Birla HIL Pipes, a division of the USD 3-billion CK Birla Group, has introduced a new leak-proof solution in its pipe and fittings range. This launch is part of the company’s broader strategy to offer more value-added products, aiming to counteract price fluctuations and enhance its premium offerings.
In a recent statement, Birla HIL Pipes, known for its home and building material solutions, announced the introduction of its TrueFiT leak-proof technology. This innovation is designed to minimize the need for frequent repairs and maintenance, providing long-term reliability for consumers.
HIL Ltd’s Managing Director and CEO, Akshat Seth, emphasized that the company’s focus on innovation is driven by the goal of addressing everyday consumer needs. The launch of TrueFiT and other value-added products is expected to help the company navigate price volatility and elevate its product portfolio.
In the April-June quarter, the CK Birla Group company reported a 9% increase in revenue, reaching Rs 1,107 crore compared to Rs 1,026 crore during the same period last year. However, the profit after tax saw a significant drop of 78%, falling to Rs 13 crore from Rs 58 crore a year earlier.
Despite the challenges, the pipes and fittings segment achieved notable success, with revenue surpassing Rs 150 crore for the first time and volumes doubling to 10,000 MT, outpacing market growth. Looking ahead, HIL Ltd is targeting consolidated annual revenue of USD 1 billion (approximately Rs 8,390 crore) within the next three to four years.
