Prince Pipes Taps Demand For Growth

Rising demand from housing and real estate on the back of enhanced production capacity and distribution network have added to the balance sheet of India's largest piping solutions company.

- P.B. Jayakumar

WHEN MAHA KUMBH, the largest religious gathering in the country was held at Haridwar in April 2021, devotees at the five main ghats were greeted with an unusual gift — a miniature water tank to carry the holy water of Ganges to their homes. “It was part of the campaign ‘Ab Ghar Ghar Mein Ganga’ to brand our new water tank. We have had a plant in Haridwar since 2008 and were part of the local community which organised the Maha Kumbh,” says Parag J. Chheda, joint managing director, Prince Pipes & Fittings.

The company is one of India’s largest piping solutions and multi-polymer manufacturer with a portfolio of 7,200-plus bstock-keeping units (SKUs) and over 15,000 distributors, pan India. The fourth largest in the solutions piping segment, Prince is promoted by Bollywood star Akshay Kumar, its brand ambassador for the past five years. Thanks to the growth in real estate and affordable housing in the country, coupled with government programmes like the ₹12,000 crore Swachh Bharat Mission to achieve universal sanitation, ₹76,000 crore Amrut Mission for providing basic civic amenities such as water supply and sewerage, and Smart City Mission, Prince Pipes is on a dream run since the past few years. Revenues increased to ₹2,657 crore in FY22 from ₹1,315 crore in FY18, while for the nine months ended FY23, it grew 11% to ₹1,946 crore from ₹1,756 crore a year ago. The company is profitable and debt free, with ₹158 crore in cash and bank balance as of December 31, 2022.