Q4FY22 Quarterly Result Announced for Somany Home Innovation Ltd.
Somany Home Innovation declares Q4FY22 result: Hindware Home Innovation Limited reports FY22 Consolidated Revenue from Operations of Rs 2,294 crore, an increase by 29% and EBITDA of Rs 204 crore, an increase of 27% The company through its wholly owned subsidiary is setting up a new greenfield manufacturing plant for the Plastic Pipes & Fittings business in Roorkee, Uttarakhand with an investment of Rs 180 crore For FY22, Hindware Home Innovation Limited Consolidated Revenue from operations stood at Rs 2,294 crore, registering a growth of 29%. EBITDA stood at Rs 204 crore, having grown 27% and PAT stood at Rs 203 crore, registering a growth of 271% For Q4 FY21-22, the Company registered revenue of Rs 686 crore, reporting a growth of 12% and PAT came in at Rs 40 crore during the quarter under review, registering a growth of 81% YoY. EBITDA came in at Rs 67 crore. In FY22, revenue stood at Rs 1,795 crore registering a growth of 42%. In Q4 FY22, revenue from operations grew by 20% YoY and stood at Rs 550 crore. The segment outperformed the market on the back of product and design leadership, brand awareness, a diverse product portfolio, and a strong distribution network, helping both the Sanitaryware and Faucets businesses to grow substantially. The Plastic Pipes and Fittings business also continued to show strong revenue and volume growth, retaining its position of being the fastest growing brand in the country in this segment. Commenting on the Company’s performance, Mr. Sandip Somany, Chairman, Hindware Home Innovation Limited said, “Despite the ongoing challenges in the macro environment, the Company concluded the year on a healthy note. On a consolidated basis, the Company delivered a robust performance primarily on account of our strengthened Building Products business including Plastic Pipes & Fittings segment. The Company demonstrated exceptional agility and delivered yet another quarter of consistent performance. While raw material inflation continues, we are continuously monitoring the situation, building operational efficiencies, and implementing price hikes to reduce the impact on our margins. On the segmental front, our Building Products segment continues to outperform the market, reflecting the strength of our strategy and excellent business model, while our Plastic Pipes & Fittings business continue to be growing at a faster rate.” He further added, “Having become an end-to-end integrated player post the acquisition of the Building Products Manufacturing business, we believe the business is well placed to derive efficiencies of scale and supply chain to deliver improved profitable growth.” Result PDF26-05-2022