Hindusthan National Glass & Industries Ltd (HNGIL) plans to invest ₹300-500 crore over the next five months to expand manufacturing capacity, after restoring several idled operations and preparing to return to profitability, the company said.
The Mumbai-based container glassmaker, now part of the Africa-based Madhvani-Turner Group, has already invested around ₹700 crore since its acquisition through the insolvency resolution process. Independent Sugar Corporation Ltd acquired HNGIL for ₹2,250 crore under the Insolvency and Bankruptcy Code in September 2025.
The additional investment will fund capacity expansion and operational expenses during the remaining part of the current financial year, HNGIL Chief Strategy Officer Suraj Mehta told PTI. The company expects its financial performance to begin reflecting the turnaround from the current quarter.
“Our topline growth is directly linked to the capacity expansion, and that remains our primary focus,” Mehta said. He added that the company expected the benefits to start appearing in profitability from the quarter, with the numbers likely to be strong.
HNGIL has added between 1,100 and 1,200 tonnes per day of manufacturing capacity since the change in ownership, according to Mehta. Last week, the company fired a second furnace at its Bahadurgarh facility in Haryana, increasing the unit’s capacity from 300 tonnes per day to 600 tonnes per day.
The company’s operational capacity is now estimated at 2,500-2,600 tonnes per day, compared with an installed capacity of 4,300 tonnes per day. Mehta said the operational capacity had fallen sharply before the takeover. When the company was bid for in 2022, its operational capacity was recorded at 2,600 tonnes per day, but this had declined to 1,100-1,200 tonnes per day by the time the new owners took over.
The restoration programme has included the recommissioning of the Puducherry facility at around 330 tonnes per day in February and the Naidupeta plant in Andhra Pradesh at 650 tonnes per day in August. HNGIL described the Naidupeta plant as Asia’s largest single-furnace container glass facility and its export hub.
The company also has an installed capacity of around 950 tonnes per day at Rishra near Kolkata. It said orders received during the Corporate Insolvency Resolution Process are being delivered in the current financial year.
HNGIL’s expansion comes with significant operating-cost pressures. Fuel and gas account for 20-25 per cent of costs, according to Mehta, while prices are revised every fortnight and cannot be fully passed on to customers.
Exports are another priority for the company. Mehta said the European market offered an opportunity because its domestic glass industry was facing high energy and labour costs. HNGIL intends to compete as a quality-focused supplier as it seeks to expand shipments from India.
The company’s immediate milestones are the deployment of the planned ₹300-500 crore investment, further capacity expansion and the release of financial results showing whether the restored operations have translated into profitability.
