Hindware Home Innovation - Annual Report excerpts
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We delivered yet another year of strong performance, reporting a consolidated revenue of INR 2,294 crore, a growth of 29% over the previous year. EBITDA stood at INR 204 crore, having grown 27% from last year and PAT (after considering JV results) stood at INR 202 crore (including exception income), registering a 268% y-o-y growth
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Our addressable market has grown by more than 10X, from INR 4,000 crore in 2010 to the current INR 50,000 crore
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The Building Products Business, which includes Bath Products and Plastic Pipes and Fittings businesses, delivered a robust performance. In FY 2021-22, revenue for the segment stood at INR 1,795 crore, registering a growth of 42%
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The Plastic Pipes and Fittings business, on a standalone basis, reported strong revenue and volume growth, retaining its position of being the fastest growing brand in the country in this segment. The business has grown from INR 250 crore in FY 2019-20 to INR 606 crore in FY 2021- 22, driven by our strong fundamentals
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Groupe Atlantic France, a €2.2 billion Euro Company with a dominant presence in manufacturing and distribution of eco-friendly heating products and hot-water solutions, invested INR 68.3 crore for a 50% stake in Hintastica Private Limited (water heating solutions business), a subsidiary of Hindware Home Innovation Limited. The state-of-the-art manufacturing facility of Hintastica Private Limited is on track and is expected to be operational by FY 2022-23
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Our capacity expansion at the existing Plastic Pipes and Fittings plant in Telangana is expected to be completed before December 2022. With this addition, the capacity will increase from 35,000 metric tons to 48,000 metric tons per annum
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We are further investing INR 180 crore in a greenfield plant in Uttarakhand for our Plastic Pipes and Fittings business, which will help us widen our footprint and grow our market share. The initial manufacturing capacity will be 12,500 metric tons per annum
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