Prince Pipes - Resin Price Volatilty To Drag Q2 Performance: HDFC Securities

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..HDFC Securities Institutional Equities.We recently met with the Prince Pipes and Fitting Ltd.’s management. The management noted that industry demand has been subdued and decreasing resin prices is leading to dealers’ destocking. CPVC resin prices has increased by 1-2% QoQ in Q2, industry has not passed on this to end customer. Weak volume and falling resin prices can lead to some inventory losses during Q2, thus pulling down margin. Company remained hopeful of demand uptick in H2 FY25. There is possibility of anti-dumping duty being impose on imported PVC resin in near future. If this happens, resin price will increase, and channel inventory will reach normal levels. Its Bihar pipes plant is on track to start production in January 2025. In the bathware segment, it will be ramping up sales in south and then in east in H2 FY25. We maintain an Add rating on Prince with a lower target price of Rs 570/share (30 times Sep-26E EPS)..Click on the attachment to read the full report:.Mahanagar Gas - Strong CNG Registrations Bode Well For Volume Growth: HDFC Securities.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 - Resin Price Volatilty To Drag Q2 Performance: HDFC Securities

There is possibility of anti-dumping duty being impose on imported PVC resin in near future, says the brokerage.

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Prince Pipes - Resin Price Volatilty To Drag Q2 Performance: HDFC Securities

There is possibility of anti-dumping duty being impose on imported PVC resin in near future, says the brokerage.

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