Innovation, diversification and smart acquisitions have put Prince Pipes in the big league of Indian piping industry.
Like rest of the world, the Indian piping industry has seen a major shift in the last few years with polyvinyl chloride (PVC) working wonders. PVC pipes have been replacing cement and metal pipes swiftly as they effectively address the problems of corrosion and leaking joints, synonymous with the old piping system.
Many Indian pipe and fitting companies have expanded rapidly by making the most of this PVC revolution. But one such company has outshined its peers by registering a dazzling performance. Mumbai-based Prince Pipes & Fittings Pvt Ltd has recorded stunning CAGR (compound annual growth rate) of 40 per cent that few can match. The spectacular growth figure puts the piping solutions company miles ahead of the industry, which has been growing at around 10 per cent during the same period.
"Prince Pipes' turnover has multiplied manifold in the last 12 years from Rs 100 crore in 2005 to over Rs 1,300 crore in 2016," reveals Parag Chheda, the 45-year-old joint managing director (JMD) of the company. His handson management style and winning strategies have transformed the company into a leading player in the Indian PVC pipes and fittings industry.
Jayant Chheda, Parag's father and chairman and managing director of Prince Pipes & Fittings Pvt Ltd, is equally responsible for the company's amazing growth. The 71 year-old patriarch's energy and enthusiasm can easily put a person half his age to shame. The senior Chheda - a highly-respected veteran in the world of polymers - is busy even at this age, actively running the day-to-day affairs of the company, setting targets, guiding his younger colleagues and travelling across the globe to procure the right raw materials. Besides, Vipul Chheda - Parag's younger brother and director in charge of projects - and Heena Chheda - Parag's wife and Prince Pipes' finance director - have turned the family-run business into a robust company.
Denne historien er fra February 2017-utgaven av India Business Journal.
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Denne historien er fra February 2017-utgaven av India Business Journal.
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