Hindustan Sanitaryware & Industries Ltd (HSIL) is to invest Rs 650 crore on capacity expansion. The company board has approved a capital expenditure of Rs 300 crore in addition to the Rs 350 crore approved in October last year.
HSIL will invest Rs 350 crore in its glass bottles business division to increase capacity from 1,050 to 1,500 metric tonnes per day (MTD). Sanitaryware production capacity will be expanded to 5 million pieces per annum from the present 2.8 million pieces with an investment of Rs 200 crore. Besides, chrome plated bath fittings production capacity will also be hiked to 25 lakh units every year from the current three lakh units per annum entailing an investment of Rs 100 crore.
HSIL is also looking for acquisitions worth around Rs 150 crore and is currently considering 3-4 proposals. HSIL last year acquired Crabtree from Havells for about Rs 17 crore and a UK-based sanitaryware company called Barwood Products Ltd for one million pounds.
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