HIL to acquire pipes and fittings brand Topline for Rs 265 crores

HIL Ltd, a part of the USD 2.9 billion CK Birla Group, has signed an agreement with Crestia Polytech for the acquisition of Topline, a popular brand of pipes and fittings in Eastern India along with Crestia’s four wholly owned subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers for Rs 265 crore. Crestia and its subsidiaries, with an estimated turnover of Rs 330 crore in FY24, are strong players in the pipes, fittings and water tank sector with three flagship brands: Topline, Rockwell, and Soniplast.

The company stated that the acquisition is a significant step towards its commitment to further accelerate its fast-growing pipes and fittings business in the estimated Rs 55,000 crore Indian PVC pipes and fittings market. With a complementary portfolio of products, technologies and market footprint, HIL said that it will also help significantly scale its production capacity and nearly double its revenue.
 
Commenting on the acquisition, Avanti Birla said, "The agreement to acquire Topline perfectly aligns with our ambition, and is part of our growth strategy for the pipes and fittings business at HIL. The combined synergies of the two organisations will broaden the product portfolio, manufacturing capacity and market reach for us. Our ambition is to be five times our current size in this category by 2026. The acquisition offers immense growth potential. It not only doubles our revenue but also immediately enhances our production capacity three-fold, especially in the strategically important Eastern region. We also gain access to Topline’s significant channel presence across 15 states, with the East being a stronghold. Significant government and private investments expected across infrastructure, construction, real estate and agriculture sectors ensures a place for HIL in a fast paced transformation journey. We are committed to delivering exceptional products and services to our customers.” 
 
Akshat Seth, Managing Director and CEO of HIL, said, “The unique capabilities of Topline perfectly complement HIL’s portfolio and opens new product segments and markets for us. This acquisition will enable our entry into large segments such as high-density polyethylene (HDPE), medium density polyethylene (MDPE) and water tanks. In fact, we will nearly double our SKU offerings. Access to patented technologies in electrofusion fittings and water tanks will position us among the top tier players. This also enhances HIL's presence in significant government projects and secures JJM (Jal Jeevan Mission) approval across 12 states. We will now be able to serve customers in sectors such as agriculture, telecom and natural gas. We congratulate the founders of Topline, Pawan Kumar Palriwal and Dushyant Palriwal for having built a strong brand, an innovative portfolio of products and a state-of-the-art manufacturing facility. HIL will continue to draw upon their strong research, technology, and market expertise to take the brand to even greater heights.”