HIL Ltd acquires Topline and subsidiaries in Rs 265cr deal to boost pipes and fittings business
HIL Ltd, a prominent entity within the $2.9 billion CK Birla Group, has taken a significant stride in expanding its market footprint by acquiring Crestia Polytech’s esteemed brand, Topline, along with its four wholly owned subsidiaries for ₹265 crores. This acquisition marks a pivotal moment in HIL Ltd’s growth trajectory, aiming to bolster its presence in the lucrative ₹55,000 crore Indian PVC Pipes & Fittings market.
The acquisition of Topline, a leading brand in Eastern India known for its pipes, fittings, and water tanks, alongside Crestia’s subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries, and Sainath Polymers, is set to significantly enhance HIL’s production capacity and nearly double its revenue. With an estimated turnover of ₹330 crore in FY 24, Crestia and its subsidiaries have been formidable players in the sector, championing three flagship brands: Topline, Rockwell, and Soniplast.
Avanti Birla, representing HIL, articulated the acquisition’s alignment with the company’s ambitious growth strategy for its Pipes & Fittings business. The amalgamation of both companies’ synergies is expected to enrich HIL’s product portfolio, manufacturing capabilities, and market reach. Birla shared the vision to quintuple the company’s size in this category by 2026, emphasizing the acquisition’s role in not only doubling the revenue but also tripling the production capacity, particularly in the strategically vital Eastern region of India.
Akshat Seth, HIL’s Managing Director and CEO, highlighted the complementary nature of Topline’s offerings to HIL’s portfolio, which will facilitate the company’s foray into large segments such as HDPE, MDPE, and water tanks. The acquisition is set to nearly double HIL’s SKU offerings, granting access to patented technologies and enhancing its standing in significant government projects. Seth also acknowledged the foundational efforts of Topline’s founders, Pawan Kumar Palriwal and Dushyant Palriwal, in building a robust brand and innovative product range.
For over 76 years, HIL has been renowned for its commitment to sustainable home and building materials, with trusted brands and innovative products that have defined its legacy. With the acquisition of Topline, HIL is poised to leverage its expanded manufacturing footprint across India and Europe and its robust presence in the Pipes & Fittings segment to meet the growing demands of the domestic, commercial, and infrastructure sectors. The move is a testament to HIL’s dedication to delivering exceptional products and services, underpinned by its strong research, technology, and market expertise.
HIL Ltd’s acquisition of Topline and Crestia Polytech’s subsidiaries is a strategic maneuver that promises to reshape the landscape of the Indian Pipes & Fittings market. It underscores the company’s commitment to growth, innovation, and sustainability, setting a new benchmark for excellence in the industry.