Prince Pipes and Fittings Limited announced the outcome of its Board of Directors meeting held on November 03, 2026. The board approved the unaudited financial results for the quarter and half-year ended September 30, 2026. Key personnel changes include the appointment of Mr. Rajat Mishra as Chief Business Officer and the retirement of Mr. Ashok Mehra, President – Chief Marketing Officer, effective November 16, 2026. The company also decided to terminate the Employee Stock Option Scheme, 2017.
Board Meeting Outcome
Prince Pipes and Fittings Limited convened a Board of Directors meeting on Tuesday, November 03, 2026, to discuss and approve several critical corporate matters. The meeting, which commenced at 11:30 A.M. and concluded at 1:05 P.M., resulted in the approval of the company’s unaudited financial results for the quarter and half-year ended September 30, 2026. These results, along with the Statutory Auditor’s Limited Review Report, have been enclosed as Annexure A.
Senior Management Appointments and Retirements
In a significant move for senior leadership, the Board has approved the appointment of Mr. Rajat Mishra as the new Chief Business Officer. This appointment, effective from November 03, 2026, was based on the recommendation of the Nomination and Remuneration Committee. Concurrently, the company announced the retirement of Mr. Ashok Mehra, who currently serves as President – Chief Marketing Officer. His retirement will be effective from the close of business hours on November 16, 2026. Mr. Mehra will work closely with Mr. Mishra to ensure a smooth transition of responsibilities.
Employee Stock Option Scheme Termination
The Board also resolved to terminate the Employee Stock Option Scheme, 2017 (‘ESOP Scheme 2017’) with immediate effect. This decision was made in accordance with the provisions of the Scheme, granting the Board the authority to undertake such termination.
Financial Highlights (Unaudited)
The unaudited financial results reveal a Revenue from Operations of ₹8,208.14 million for the three months ended September 30, 2026, compared to ₹5,945.74 million in the same period of the previous year. The profit after tax for the same period stood at ₹477.64 million. For the six months ended September 30, 2026, Revenue from Operations was ₹14,302.31 million, with a profit after tax of ₹815.12 million. The company’s Equity Share Capital remains stable at ₹1,105.61 million, while Other Equity grew to ₹15,339.47 million as of March 31, 2026.
Statement of Assets and Liabilities
As of September 30, 2026, the company reported total assets of ₹23,100.13 million, with Non-Current Assets amounting to ₹11,245.94 million and Current Assets at ₹11,854.19 million. Total Equity stood at ₹17,146.40 million, comprising Equity Share Capital of ₹1,105.61 million and Other Equity of ₹16,040.79 million. Total Liabilities were ₹5,953.73 million.
Source: BSE
