Prince Pipes and Fittings Limited (PPFL), one of India's largest integrated piping solutions & multi polymer manufacturers with seven strategically located plants across the country, today announced the launch of its eighth manufacturing facility in Begusarai, Bihar. Through this launch, PPFL expands its pan-India manufacturing presence, makes greater in-roads into the high growth east market and strengthens its position as a leading manufacturer of highquality plastic pipes and fittings.
The state-of-the-art manufacturing unit is expected to have a total installed capacity of approximately 60,000 metric tons per annum to come up in phases over the next 6 to 9 months. The first phase has a production capacity of approx. 24,000 metric tons per annum, producing PVC and CPVC pipes and fittings. The facility will cater to eastern markets, as PPFL aggressively continues to expand its pan-India marketing, distribution, and manufacturing presence. The Company's other plants are located in Sangareddy (commissioned in 2021), Jaipur, Kolhapur, Chennai, Haridwar, Dadra and Athal.
Mr. Parag Chheda, Joint Managing Director, Prince Pipes and Fittings Limited, said, "Our new integrated pipes and fittings manufacturing facility in Begusarai has commenced commercial production on schedule and at an opportune time when the industry is witnessing rapid consolidation. We thank the team for their tremendous efforts and aggressive execution intent. The facility has started manufacturing pipes and fittings. The plant strengthens PPFL's strategic presence across India through 8 manufacturing units and will serve to scale up our penetration in eastern India, a key region of focus for the Company. This will add greater marketing speed, faster local delivery and cost-efficiency as freight constitutes a significant part of our cost structure."
Shares of Prince Pipes And Fittings Limited was last trading in BSE at Rs. 248.05 as compared to the previous close of Rs. 240.25. The total number of shares traded during the day was 67278 in over 2290 trades.
The stock hit an intraday high of Rs. 250.55 and intraday low of 237.70. The net turnover during the day was Rs. 16608552.00. |
