Prince Pipes Commences Commercial Production at Telangana

Prince Pipes and Fittings Limited (PPFL), one of India's largest integrated piping solutions & multi polymer manufacturers with six strategically located plants across the country, today announced the launch of its seventh manufacturing facility in Sangareddy, Telangana. Through this launch, PPFL expands its pan-India manufacturing presence, makes greater in-roads into the Southern region and strengthens its position as a leading manufacturer of high-quality plastic pipes and fittings. Currently the Company caters to the Southern market by two plants in Chennai and Haridwar.

The state-of-the-art manufacturing unit is expected to have a total installed capacity of approximately 50,000 metric tons per annum to come up in phases over the next 2 to 3 years. The first phase has an installed capacity of 4,020 metric tons per annum, producing fittings. The facility will cater to Southern markets, as PPFL aggressively continues to expand its pan-India marketing, distribution, and manufacturing presence. The Company's other plants are located in Jaipur (commissioned in 2019), Kolhapur, Chennai, Haridwar, Dadra and Athal.

Mr. Parag Chheda, Joint Managing Director, Prince Pipes and Fittings Limited, said, "Our new integrated pipes and fittings manufacturing facility in Sangareddy has commenced commercial production much before schedule and at an opportune time when the industry is witnessing rapid consolidation. We thank the team for their tremendous efforts and aggressive execution intent. PPFL has always been ahead of the curve in gauging demand cycles and accordingly setting up capacities in advance - the Telangana plant validates the same. The facility has started manufacture of fittings - a high margin product. The plant strengthens PPFL's strategic presence across India through 7 manufacturing units and will serve to scale up our penetration in Southern India, a key region of focus for the Company. This will add greater marketing speed, faster local delivery and cost-efficiency as freight constitutes a significant part of our cost structure. A major portion of the total capacity is anticipated to be operational by Q2 FY22."

Source : Equity Bulls

Keywords