CK Birla group firm HIL Ltd has signed an agreement with Crestia Polytech for the acquisition of Topline, a brand of pipes and fittings in Eastern India, along with the company's four wholly owned subsidiaries at a cash consideration of Rs 265 crores.

Crestia and its subsidiaries — Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers — have an estimated turnover of Rs 330 crore in 2023-2424. As per investor disclosure, the polymer solution business of HIL was Rs 403 crore as of December 2023.

The company's MD and CEO Akshat Seth told The Telegraph that the acquisition will almost double the revenue from the segment and the company will expand its manufacturing capacity by three times. With the proposed acquisition, HIL will have an additional capacity of around 83,500MTPA in the east.

"We charting the next phase of growth of HIL and pipes and fittings would be one of the pivotal segments. Our aspiration is to grow at least 5 times in this segment. We are expecting to be north of Rs 2000-2500 crore in 3 years and in that context, the acquisition is significant," he said.

"Today we have manufacturing footprint in north, west and south and this gives us now a strong foothold in the eastern market as well."