Prince Pipes And Fittings Limited — Investor Meet, 28-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Prince Pipes reported Q4 revenue of ₹720 Cr with volumes down 2% YoY at 50,454 MT. EBITDA fell 41% to ₹55 Cr (7.6% margin). Full-year revenue was ₹2,524 Cr, EBITDA ₹162 Cr (6.4%), and PAT ₹43 Cr (1.7%). Inventory losses hit ₹25 Cr in Q4, expected ₹85-90 Cr in FY25.

The Begusarai plant began at 24,000 MT capacity, targeting 60,000 MT in 6 months, adding ~20,000-25,000 MT volumes in FY26. Management expects double-digit volume growth driven by PVC affordability, real estate, and capacity ramp-up, aiming for 12% EBITDA margin long term.

Bathware brand Aquel generated ₹30 Cr revenue with a ₹4.5 Cr loss in Q4; breakeven expected in 4-5 quarters. FY26 capex is ₹220 Cr focused on plant ramp-up and Bathware expansion. CPVC sales grew double digits, outpacing PVC, supporting market share gains. Management sees PVC prices stabilized with cautious optimism on demand. Focus remains on profitable growth, distribution, product innovation, and leadership amid rising competition.