Prince Pipes & Fittings surges on commencing production in Telangana
Prince Pipes & Fittings Limited (PPFL) has launched its seventh manufacturing facility in Sangareddy (Telangana) by initiating commercial production.
The company already has two plants in South India i.e. in Chennai and Haridwar. With this new plant, it can further expand its pan-India manufacturing presence and strengthen its position in the South Indian market. Its other plants are located in Jaipur (Rajasthan-commissioned in 2019), Kolhapur (Maharashtra), Dadra & Athal (Dadra and Nagar Haveli).
The facility has started manufacturing fittings, which is a high margin product. This state-of-the-art manufacturing unit is expected to have a total installed capacity of approximately 50,000 metric tonnes per annum. The whole process would be carried out in phases over the next 2 to 3 years. A major portion of the total capacity is anticipated to be operational by Q2FY22. The first phase has an installed capacity of 4,020 metric tonnes per annum.
PPFL is one of India’s largest PVC pipes manufacturer engaged in the manufacturing of polymer pipes & fittings through the production of polymer pipes - CPVC, UPVC, HDPE, PPR, and fittings - CPVC, PPR, and UPVC, whose leading brands are Prince Piping Systems and Trubore. It has 1,151 distributors under the brand-Prince and 257 Trubore brand distributors.
The company had received a patent in FY20 for the innovative and technologically superior product design of the DWC Coupler. By leveraging its multi-location manufacturing network, it is on the verge of becoming the first company to manufacture DWC at all its plants across India.
On Friday at 12.48 pm, the company's stock was trading at Rs 304.40, up by 3.6 per cent against its previous close of Rs 293.85 on BSE.