Prince Pipes Q3 Results Review - Subdued Quarter On Key Parameters: IDBI Capital

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Prince Pipes & Fittings Ltd.'s Q3 FY24 result was in-line with our estimate on net sales front, while margins disappointed. Subdued demand weighed on sales volume offtake, while price cut taken earlier quarters dented on net sales realisation in Q3 FY24.Sales volume was at 42,665 million tonne, down by 2.4% YoY and NSR came in Rs 145/kg, lower by 10.3% over Q3 FY23. The company reported inventory loss of Rs 100 million which further eroded operating margin. Bathware segment had a modest quarter with net sales of Rs 60 million.The management guided that earnings improvement could be seen from Q1 FY25E. We believe capacity addition would play a pivotal role in earnings improvement in long run for Prince Pipes.We introduce FY26E and maintain 'Hold' with a revised target price of Rs 789 (earlier Rs 798), assigning 35 times price earning ratio on FY26E..Click on the attachment to read the full report:.PhonePe Expands Board With Ex-Revenue Secretary Tarun Bajaj, Two Walmart Executives.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Prince Pipes Q3 Results Review - Subdued Quarter On Key Parameters: IDBI Capital

Near term challenges persist, Hold with a target price of Rs 789.

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