Birla HIL Pipes introduces TrueFiT leak-proof technology

In order to handle pricing volatility and accelerate market growth, Birla HIL Pipes premiumises its range by introducing TrueFiT leak-proof technology.

In an effort to address pricing volatility and premiumise the portfolio, Birla HIL Pipes, a division of the USD 3-billion CK Birla group, recently launched a new leak-proof solution in the pipe and fittings market. In a statement, Birla HIL Pipes, a provider of building and home solutions, states that it is bringing in more value-added products to help it deal with the pricing volatility that it saw in the April–June quarter.

According to the company, their TrueFiT leak-proof technology will drastically cut down on the frequency of repairs and maintenance. “Creating solutions for everyday consumer needs is at the forefront of our innovation agenda at HIL,” says Akshat Seth, Managing Director & CEO of HIL Ltd. He continues, “The introduction of new and value-added products will aid in enhancing the portfolio and combating price volatility.”

The CK Birla group company recorded a 9% increase in revenue to ₹1,107 crore in the April-June quarter from ₹1,026 crore in the same time last year. Compared to ₹ 58 crore in the same period last year, the profit after tax decreased by 78% to ₹13 crore in the first quarter.

According to the company, the income of the pipes and fittings segment surpassed ₹ 150 crore for the first time, and volumes increased by two times to 10,000 MT, considerably exceeding market growth. In the following three to four years, HIL Ltd hopes to reach a combined annual revenue of USD 1 billion, or about ₹8,390 crore.

For more details, visit: https://hil.in/birla-hil-pipes/

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