Net sales of India's glass and glassware industry slowed down to 6.2% in the June 2014 quarter, after growing by 9.3% in the preceding quarter. This was mainly because two of the leading companies, Asahi India Glass and HSIL, who account for almost half of the industry's total sales. AIGL stopped the production of float glass at its Taloja Plant owing to expiry of the furnace. As a result, the company's revenues from float glass declined by 8% since the 2014 quarter. The growth in sales of HSIL decelerated to 13.5% during the quarter under review, from 24.3% in the previous quarter. HSIL operates mainly in two business sectors, building products and container glass. Sales of container glass grew by 11.9% and contributed 53% to the company's overall sales. The building products segment reported a 15.3% increase in sales during the quarter. Among the other leading companies, Piramal Glass delivered a healthy sales growth of 13.4%. On the other hand, net sales of Hindusthan National Glass & Industries (HNGIL) stagnated during the quarter. Although the industry's sales grew, total income remained almost flat. This was due to a sharp 86.9% decline in other income. Other income as a proportion of total income contracted to 0.8% as compared to 6.1% in the same period a year ago. HNGIL was largely responsible for this. In the June 2013 quarter, the company had earned a profit amounting to Rs.759.8/M on account of sale of equity shares. In absence of this, the company's other income plunged 98.9% during the quarter under review. The industry's raw material expenses surged by 13.4% during the June 2014 quarter. this was mainly due to an increase in the prices of soda ash.
