HSIL believes consumer products like water purifiers will sell the most and kitchen appliances will be driving its growth in India
HSIL has announced that it plans to cross over 500 crores revenue from its consumer products segment. The company deals in seven product categories such as water purifiers, air purifiers, water heaters, air coolers, kitchen appliances, kitchen sinks and vents and earned a revenue of Rs 208 crore in 2017-18. HSIL is eyeing to increase the previous figure to Rs 375 crore this fiscal.
Rakesh Kaul, Consumer Business President HSIL, said that the move came with the company’s business expansion plans in India.
HSIL has been growing its consumer products segment since its inception. It has grown by70 per cent compound annual growth rate since 2015. The CEO expects that the water purifier products will be selling the most among the other categories. He further added that consumer appliances like air coolers, water purifiers and kitchen appliances will be the drivers of HSIL’s growth next year.
The company’s consumer appliances span across 1400 centres in India. It has a network of 1,100 distributors, more than 8,500 retailers across the country. The CEO said that HSIL had been eyeing to expand its business in India by increasing its network of distributors in the future.