Leading Plastic Pipes Manufacturer Expands Footprint with New Begusarai Facility
The stock is down by 55 per cent in 1 year and in 3 years, it is down by 65 per cent.
Prince Pipes and Fittings Limited (PPFL), a prominent player in India's integrated piping solutions industry, has announced the commencement of commercial production at its new manufacturing facility in Begusarai, Bihar. This strategic expansion marks the company's eighth manufacturing unit, further solidifying its presence across India. The state-of-the-art facility is set to enhance PPFL's service speed and marketing agility in the eastern region, a key growth market. The plant, with an initial production capacity of approximately 24,000 metric tons per annum, will focus on producing PVC and CPVC pipes and fittings.
This development is part of PPFL's broader strategy to expand its pan-India manufacturing and distribution network, which includes existing plants in locations such as Sangareddy, Jaipur, Kolhapur, and Chennai. The new facility is expected to significantly boost the company's penetration in eastern India, offering faster local delivery and improved cost-efficiency. Mr. Parag Chheda, Joint Managing Director, highlighted the timely launch amidst industry consolidation, emphasizing the facility's role in scaling up PPFL's operations in the region.
Today, the stock of Prince Pipes and Fittings Limited is priced at Rs 258.2 per share, up 3.36 per cent. The stock has a 52-week high of Rs 721 and a 52-week low of Rs 237.40.
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Prince Pipes and Fittings Limited, established in 1987, is a leading manufacturer of polymer piping solutions in India. The company operates in four major polymer categories: CPVC, UPVC, HDPE, and PPR. With a market share of approximately 5% in the PVC pipes segment, Prince Pipes is among the top six players in the industry. The company's extensive product range includes plumbing, sewage, drainage, irrigation, storage, and cable ducting solutions.
Prince Pipes has a robust distribution network of over 1,500 channel partners and 10 warehouses, ensuring widespread market reach. The company's recent strategic initiatives include the acquisition of the bathware brand Aquel and the launch of luxury faucets and sanitaryware. With eight manufacturing facilities across India, including the newly launched plant in Begusarai, Prince Pipes continues to strengthen its market position and expand its geographical footprint.
Prince Pipes and Fittings Limited has a market capitalization of over Rs 2,700 crore. The stock is down by 55 per cent in 1 year and in 3 years, it is down by 65 per cent. The company's Price-Earnings (PE) Ratio stands at 37.
Disclaimer: The article is for informational purposes only and not investment advice.