Welspun Group, which acquired Sintex through the corporate insolvency resolution process in March 2023 for Rs 1,251 crore, is expanding the Sintex brand beyond its core plastic water storage tank business. The company now aims to diversify into segments like pipes, water recycling, and electrical products, with a target of capturing 5% of the highly competitive pipes market in the next seven years.
Sintex, currently operating in the premium water tank segment, is also venturing into water transportation, including a range of pipes, and plans to introduce water treatment and reclamation solutions. In addition, the company is focusing on expanding its electrical business with products like junction boxes and meter boxes.
Welspun is investing heavily in Sintex's growth, including Rs 2,400 crore for capacity expansion. So far, Rs 300-350 crore has been invested, and additional plants are being developed in locations such as Sonipat and Bhopal. Sintex is also tripling the capacity of its newly acquired Raipur plant, Weetek Plastics.
Agarwal, Managing Director of Welspun BAPL and Director of Sintex, emphasized that Sintex is targeting Tier II and III cities to increase its reach, aiming to make products more affordable. Sintex currently holds a 10% share of the Rs 6,000 crore water storage tank market, and with its new strategies, it plans significant growth across its
product portfolio.
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