Prince Pipes & Fittings , a leading Indian manufacturer of pipes and fittings, has outlined its growth projections and strategic goals for the fiscal year 2026 (FY26). The company anticipates a robust performance with several key targets in place.

Volume Growth and Margin Improvement

Prince Pipes expects to achieve volume growth between high single-digit and low double-digit figures for FY26. This projection reflects the company's confidence in its market position and demand for its products. Additionally, the company foresees a sequential improvement in margins, with Q2 expected to outperform Q1, and H2 projected to surpass H1.

EBITDA Margin Target

The company has set an ambitious target for its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margins. Prince Pipes aims to reach EBITDA margins of 12.00% by Q3 or Q4 of FY26. This target suggests the company's focus on improving operational efficiency and profitability.

Bathware Segment Revenue

Prince Pipes is also betting big on its bathware segment. The company has set a revenue target of Rs. 50-60 crores from this segment for FY26. This indicates the company's efforts to diversify its product portfolio and tap into the growing bathware market.

Bihar Plant Performance

For its Bihar plant, Prince Pipes has set a volume target of 20,000-25,000 tonnes in FY26. This target highlights the company's expansion efforts and its strategy to strengthen its presence in the eastern region of India.

Financial Performance in Q1 FY26

The company recently released its unaudited standalone financial results for the quarter ended June 30, 2025 (Q1 FY26):

The company's performance in Q1 FY26 shows a slight decline in revenue and a significant decrease in profitability compared to the same quarter in the previous year. However, Prince Pipes remains optimistic about its future performance, as reflected in its growth targets for FY26.

Prince Pipes continues to focus on strategic growth initiatives while navigating market challenges. The company's forward-looking targets for volume growth, margin improvement, and expansion into new product segments demonstrate its commitment to long-term value creation for its stakeholders.

Prince Pipes & Fittings , a leading manufacturer of pipes and fittings in India, has reported a significant decline in its financial performance for the quarter ended June 30. The company's latest financial results, approved by its Board of Directors on August 6, reveal a sharp drop in profitability despite only a modest decrease in revenue.

Financial Highlights

Revenue and Profit Analysis

Prince Pipes & Fittings experienced a 4.00% year-over-year decline in revenue from operations, which fell to ₹5,804.16 crore from ₹6,044.72 crore in the same quarter of the previous year. However, the most striking aspect of the company's performance was the sharp 80.50% drop in net profit, which plummeted to ₹48.21 crore from ₹246.75 crore year-over-year.

This substantial decline in profitability led to a corresponding decrease in earnings per share (EPS), which fell to ₹0.44 from ₹2.23 in the previous year's quarter, representing an 80.30% reduction.

Cost Management and Employee Benefits

Interestingly, the company reported a reduction in employee costs for the quarter. The financial statement notes that employee cost for the quarter is net of a writeback of ₹44.60 crore. This writeback is attributed to excess staff incentive provisions from an earlier period, which has helped to partially offset the overall decline in profitability.

Board Meeting and Audit Review

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on August 6. The meeting lasted from 12:40 p.m. to 3:45 p.m. The company's statutory auditors have also conducted a limited review of these results, as per regulatory requirements.

Upcoming Annual General Meeting

In addition to the financial results, the Board of Directors has approved several key dates:

1. The 38th Annual General Meeting (AGM) is scheduled for September 11, to be conducted through video conferencing or other audio-visual means.
2. The Register of Members and Share Transfer Books will remain closed from September 5 to September 11, for the purpose of the AGM and final dividend.
3. The record date for determining shareholders eligible for the final dividend is set as September 4.
4. M/s. Sanjay Dholakia & Associates has been appointed as scrutinizer for the e-voting process at the upcoming AGM.

Conclusion

While Prince Pipes & Fittings faces challenges with its profitability in the first quarter, the company continues to maintain transparency in its financial reporting and corporate governance practices. Investors and stakeholders will likely be watching closely to see how the company addresses these financial headwinds in the coming quarters.