Overview

Detailed Summary

Prince Pipes and Fittings Limited is an integrated Indian polymer piping solutions provider manufacturing UPVC, CPVC, PPR, HDPE and related fittings, valves and water tanks and marketing through brands including Prince, Trubore, Storefit and Aquel across a pan-India distribution network of 1,500+ channel partners and eight manufacturing facilities.
Recent financials show Q3 FY26 revenue of ₹573 crore and 9M revenue of ₹1,748 crore, with Q3 sales volume at 42,575 MT (+3% YoY) and 9M volumes at 1,29,071 MT (+2% YoY); Q3 EBITDA was ₹28 crore (5% margin) and 9M EBITDA ₹122 crore (7% margin), while 9M PAT was ₹17 crore after an exceptional labour-code provision.
Key strategic developments include launch of in‑house SmartFit Plus CPVC with reported 6–7% cost advantage versus prior compounding arrangements, commissioning of Begusarai plant in 2025, and the Aquel bathware asset purchase which extends Prince Pipes into higher margin bathware and modern plumbing, supporting product mix premiumization.
Operational focus has shifted to working capital optimization and utilization gains: working capital days improved to 66 in 9M FY26 (receivables 49 days, inventory 76 days) and management targets mid‑40s receivables and stable inventory in the 70–75 day range while pursuing distributor finance, JIT sourcing and decentralized production to improve cash conversion and margins.
Prince Pipes is also investing in brand-building and ESG: new campaign “India Ki Pragati Ka Taj,” sustained BTL spend and recognized sustainability metrics including ~24% energy from renewables, IGBC certifications for plants and Great Place to Work recognition, positioning the company on triple-bottom-line goals alongside growth.

Sector: Industrial Products
Industry: Plastic Products - Industrial
Market Cap: 2,818 Cr
Volatility: High Risk
P/E Ratio: 64.1
Industry P/E: 35.0
PEG Ratio: 0.7
P/B Ratio: 1.8
52W High: 387.90
52W Low: 204.60

Sales CAGR

1Y: -1.75%
3Y: -1.70%
5Y: 9.06%
10Y: —

Profit CAGR

1Y: -76.36%
3Y: -44.28%
5Y: -17.45%
10Y: —

ROE

TTM: 1.46%
3Y: 7.74%
5Y: 12.05%
10Y: 13.87%

ROCE

TTM: 2.67%
3Y: 10.49%
5Y: 16.47%
10Y: 18.86%

Technicals

Oscillators

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

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Peers

Industrials Capital Goods Industrial Products

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PRINCEPIPE		239.80	2,818 Cr	64.12	1.77	0.20	1.46	2.67	1.85
JISLJALEQS		29.48	2,408 Cr	144.88	0.40	0.00	1.01	5.42	0.06
APOLLOPIPE		435.35	2,053 Cr	131.13	2.49	0.15	3.12	5.04	1.22
JAICORPLTD		115.64	2,026 Cr	11.72	1.39	0.43	11.44	12.75	11.33
RMDRIP		43.00	996 Cr	70.49	11.48	0.00	36.40	36.97	22.97
PREMIERPOL		55.55	566 Cr	20.20	4.29	0.28	19.90	27.29	16.96
SHISHIND		14.04	563 Cr	74.26	3.59	0.00	8.46	7.70	3.15
Median: 7 Co.	—	55.55	2,026 Cr	70.49	2.49	0.15	8.46	7.70	3.15

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	656	619	740	604	622	578	720	580	595	573
Expenses	562	543	648	546	576	575	665	541	539	545
Operating Profit	94	76	92	58	46	2.96	55	40	55	28
OPM %	14.35	12.23	12.47	9.64	7.34	0.51	7.62	6.82	9.27	4.87
Other Income	22	3.01	5.33	2.57	3.94	1.52	5.72	2.74	1.62	1.94
Interest	0.69	2.71	1.35	1.45	1.64	3.25	3.34	5.20	4.48	-3.76
Depreciation	23	23	24	26	28	26	27	31	32	34
Profit Before Tax	93	53	72	34	20	-25	30	6.36	20	0.04
Tax %	23.91	29.07	24.44	26.70	28.00	18.90	19.24	24.21	25.95	925.00
Net Profit	71	38	55	25	15	-20	24	4.82	15	-0.33
EPS in Rs	6.39	3.40	4.94	2.23	1.33	-1.85	2.19	0.44	1.32	-0.21

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,330	1,321	1,572	1,636	2,072	2,657	2,711	2,569	2,524	2,524
Expenses	1,084	1,152	1,388	1,407	1,710	2,241	2,461	2,261	2,362	2,362
Operating Profit	246	169	184	229	362	416	250	307	162	162
OPM %	18.51	12.79	11.71	13.99	17.46	15.64	9.23	11.97	6.41	6.41
Other Income	2.48	6.03	7.13	6.94	18	5.47	8.55	34	14	14
Interest	36	36	36	33	21	14	11	6.50	9.67	9.68
Depreciation	33	38	44	52	59	70	83	91	107	107
Profit Before Tax	96	95	111	151	299	337	165	244	59	59
Tax %	22.65	23.54	26.21	25.28	25.85	25.96	26.34	25.13	26.70	26.69
Net Profit	74	73	82	113	222	249	121	182	43	43
EPS in Rs	—	—	—	9.31	20.02	22.57	10.98	16.50	3.90	3.74
Dividend Payout %	0.00	0.00	0.00	8.50	17.37	15.47	0.00	6.06	12.82	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	45	90	90	110	110	111	111	111	111
Reserves	198	227	309	728	933	1,155	1,253	1,434	1,466
Borrowings	295	324	251	248	88	152	63	130	277
Other Liabilities	223	339	384	325	451	522	502	449	466
Total Liabilities	761	980	1,034	1,410	1,583	1,939	1,929	2,123	2,319
Fixed Assets	269	345	363	489	503	646	681	798	961
CWIP	18	15	62	7.53	77	23	24	35	20
Investments	0.73	0.74	0.78	0.63	1.46	12	92	38	27
Other Assets	473	620	608	913	1,002	1,259	1,133	1,252	1,312
Total Assets	761	980	1,034	1,410	1,583	1,939	1,929	2,123	2,319

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	97	162	219	102	292	-20	360	33	119
Cash from Investing Activity	-68	-170	-105	-368	-70	20	-142	-126	-235
Cash from Financing Activity	-26	5.54	-105	257	-214	22	-128	48	120
Net Cash Flow	2.67	-2.49	8.66	-8.83	8.39	23	90	-45	4.09

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%
FIIs	6.24%	6.12%	5.01%	5.74%	5.15%	6.44%	7.27%	6.06%	6.19%	3.75%	3.71%	3.54%
DIIs	15.75%	16.38%	18.56%	18.40%	18.53%	18.37%	17.53%	16.44%	14.98%	15.73%	15.96%	15.61%
Public	17.06%	16.56%	15.49%	14.92%	15.37%	14.25%	14.26%	16.55%	17.89%	19.58%	19.39%	19.91%
Total Shareholders	2,47,938	2,35,368	2,05,896	2,00,095	2,05,460	1,83,979	1,87,981	1,97,576	1,99,682	2,00,249	1,97,742	1,93,422

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan