National, New Delhi, March 09, 2019: 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 nine months ended December 31, 2018. Part of the USD 2.5 billion CK Birla Group, the company’s revenues for the current quarter stood at Rs. 326 crore as against Rs. 282 crore for the same period of last year showing growth of 16%. For the first 9 months of current year, revenues stood at Rs. 1130 crore as against Rs. 943 crore for the same period of last year (Growth of 20%). Please note that nine months revenue of last year 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 121% year-on-year growth during Q3 FY19 and 132% year-on-year growth during the nine months period. We are seeing traction in Birla Aerocon range given the emphasis on solutions-based approach.
Business performance highlights:
For the first 9 months of the year, Profit before Tax improved by 49% year-on-year to Rs.134crore. In Q3 FY19 Profit before Tax stood to Rs. 13.5 crore. The PBT is lowered during the quarter on account of reversal of Forex gain of Rs.7.5 crore booked in Q2FY19 on Euro 20 million loan given to wholly owned subsidiary in Germany for purchase of shares of Parador Holdings GmbH
- This performance has been supported by growth in sales across board, where initiatives taken to drive higher productivities from operations driving earnings
- 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 has posted another set of robust numbers this quarter. The significant rise in profits has been owning to a committed performance from all our employees backed by an ever-daunting loyalty from our dealers. All our SBUs have grown more than the segments they operate in. Our roofing solution business under brand Charminar and building solution business under brand Birla Aerocon has maintained its leadership positions. Our efforts towards developing a brand pull and channel development supported by a continuous effort of launching new product ranges has propelled this growth.”
Corporate Comm India(CCI Newswire)
