Hindusthan National Glass & Industries plans to invest ₹300-500 crore over the next five months to expand manufacturing capacity, as the company targets a return to profitability after its takeover by the Madhvani-Turner Group.
New Delhi, October 20 — Hindusthan National Glass & Industries Ltd (HNGIL) plans to invest another ₹300-500 crore during the remaining months of the current financial year to expand production capacity and support operational requirements.
The container glass manufacturer is now part of the Africa-based Madhvani-Turner Group after being acquired by Independent Sugar Corporation Ltd through the insolvency resolution process.
The acquisition was completed in September 2025 for ₹2,250 crore under the Insolvency and Bankruptcy Code.
Since the change in ownership, around ₹700 crore has already been invested in the company.
HNGIL Chief Strategy Officer Suraj Mehta said the additional ₹300-500 crore investment will primarily be used for capacity expansion and operational expenses.
The company had accumulated several orders during its Corporate Insolvency Resolution Process, and these orders are now being delivered during the current financial year.
Management says HNGIL has already turned around operationally and expects to return to profitability from the current quarter.
Mehta said the company’s topline growth is closely linked to how quickly it can restore and expand production capacity.
Since the ownership change, HNGIL has added around 1,100-1,200 tonnes per day of manufacturing capacity.
Last week, the company fired the second furnace at Bahadurgarh in Haryana, doubling that plant’s capacity from 300 tonnes per day to 600 tonnes per day.
With this expansion, HNGIL’s operational capacity has increased to around 2,500-2,600 tonnes per day, against an installed capacity of about 4,300 tonnes per day.
When the acquirer originally bid for HNGIL in 2022, the company’s operational capacity was estimated at 2,600 tonnes per day. By the time the takeover was completed, it had fallen to around 1,100-1,200 tonnes per day, requiring a major rebuilding exercise.
The company has also restarted facilities in other regions.
Its Puducherry plant was recommissioned in February at around 330 tonnes per day, while the Naidupeta plant in Andhra Pradesh restarted in August at 650 tonnes per day.
HNGIL said the Naidupeta facility is Asia’s largest single-furnace container glass plant and will serve as a major export hub.
The company’s Rishra facility near Kolkata has an installed capacity of around 950 tonnes per day.
Exports are also a major focus, with HNGIL seeing opportunities in Europe, where domestic glass manufacturers are facing high energy and labour costs.
The company aims to use India as a base to expand its presence in global container-glass markets.
