Birla HIL Pipes Revolutionises Pipe Segment with Leak-Proof Innovation

Birla HIL Pipes has introduced a new leak-proof solution in the pipe and fittings segment as part of its strategy to premiumise its portfolio and address price volatility. The CK Birla group company's revenue grew 9% in the April-June quarter of 2022. Their new technology aims to reduce repairs and drive growth.

Birla HIL Pipes, part of the USD 3-billion CK Birla group, has introduced a new leak-proof solution in the pipe and fittings segment. This launch is part of their strategy to bring more value-added products, aimed at addressing price volatility and premiumising their portfolio.

The company announced the introduction of TrueFiT leak-proof technology, which is expected to significantly reduce the need for frequent repairs and maintenance. This move is seen as a crucial step in managing the price volatility experienced during the April-June quarter.

HIL Ltd's Managing Director and CEO, Akshat Seth, stated, 'Our innovation agenda at HIL focuses on creating solutions for everyday consumer needs.' The CK Birla group reported a 9% revenue growth in the April-June quarter to Rs 1,107 crore compared to Rs 1,026 crore in the same period last year. However, profit after tax saw a significant decline, dropping 78% to Rs 13 crore.

Despite this, the pipes and fittings segment recorded revenue exceeding Rs 150 crore for the first time, with volumes doubling to 10,000 MT, greatly outpacing market growth. HIL Ltd is targeting consolidated annual revenue of USD 1 billion (around Rs 8,390 crore) in the next three to four years.

(With inputs from agencies.)