Hindustan Sanitaryware in talks on acquisitions

Hindustan Sanitaryware (HS), a manufacturer of building products and container glass, posted a 35.88% rise in income from sales to INR 999.5 million for July-September 2005 (INR 670.2 million for July…

Hindustan Sanitaryware (HS), a manufacturer of building products and container glass, posted a 35.88% rise in income from sales to INR 999.5 million for July-September 2005 (INR 670.2 million for July-September 2004). Net profit increased by 138.62% to INR 69.2 million (INR 29.0 million). The company, which has two manufacturing facilities at Bibinagar in Andhra Pradesh (AP) and Bahadurgarh in Haryana, has undertaken a capacity expansion programme at its AP plant to raise capacity to 18,000 tonnes a year from the existing 12,000 tonnes. The expansion programme is scheduled for completion in February 2006. In addition, HS has begun talks with a number of domestic companies in the building products business, for a possible acquisition. The company is also looking at acquisitions in Eastern Europe and East Asia. HS targets turnover of INR 5 billion by March 2007.