Prakash Pipes Limited Reports Robust Growth in Q3 and Nine-Month Financial Results

Prakash Pipes Limited (PPL) has announced strong financial results for the third quarter and nine months ended December 31, 2023, showcasing significant growth across key metrics.

Q3 FY2024 Highlights

Net sales reached Rs. 158.00 crores
Operating profit surged 43% to Rs. 30.00 crores, compared to Rs. 21.00 crores in Q3 FY2023
Profit after tax (PAT) witnessed a remarkable 72% growth, rising to Rs. 23.00 crores from Rs. 13.00 crores in the corresponding quarter

Nine-Month Performance

Net sales for the nine-month period stood at Rs. 505.00 crores
Operating profit increased by 20% to Rs. 77.00 crores, up from Rs. 64.00 crores in the previous year
PAT grew by 25% to Rs. 64.00 crores, compared to Rs. 51.00 crores in the same period last year

Divisional Performance

PVC Pipes & Fittings Division

Achieved sales volume of 31,861 MT during the nine-month period
Registered a robust 10% growth, driven by strong market demand

Flexible Packaging Division

Recorded sales volume of 9,134 MT for the nine-month period
Successfully added new domestic and international customers
Actively exploring export opportunities to expand market reach

The company's impressive financial performance reflects its strong market position and effective growth strategies in both the PVC Pipes & Fittings and Flexible Packaging segments.

Corporate Update

In a separate development, Prakash Pipes Limited recently received approval from the National Stock Exchange of India Limited and BSE Limited for the reclassification of Aircon Systems (India) Private Limited from the "Promoter Group" category to the "Public Group" category. This reclassification, approved on September 4, 2023, is in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The reclassification does not affect the company's shareholding structure, with promoter holding remaining at 44.41% and public holding at 55.59%. This move is part of the company's ongoing efforts to maintain transparency and comply with regulatory requirements.

Prakash Pipes Limited continues to demonstrate strong financial performance and commitment to corporate governance, positioning itself for sustained growth in the pipes and packaging industry.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.21%	-4.89%	-9.46%	-38.77%	-45.44%	+270.26%

Prakash Pipes Limited (PPL) has received approval from both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) for the reclassification of Aircon Systems (India) Private Limited from the "Promoter Group" category to the "Public Group" category. The company disclosed this development in a recent filing to the stock exchanges.

Reclassification Details

The reclassification approval, granted on September 4, 2025, comes in response to PPL's initial application submitted on October 26, 2024. Following the reclassification:

Aircon Systems (India) Private Limited now holds nil shares in Prakash Pipes Limited.
The post-reclassification shareholding structure remains unchanged:

Shareholder Category	Holding Percentage
Promoter	44.41%
Public	55.59%

BSE Warning

In a separate development, BSE issued a warning letter to Prakash Pipes Limited for non-compliance with disclosure requirements. The exchange noted that while the company submitted a physical application for reclassification on October 28, 2024, it only filed the required application through the BSE Listing Centre on July 28, 2025.

The warning cited a violation of Regulation 31A(8)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates the disclosure of reclassification applications to stock exchanges within 24 hours of submission.

Company's Response

Prakash Pipes Limited acknowledged the warning in its filing, stating, "The Company has taken note of the same and shall ensure strict compliance with the provisions of SEBI LODR Regulations and other applicable laws going forward."

Implications

This reclassification and the subsequent warning highlight the importance of timely and accurate disclosures in the Indian stock market. While the reclassification itself does not alter the company's shareholding structure, it reflects changes in the categorization of its shareholders, which can be significant for market participants and regulators alike.

Investors and market observers will likely monitor Prakash Pipes Limited's future compliance with regulatory requirements, given the recent warning from BSE. The company's commitment to ensuring strict compliance in the future may help in maintaining investor confidence and regulatory goodwill.