Malpani Pipes and Fittings Limited

BSE: MALPANI · Plastic Products - Industrial

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Snapshot

Unlock Malpani Pipes and Fittings Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Malpani Pipes and Fittings Limited manufactures and distributes high-density polyethylene and unplasticized polyvinyl chloride pipes, alongside specialized irrigation systems. The company serves the agriculture, water supply, telecommunications, and industrial infrastructure sectors.

Business Model

The company generates revenue through the manufacturing and sale of piping infrastructure and irrigation solutions using extrusion and injection molding technologies. It operates primarily through a distribution network targeting rural and semi-urban markets for both government projects and private farming.

Growth Outlook

Growth is driven by the increasing demand for essential piping infrastructure in government-led water supply projects and the expansion of private farming initiatives. The company continues to leverage its manufacturing capabilities to meet domestic quality standards in the SME sector.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of polymers and petrochemical-based raw materials can significantly impact profit margins.
  • Regulatory and Policy Risk. The company's reliance on government projects makes it vulnerable to changes in public spending and infrastructure policy.
  • Competitive Intensity. The plastic piping industry is highly fragmented, leading to intense price competition from both organised and unorganised players.
  • Geographic Concentration. A heavy focus on rural and semi-urban Indian markets exposes the company to localized economic downturns and agricultural cycles.

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Peers · Plastic Products - Industrial

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Malpani Pipes and Fittings LimitedMALPANI
₹64 Cr10.0%-25.3%
Dhabriya Polywood LimitedDHABRIYA
₹598 Cr19.8311.9114.4%21.2%28.1%34.1%+43.8%
Shish IndustriesSHISHIND
₹438 Cr54.6826.8215.6%13.3%6.3%8.8%+37.8%
Captain PolyplasCPL
₹384 Cr13.6810.2045.5%11.1%16.3%24.0%-5.7%
Candour TechtexCANDOUR
₹157 Cr42.5915.74-69.1%18.9%4.5%6.7%-11.9%
Jain Irrigation Systems LimitedJISLDVREQS
₹41 Cr15.164.819.9%12.7%0.1%6.8%-32.0%

As of Mar 2026

Financials