Prince Pipes - Strong Volume Recovery In Sight: Systematix

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..Systematix Research Report.We hosted the management of Prince Pipes and Fittings Ltd. at our investor conference. The management sounded positive on the healthy demand scenario of PVC pipes. For Prince Pipes, management believes in strong recovery in volumes Q3 onwards after two-three weak quarters impacted on enterprise resource planning implementation. Ebitda margins (Q2: 14.3%) should also remain healthy on stable PVC price and superior product mix. The greenfield plant in Bihar (Rs 1.5 billion capex; 35 kilo tonne capacity) is likely to be operational by Q4 FY25 and will boost its presence in the fast-growing eastern market (15-20% revenue mix). It eyes Bihar plant to be the largest for itself in next three years having comprehensive range of product offerings. Its bathware foray would enhance its brand visibility and direct connect with end consumers. After distribution set up in North and West India, it plans to enter East and South India in the next two-three quarters. .We remain positive on Prince Pipes and estimate 14%/42%/59% compound annual growth rate in revenue/Ebitda/profit after tax over FY23-25E on healthy volume (16% CAGR) and margins, resulting in healthy operating cash flow and return on capital employed (25%). Maintain 'Buy' and target price of Rs 884 (32 times FY25E price/earning). .Click on the attachment to read the full report:.Star Cement - Robust Volume, Industry-Leading Margin Outlook: 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 - Strong Volume Recovery In Sight: Systematix

Management believes in strong recovery in volumes Q3 onwards after two-three weak quarters impacted on enterprise resource planning implementation.

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Prince Pipes - Strong Volume Recovery In Sight: Systematix

Management believes in strong recovery in volumes Q3 onwards after two-three weak quarters impacted on enterprise resource planning implementation.

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