Hindusthan National Glass & Industries Ltd (HNGIL), now part of the Africa-based Madhvani-Turner Group, is planning to invest ₹300-500 crore over the next five months to ramp up manufacturing capacity by the end of this fiscal year.
HNGIL, which was acquired by Independent Sugar Corporation Ltd through the insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) for ₹2,250 crore in September 2025, has invested around ₹700 crore in the business since the change in ownership.
“Another ₹300-500 crore will be invested during the remaining part of the current financial year, which will be for capacity expansion and meeting operational expenses,” HNGIL Chief Strategy Officer Suraj Mehta told PTI.
The Mumbai-based container glassmaker, had received several orders during its Corporate Insolvency Resolution Period (CIRP), which are being delivered in the current financial year.
Following the change in management after the CIRP, HNGIL has already “turned around” its business and expects to return to profitability from the current quarter, with profits beginning to reflect in its financial performance.
“Our topline growth is directly linked to the capacity expansion, and that remains our primary focus. We expect the benefits to start reflecting in our profitability from this quarter onwards, with this quarter’s numbers likely to be quite strong,” Mehta said.
Since the change in ownership, HNGIL has added 1,100-1,200 tonnes per day of manufacturing capacity, he added.
Last week, the company fired the second furnace at Bahadurgarh in Haryana, doubling the capacity of the unit from 300 to 600 tonnes a day.
With this, the operational capacity of the company has increased to somewhere around 2,500-2,600 tonnes per day against an installed capacity of 4,300.
“When we bid for this company in 2022, the operational capacity was 2,600 tonnes a day on paper. By the time we took over, it had come down to 1,100 or 1,200. We had to rework all our numbers. This one year has been about getting that capacity back,” he said.
Rebuilding capacity has been capital intensive, and fuel and gas, which make up 20 to 25 per cent of costs, are revised every fortnight and cannot be passed on in full, he said.
Puducherry was re-commissioned in February around 330 tonnes a day, and Naidupeta in Andhra Pradesh in August at 650 tonnes a day, making it Asia’s largest single furnace container glass plant and the company’s export hub . Rishra near Kolkata has an installed capacity of around 950 tonnes a day.
On expanding exports, Mehta said it is a priority and the European market provides good opportunity because their domestic glass industry is facing problems with high energy prices and labour cost.
“Somebody has to fill that gap, and we want to be the best quality player. The Prime Minister himself asked us to make India a glass export hub,” he added.
Published on October 20, 2026
