Belgium-based Aliaxis’ Indian subsidiary, Ashirvad Pipes, is set to invest Rs 4 billion in establishing two new greenfield manufacturing facilities in Chennai and Hyderabad by FY27. This expansion is part of the company’s strategy to enhance its production capacity and strengthen its presence in India’s Rs 800 billion pipes, fittings, and water tanks industry.

Ashirvad Pipes currently holds a 12 per cent share in the organised sector and has a strong foothold in South India, where it commands a 50 per cent market share. With the planned expansion, the company aims to increase its national market share to 18 per cent by FY27.

The company is also targeting significant revenue growth, projecting an increase from Rs 65 billion in FY24 to Rs 90 billion by FY27. A key player in the CPVC pipes and water tanks segment, nearly half of its revenue is generated from CPVC products.

In addition to its expansion plans, Ashirvad Pipes has entered into a partnership with Jadavpur University to support research in new molecule development. Currently, India accounts for 17 of Aliaxis’ global revenue, highlighting the country’s importance in the company’s overall growth strategy.

News source: Newsonprojects