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Q1 FY26 volumes for Prince Pipes and Fittings rose 4% to 43,735 MT, but revenue dipped 4% to ₹580 Cr due to price fluctuations. EBITDA stood at ₹40 Cr (7% margin), with PAT at ₹5 Cr, impacted by ₹15-20 Cr inventory losses. Management expects high single-digit to low double-digit volume growth ahead, with July showing a strong start. Margins are set to improve from Q2, with H2 significantly better as inventory losses subside. Bihar plant's Phase 2 completes by Q2 FY26, boosting capacity. Full-year Bathware revenue is targeted at ₹50-60 Cr. The company is confident in future growth, driven by strategic focus and demand recovery.