Raksha Pipes looks to achieve Rs 3,000 crore revenue by FY29, Real Estate News, ET RealEstate
NEW DELHI: Raksha Pipes, a piping solutions industry and part of The Shand Group of Industries, plans to expand its capacity tenfold within the next five years. The current production capacity of the company is about 34,000 MT for PVC, UPVC, and CPVC pipes combined.
The company look to achieve a turnover of Rs 3,000 crore by FY29, with a projected annual growth rate of 20 percent. It has achieved 20% year-on-year revenue growth over the past two years. In FY23, the company reported revenues of Rs 950 crore.
Sanjay Shand, managing director of the company said, “About 50% of the sales is attributed to construction/ building solutions, 25% to agriculture, and 25% to industrial infrastructure solutions.With increased capacity utilization at all plants, we are poised for robust growth, anticipating the company’s expansion at a healthy 20-22% CAGR over FY24-FY29. As utilization levels pick up, operating leverage will drive EBITDA gains.”
Raksha Pipes is expanding its presence in urban and rural areas. It is also planning the construction of warehouses in Odisha, Bihar, and Jharkhand.
