Pringle Homeware Invests in Manufacturing Expansion, Targets Rs 350 Crore Revenue by FY29

Pringle Homeware is stepping up investments in manufacturing as it looks to expand beyond North India. The company has committed Rs 80 crore towards capacity expansion and is targeting Rs 350 crore revenue by FY29.

The company is investing Rs 70 crore in a new 10-acre manufacturing facility in Sonipat and another Rs 10 crore in its existing 1.25 lakh sq ft facility at Kundli to add new machinery and expand production capacity.

### Manufacturing Expansion Plans

The new facility will be developed in phases, with the first phase expected to become operational by 2028 and the second by 2029. The expansion will be funded through internal accruals, with the company continuing to remain bootstrapped.

Co-founders Vijay Singhania and Ajay Singhania stated, "We have always been EBITDA positive and have done around 10 per cent EBITDA. Even through the expansion, we plan to remain bootstrapped and maintain around 10 per cent EBITDA."

### Current Operations and Expansion Plans

Pringle currently manufactures around 20,000 mixer-grinders and 15,000 induction cooktops every month. Mixer-grinders remain its strongest category, with the company offering four-five proprietary models.

The expansion comes as the 2005-founded company moves from a predominantly North India general-trade business towards a pan-India, omnichannel model. After generating around Rs 80 crore revenue last year, primarily from North India, Pringle is targeting Rs 120 crore this fiscal.

### Omnichannel Expansion and Revenue Growth

The company plans to add another 15 distributors across seven states by year-end and increase its retail network from 25,000-plus dealers to 40,000-plus retailers. Pringle has also launched its D2C website and e-commerce operations, with online currently contributing around 10 per cent of revenue.

Over the next three years, Pringle expects its revenue mix to shift to 70 per cent offline and 30 per cent online, from the current 90:10 split.

### Revenue Growth Projections

The company expects revenue to cross Rs 350 crore by FY29, while the full commissioning of the new facility could take the business beyond Rs 500 crore over the next five-six years.

| | Current | Target | | --- | --- | --- | | Revenue (Rs crore) | 80 | 350 | | Revenue growth | 30% YoY | - | | EBITDA margin | 10% | 10% | | Online revenue contribution | 10% | 30% | | Offline revenue contribution | 90% | 70% |