Prince Pipes & Fittings Ltd

About [ edit ]

The company manufactures CPVC and UPVC pipes and fittings for industrial and domestic applications. It offers piping systems and fittings in the segments such as plumbing, sewage, agriculture and borewell. #

  • Market Cap 6,968 Cr.
  • Current Price 633
  • High / Low 660 / 75.0
  • Stock P/E 31.4
  • Book Value 94.8
  • Dividend Yield 0.24 %
  • ROCE 28.7 %
  • ROE 23.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 49.49% CAGR over last 5 years

Cons

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Quarterly Results

Figures in Rs. Crores

Dec 2018 Mar 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
361 499 429 396 431 302 459 549 761
318 441 364 343 373 271 378 446 615
Operating Profit 43 58 65 53 58 32 80 103 147
OPM % 12% 12% 15% 13% 13% 10% 18% 19% 19%
Other Income 4 2 1 1 5 5 3 5 4
Interest 9 9 9 9 8 7 5 4 5
Depreciation 11 11 12 13 14 14 15 15 15
Profit before tax 27 40 45 32 40 16 63 89 131
Tax % 36% 25% 25% 24% 30% 30% 26% 25% 26%
Net Profit 17 30 33 24 28 11 47 67 97
EPS in Rs 1.92 3.32 3.71 2.21 2.57 1.02 4.23 6.07 8.84

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
957 1,007 1,246 1,315 1,572 1,636 2,072
875 908 1,083 1,151 1,388 1,406 1,710
Operating Profit 82 100 163 164 184 230 362
OPM % 9% 10% 13% 12% 12% 14% 17%
Other Income 2 0 2 5 7 6 18
Interest 37 34 36 36 36 33 21
Depreciation 29 30 33 38 44 52 59
Profit before tax 18 37 96 95 111 151 299
Tax % 12% 20% 23% 24% 26% 25% 26%
Net Profit 16 30 74 73 82 113 222
EPS in Rs 3.27 6.15 16.48 8.08 9.12 10.23 20.16
Dividend Payout % 0% 0% 0% 0% 0% 10% 17%
Compounded Sales Growth
10 Years:%
5 Years:16%
3 Years:16%
TTM:27%
Compounded Profit Growth
10 Years:%
5 Years:49%
3 Years:45%
TTM:95%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:650%
Return on Equity
10 Years:%
5 Years:23%
3 Years:22%
Last Year:24%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
48 48 45 90 90 110 110
Reserves 106 136 198 227 307 725 933
Borrowings 300 299 323 372 297 264 88
142 170 195 291 340 311 475
Total Liabilities 596 653 760 980 1,034 1,410 1,606
224 238 269 345 363 489 503
CWIP 4 14 18 15 62 8 77
Investments 0 2 1 1 1 1 1
367 400 473 620 608 913 1,025
Total Assets 596 653 760 980 1,034 1,410 1,606

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
123 86 94 162 219 -155 307
-30 -51 -67 -170 -105 -111 -86
-93 -35 -24 6 -105 257 -213
Net Cash Flow -0 0 3 -2 9 -9 8

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 15% 25% 21% 21% 21% 29%
Debtor Days 81 87 69 66 58 40 62
Inventory Turnover 7.29 6.72 4.60 5.27 4.29 4.82

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
63.25 63.25 63.25 63.25 63.25 63.25
0.65 0.92 0.66 0.83 0.83 2.43
14.75 19.29 18.82 17.48 16.24 15.60
21.35 16.54 17.27 18.44 19.69 18.72

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