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 ₹ 3,577 Cr.
 - Current Price ₹ 324
 - High / Low ₹ 507 / 210
 - Stock P/E 154
 - Book Value ₹ 143
 - Dividend Yield 0.15 %
 - ROCE 3.85 %
 - ROE 2.73 %
 - Face Value ₹ 10.0
 
Pros
Cons
- The company has delivered a poor sales growth of 9.06% over past five years.
 - Company has a low return on equity of 7.61% over last 3 years.
 - Dividend payout has been low at 6.29% of profits over last 3 years
 
* 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.
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 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 957 | 1,007 | 1,246 | 1,315 | 1,572 | 1,636 | 2,072 | 2,657 | 2,711 | 2,569 | 2,524 | 2,500 | |
| 875 | 908 | 1,083 | 1,151 | 1,388 | 1,406 | 1,708 | 2,241 | 2,461 | 2,261 | 2,362 | 2,357 | |
| Operating Profit | 82 | 100 | 163 | 164 | 184 | 230 | 364 | 416 | 250 | 307 | 162 | 143 | 
| OPM % | 9% | 10% | 13% | 12% | 12% | 14% | 18% | 16% | 9% | 12% | 6% | 6% | 
| 2 | 0 | 2 | 5 | 7 | 6 | 15 | 5 | 9 | 34 | 13 | 14 | |
| Interest | 37 | 34 | 36 | 36 | 36 | 33 | 21 | 14 | 11 | 6 | 10 | 13 | 
| Depreciation | 29 | 30 | 33 | 38 | 44 | 52 | 59 | 70 | 83 | 91 | 107 | 112 | 
| Profit before tax | 18 | 37 | 96 | 95 | 111 | 151 | 299 | 337 | 165 | 244 | 59 | 32 | 
| Tax % | 12% | 20% | 23% | 24% | 26% | 25% | 26% | 26% | 26% | 25% | 27% | |
| 16 | 30 | 74 | 73 | 82 | 113 | 222 | 249 | 121 | 182 | 43 | 23 | |
| EPS in Rs | 3.27 | 6.15 | 16.48 | 8.08 | 9.12 | 10.23 | 20.16 | 22.56 | 10.98 | 16.51 | 3.90 | 2.11 | 
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 10% | 17% | 16% | 0% | 6% | 13% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% | 
| 5 Years: | 9% | 
| 3 Years: | -2% | 
| TTM: | -5% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% | 
| 5 Years: | -18% | 
| 3 Years: | -45% | 
| TTM: | -87% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 6% | 
| 3 Years: | -16% | 
| 1 Year: | -32% | 
| Return on Equity | |
|---|---|
| 10 Years: | 15% | 
| 5 Years: | 12% | 
| 3 Years: | 8% | 
| Last Year: | 3% | 
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 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 48 | 48 | 45 | 90 | 90 | 110 | 110 | 111 | 111 | 111 | 111 | 
| Reserves | 106 | 136 | 198 | 227 | 309 | 728 | 933 | 1,155 | 1,253 | 1,434 | 1,466 | 
| 300 | 299 | 323 | 372 | 297 | 264 | 88 | 152 | 63 | 130 | 277 | |
| 142 | 170 | 195 | 291 | 338 | 308 | 451 | 522 | 502 | 449 | 466 | |
| Total Liabilities | 596 | 653 | 760 | 980 | 1,034 | 1,410 | 1,583 | 1,939 | 1,929 | 2,123 | 2,319 | 
| 224 | 238 | 269 | 345 | 363 | 489 | 503 | 646 | 681 | 798 | 961 | |
| CWIP | 4 | 14 | 18 | 15 | 62 | 8 | 77 | 23 | 24 | 35 | 20 | 
| Investments | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 12 | 92 | 38 | 27 | 
| 367 | 400 | 473 | 620 | 608 | 913 | 1,002 | 1,259 | 1,133 | 1,252 | 1,312 | |
| Total Assets | 596 | 653 | 760 | 980 | 1,034 | 1,410 | 1,583 | 1,939 | 1,929 | 2,123 | 2,319 | 
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 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 123 | 86 | 94 | 162 | 219 | 102 | 292 | -20 | 360 | 33 | 119 | |
| -30 | -51 | -67 | -170 | -105 | -368 | -70 | 20 | -142 | -126 | -235 | |
| -93 | -35 | -24 | 6 | -105 | 257 | -214 | 22 | -128 | 48 | 120 | |
| Net Cash Flow | -0 | 0 | 3 | -2 | 9 | -9 | 8 | 23 | 90 | -45 | 4 | 
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 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 81 | 87 | 69 | 66 | 58 | 40 | 58 | 60 | 56 | 83 | 61 | 
| Inventory Days | 57 | 49 | 72 | 96 | 65 | 112 | 60 | 119 | 74 | 88 | 118 | 
| Days Payable | 38 | 48 | 42 | 78 | 70 | 59 | 83 | 77 | 56 | 50 | 51 | 
| Cash Conversion Cycle | 99 | 87 | 99 | 84 | 54 | 93 | 35 | 102 | 74 | 121 | 129 | 
| Working Capital Days | 9 | 16 | 22 | 16 | 5 | 22 | 39 | 70 | 60 | 88 | 82 | 
| ROCE % | 15% | 25% | 21% | 21% | 21% | 29% | 28% | 12% | 15% | 4% | 
Documents
Announcements
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          Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
          
            13h - Conference call Nov 10, 2025 11:30 AM IST to discuss Q2 & H1 FY26 results.
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          Board Meeting Intimation for Notice Of Board Meeting - For Consideration Of Un-Audited Financial Results For The Quarter And Half-Year Ended September 30, 2025
          
            28 Oct - Board meeting on Nov 07, 2025 to approve Q2/H1 unaudited results for Sep 30, 2025; trading window Oct1–Nov9.
 - 
        
          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            10 Oct - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
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          Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
          
            1 Oct - Received GST show-cause notice dated Sept 30, 2025 for ₹1,59,27,754 demand for FY2019-20.
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          Closure of Trading Window
          
            25 Sep - Trading window closed Oct 1, 2025 until 48 hours after Sep 30, 2025 results.
 
Annual reports
Concalls
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      Aug 2025Transcript PPT
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      May 2025Transcript PPT
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      Feb 2025Transcript PPT REC
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      Nov 2024Transcript PPT
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      Aug 2024TranscriptPPTREC
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      Aug 2024TranscriptNotesPPT REC
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      May 2024Transcript PPT
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      Nov 2023Transcript PPT
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      Nov 2022Transcript PPT
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      May 2022Transcript PPT
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      May 2022TranscriptNotesPPT
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      Feb 2022TranscriptPPT
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      Nov 2021TranscriptPPT
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      Aug 2021Transcript PPT
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      May 2021TranscriptPPT
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      May 2021Transcript PPT
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      Feb 2021TranscriptPPT
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      Feb 2021Transcript PPT
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      Dec 2020TranscriptPPT
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      Nov 2020Transcript PPT
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      Nov 2020TranscriptNotesPPT
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      Aug 2020TranscriptPPT
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      Aug 2020Transcript PPT
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      Jun 2020Transcript PPT
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      Feb 2020Transcript PPT
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      Feb 2020TranscriptNotesPPT
 
Market Position[1]
Co. holds ~5% market share in PVC pipes 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.
It is among the Top 5 processors in the Piping Industry.[2]