Prince Pipes & Fittings Ltd. share price target

Quarterly Update Q1FY26

Prince Pipes' Q1FY26 result was below our estimates on key parameters. A major factor influencing the industry was the heightened volatility in PVC resin prices, which negatively impacted both volume growth and profitability across the sector. A sharp correction in these prices further resulted in inventory losses for the company in the trade channel, temporarily compressing margins in Q1FY26. The management has guided high single-digit to low double-digit volume growth for FY26E. EBITDA Margin is projected to improve going forward. Q2FY26 is expected to be better than Q1 on margin front, and the second half of...

Prince Pipes and Fittings (PRINCPIP) reported a muted quarter amid the ongoing challenges of volatile pricing and the early onset of monsoon, affecting demand.

Initiating Coverage Report

PPFL is maintaining elevated inventory levels to strategically capture market opportunities, complemented by increased distributor incentives now set at 3%. However, a spillover in inventory loss is expected in Q1FY26 as well. PPFL navigated a challenging FY25, marked by heightened PVC price volatility, channel destocking, and subdued demand due to reduced government spending....

PRINCPIP's Q1 result came broadly in line with our estimate; gained market share even after tightening credit period in Q1

MM: Growth trajectory captured in the valuations. EIM: Powering growth momentum with new launches. VGRD: Early summer sparks a robust quarter. AMBER: Ongoing challenges; maintain SELL. PRINCPIP: Mixed Q4FY24; positive demand outlook

PRINCPIP: Faucetware acquisition to accelerate bathware growth engine

PRINCPIP acquired the faucetware brand Aquel and the manufacturing facility from Klaus Waren Fixtures for Rs 600mn

AL: Margins continue to improve, maintain BUY. GRLM: Soft quarter on tepid demand environment. ORCMNT: Topline muted as volumes decline. PRINCPIP: Lacklustre quarter on sustained market share loss

Q3 PAT came in 36% below our estimate on continued market share bleed and margin pressure