Plastic Products company Prince Pipes & Fittings announced Q3FY25 results Revenue: Rs 578 crore compared to Rs 619 crore during Q3FY24, change -7%. EBITDA: Rs 3 crore compared to Rs 76 crore during Q3FY24, change -96%. PAT: Rs -20 crore compared to Rs 38 crore during Q3FY24. Parag Chheda, Joint Managing Director, Prince Pipes and Fittings, said: “Our performance in Q3 was impacted by weak demand environment adversely which impacted Company and industry volumes. Low PVC prices in the open market led to low channel inventory by dealers. We expect medium term demand to remain healthy. We are implementing a wide range of multi-channel marketing strategies, brand reinforcement, and customer loyalty initiatives on Pan-India basis to enhance customer engagement and actively support the company’s sales and marketing efforts. Aquel by Prince, our Bathware vertical continues to expand presence across markets and ramping up well across North and West India. Several manufacturing and capex-led growth-oriented efforts including Bihar plant, which will be commissioned in Q4 are underway. Looking ahead, we are optimistic about the future and confident that our strategic initiatives will drive growth and further strengthen our market position.” Result PDF
Plastic Products company Prince Pipes & Fittings announced Q2FY25 results Revenue: Rs 622 crore compared to Rs 656 crore during Q2FY24, change -5%. EBITDA: Rs 46 crore compared to Rs 94 crore during Q2FY24, change -51%. PAT: Rs 15 crore compared to Rs 71 crore during Q2FY24, change -79%. Parag Chheda, Joint Managing Director, Prince Pipes, and Fittings, said: “Our performance for the quarter was led by volume expansion and a good progression in our Plumbing and SWR segments. A continuous fall in PVC prices over the months of July and August led to incessant de-stocking by channel partners which impacted on volume and profitability. Despite the fall in PVC prices, realizations remained stable QoQ on account of better sales mix. With price volatility easing out, stocking cycles have been resuming, which makes us optimistic of a more resilient performance in H2. The Bathware segment continues to progress well as we launched our first retail showrooms in Hisar and New Delhi. Our strategic marketing efforts are now directed towards establishing Aquel by Prince as a pan-India brand, by the end of this fiscal year. We continue to focus on key adjacencies to growth including building deeper customer relationships, knowledge of customers’ pain points, leveraging capabilities – all of which are positioning us well to capitalize on inherent industry growth opportunities.” Result PDF
Plastic Products company Prince Pipes & Fittings announced Q1FY25 results: Operating results continue to reflect vitality and sustained playout of several strategic growth-oriented initiatives being undertaken. Sharp increase in PVC resin prices impacted volume traction in June, as channels kept maintained sub-normal inventory. Volume Growth of 14% YoY - primarily led by growth in Plumbing and SWR segments. EBITDA at Rs 58 crore as compared to Rs 45 crore in Q1FY24, grew by 29% YoY. PAT improved by 25% YoY to Rs 25 crore as compared to Rs 20 crore in Q1FY24. Commenting on the performance, Parag Chheda, Joint Managing Director, Prince Pipes and Fittings Limited said, “In the current quarter, our improved performance is attributed to growth in our topline, led by volume growth in Plumbing and SWR segments. This reflects our focused execution of various growth-oriented initiatives. However, in June, the industry experienced a significant and unexpected increase in PVC resin prices, which led to some deferment in volume offtake in our channel. PVC resin prices have adjusted to previous levels in July and will lead to normalizing of channel inventory. Overall, we have maintained a strong operational focus through efficient cost management and increased competitive efforts. Additionally, we launched Greenfit PPR for HVAC which is the ideal material for hot & cold-water plumbing systems used in hotels, commercial spaces, malls, hospitals, and industrial applications. The Union Budget 2024-25 has outlined a roadmap for Viksit Bharat, emphasizing agriculture, rural development, regional growth, and infrastructure development, as well as nine priority areas for focused advancement. These priorities bode well for the pipes and fittings industry. We remain committed to driving volume growth and making disciplined investments across our diverse portfolio to strengthen our business progress.” Result PDF