Hindware Home Innovation Ltd Share Price

History of Hindware Home Innovation Ltd

Hindware Home Innovation Limited (HHIL), formerly known as Somany Home Innovation Limited was incorporated as wholly owned subsidiary of HSIL Limited on September 28, 2017 in Kolkata, West Bengal. The Company name was then changed from Somany Home Innovation Limited to Hindware Home Innovation Limited with effect from May 23, 2022. The Company is into the business of selling and trading of Consumer products and Retail business. SHIL houses the Consumer Appliance business and offers a range of innovative products across kitchen appliances, sinks, air coolers, water purifiers, and ceiling and pedestal fans categories. It has presence in kitchen and furniture fittings segment in collaboration with the Italian Company, Formenti & Giovenzana under the brand FGV Powered by Hindware'. It offer ...s furniture and interior products under the brand EVOK by Hindware'. It offer a versatile range of best-in-class sanitary ware, faucets plastic pipes and fittings, overhead water storage tanks, column pipes and premium tiles housed under Brilloca Limited, a wholly-owned subsidiary of SHIL. In the Retail business, the Company offer specialty home interior products through modern format stores and digital platforms under the brand EVOK by Hindware'. It has a strong online presence through www.evok.in, operated by the wholly owned subsidiary, Hindware Home Retail Pvt. Ltd. It is present on prominent multi-brand furniture marketplaces, such as Pepperfry, Urban Ladder, Flipkart and Amazon. EVOK is on the path of becoming the most promising omnichannel brand in the furniture, modular kitchen, decor and furnishing categories. Presently, the Company has two company-owned display and sales stores located at Delhi and Faridabad. It has franchise stores across the country. The products reflect the artistic and functional sensibilities that fit today's consumer's tastes and lifestyles. EVOK has developed itself as the favorite destinations for solid and engineered wood furniture by focusing on company's core strengths in understanding varied consumer and trade behavior, retail distribution network, brand equity, global sourcing, and cost-effective supply chain management. The Building Products portfolio consists of a versatile range of best-in-class sanitaryware, faucets, plastic pipes and fittings, premium and super-premium tiles, and wellness products, catering to a wide cross-section of customers. The Company has leading innovative brands in sanitary ware and faucets segments that capture the entire value spectrum, such as Queo and Amore (the luxury brand), Alchymi (the super-premium brand), Hindware Italian Collection and Hindware (premium brands) and H-Vitreous and Benelave (mass segment brands). Apart from these, the plastic pipes and fittings segment, through the brand 'TRUFLO by hindware', comprises Chlorinated Polyvinl Chloride (CPVC), Unplasticised PVC (UPVC), Soil-Waste-Rain (SWR) pipes and PVC pipes for potable water. The Company product portfolio spans home and bathroom improvement solutions. These categorizes kitchen appliances like sinks, cooker hoods, built-in hobs, chimney, cook-tops, builtin ovens, dishwashers, food sanitizers, consumer appliances like water heaters, water purifiers, air coolers, ceiling fans, table fans, wall fans, pedestal fans and kitchen and furniture fittings. The range of newly launched products such as Activio Food Sanitizer and Hindware Purge Surface Disinfectant truly help consumers prioritize their well-being. Moreover, it has widened the product portfolio by entering a niche segment of furniture and kitchen fittings under brand FGV Powered by HindwareT, comprising normal MS slide-on, integrated soft close, corner pie and wide angle hinges, comfy ball bearing and excel bottom mounted drawer channels and ten, uniplus and unilux drawer system and aerolift liftups, sourced through strategic tie up with Italian Company, Formenti & Giovenzana (FGV) to supply quality fittings for modular furniture and kitchen arrangements in India. The Company expanded product offering to include more than 45 new sanitary ware and over 120 new faucet SKUs, including innovative products such as tank less water closet and contactless sensor faucets amongst others. It introduced a range of contactless sensor faucets which encourage minimal contact with surfaces, integrated with infrared sensor technology, the contact free faucets activate water flow ensuring maximum hygiene. It launched industry-first the Hindware tankless wall mounted EWC which has a flush system with no cistern, to ensure the dual-pronged benefits of intelligent space utilization and hassle-free installation without any wall breakage. It further launched Build a Toilet, Build Her Future' social initiative under Hygiene that Empowers' concept. The Company entered new markets to export in Australia, Bangladesh and China. It started exports to few key Asean and Middle East Countries as well. Currently, it is connected with over 2,000+ architects across the country. Around 160+ new dealers were added to the distribution network while expanded to over 127 towns across India covering all metros and Tier-1 cities. The Company Increased focus on project business, and this helped in acquisition of various new projects including, Ansal City and TDI in Panipat, Artech Apartments and Lulu Mall in Kerala, Arcadia Hotel in Kottayam and residential projects in Danapur, Bihar. The Company ventured in launching of new products like Column Pipes for Borewell Applications, Underground drainage pipes and Overhead Water Storage Tank. It launched over 80 new SKUs in GVT, Full Body and Wall Tiles. It had reached a total count of 200+ stores with six brand shops and 30 shop-in-shops. It is further expanding to tap a wider market and plans to add more brand stores in towns with a population of more than 1 lakh as well as appoint distributors in Tier 3 and Tier 4 towns. The Company introduced overhead water storage tank segment with a range of durable and sturdy water tanks. The new sturdy water tank range is manufactured with food grade compliant LLDPE material. The silver ion-powered antibacterial treatment bring resistance to microbial growth and retain the water safety levels for longer duration. The new water tank range comes with a five-year warranty and comprises three models - Dura, Dura Plus, and Dura Cool. While the Dura and Dura Plus offer three-layered tanks with the assurance of safety and durability, the four-layered Dura Cool variant provides premium quality insulation, which ensures water temperature is relatively cooler. The Company has ventured into the overhead water storage tanks and introduced patented column pipes for borewell applications and underground drainage pipes. In FY 2020, the Company launched the sixth Lacasa store in Delhi - a 7,000 sq. ft. art gallery that takes customers, influencers, architects and interior designers across an effortless journey harmonizing the parts of luxury and premium sanitaryware, bath fittings and premium and super-premium tiles. SHIL has entered into a joint venture with French multinational and market leader in eco-friendly heating products, Groupe Atlantic of France to further leverage the opportunities in fast-growing Consumer Water and Electrical Heating segment in India under Hintastica Private Limited (HPL). Under Hintastica Private Limited, the Company is in the process of setting up a manufacturing plant in Telangana to manufacture water and electrical heating products. Through this JV, Groupe Atlantic will be investing Rs 68.3 crore for a 50% stake in Hintastica Private Limited (HPL), its water heater business subsidiary. Under this arrangement, the Company is in process for setting up of a manufacturing plant in Telangana, which is expected to be completed in FY 2022-23. Under the JV, it will manufacture and market high-quality water heating products under the brand, Hindware Atlantic. During the year 2019-20, through the Scheme of Arrangement between HSIL Limited, Company and Brilloca Limited and their respective shareholders and creditors, the Consumer Products Distribution and Marketing Undertaking and Retail Undertaking was transferred to the Company and Building Products Distribution and Marketing Undertaking was transferred to Brilloca Limited and the said Scheme was made effective on 5 August 2019. Pursuant to the Order dated 26 June 2019 of Hon'ble NCLT, Kolkata Bench approving the Scheme of Demerger, the investment held by HSIL Limited in the Company stood cancelled and the Company ceased to be a subsidiary Company of HSIL Limited. Whereas, Hindware Home Retail Private Limited and Brilloca Limited became the wholly owned subsidiaries of the Company and Luxxis Heating Solutions Private Limited became the subsidiary of the Company w.e.f. 5 August 2019. Further, the Foreign Companies namely Halis International Ltd., Alchemy International Cooperatief U.A. (Subsidiary of Halis International Ltd.), Haas International B.V. (Subsidiary of Alchemy International Cooperatief U.A. and QUEO Bathroom Innovations Limited (Subsidiary of HAAS International B.V) became the wholly owned subsidiaries of Brilloca Limited and further became the step down subsidiaries of the Company. Hintastica Private Limited was incorporated on 14 November 2019 in India as a wholly owned subsidiary of the Company. The Water Heater Business Undertaking (WHBU), being part of Consumer Appliances of the Company was sold to its then wholly owned subsidiary M/s. Hintastica Private Limited by way of slump sale as a going concern and the aforesaid sale was given effect from 31 December 2020 during the year 2020-21. In FY 2025, Company launched a new range of drains, a new brand Store Design, launched Hindware Italian Collection Quartz for both commercial and residential countertops, launched trending design series, including Super High Gloss and Mural series, to capture contemporary market preferences and expand our aesthetic offerings. PTMT machines have been installed and commissioned at the Isnapur Plant in 2025. The Double Wall Corrugated machine has been commissioned. Company has launched the National Parts Centre (NPC) at Bahadurgarh, establishing a unified spare parts hub for our bath and consumer products. The Composite Scheme of Arrangement amongst the Company, Hindware Limited and HHIL Limited for demerger of Consumer Products Business of the Company with and into HHIL Limited and the amalgamation of the Company into Hindware Limited was implemented in FY 2024-25. The Scheme entails the demerger of Consumer Products Business into the wholly owned subsidiary, HHIL Limited, and the amalgamation of the remaining Building Products Business into Hindware Limited.