Thread by @ValueEducator

Annual Report Highlights No : 11

#Princepipes FY 22 Annual Report Highlights

Like & Retweet for better reach !

Prince Pipes and Fittings is one of India’s largest integrated piping solutions providers based in
Mumbai.
Over 3 decades, the company has been engaged in the manufacturing of polymer piping solutions in

five types of polymers - CPVC, UPVC, HDPE, PPR and LLDP. With an exhaustive product portfolio of
7,200 SKUs positions, Prince Pipes is an end-to-end solutions provider.
Prince Pipes has an extensive a pan-India distribution network of over 1,500 channel partners. With

seven manufacturing units at Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli),
Haridwar (Uttarakhand), Kolhapur (Maharashtra), Chennai (Tamil Nadu), Jaipur (Rajasthan) and
Sangareddy (Telangana)

Prince has emerged as one of the fastest growing companies in the Indian pipes and fittings industry.
Prince Pipes and Fittings Limited is a Fortune India 500 company

FY 22 Highlights

Prince Pipes is now a Fortune India 500 company, as announced in December 2021.

The Company continues to make even deeper inroads into the urban, semi urban, Tier II,
Tier III towns and strengthened its foothold in rural markets.

Prince’s association with Akshay Kumar continues and is now also endorsing Storefit Water
tanks.

Financials

Revenue: 2657crores (28% Growth)
Volume: 139034 MT (0.54% growth)
EBITDA: 415 crore (15% Growth)
EBITDA Margin: 15.6% (down from 17.4% in FY 21)
Operating Cash Flow: -19.5 crores (Cash flow in FY 21 was 292 crores)

The Company remains long term debt free during the year.

Industry Updates
Strengthening water infrastructure and transportation has emerged as one of the key
missions of the Central Government.

The Union Budget 2022-23 had outlined initiatives to maintain and stimulate this momentum with INR480bn being allotted for Housing projects under PM housing scheme,
INR600 bn allocated to cover 38mn households for tap water as part of Har Ghar, Nal Se Jal scheme

and the continuation of the expansion of national highways – all of which augurs
well for the pipes and fittings industry.

National development initiatives launched earlier like Swachh Bharat, Jal Jeevan Mission, and AMRUT will continue to provide the much-needed impetus for companies with high
exposure to plumbing pipes and fittings segment

Rising Input Costs

This year was marked by headwinds in terms of input costs, which tapered Company’s
profitability.

Through targeted cost measures, inventory management, and strategic sourcing, Prince Pipes was able to cushion the impact to the best possible extent.

Recent correction across polymers prices could lead to lower industry growth in value terms,
as a decrease in raw material

prices would impact realisations.

New product launches:
PE-FIT Aqua - HDPE Piping Systems: offers major advantages of polyethylene material which
results in much lower installation and whole life cost when compared with traditional piping

materials. Finds application in: Potable Water Pipe Network in rural & urban areas, Drip, Sprinkler and Lift Irrigation, Industrial Effluents, Infrastructure Projects, Government
projects, Bore Well Application for Submersible Pumps, Mining Sector for Handling Slurries.

CORFIT Manhole Chambers: made from PE (Polyethylene) material. Finds use in Commercial
& Municipal sewerage/drainage networks.

Products launched earlier, Storefit Water Tanks, and Prince Flowguard Plus Piping Systems

have been steadily gaining ground making strong in-roads into target markets.

Capex
During the year ended 31.03.2022, the Company has commissioned a new manufacturing
plant at Sangareddy, Telangana. The installed capacity of the manufacturing plant at
Telangana as on 31.03.2022 is 42,532 MT.

Micro Cap Club : valueeducator.com/micro-cap-club/