Our operations in India continue to expand and diversify rapidly despite facing more challenging market conditions in 2022.

After a strong start to the year, our performance in the region was impacted by declining and volatile resin prices, affecting margins, and deteriorating demand. In addition, poor weather affected the peak agriculture season.  

Ashirvad, our Indian local brand, has grown swiftly since it came fully into the Aliaxis family in 2018. Starting as a column pipes company, it has become a multi-faceted business addressing all four of our main markets, construction, industry, infrastructure, and agriculture. We now stand among the leaders in the dynamic Indian market. 

Our teams have become adept at developing new solutions for customers and getting them to market at high speed, backed by our strong research hub in Bengaluru. In 2022, 20% of our revenues in the region came from new products and solutions – a superb performance. 

Our scientists were instrumental in developing and launching the new anti-microbial water tank in under a year and have been doing great work on developing light-weight valves that are less carbon intensive to produce. They were also behind the launch of the Artistry front of wall range of bathroom and kitchen fittings and fixtures, a first for Aliaxis. 

We were delighted to confirm a €48 million investment in a state-of-the-art plant in the central, south-eastern Telangana region, during the year. This follows the construction and extension of the Bhiwadi plant serving the north of the country. Three more greenfield plants are to come, as we expand our capacity towards the East and the North. We are successfully building a national footprint with the ability to reach customers right across India.