Prince Pipes and Fittings Ltd
BSE:542907
Prince Pipes and Fittings Ltd
Prince Pipes & Fittings Ltd. manufactures plumbing-pipes, irrigation, and provides sewerage technologies. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2019-12-30. The firm distributes its products under two brands: Prince Piping Systems and Trubore Piping. The firm is engaged in manufacturing and selling of polyvinyl chloride (PVC), chlorinated polyvinyl chloride (CPVC), polypropylene random (PPR) and high-density polyethylene (HDPE) pipes and fittings primarily in India. Its product range includes FlowGuard Plus CPVC plumbing systems, Easyfit UPVC pipes, EasyFit iN, Easy Fit RE, Greenfit pipes, Silentfit pipes, Rainfit pipes, Ultrafit pipes and fittings, Drainfit pipes, Foamfit pipes, Corfit double-walled corrugated (DWC) pipes, Aquafit pipes and fittings, Safefit pipes, Storefit water tanks and Cablefit pipes.
Prince Pipes & Fittings Ltd. manufactures plumbing-pipes, irrigation, and provides sewerage technologies. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2019-12-30. The firm distributes its products under two brands: Prince Piping Systems and Trubore Piping. The firm is engaged in manufacturing and selling of polyvinyl chloride (PVC), chlorinated polyvinyl chloride (CPVC), polypropylene random (PPR) and high-density polyethylene (HDPE) pipes and fittings primarily in India. Its product range includes FlowGuard Plus CPVC plumbing systems, Easyfit UPVC pipes, EasyFit iN, Easy Fit RE, Greenfit pipes, Silentfit pipes, Rainfit pipes, Ultrafit pipes and fittings, Drainfit pipes, Foamfit pipes, Corfit double-walled corrugated (DWC) pipes, Aquafit pipes and fittings, Safefit pipes, Storefit water tanks and Cablefit pipes.
Challenging Market: Prince Pipes faced tough conditions in Q2 FY26 due to volatile PVC resin prices and weak demand, but managed to hold volumes steady despite a 9% industry decline.
Financial Performance: Q2 revenue was INR 595 crores with EBITDA margin improving to 9%, up 200 bps year-over-year, and profit after tax at INR 15 crores.
Guidance Reaffirmed: Management maintained a high single-digit volume growth target for FY26, despite muted first-half growth, expecting demand recovery in H2.
Margin Outlook: Margins expected to normalize to double digits (10–12%) by Q4, aided by better product mix, cost optimization, and volume growth.
Capacity Expansion: Phase 2 of the Bihar plant was completed, enhancing pan-India manufacturing and supporting future growth.
Bathware Progress: The Aquel bathware brand saw a 40% revenue increase in Q2, with breakeven projected within four quarters as geographic expansion continues.
Strategic Initiatives: Investments in technology, distribution network expansion, and product innovation are emphasized to strengthen competitiveness and market share.
