Prince Pipes and Fittings Limited (PPFL), one of India’s largest integrated piping solutions & multi polymer manufacturers with 7 strategically located manufacturing units across the country, announced its unaudited financial results for the quarter ended 30th September 2021. The unaudited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on November 2nd, 2021.
Revenue growth led particularly by plumbing and SWR portfolio, which delivered robust volume growth.
EBITDA at Rs123cr as compared to Rs80cr, grew by 53%, margins at 16.1%. PAT at Rs76cr as compared to Rs47cr, grew by 62%.
The stock is trading lower at Rs754.60, down 0.63% on the BSE.
Company continues to remain long term debt free during the quarter. The Board of the Directors of the Company at its meeting held on 2nd November 2021 have recommended a Dividend of Rs1.5/- per share of face value of Rs10/- each for the half year ended 30th September, 2021.
Commenting on the results, Mr. Parag Chheda, Joint Managing Director, Prince Pipes and Fittings Limited, said, “Economic activity has started normalising from the quarter ended September 2021 supported by pent-up demand, ramp-up of vaccination drive, a favourable policy mix and global revival. Our performance this quarter reports robust revenue and EBITDA increase, due to our focus on volume growth in plumbing and SWR segments, led by the pick-up in urban real estate demand, new project launches & sustained demand from tier 2/3 cities. Several strategic efforts are already underway delivering results.”
“Our goals are set on continuing to drive our 3-pronged strategy centering on organic growth, operational excellence and progress aligned to ESG objectives. We have been able to increase market share, on the back of ongoing industry consolidation. Given this trajectory, we are moving in the right direction as we continue to strengthen our business fundamentals,” Parag Chheda added.
