Maruti Ispat & Pipes unveils a new brand
Abhishek Agarwal, CEO of Maruti Ispat & Pipes Pvt Ltd, expressed his enthusiasm for the company's future, stating, "Our goal is to strengthen our position in the steel industry and increase market presence by providing high-quality products to our customers with a sight on IPO. Our efforts to expand in Northern states like J&K, Punjab, Uttarakhand and Eastern states of West Bengal and Odisha will greatly contribute to this goal. The ongoing plant and capacity expansion is expected to generate additional employment for the next five years. Additionally, we are actively pursuing acquisition opportunities? He also highlighted the company's commitment to innovation, saying, "We are currently producing ERW Steel Pipes and planning to launch new product lines of galvanised pipes and galvanised hot dip iron and Galvalume pipes. These new products will cater to the growing demand in the market and significantly contribute to our growth. We are a company driven by growth and innovation and focus on building a modern product portfolio with diversification in Steel and Power. MIPPL employs over 2,000 people, reflecting its commitment to its workforce. With 1,500+ employees at its Mantralayam plant and 500+ staff across various offices, the company is set for robust growth by creating a supportive and inclusive work environment. Looking ahead, Maruti Ispat & Pipes plans a public offering and acquisition strategy to establish Maruti Ispat & Pipes as a household name by 2026. Expansion plans include entering the northern states of Jammu and Kashmir, Punjab, and Uttarakhand, as well as the eastern states of West Bengal and Odisha, creating substantial job opportunities and boosting local economies. India Ratings and Research (Ind-Ra) has affirmed Maruti Ispat & Pipes Private Limited's Long-Term Issuer Rating at 'IND BBB+', indicating the company's strong financial risk profile. Brickwork Ratings has also recognized the company's ability to improve its scale of operations and profitability, strengthen its financial risk profile, and manage its working capital efficiently.