The Rs 3,500-crore group is expected to take a hit of 15 per cent on its last year top line number. Two of the largest group entities — Hindustan Sanitaryware & Industries (HSIL) and Somany Home Innovation (SHIL) — raked in Rs 1,859 crore and Rs 1,613 crore, respectively. Its 10 manufacturing plants are already back to 80 per cent of pre-Covid levels. But a full recovery may not happen this year.
While for SHIL, 98 per cent of business comes directly from consumers, for HSIL, 30 per cent of the business is dependent on large institutional buyers like builders, hospitals, hotels, among others.
To stay prepared for normal demand levels, the group is chalking out investment plans in expanding capacity and plans to finalise them at its next board meeting. “To continue the high growth rate, we will need to invest more in expanding plant capacity,” says Somany.
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