Finolex Industries Ltd, a leading manufacturer of PVC pipes and fittings and PVC resins, has announced plans to venture into the business of managing water. The move has been prompted by the looming water crisis in India, home to 18 per cent of the global population and only 4 per cent of usable water resources. Finolex is planning to create solutions which help prevent leakage due to distribution losses.

As a part of its expansion, the company is planning to increase its capacity of PVC pipes and fittings by around 40 per cent to 3.2 lakh tonnes through an additional capex of Rs. 90 crore spread over three years. The plants are spread over Pune and Ratnagiri in Maharashtra and Masar near Vadodara, Gujarat.

To reflect its new focus in water business, Finolex also unveiled a new brand identity. The company’s new tagline of ‘Tarakki Zindagibhar’ promises a lifetime of prosperity to the consumer through water management.

Prakash P. Chhabria, Executive Chairman, Finolex Industries Ltd

The company, which clocked a turnover of Rs. 2,453 crore in 2013-14, is expecting to grow at a CAGR of 15-20 per cent over the next five years, which will see its turnover cross $1 billion. The new push is expected to contribute significantly to its growth plan. While the PVC resins business currently accounts for about one-third of the turnover, the share of the pipes business is expected to grow year on year.

“As an organisation we are keen on ensuring that the available water should reach the end user in the most efficient manner. Finolex understands the value of what water can do in the urban and rural context. A pipeline which brings water to a farmer’s field is his lifeline. If this pipeline breaks down, then the farmer stands to lose not only his crop, but his entire livelihood. This is why we have laid a very high emphasis on our product quality. We consider it our primary responsibility to ensure that the pipeline not only brings life into his crop but also brings him prosperity,” said Prakash P. Chhabria, Executive Chairman, Finolex Industries Ltd.

Finolex Industries Ltd is India’s largest rigid PVC-U pipes and fittings manufacturer and the second largest PVC resin manufacturer. The company is headquartered in Pune and operates through its state-of-the-art manufacturing plants located in Urse (Pune), Ratnagiri (Maharashtra) and Masar (Gujarat). The PVC-U pipes and fittings are available in vast range (sizes, pressure classes and diameters) for diverse applications, prominently in both agriculture and non-agriculture sectors including housing, telecom, construction and industries.

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