HIL Ltd, a member of the CK Birla Group, has recently entered into a deal with Crestia Polytech. This agreement entails the acquisition of Topline, a well-known brand specializing in pipes and fittings in Eastern India, along with Crestia’s four fully owned subsidiaries: Topline Industries, Aditya Polytechnic, Aditya Industries, and Sainath Polymers, for a sum of Rs 265 crore.
HIL, previously known as Hyderabad Industries Limited, is a renowned player in the building materials industry in India. Established in 1946, the company has a rich legacy of providing innovative and sustainable solutions for construction and infrastructure development. HIL’s diverse product portfolio includes roofing solutions, building boards, pipes, and insulation products, catering to both residential and industrial segments.
With a strong focus on research and development, the company has pioneered many technological advancements in the industry, ensuring high-quality, durable, and eco-friendly products. The company’s commitment to excellence is reflected in its adherence to stringent quality standards and its efforts towards environmental sustainability. The company continues to be a trusted choice for customers seeking reliable and cost-effective building solutions.
Crestia, along with its subsidiaries, is a prominent player in the pipes, fittings, and water tank industry, boasting an estimated turnover of Rs 330 crore in FY24. The company’s success is largely attributed to its three flagship brands: Topline, Rockwell, and Soniplast. This acquisition marks a significant milestone for HIL as it seeks to bolster its rapidly expanding pipes and fittings business within the Indian PVC pipes and fittings market, estimated to be worth Rs 55,000 crore.
With a complementary range of products, technologies, and market presence, HIL anticipates a substantial increase in its production capacity and nearly double its revenue. Avanti Birla, commenting on the acquisition, expressed, “The agreement to acquire Topline perfectly aligns with our ambition and is a key component of our growth strategy for the pipes and fittings business at HIL.”
She added, “The synergies between the two organizations will expand our product portfolio, manufacturing capacity, and market reach. Our goal is to grow fivefold in this category by 2026. This acquisition offers significant growth opportunities, doubling our revenue and immediately tripling our production capacity, especially in the strategically important Eastern region.”
“Additionally, we gain access to Topline’s extensive channel presence across 15 states, with a strong foothold in the East. Given the substantial government and private investments expected in infrastructure, construction, real estate, and agriculture sectors, the company is poised for rapid growth. We are dedicated to delivering exceptional products and services to our customers,” said Avanti Birla.
Akshat Seth, serving as the Managing Director and CEO at HIL, expressed that the distinctive capabilities of Topline seamlessly complement HIL’s existing portfolio, introducing new product segments and markets. This strategic acquisition will facilitate HIL’s entry into expansive segments like high-density polyethylene (HDPE), medium-density polyethylene (MDPE), and water tanks, essentially doubling their SKU offerings.
The acquisition also grants HIL access to patented technologies in electrofusion fittings and water tanks, elevating their position among top-tier industry players. Additionally, this move strengthens HIL’s presence in key government projects and ensures approval under the Jal Jeevan Mission (JJM) across 12 states. With this expansion, HIL will be able to cater to customers in diverse sectors such as agriculture, telecom, and natural gas.
Acknowledging the founders of Topline, Pawan Kumar Palriwal and Dushyant Palriwal, for establishing a robust brand, an innovative product portfolio, and a cutting-edge manufacturing facility, Seth noted that HIL will continue leveraging their profound research, technology, and market expertise to further elevate the brand.
