Tijaria Polypipes Ltd - Stock Valuation and Financial Performance

Tijaria Polypipes Limited which is based at Jaipur, was initially started as a partnership firm under the name of “Tijaria Overseas Vinyl” in the year 2000 which was later on converted on continuous basis in to a Private Limited Company on July 17, 2006 and was subsequently converted into a Public Limited Company with effect from July 20, 2006. The company through its vision of learning and constant innovation has become a premier name in the industrial, agricultural, infrastructure, domestic and telecommunication fields. The company under the dynamic and exceptionally impeccable leadership of Alok Jain Tijaria, the managing director along with other promoter directors Vikas Jain Tijaria,Praveen Jain Tijaria and Vineet Jain Tijaria have made Tijaria Polypipes a highly successful and quality oriented company in the cosmic market. The company is a winner of ‘NATIONALAWARD 2008’ for Quality Production (Special Recognition Award) awarded by the Ministry of Micro, Small and Medium Enterprises, Government of India. The company is also recipient of ‘RASHTRIYA UDYOG RATNA AWARD’ by Center for Educational Development Research for excellence in their respective field.

Business profile:

The company is an ISO 9001: 2000 Certified company, manufacturing various kinds of high grade plastic based pipes viz., HDPE, MDPE, LDPE, LLDPE, uPVC, PPR Pipes and Sprinkler systems under the brand name of TIJARIA and VIKAS.

Market base & Customers:

The market is well represented by the company in all segments. The company is participating in tenders and supplying the products to government enter prices like BSNL, etc. and in private sector to Reliance Communication in bulk and selling the products in the retail segment through more than 250 dealers spread across the country. The company is having its branch offices at Mumbai, Ahmedabad, Hyderabad, Lucknow and Indore and some pilot offices on card, hence the ambit and scope of the company and its products is amplified. Since the products offered by the company have wide use, acceptability and applicability, the customer base of the same is quite wide.

Major Customers:

Its few major customers, interalia, include Bhumi Mercantile, Gammon India, Bharat Sanchar Nigam Limited, Larsen & Toubro; Mahindra World City (Jaipur) who contributed around 70% of its total sales turnover for the financial year ended March31,2010.

Product Mix:

The company has a product mix to cater to the increasing requirements of its customers. Its product offerings include HDPE pipes ,PVC pipes, LLDPE pipes, HDPE DWC pipes, PLB HDPE Ducts, MDPE pipes, uPVC RIGID and  BLUE CASING pipes, Pet Granules , MICRO/DRIP Irrigation System, SWR PIPES and  FITTINGS, PPR  Pipes and Fittings, HDPE Sprinkler System. These products are used in irrigation, telecommunication, industrial, and infrastructure and housing sector. The company believe that this range of products would allow its existing customers to source most of their product requirements from a single vend or and also enable to expand its business from existing customers, as well as address a larger base of potential new customers. Further the flexible manufacturing infrastructure helps to change its product mix in response to changes in market demand.

Installed Capacity & Production :

Presently, the company is manufacturing an array of plastic pipes and has an installed capacity of 9944MT per annum for HDPE Pipes, 4300 MT per annum for PVC Pipes and 3600 MT per annum for Pet Flakes. The company produced 6330MT and 8031 MT for HDPE Pipe, 1909 MT and 980 MT for PVC Pipe, 154MT and 53MT for Pet Flakes Production in 2009-10 and 2008-09 respectively.