Maruti Ispat & Pipes unveils a New Brand and aims to invest 2000 crores in the next 5 years.

Hyderabad, 25th June 2024: Maruti Ispat & Pipes Private Limited (MIPPL), based out of Hyderabad, is a subsidiary of the MS Agarwal Group and is South India’s second-largest secondary steel manufacturer. The company is an ISO & BIS Certified Company with operations spread across Southern, Central and Western regions.

MIPPL has launched MS VAYU, a new brand it will use to sell ERW steel pipes in the market.

The company will add 6 lakh metric tonnes capacity over the next five years, it is a key part of MIPPL’s expansion plan which will further solidify its position in the market. The company also aims to extend its manufacturing facilities to new regions in order to expand swiftly to the Northern and Eastern regions of the country.

The company also plans to diversify its business across other segments as part of its strategic plans. In order to fuel its expansion and diversification plans, MIPPL intends to go public and hold an initial public offering (IPO) in FY2026.

MIPPL has always been committed to producing quality products, hence, the manufacturing unit has been equipped with modern facilities and a competent R&D team to produce quality pipes, Sponge Iron, ERW Steel Pipes and Billets from its 300 acre plant in Mantralayam, Kurnool, Andhra Pradesh.

With a goal of sustainability and future growth, Maruti Ispat is currently producing 8 MW -WHRB of power and plans to produce over 90% of its energy from clean, renewable sources like wind and solar. The business also intends to boost its energy production with alternative fuels usage for waste reduction.

Abhishek Agarwal, CEO of Maruti Ispat & Pipes Pvt Ltd, expressed his enthusiasm for the company’s future, stating, “Our goal is to strengthen our position in the steel industry and increase market presence by providing high-quality products to our customers with a sight on IPO. Our efforts to expand in Northern states like J&K, Punjab, Uttarakhand and Eastern states of West Bengal and Odisha will greatly contribute to this goal. The ongoing plant and capacity expansion is expected to generate additional employment for the next five years. Additionally, we are actively pursuing acquisition opportunities”

He also highlighted the company’s commitment to innovation, saying, “We are currently producing ERW Steel Pipes and planning to launch new product lines of galvanised pipes and galvanised hot dip iron and Galvalume pipes. These new products will cater to the growing demand in the market and significantly contribute to our growth. We are a company driven by growth and innovation and focus on building a modern product portfolio with diversification in Steel and Power.

MIPPL employs over 2,000 people, reflecting its commitment to its workforce. With 1,500+ employees at its Mantralayam plant and 500+ staff across various offices, the company is set for robust growth by creating a supportive and inclusive work environment.

Looking ahead, Maruti Ispat & Pipes plans a public offering and acquisition strategy to establish Maruti Ispat & Pipes as a household name by 2026. Expansion plans include entering the northern states of Jammu and Kashmir, Punjab, and Uttarakhand, as well as the eastern states of West Bengal and Odisha, creating substantial job opportunities and boosting local economies.

India Ratings and Research (Ind-Ra) has affirmed Maruti Ispat & Pipes Private Limited’s Long-Term Issuer Rating at ‘IND BBB+’, indicating the company’s strong financial risk profile. Brickwork Ratings has also recognized the company’s ability to improve its scale of operations and profitability, strengthen its financial risk profile, and manage its working capital efficiently.