility to fulfill 60,000 metric tonne of capacity in the next two to three-year period.
With this production capacity, the brand targets to reach sales of Rs 1,000 crore by 2022. The company also intends to add on 150 new jobs to the current headcount of 170 in the facility. Rajesh Pajnoo, president, Pipes Division, HSIL Ltd, said: "We are keen on expanding our footprint across the country.
Truflo has a widespread distribution network that goes beyond 135 distributors and 14,000 retail touch points. Also, we plan to commence exports of our nearly 1,200 SKU's to the SAARC region in the third quarter of FY 19-20." He further said that post commencement of commercial production i.e., in nine months, the pipes business witnessed Rs 130 crore sales, in which 15 to 20 per cent has been contributed by TS.
