The Watertec Story with N.G. Anand, Leader Chief and a Part of the Leading group of Watertec (India) Pvt. Restricted.

Watertec (India) Pvt. Restricted, the Coimbatore-based shower fittings and extras major contacted a turnover near Rs. 200 crores in FY 2015-16. As of late, the organization differentiated into the CPVC/UPVC Lines and Fitting space to use its immense vendor organization and aptitude in the polymer-based shower fittings portion. Here, we reveal the excursion of this uncelebrated unexpected, yet invaluable treasure, which is currently outfitting to contract Rs. 500 crores in incomes in the following five years. Peruse on, to figure out more.

Watertec (India) Pvt. Limited, the Coimbatore-based bath fittings and accessories major, touched a turnover close to Rs. 200 crores in FY 2015-16. Recently, the company diversified into the CPVC / UPVC Pipes & Fitting space to leverage its vast dealer network and expertise in the polymer-based bath fittings segment. Here, we uncover the journey of this unsung hidden gem, which is now gearing up to touch Rs. 500 crores in revenues in the next five years.

As we began our research to uncover India’s best mid-market companies, one of the first things we did was to identify cities where entrepreneurship has flourished for years, if not decades. The company was close to hitting a turnover of Rs. 200 crores in FY 2016, it was debt free, and, most importantly, it had carved a niche for itself as the market leader in the polymer-based bathroom fittings and accessories segment.

Watertec (India) started its operations in 1997 by spotting a gap in the market for plastic bath fittings and accessories. In its first year of operations, the company touched revenues of Rs. 1 crore, scaling up slowly but steadily to Rs. 7 crores in 2006. At that time, N.G. Anand, a senior-level professional at Pidilite Industries, Mumbai came on board as COO to spearhead the operations and put the company on a rapid growth path.

Anand says, One of the key reasons why we were able to reach almost Rs. 200 crores in revenues, is that the operating management had a free hand. Anand believes that Watertec’s USP lies in two areas; One, the quality of its bath fittings and accessories, thanks to the usage of high-quality polymers and patented technology from Watertec / Malaysia, and two, its 4000-strong dealer network that ensures the availability of products to its end users all over the country. Overall, the bath fittings sector is dominated by metal-based players like Jaguar, Grohe, Parryware Kohler, etc.

Anand says, “I believe over 90 percent of the market is taken by the metal players. But, in the remaining 10 percent, we’re the market leaders.” Watertec is probably the only branded, organized player in the plastics segment, which caters to public places, budget residential/commercial segments, and government schools, hospitals, and the like.
When we quizzed Anand on some of his top priorities today, he says, the biggest focus is to remain the market leader and penetrate the markets further.

Anand believes, over time, there will be several other organized players who’ll enter the polymer-based bath fitting sector. He’s specifically referring to the entry of large piping players like Ashirvad and Supreme into the bath fittings segment. Over the last few years, we were the only organized players in this segment.

As part of its related diversification strategy, the company is extremely focused on scaling up the CPVC and UPVC business, which was started almost three years ago. “We’re putting a lot of focus on several new products; We’re gearing up to grow the SWR pipes business and over time, you’ll see us get into fire-resistant pipes, underground drainage pipes, column pipes, etc,” says Anand.

For the Pipes segment, Watertec has set up a state-of-the-art production facility spread over 6.5 acres at Vagarayampalayam, 30 km away from Coimbatore for injection molding and extrusion operations. Anand says that the next year is focused on increasing penetration in the bath fittings segment and consolidation and scaling up of the pipes & fittings division. Overall, in the next five years, the company aspires to hit the Rs. 500 crore revenue mark and capture a high market share in both its business divisions.

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