Hyderabad, August 2, 2016: Part of the USD 1.6 billion CK Birla Group, HIL Limited, one of the world's largest manufacturers and sellers of fibre cement roofing and green building products, has announced the financial results for the quarter ended June 30, 2016. Some of the highlights are as under:
· Net profits for the quarter stands at INR 31.48 crores.
· Achieved a turnover of Rs. 385 Crores compared to Rs. 404 Crores achieved during the corresponding quarter of the previous year.
Commenting on the results, Mr Prashant Vatkar, Managing Director, HIL Limited said, “The Q1 profits of FY17 have been in-line with our expectations. We have witnessed a rough drop of about 5% as compared to the previous fiscal due to adverse and competitive market conditions”
He further added, “By FY17 the headwinds would subside though not completely, this should improve existing conditions. However, we continue to focus on sharpening operational efficiency, reducing cost and scaling up across existing markets. As a result, we anticipate better results”
About the CK Birla Group
The CK Birla Group is a US$1.6 billion diversified conglomerate that over the years has developed a strong footprint in manufacturing, engineering, technology, hospitals and education. With over 20,000 employees, 27 manufacturing facilities and a customer base that includes some of the world's best-known companies, CK Birla Group’s businesses are present across five continents.
The Group’s companies operate in the sectors of Technology and Automotive, Home and Building, and Healthcare and Education. Companies in the Technology and Automotive cluster comprise AVTEC, Birlasoft, GMMCO, NEI and Neosym. These companies are leaders in manufacturing products for the automotive and related industries globally. The Group's manufacturing capability is further strengthened through its Home and Building solutions companies: HIL, Orient Cement, Orient Electric and Orient Paper. These companies manufacture everyday usage products like paper, fans, kitchen and home appliances, building materials like cement, low weight blocks and panels, pipes and fibre roofing sheets.
CK Birla Group also has two hospitals in Kolkata: CMRI, a multi-specialty hospital with and BM Birla Heart Research Centre, the first NABH-accredited research and treatment centre for heart disease. The CK Birla Group has a presence in the Education sector through the Birla Institute of Technology, Mesra, Ranchi, Modern High School for Girls, Kolkata and Rukmani Birla Modern High School, Jaipur.
The CK Birla Group is deeply committed to creating sustainable positive impact. The Group allocates significant resources to philanthropic initiatives; including those in science and technology, art and culture, and heritage preservation. The Group also works to improve the livelihoods of rural and underprivileged communities.
For more information visit us at www.ckbirlagroup.com
About HIL
Established in 1946, HIL Limited is part of the CK Birla Group’s Home and Building cluster. Being World’s largest manufacturer and seller of fibre cement roofing, HIL Limited offers comprehensive building solutions. The company has a strong focus to achieve market leadership by developing and marketing advanced, high quality, innovative, more sustainable products for the building materials industry. HIL has two major brands- Aerocon and Charminar. The company boasts of 11 state-of-the art manufacturing facilities, 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 safe 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.