Prince Pipes and Fittings Ltd. announced its Q3 and 9M FY26 results, reporting a 3% YoY growth in Q3 sales volume to 42,575 MT, though 9M sales volume grew by only 2% YoY. The company continues to focus on premiumization, new product launches like Smartfit Plus CPVC, and brand building initiatives like ‘India Ki Pragati Ka Taj’. Financial results showed EBITDA growth of 460% YoY for Q3, reaching ₹28 crores, and a 12% YoY rise for 9M to ₹122 crores.
Q3 & 9M FY26 Performance Snapshot
Prince Pipes & Fittings Ltd. shared its performance highlights for the third quarter and the first nine months of the fiscal year 2026, emphasizing progress in sales volumes and strategic business expansions.
Sales Volume Trends
- Sales Volume for Q3 FY26 stood at 42,575 MT, showing a 3% YoY growth.
- For the 9M FY26 period, sales volumes reached 1,29,071 MT, marking a 2% YoY increase.
Revenue and Profitability
- Q3 FY26 Revenue from Operations was ₹573 crores (a 1% decline YoY).
- 9M FY26 Revenue was ₹1,748 crores, down 3% YoY.
- EBITDA for Q3 saw a substantial jump of 460% YoY to ₹28 crores, with an EBITDA Margin of 5%.
- 9M FY26 EBITDA stood at ₹122 crores (up 12% YoY), with a margin of 7%.
- PAT after exceptional item for 9M FY26 was ₹17 crores (a 1% margin), compared to ₹19 crores in 9M FY25.
Key Business Highlights and Strategy
New Product Launches
The company successfully executed strategic product introductions:
- Successfully launched Smartfit Plus CPVC Pipes & Solvent Cement across markets, including CPVC solvent cement in new Co-ex packaging with a 4-year shelf life.
- Introduced two new variants under the water tank category: Storefit HYDRA (4-layered) and Storefit COOL (With UFC Technology).
Branding and Engagement
Prince Pipes rolled out a new brand campaign, “INDIA KI PRAGATI KA TAJ,” implemented across various media. Furthermore, the company enhanced plumber engagement in the Bathware segment through the Aquel Cash Back Reward Program, allowing plumbers to earn instant cash rewards via WhatsApp.
Product Portfolio Expansion
The presentation details the breadth of the product offerings across five key segments:
- Piping Business: Includes brands like Smartfit Plus (CPVC), Greenfit (PP-R), Easyfit (UPVC), and industrial systems like Onefit (CPVC).
- Sewerage & Underground: Features Silentfit, Ultrafit, Foamfit, Drainfit, Corfit, and Durafit.
- Agriculture, Water Storage & Sub Surface Drainage: Showcases Aquafit, SafeFit (Borewell), PEFit Aqua (HDPE), Storefit (Water Tanks), Rainfit (Roofwater), and Terrafit.
- Modern Plumbing: Includes German technology products like Skolan Safe and HT Safe for silent drainage, and Hauraton for civil construction drainage systems.
- Bathware: Driven by the Aquel by Prince brand (Faucets, Sanitaryware, Showers, Cisterns), following the acquisition of assets from Klaus Waren Fixtures Pvt Ltd. in March 2024 for ₹55 crores.
Growth Strategy and Future Outlook
Prince Pipes’ strategy focuses on BUILDING PRESENCE ACROSS THE PRODUCT CHAIN and strengthening India’s water infrastructure, driven by:
- Innovation: Launching state-of-the-art products and continuing diversification.
- Premiumization: Transforming marketing to emphasize product value through BTL campaigns.
- Operational Excellence: Building future capacities and driving ESG progress, aiming to reduce costs and improve EBITDA margins.
Investment Rationale
Key reasons underpinning the investment outlook include the company’s Legacy Pipe manufacturer core competency, its commitment to innovation in water infrastructure, and the Huge headroom for domestic growth, given India’s low Per Capita PVC Consumption globally.
Source: BSE
