Home  »  Company  »  HSIL Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

HSIL Ltd. Company History and Annual Growth Details

1960 - The company was incorporated in 8th February at Calcutta. The
name of the company was changed with effect from 3rd May 1969
from Hindustan Twyfords Ltd to Hindustan Sanitaryware & Ind Ltd.
The main object of the company is to manufacture Vitreous
China Sanitaryware, Glass products, refractories and Plaster of

- 10,000 No. of equity shares to promoters and 1,04,000 No. of
equity shares to foreign collaborators issued for cash. 1,00,000
No. of equity shares allotted to directors etc. 20,000 pref. and
1,85,000 No. of equity shares offered to the public.

1966 - 99,809 bonus equity shares issued in the proportion 1:4.

1969 - 2,39,542 bonus equity shares issued in the proportion 12:25.

1980 - 2,46,195 bonus shares issued in prop. 1:3.

1981 - Associated Glass Industries, Ltd. was merged with the company
with effect from 29th June, and their glass unit at Hyderabad was
taken possession of by the company from that date. Immediately
thereafter, work was taken up for extensive repairs to furnace,
plant and machinery and gas producers and updating of the I.S.
Glass forming machines.

- With the co-operation of Glass Equipments (India), Ltd., it was
possible to start production in November on furnace HW-II and
establish capacity to draw 62 tonnes of glass per day as against
the 42 tonnes specified by the erstwhile foreign collaborators.
HW-II furnace was put into service in July, after minor
modifications and extensive repairs for draw upto 69 tonnes
per day. As envisaged, operations proved to be profitable.

- Associated Glass Industries, Ltd. was merged with the company
with effect from 29th June.

1983 - Owing to labour unrest and violence, a lock-out had to be
declared from 18th May, to 11th November. Since then, one
furnace was in operation as HW-II sustained heavy damages at the
time of sudden closure. It was repaired, renovated and enlarged.

- Authorised capital reclassified. 15,000 pref. and 67,500 No. of
equity shares allotted without payment in cash to pref. and
equity shareholders respectively of Associated Glass Industries
Ltd. on its merger with the Company.

1984 - Capacity was increased by using electric booster of 90 TPD with
the booster installations, the furnace had been successfully
operated on green glass.

1986 - Production declined due to incessant power cut imposed by Andhra
Pradesh State Electricity Board, glass leakage in HW-II furnace
twice and a major break down in the new compressors. Despite
these adverse factors, the company acheived a production of 83%
of the licensed capacity.

- The company installed and commissioned a CNC turning centre
imported from W. Germany

- The company undertook a modernisation programme in phase.

1987 - Production at 10,450 tonnes showed a marginal improvement despite
shut down of tunnel kiln for two and a half months for

- Production declined to 26,961 tonnes due to reasons such as
plant shut down for 3 months for modernisation, power cut as high
as 50% and untimely break down in flint furnace.

- An application was made for an industrial licence to enhance the
capacity to 18,000 tpa.

- The company received Government permission for construction of
another highly energy efficient automated kiln.

- The amber glass furnace was commissioned at the Hyderabad Unit.
Also, a plant for substantial reduction of ash and tar from coal
gas and thereby prolong the life of the furnace, was introduced.

- During the year, a 2.9 MW Sulzer Autostar DG set and 2
centrifugal air compressors were ordered.

- 5,26,141 bonus equity shares issued in prop. 1:2.

1988 - The company proposed to install a new Mirrlees Blackstone
generator of 3.3 MW in December and a sluzer set by the middle of
the year.

- The company proposed to make an application for grant of LPG as
the supply of residential fuel oil was not satisfactory. It was
also proposed to replace 2 kilns by one high energy efficient
kiln. Two new colours and a range of silk matt glazes were
introduced during the year.

- The Company launched 'Solara' a new luxury bath room series.

- Production and sales showed improvements despite constraints due
to relocation of various equipments during the on going
modernisation programme. With amalgamation of Krishna Ceramics,
Ltd., the company acquired a sanitary ware manufacturing unit
at Bibinagar in Nalgonda. This was expected to meet the demand
in the Southern Indian market.

- The flint glass furnace was commissioned after expansion and
modernisation of the unit. One of the two imported Centrifugal
Air Compressors was erected and was commissioned during 1989-90.

- With effect from 30th June, 'Krishna Ceramics Ltd.' (KCL) was
amalgamated with the company. As per the scheme of amalgamation,
8 equity shares of Rs. 10 each of KCL were to be exchanged for 1
equity shares of the Company.

1989 - The performance of the Bhadurgarh and Bibinagar units would have
been better but for shortage of power at the Bhadurgarh unit
and industrial unrest for 23 days at Bibinagar unit.

- Also, a new casting shop with floor area of 97,000 sq. ft.
incorporating modern facilities was commissioned in early 1989.

- Apart from these, mechanisation and automation were also
introduced in various other departments.

- During the year, the Hyderabad Unit, was permitted an increase in
its licensed capacity by 40%. The Company proposed to rebuild
the existing furnaces and equip the present machines for higher
speeds. Also necessary infrastructures were proposed to be
furnished for high speed operations and increased production
capacity of 48,000 tpa.

- 3,65,625 No. of equity shares issued without payment in cash to
the members of Krishna Ceramics Ltd. on its merger.

1990 - To counter the humid conditions during monsoon, an air heating
system in the casting shop was installed.

- A 300 KVA DG set was transferred to the 2nd unit of AP plants
from the glass division.

- However, Glass unit of 2.9 MW DG set was commissioned and with
this the production was streamlined in the second half.

- At the unit no. 1 in Bhadurgarh and one more shuttle kiln was
installed. With these, the company hoped to increase the
installed capacity upto 18,000 TPA shortly.

1992 - New luxury bathroom suite was well received in the market.

- Production registered a marginal decline due to planned shut down
of white furnace for about one and a half months in the first
half of the year.

- With the modification of Dig House Configuration of HW-II White
furnace, the quality of glass improved significantly in terms
of seed count by as much as 80%.

1993 - Environmental Control Equipment was installed at Unit No. 1 in
Bhadurgarh resulting in improved productivity.

- During October/November, public and right issue of 15,77,316-15%
secured redeemable partly convertible debentures of Rs. 130 each.

- Out of the total issue, 7,79,624 debentures were offered to the
equity shareholders of the company in the proportion of one
debenture for every two equity shares held (all were taken up)
and 38,900 debentures were offered to the employees of the
company (only 5,400 debentures were taken up).

- 57,692 debentures offered to the financial institutions. 75,800
debentures to the Schablona India Ltd., 19,000 debentures to
foreign institutional investors (all were taken up). 75,800
debentures offered to the Mutual funds (only 65,400 debentures
were taken up. Unsubscribed 10,400 debentures were added back
to the public issued of 5,30,500 debentures (all were taken up).

- Part A of Rs. 45 each debenture was to be converted into one
equity share of Rs. 10 at a premium of Rs. 35 on allotment.

- Part-B of Rs. 85 was to be redeemed in three annual instalments
of Rs. 30, Rs. 30 and Rs. 25 at the end of 7th, 8th and 9th year
respectively from the date of allotment.

- Soma Plumbing Fixtures, Ltd. and Ceramic Services, Ltd. are
subsidiaries of the Company Amal Ceramics, Ltd. is also a
subsidiairy of the company.

- 15,43,816 No. of equity shares allotted in conversion of

1994 - The company procured a sophisticated multicolour printing
machines for increasing capacity of printed bottles for the soft
drink/beverage industry.

- 15,25,198 No. of equity shares allotted at a prem. of Rs. 86.12
per share on conversion of debentures.

1995 - The mould dryer was commissioned.

- During the year, the company proposed to add a new 250 tonnes per
day plant to its glass division.

1996 - New Colours and designs were introduced during the year.

- Production was constrained because of one of the glass furnaces
was under planned shutdown for ten weeks.

- A new Enterprise-wide Resource planning system was under
installation of Bhadurgarh of facilitate improved MIS and
on-line availability of all important information for decision
markets. The company also proposed to install a 4.2 MW DG set
operating on Heavy Oil which was expected to be operative in

2000 - The Company's container glass division has been renamed as 'AGI
Glaspac.' The modernisation and expansion programme of the
division has been completed. The new state-of-the-art furnace is
energy efficient and environment friendly.

- The Company has achieved the ISO 14001 certification for
environment friendliness. The Company's unit at Bahadurgarh is
the first sanitaryware plant in India to have achieved such

2001 - The Company, the largest sanitaryware producer in the country, has put the proposal to
spin off its glass division into a separate company on the backburner.


-Hindustan Sanitaryware & Industries Ltd (HSIL), makers of the sanitaryware brand Hindware, launched a range of stainless steel kitchen sinks in Chennai


- Hindustan Sanitaryware and Industries Ltd (HSIL) has launched an eco-friendly variety of water closet, Viva where the new range comes with a 3/6 litre water saving dual flush.
Oct 24, 12:00 am
Oct 24, 4:14 pm
Subscribe now to get personal finance updates in your inbox!