Welspun to Invest INR 2,400 Crore in Sintex; Targets 5% Share Pipes Market by 2030 While continuing to grow in the premium water tank segment, which sees around 12 per cent growth, the company is realigning capacity to reduce freight costs and expand its reach, particularly in tier II and III cities.
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The Welspun Group is steering its newly acquired brand Sintex into fresh territory beyond its well-known water storage tanks, with an ambitious plan to capture 5 per cent of India's highly competitive pipes market within the next seven years.
Sintex, which was acquired by Welspun in March 2023 through a corporate insolvency resolution process for INR 1,251 crore, is now being repositioned into new verticals including pipes, water recycling, and electrical components. The diversification strategy reflects the Goenka family-led group's aggressive investment approach toward expanding Sintex's capacity, product offerings, and national footprint.
"So our plan is to get into all the different categories. We are in the storage for water tanks. We are getting into transportation, which is the full range of pipes. We will get into the treatment of water as well," said Yashovardhan Agarwal, managing director of Welspun BAPL and director at Sintex, in an interview with PTI.
Agarwal revealed that Sintex has already begun prototyping for its pipes business and is targeting a nationwide presence in under a year. Additionally, the company is entering the water recycling space, with a focus on water reclamation and harvesting. "We have already announced last year, INR 2,400 crore as investment in capacity, in which INR 300 crore to INR 350 crore has already been invested," he added.
The group has inherited five manufacturing units from Sintex and added three more, including a newly acquired firm, Weetek Plastics in Raipur, for INR 75 crore. "We are already tripling its capacity. We have started a plant in Sonipat near Delhi for tanks, and Bhopal, the biggest one right now, is for the full range of pipes," Agarwal said.
Sintex currently has a INR 600 crore business, after shedding non-core segments post-acquisition. While continuing to grow in the premium water tank segment, which sees around 12 per cent growth, the company is realigning capacity to reduce freight costs and expand its reach, particularly in tier II and III cities.
"When we acquired the company, it was in shambles. You have to fix the company inside. You have to bring transparency. Now the results are going to come back," said Agarwal.
