Name: Latest research reports of Prince Pipes & Fittings Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Prince Pipes & Fittings Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	11 Sep 2025	Prince Pipes	Consensus Share Price Target	325.15	382.08	-	17.51	buy	pdf Detailed Estimates
	09 Feb 2023	Prince Pipes	ICICI Securities Limited Target	325.15	717.00	595.25 (-45.38%)	Target met	Buy	pdf post cache	Broker Report Good operational performance, better times ahead ICICI Securities Limited Prince Pipes and Fittings (PRINCPIP) reported a better than expected Q3FY23 pipe volume growth of 34.7% YoY (3-year CAGR of 12%) on a low base. Demand was driven across segments (infrastructure, plumbing and agri) and by dealer restocking, as PVC prices stabilised at the end of the quarter. pdf Copy Link Share on Share on Share on Share on Alert
	29 Dec 2022	Prince Pipes	ICICI Securities Limited Target	325.15	691.00	581.60 (-44.09%)	Target met	Buy	pdf post cache	Broker Report Demand trend improving ICICI Securities Limited Pipe demand has improved from December as PVC prices have started stabilising post FY-TD correction of ~35%. The company expects at least double digit volume growth in H2FY23. pdf Copy Link Share on Share on Share on Share on Alert
	15 Dec 2022	Prince Pipes	IDBI Capital	325.15	842.00	628.25 (-48.25%)		Buy	pdf post cache	Broker Report Prince Pipe & Fittings: Initiating Coverage IDBI Capital pdf Copy Link Share on Share on Share on Share on Alert
	01 Dec 2022	Prince Pipes	Geojit BNP Paribas Reco Target	325.15	633.00	597.90 (-45.62%)	Target met	Accumulate	pdf post cache	Broker Report PRINCE PIPES AND FITTINGS LIMITED Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	11 Nov 2022	Prince Pipes	ICICI Securities Limited Target	325.15	662.00	573.10 (-43.26%)	Target met	Buy	pdf post cache	Broker Report Tepid quarter due to inventory losses; outlook better ICICI Securities Limited Prince Pipes and Fittings (PRINCPIP) reported revenue decline of 16.4% YoY (+5% QoQ; 3-year CAGR of 14%) in Q2FY23 with volumes down 10.2% YoY (3-year CAGR of 3.6%) as dealers de-stocked due to fall in PVC prices. pdf Copy Link Share on Share on Share on Share on Alert
	18 Aug 2022	Prince Pipes	Bonanza Target	325.15	910.00	598.15 (-45.64%)		Buy	pdf post cache	Broker Report Medium term outlook remains strong despite feeble profitability due to inventory loss Bonanza Prince reported fragile volumes and margins, while the EBITDA and PAT margins saw a sharp decline (410 bps/530 bps and 510 bps/730 bps YoY/QoQ respectively) in Q1FY23. pdf Copy Link Share on Share on Share on Share on Alert
	11 Aug 2022	Prince Pipes	ICICI Securities Limited Target	325.15	713.00	608.40 (-46.56%)		Buy	pdf post cache	Broker Report H1 profitability marred by inventory losses; H2 to be much better ICICI Securities Limited Prince Pipes and Fittings (PRINCPIP) reported an EBITDA margin decline of 522bps/833bps YoY/QoQ (gross margin contracted by 900bps/651bps YoY/QoQ) due to inventory loss of ~Rs300mn-350mn as PVC prices fell during the quarter. pdf Copy Link Share on Share on Share on Share on Alert
	30 Mar 2022	Prince Pipes	Bonanza	325.15	862.00	657.15 (-50.52%)		Buy	pdf post cache	Broker Report Initiating Coverage: Value Migration (UPVC to CPVC pipes) to drive margin Expansion & industry Consolidation Bonanza Prince has been enjoying high valuations since its IPO. We believe it is well-positioned to capture incremental market share and continues to be a strong challenger brand to sector leaders. The margins were a bit shy in FY22 as PVC prices declined, but it will improve steadily in FY23-FY24. pdf Copy Link Share on Share on Share on Share on Alert
	17 Mar 2022	Prince Pipes	ICICI Securities Limited	325.15	804.00	652.60 (-50.18%)		Buy	pdf post cache	Broker Report Bright outlook; near-term headwinds likely ICICI Securities Limited We reiterate our BUY rating on Prince Pipes and Fittings (PRINCPIP) post our interaction with management and continue to believe it will be a beneficiary of growing demand for pipes, though the near-term demand environment remains tepid. pdf Copy Link Share on Share on Share on Share on Alert
	29 Dec 2021	Prince Pipes	Geojit BNP Paribas	325.15	855.00	700.10 (-53.56%)		Buy	pdf post cache	Broker Report PRINCE PIPES AND FITTINGS LIMITED Geojit BNP Paribas Prince Pipes & Fittings Ltd (PPFL), is one of the leading manufacturers of plastic pipes in India with 5.5% of overall market share. Products are marketed under brand names: Prince Piping Systems and Trubore.... pdf Copy Link Share on Share on Share on Share on Alert
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44.51% Fall from 52W High

Prince Pipes & Fittings Ltd. share price target

Prince Pipes & Fittings Ltd. has an average share price target of 385.50. The consensus estimate represents an upside of 18.56% from the last price of 325.15. View 9 reports from 4 analysts offering long-term price targets for Prince Pipes & Fittings Ltd..

Good operational performance, better times ahead

Demand trend improving

Prince Pipe & Fittings: Initiating Coverage

PRINCE PIPES AND FITTINGS LIMITED

Tepid quarter due to inventory losses; outlook better

Medium term outlook remains strong despite feeble profitability due to inventory loss

H1 profitability marred by inventory losses; H2 to be much better

Initiating Coverage: Value Migration (UPVC to CPVC pipes) to drive margin Expansion & industry Consolidation

Bright outlook; near-term headwinds likely

PRINCE PIPES AND FITTINGS LIMITED

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