Hardwyn India shares jump 5% as its subsidiary launches new product line

Shares of Hardwyn India Ltd surged during the trading session on Saturday, extending its gains for the second straight session, after its subsidiary unveiled a range of news products. The company informed about the same through an exchange filing after the market hours on Friday.

Subsidiary Slim-X, a wholly-owned subsidiary of Hardwyn India, has unveiled a range of innovative products. The new brand, with cutting-edge technology, said the exchange filing with the bourses. The company is now expecting to generate revenue of Rs 100 crore in the next two years, it added.

"The new range of products that come with aesthetics enhancement, convenience, and a warranty of up to 10 years are expected to be in big demand from architects, interior designers, builders, and contractors, among other industries," said the filing further.

Following the announcement, shares of Hardwyn India rose more than 4.65 per cent to Rs 46.19 on Satuday, commanding a total market capitalization of more than Rs 1,600 crore. The scrip had settled at Rs 44.13 in the previous trading session on Friday. The stock has gained about 170 per cent from its 52-week lows at Rs 17.25 hit in April 2023.

"We are offering the latest innovation through a new brand Slim-X. For Indian markets, we are unveiling ultraslim, high performance aluminum profiles designed for various industries, alongside exquisite glass fittings that redefine elegance in architectural design," said Rubaljeet Singh Sayal, Managing Director, Hardwyn, who eyes a revenue of Rs 100 crore with an investment of Rs 20 crore.

Hardwyn India is a manufacturer of architectural hardware and glass fittings, providing complete solutions for both residential as well as commercial structures since the past five decades. It has made its presence felt globally to create a global supply chain and trusted distribution footprint. 

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