TIJARIA POLYPIPES LTD Share price

Tijaria Polypipes Limited started as a Partnership Firm as Tijaria Overseas Vinyl' in year 2000, which was converted into a Private Limited company as Tijaria Polypipes Private Limited' on July 17, 2006. Later, the Company got converted into Public Limited Company dated July 20, 2006. The Company is engaged in manufacturing in two segments viz. Plastic and Textile. In the Plastic Division, the main products of the Company are HDPE Pipes, Sprinkler Irrigation System, Drip-Irrigation System, Mini Sprinkler System, Green House, Micro irrigation, uPVC Pipes, SWR pipes & Fittings, Electrical uPVC Conduit Pipes & Fittings, PLB ducts, DWC Pipes and uPVC Casing Pipes. These products are used in irrigation, telecommunication, industrial, and infrastructure and housing sector. The Plastic Division runs under the brand name of Tijaria' and Vikas'. In the Textile Division, the Compnay's main product is mink blankets. Tijaria is producing a huge range of products starting from the pipelines to all the extensive accessories aiding their products. May it be the fittings, tools or any smallest possible accessory. In 2009, the company entered into a consignment sale agreement with an overseas consignee Independent Fruit Trade B.V., Holland for sale of Indian Grapes. The company purchased grapes from the various farmers in the State of Maharashtra and sold under the said consignment agreement to the overseas consignee. The company entered in an agreement with Ricky Mathur & Associates, Architects Interior Designers and Planners; Jaipur dated May 12, 2010 for providing project design and consultancy regarding setting up of the proposed expansion cum diversification project of the company. Also, they entered into an agreement with K.B. Bhatt, Surat dated May 12, 2010 for providing technical consultancy regarding setting up of the proposed expansion cum diversification project of the company. In September 2011, the Company came out with a Public Issue of 1,00,00,000 Equity Shares by raising funds aggregating Rs 60 Crores. The Equity Shares of Company got listed on the Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. effective from October 14, 2011. The Company commenced production and sales of Mink Blanket on 17 September 2012. Due to initial stage of POY, DTY and Mink blankets products, the company could not manage the adequate profit for financial year 2012-13. Worldwide economic slowdown coupled with hostile competition from china and rise in price of raw material and crude prices affected the textile division of company adversely in 2013-14. Its cost of production increased substantially with no similar increase in price realization of finished product. The company was not even able to service the interest on loans and therefore decided to temporarily to stop the production of yarn and decided to give the plant on rent to contribute to the cash flow of the company. To monetize the immovable properties to reduce the debt burden and to bring efficiencies and cost reduction, pipe plant was shifted to Sitapura unit. The performance of the textiles division of company was adversely in 2014-15 due to worldwide economic slowdown, hostile competition from china, rise in price of raw material and rise in crude prices. The company was not even able to service the interest on loans and therefore decided to temporarily stop the production of yarn and decided to give the plant on rent to contribute to the cash flow of the company. Excepting for three months, the company was not even able to rent it out in the absence of takers. On 20 June 2014, SEBI passed an order directing the company to call back project advances for Rs.20.4 crore from the vendors and keep in a separate account till further directions, which has been challenged by the company by filing appeal before the SAT, Mumbai. During the financial year ended 31 March 2017, the company focused on HDPE/PVC pipes, agricultural implements under the brand name 'Vikas' and 'Tijaria'. It executed few supplies to infrastructure projects, irrigation projects of the government, telecom companies. The company's mink blanket product have performed well both in domestic and overseas market. The Company diversified its Business into the Textile Industry by entering into the Medical Divisions in 2022-23.