- Consolidated Revenues increases by 42% to Rs. 586 crore
- Consolidated Profit after Tax increases by 164% year-on-year to Rs. 32 crore
Hyderabad, November 14, 2019: Part of the USD $2.5 billion CK Birla Group, HIL Limited which is one of Asia’s leading building material solutions company, today announced the financial results for the quarter ending September 30, 2019. The company reports growth in revenues by 42% to Rs. 586 crore in Q2 FY20’ as against Rs. 413 crore over the same quarter of FY19’.
Business performance highlights:
- Consolidated EBITDA stood at Rs. 60 crore compared to Rs. 71 crore for the same quarter last year, a decline of 15% year-on-year on account of tough market conditions and huge pressure on raw material prices during the quarter
- Consolidated Profit after tax showed 164% increase at Rs. 32 crore as the company choose to excersise the option permitted under Section 115BAA of the income tax act, 1961 as introduced by Taxation Laws (Ammendment), Ordiance 2019
Mr. Dhirup Roy Choudhary, Managing Director, HIL Limited said, “Despite an environment of general slowdown in economy, muted demand for construction and building materials, and higher raw material costs, HIL Ltd has delivered growth in revenue and PAT in Q2 FY 2019-20. Our international acquisition is improving at the right pace and we are very confident of exceeding our own expectations. This is the result of the several steps undertaken to improve the efficiencies of operating processes focus on cost and productivities across the enterprise to minimize the impact of external factors. I strongly believe that these practices will continue to drive HIL’s growth and reflect positive numbers in the upcoming quarters. Going forward, we will focus on retaining our position of a leading, global, innovative, and eco-friendly building and infrastructure solutions company and creating sustainable value for our stakeholders.”
About HIL
Established in 1946, HIL Limited is a flagship company of the CK Birla Group. Being World’s largest manufacturer and seller of fibre cement roofing, HIL Limited offers comprehensive building solutions. Since last 70 years, the company has achieved market leadership by developing and marketing advanced, high quality, innovative, more sustainable products for the building materials industry. HIL has 6 major brands- Charminar, Birla Aerocon, Charminar Fortune, Hysil, Birla HIL and recently acquired German flooring brand, Parador. The company boasts of 21 state-of-the art manufacturing facilities in India, and two manufacturing sites in Germany and Austria, reiterating its commitment to innovation through a dynamic R&D facility, offering products that are affordable, strong and durable. Having pioneered in green technology keeping in mind the paradigm shift to green building materials almost a decade ago, the company stands out with its signature True Fit technology that has created a benchmark in the piping industry. The company is committed to health and safety practices, which is reflected through its vast range of products that are environmentally viable and conducive. Given its strong emphasis on customer centricity, HIL Limited also ensures a widespread reach through an extensive sales and distribution network spread across the country, with a representation in all the states. Its strengths are truly its employees, loyal dealers and satisfied customers. With consistent efforts to grow the business sustainably, HIL is also certified as Great Place to Work ® and Mr Dhirup Roy Choudhary, our MD and CEO was recently awarded as “The Most Promising Business Leader of Asia 2018” by the Economic Times. The company also has been a recipient to the Iconic Brand Award, Asia’s Most Trusted Company Award, Best Company of the Year Award and has been maintaining the Superbrand status for a while.
