Prince Pipes & Fittings Ltd
Prince Pipes and Fittings Limited is an integrated piping solution & multi polymer manufacturer. It was established in 1987 and initially manufactured PVC products. It is currently engaged in the manufacturing of polymer piping solutions in four types of polymers CPVC, UPVC, HDPE, PPR. [1]
- Market Cap ₹ 6,190 Cr.
- Current Price ₹ 560
- High / Low ₹ 776 / 505
- Stock P/E 35.6
- Book Value ₹ 140
- Dividend Yield 0.18 %
- ROCE 14.7 %
- ROE 11.4 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of 10.3% over past five years.
- Company has a low return on equity of 13.7% over last 3 years.
- Dividend payout has been low at 7.19% of profits over last 3 years
- Debtor days have increased from 66.2 to 83.1 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Plastic products Industry: Plastics Products
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|
957 | 1,007 | 1,246 | 1,315 | 1,572 | 1,636 | 2,072 | 2,657 | 2,711 | 2,569 | 2,620 | |
875 | 908 | 1,083 | 1,151 | 1,388 | 1,406 | 1,708 | 2,241 | 2,461 | 2,261 | 2,299 | |
Operating Profit | 82 | 100 | 163 | 164 | 184 | 230 | 364 | 416 | 250 | 307 | 320 |
OPM % | 9% | 10% | 13% | 12% | 12% | 14% | 18% | 16% | 9% | 12% | 12% |
2 | 0 | 2 | 5 | 7 | 6 | 15 | 5 | 9 | 34 | 33 | |
Interest | 37 | 34 | 36 | 36 | 36 | 33 | 21 | 14 | 11 | 6 | 6 |
Depreciation | 29 | 30 | 33 | 38 | 44 | 52 | 59 | 70 | 83 | 91 | 95 |
Profit before tax | 18 | 37 | 96 | 95 | 111 | 151 | 299 | 337 | 165 | 244 | 252 |
Tax % | 12% | 20% | 23% | 24% | 26% | 25% | 26% | 26% | 26% | 25% | |
16 | 30 | 74 | 73 | 82 | 113 | 222 | 249 | 121 | 182 | 188 | |
EPS in Rs | 3.27 | 6.15 | 16.48 | 8.08 | 9.12 | 10.23 | 20.16 | 22.56 | 10.98 | 16.51 | 16.96 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 10% | 17% | 16% | 0% | 6% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 10% |
3 Years: | 7% |
TTM: | -2% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | -9% |
TTM: | 39% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -7% |
1 Year: | -20% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | 14% |
Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 48 | 48 | 45 | 90 | 90 | 110 | 110 | 111 | 111 | 111 |
Reserves | 106 | 136 | 198 | 227 | 309 | 728 | 933 | 1,155 | 1,253 | 1,434 |
300 | 299 | 323 | 372 | 297 | 264 | 88 | 152 | 63 | 130 | |
142 | 170 | 195 | 291 | 338 | 308 | 451 | 522 | 502 | 449 | |
Total Liabilities | 596 | 653 | 760 | 980 | 1,034 | 1,410 | 1,583 | 1,939 | 1,929 | 2,123 |
224 | 238 | 269 | 345 | 363 | 489 | 503 | 646 | 681 | 798 | |
CWIP | 4 | 14 | 18 | 15 | 62 | 8 | 77 | 23 | 24 | 35 |
Investments | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 12 | 92 | 38 |
367 | 400 | 473 | 620 | 608 | 913 | 1,002 | 1,259 | 1,133 | 1,252 | |
Total Assets | 596 | 653 | 760 | 980 | 1,034 | 1,410 | 1,583 | 1,939 | 1,929 | 2,123 |
Cash Flows
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|
123 | 86 | 94 | 162 | 219 | 102 | 292 | -20 | 360 | 33 | |
-30 | -51 | -67 | -170 | -105 | -368 | -70 | 20 | -142 | -126 | |
-93 | -35 | -24 | 6 | -105 | 257 | -214 | 22 | -128 | 48 | |
Net Cash Flow | -0 | 0 | 3 | -2 | 9 | -9 | 8 | 23 | 90 | -45 |
Ratios
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 81 | 87 | 69 | 66 | 58 | 40 | 58 | 60 | 56 | 83 |
Inventory Days | 57 | 49 | 72 | 96 | 65 | 112 | 60 | 119 | 74 | 88 |
Days Payable | 38 | 48 | 42 | 78 | 70 | 59 | 83 | 77 | 56 | 50 |
Cash Conversion Cycle | 99 | 87 | 99 | 84 | 54 | 93 | 35 | 102 | 74 | 121 |
Working Capital Days | 87 | 84 | 77 | 64 | 39 | 67 | 54 | 91 | 69 | 102 |
ROCE % | 15% | 25% | 21% | 21% | 21% | 29% | 28% | 12% | 15% |
Documents
Announcements
- Closure of Trading Window 24 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 12 Sep
- Shareholder Meeting / Postal Ballot-Outcome of AGM 11 Sep
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Communication Of Deduction Of Tax At Source On Final Dividend Payout For FY 23-24
23 Aug - Communication on TDS deduction for final dividend payout.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Aug
Annual reports
Concalls
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Aug 2024Transcript PPT REC
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Market Position[1]
Co. holds ~5% market share in PVC pipes segment and is one of the top six players in the pipes & fittings industry. This is supported by 7200+ SKUs distributed through 10 warehouses and 1500+ channel partners throughout India.