HSIL to complete demerger by July

HSIL to complete demerger by July

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HSIL which announced its demerger plans in November 2017 is expected to complete the process by July 2018. As per the plans, the company is demerging its consumer and building materials business. In this demerger, branding, marketing, sales, distribution, etc. of consumer products and that of furniture, furnishings, home decor (Retail Undertaking) will be demerged into an entity named Somany Home Innovation Limited (SHIL). Moreover, branding, marketing, sales, distribution, etc. of building products (BPDM) will be transferred to Brilloca Limited, which will be a wholly owned stepdown subsidiary of SHIL. HSIL will retain the manufacturing of all the building & consumer products in addition to manufacturing and sales of packaging products (Glassware).

HSIL Limited’s business segments include building products division and packaging products division. The building products division’s products include sanitaryware, such as water closets, wash basins, pedestals, squatting pans, urinals, cisterns and bidets; wellness, such as bath tubs, shower panels, shower enclosures and whirlpools; faucets/showers, such as showers, bathroom faucets and kitchen faucets; allied products, such as seat covers and concealed cisterns; and consumer products, such as kitchen appliances (vents, chimneys, waste crusher system, hobs and cooktops), water heaters/geysers, air purifier and kitchen sink. The packaging products division’s products include glass containers, polyethylene terephthalate (PET) bottles, security caps and closures. The company’s brands include QUEO, Amore, Hindware Italian Collection/Hindware Art, Benelave, Raasi, Moonbow, EVOK, AGI and Garden Polymers.