ECONOMY

Prince Pipes Q4 Review – Strong Operating Results; Many Levers For Market Share Gains: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Systematix Research Report

Healthy volumes (up 9% YoY) and robust Ebitda margin (15.6%) enabled Prince Pipes and Fittings Ltd. to post strong Q4 results.

While its plumbing and SWR portfolios continued to do well, agri is yet to pick up. Its Lubrizol tie up is aiding project sales expansion and market share gains in chlorinated polyvinyl chloride pipes, due to domestic raw material sourcing.

The high raw material inventory (intentional, on supply concerns) should normalize in H1 FY23.

Although falling PVC prices could pose operational challenges in the plastic pipes industry, Prince Pipes remains our preferred pick in the pipes pack, underpinned by market share gains, brand building focus and distribution/portfolio expansion.

Given its strong performance, Prince Pipes’s valuation gap has been narrowing versus peers since the last two years.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.



Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button