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Swing Capital

Prince Pipes & Fittings Ltd

NSE: PRINCEPIPE BSE: 542907

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]

₹251
52W: ₹205 — ₹388
PE 64.1 · Book ₹144 · +74% vs book
Market Cap₹2,775 Cr
Stock P/E64.1Price to Earnings
ROCE3.85%Return on Capital
ROE2.73%Return on Equity
Div. Yield0.2%Face Value ₹10

Weaknesses

  • −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

Shareholding Pattern

Promoters60.95%
FIIs3.55%
DIIs15.54%
Public19.98%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.94%60.94%60.94%60.94%60.94%60.94%60.94%60.95%▲0.0
FIIs6.44%7.27%▲0.86.07%▼1.26.19%▲0.13.75%▼2.43.72%▼0.03.54%▼0.23.55%▲0.0
DIIs18.37%17.52%▼0.916.44%▼1.114.97%▼1.515.73%▲0.815.95%▲0.215.61%▼0.315.54%▼0.1
Public14.24%14.25%▲0.016.55%▲2.317.88%▲1.319.57%▲1.719.39%▼0.219.9%▲0.519.98%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales656.45618.62740.13604.47622.07577.72719.65580.42594.57573.27
Expenses562.27542.96647.87546.18576.38573.05664.81540.85539.72545.37
Operating Profit94.1875.6692.2658.2945.694.6754.8439.5754.8527.9
OPM %14.35%12.23%12.47%9.64%7.34%0.81%7.62%6.82%9.23%4.87%
Net Profit70.6337.6354.6524.6714.71-20.4224.184.8214.63-2.38
EPS ₹6.393.44.942.231.33-1.852.190.441.32-0.22

AI Insights

Revenue Trend

TTM revenue at ₹2,468Cr, down 2.2% YoY. OPM at 7%.

Debt Position

Borrowings at ₹237Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.

Capex Cycle

CWIP at ₹27Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 15.54% (-0.84pp change). FIIs: 3.55% (-2.57pp change). Promoters hold 60.95%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 4% (Mar 2025). Working capital days: 82.

Valuation

PE 64.1x with 3.85% ROCE. Price is 74% above book value of ₹144. Dividend yield: 0.2%.

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