- Revenue grows 24.1% to Rs 551.4 crore; EBITDA grows 73.6% to Rs 59.7 crore
- PAT jumps 305.9% to Rs 37.7 crore in the period under review
Somany Home Innovation Ltd (SHIL), fastest growing player in Consumer Appliances and a leader in Building Product business with 3 distinct distribution channels to market today announced its financial results for the quarter ended December 31st, 2020.
Revenue from operations for Q3 FY21 increased by 24.1% YoY to Rs 551.4 crore on the back of robust performance. EBITDA grew 73.6% Y-o-Y to Rs 59.7 crore on the back of improved product mix and better efficiencies. The consolidated EBITDA margin stood at 10.8%, expanding by 309 bps YoY. PAT at Rs37.7 crore, grew by 305.9% as compared to Q3 of FY 2019-20.
Segmental financial overview
- Consumer Appliances Business
- Revenue increased by 39.1% at Rs 156.3 crore driven by improved sales from particularly Kitchen appliances and Water heaters
- EBIT grew by 375.3% at Rs 16.2 crore
- Building Products Business
- Revenue increased by 22.8% to Rs 377.4 crore
- EBIT grew by 51.7% at Rs 33.8 crore
Commenting on the Company’s performance, Mr. Sandip Somany, Chairman, Somany Home Innovation Limited, said, “The company witnessed a good quarter, both in terms of overall revenues and profitability. The recovery for businesses has been sharp post COVID Q1 slump. The growth comes on the back of a strong performance in the Consumer Appliances business which is now emerging as a leading player in few of the segments it operates in. The Building Products business is now witnessing an upward trend with demand recovery from the real estate sector. The company’s investment towards development of CPVC & UPVC Pipes business is yielding excellent results and its products are well accepted by consumers.”
He further added, “Over past 3-4 years, we made strategic investments towards development of new businesses and distribution channels. Each of these businesses have been able to maintain a strong double digit growth on a continuously expanding base, contributing to both topline and bottomline. Our established and expansive three pronged distribution presence now offers us a long runway of opportunity.”
About Somany Home Innovation Ltd.
Somany Home Innovation Ltd. (SHIL), vastly recognised by its Brand Hindware, is the fastest growing player in the Indian Consumer Appliances and a leader in the Building Products segment. SHIL is focused on servicing end-consumers and involved in branding, marketing, sales & distribution and service of various products categories.
The Consumer Appliances business consists of a selection of household appliances such as the kitchen appliances: kitchen chimneys, cooker hoods, built-in hobs, cooktops, built-in ovens, sinks under the brand Hindware Kitchen Ensemble are leaders in numerous categories. The brand Hindware Atlantic houses water heaters whereas our brand Moonbow by Hindware houses water and air purifiers. The company sells air coolers and ceiling fans under brand Hindware Snowcrest. SHIL also has strategic marketing tie-ups with some of the most prominent companies such as Groupe Atlantic in the water heaters segment and the Italian company, Formenti & Giovenzana in the furniture and kitchen fittings segment.
SHIL through its wholly owned subsidiary, Brilloca Limited has a versatile range of best-in-class sanitaryware and faucets products with five brands - Queo, Alchymi, Hindware Italian Collection, Hindware and Benelave catering to a wide pricing spectrum, from luxury and super-premium to mass. The company has growing presence in Plastic pipes and fittings business under the brand ‘Truflo by Hindware’, one of the fastest growing brands in the country in this segment. Recently, ‘Truflo by Hindware’ has also forayed into overhead water storage tanks and column pipes. Under the brand Neom, Brilloca has presence in the super-premium and premium tiles market.
For further information on the Company, please visit www.shilgroup.com