Image Source: Alice Blue
Malpani Pipes and Fittings Ltd has received certification from Bharat Sanchar Nigam Limited (BSNL) for its Permanently Lubricated (PLB) duct pipes, a crucial milestone that positions the company to tap into India’s expanding telecom infrastructure market. The certification, granted on August 6, 2025, validates the company’s product quality and compliance with BSNL’s stringent technical standards, enabling it to participate in government and private sector fiber rollout projects.
This development follows Malpani’s successful IPO earlier this year and reflects its strategic pivot toward high-growth segments such as telecom, water distribution, and gas pipelines.
Key Highlights of the BSNL Certification
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Certification awarded for PLB HDPE duct pipes used in fiber optic cable installations
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Validates compliance with BSNL’s technical specifications for durability, tensile strength, and lubrication standards
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Enables Malpani Pipes to bid for BSNL tenders and other public sector telecom projects
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Opens doors to partnerships with private telecom operators expanding 5G and broadband networks
Strategic Relevance and Market Opportunity
Telecom Infrastructure Push
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India’s National Broadband Mission targets fiber connectivity to 600,000 villages by 2026
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BSNL and other operators are investing heavily in underground ducting for fiber optic cables
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PLB ducts are essential for protecting fiber cables from environmental stress and mechanical damage
Competitive Edge
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Malpani’s ducts are manufactured using high-density polyethylene (HDPE) with internal silicon-based lubrication
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The company’s Ratlam facility includes in-house testing labs for tensile, crush, and friction coefficient standards
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Certification boosts credibility and positions Malpani as a preferred vendor for large-scale deployments
Operational and Financial Context
IPO Performance:
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Listed on BSE SME platform in February 2025
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Raised ₹25.92 crore through fresh equity issuance
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Funds allocated toward plant expansion, debt repayment, and working capital
Production Capacity:
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10 production lines with an installed capacity of 11,500 MTPA
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PLB ducts now account for 18% of total output, expected to rise to 30% by FY27
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Plans underway to add two new extrusion lines dedicated to telecom-grade ducts
Revenue Outlook:
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FY25 revenue stood at ₹48.6 crore, up 34% year-on-year
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Telecom segment projected to contribute ₹12–₹15 crore in FY26
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EBITDA margin expected to improve by 120 basis points due to product mix shift
ESG and Quality Assurance
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Malpani Pipes adheres to ISO 9001:2015 standards across all manufacturing units
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The company has implemented zero-discharge water recycling systems at its Ratlam plant
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PLB ducts are designed for long life cycles, reducing maintenance and environmental impact
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All products undergo third-party testing before dispatch to ensure compliance with national standards
Future Plans and Investor Takeaway
Malpani Pipes is actively exploring partnerships with EPC contractors and telecom infrastructure providers. The company aims to expand its footprint in southern and eastern India, where fiber rollout is accelerating. With BSNL certification now secured, Malpani is poised to become a key player in India’s digital backbone.
For investors, the certification adds a layer of credibility and opens new revenue streams. As the company transitions from a regional pipe manufacturer to a national infrastructure enabler, its growth trajectory looks promising—especially in niche, high-margin segments like PLB ducts.
Source: Business Standard – August 6, 2025 Moneycontrol – August 6, 2025 Malpani Pipes Exchange Filing – August 6, 2025
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