The Ministry of Corporate Affairs, Government of India, issued the Certificate of Incorporation for HHIL on 4 March 2025.
HHIL has been incorporated to engage in the business of consumer products, including kitchen appliances and other consumer electronics. The subsidiary will primarily focus on the sale of these products through dealers, distributors, collaborators, and both retail and online channels.
The paid-up share capital of HHIL is Rs 1 crore, divided into 50,00,000 equity shares with a face value of Rs 2 per share. Hindware Home Innovation will hold 100% of the paid-up share capital of the subsidiary.
The authorized share capital of HHIL stands at Rs 10 crore, divided into 5,00,00,000 equity shares with a face value of Rs 2 each.
As a wholly owned subsidiary, HHIL is classified as a related party to Hindware Home Innovation. Other than the aforementioned details, the promoter/promoter group and group companies have no interest in the transaction.
Hindware Home Innovation is engaged in the business of selling and trading consumer appliances and retail businesses.
The company reported consolidated net loss of Rs 17.75 crore in Q3 FY25 as against net profit of Rs 4.53 crore posted in Q3 FY24. Revenue from operations fell 14.2% YoY to Rs 594.23 crore posted in the quarter ended 31 December 2024.