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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Prince Pipes & Fittings Ltd

About the Company - Prince Pipes & Fittings Ltd

Prince Pipes & Fittings Ltd. is a Public Limited Listed company incorporated on 13/11/1987 and has its registered office in the State of Goa, India. Company’s Corporate Identification Number(CIN) is L26932GA1987PLC006287 and registration number is 006287. Currently Company is involved in the business activities of Manufacture of plastics products. Company’s Total Operating Revenue is Rs. 2656.83 Cr. and Equity Capital is Rs. 110.56 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Pipes & FittingsPlot No.1, Honda Industrial Estate, Honda Goa 403530investor@princepipes.com
http://www.princepipes.com
Management
NamePosition Held
Mr. Jayant Shamji ChhedaChairman & Managing Director
Mr. Parag Jayant ChhedaJoint Managing Director
Mr. Vipul Jayant ChhedaExecutive Director
Mr. Ramesh ChandakIndependent Director
Mr. Dilip DeshpandeIndependent Director
Mrs. Uma MandavganeIndependent Director
Mr. Rajendra GogriIndependent Director
Mrs. Amisha VoraAddnl. & Ind.Director

Prince Pipes & Fittings Ltd. Share Price Update

Share PriceValue
Today₹637.40
Previous Day₹656.15

Basic Stock Data of Prince Pipes & Fittings Ltd

Market Cap 6,499 Cr.
Current Price 588
High / Low776/532
Stock P/E31.2
Book Value 131
Dividend Yield0.00 %
ROCE12.3 %
ROE9.17 %
Face Value 10.0

Data Source: screener.in

Competitors of Prince Pipes & Fittings Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Prakash Pipes Ltd 1,033 Cr. 432493/13412.3 1320.27 %29.0 %22.8 % 10.0
Texmo Pipes & Products Ltd 297 Cr. 102108/41.0 67.10.00 %16.9 %28.2 % 10.0
Sanco Industries Ltd 9.48 Cr. 7.2510.2/5.20 4.030.00 %32.4 %409 % 10.0
Tijaria Polypipes Ltd 26.1 Cr. 9.139.13/4.10 9.210.00 %13.9 %% 10.0
Industry Average83.4 Cr137.63.0853.090.07%23.05%115%10

Prince Pipes & Fittings Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales549761331761664901604636706764554656619
Expenses446615289638553761560648636616508562543
Operating Profit1031474112311114144-1169148459476
OPM %19%19%12%16%17%16%7%-2%10%19%8%14%12%
Other Income54212013134223
Interest4534343323213
Depreciation15151617182020212121222323
Profit before tax89131251049211722-3348128269353
Tax %25%26%28%27%27%24%27%27%26%26%23%24%29%
Net Profit67971876678816-243594207138
EPS in Rs6.078.841.616.926.097.981.45-2.183.208.511.776.393.40

Prince Pipes & Fittings Ltd Quarterly Chart

Texmo Pipes & Products Ltd Profit & Loss

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales9571,0071,2461,3151,5721,6362,0722,6572,7112,680
Expenses8759081,0831,1511,3881,4061,7082,2412,4612,323
Operating Profit82100163164184230364416250357
OPM %9%10%13%12%12%14%18%16%9%13%
Other Income202576155930
Interest3734363636332114117
Depreciation29303338445259708387
Profit before tax18379695111151299337165294
Tax %12%20%23%24%26%25%26%26%26%
Net Profit1630747382113222249121220
EPS in Rs3.276.1516.488.089.1210.2320.1622.5610.9819.87
Dividend Payout %0%0%0%0%0%10%17%16%0%

Prince Pipes & Fittings Ltd Profit & Loss Yearly Chart

Prince Pipes & Fittings Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:16%
3 Years:18%
TTM:-9%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:2%
TTM:80%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:13%
1 Year:2%
Return on Equity
10 Years:%
5 Years:18%
3 Years:17%
Last Year:9%

Texmo Pipes & Products Ltd Balance Sheet

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital4848459090110110111111111
Reserves1061361982273097289331,1551,2531,338
Borrowings300299323372297264881526359
Other Liabilities142170195291338308451522427402
Total Liabilities5966537609801,0341,4101,5831,9391,8541,910
Fixed Assets224238269345363489503646681721
CWIP414181562877232424
Investments02111111292129
Other Assets3674004736206089131,0021,2591,0581,035
Total Assets5966537609801,0341,4101,5831,9391,8541,910

Prince Pipes & Fittings Ltd Reserves and Borrowings Chart

Prince Pipes & Fittings Ltd Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1238694162219102292-20360
Cash from Investing Activity -30-51-67-170-105-368-7020-148
Cash from Financing Activity -93-35-246-105257-21422-122
Net Cash Flow-003-29-982390

Texmo Pipes & Products Ltd Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days818769665840586056
Inventory Days57497296651126011974
Days Payable384842787059837756
Cash Conversion Cycle9987998454933510274
Working Capital Days878477643967549169
ROCE %15%25%21%21%21%29%28%12%

Prince Pipes & Fittings Ltd Financial Efficiency Indicators Chart

Texmo Pipes & Products Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters63.25%63.25%63.25%62.94%62.94%62.94%62.94%62.94%60.94%60.94%60.94%60.94%
FIIs2.43%3.05%3.60%4.84%3.96%4.15%3.98%4.41%6.25%6.12%5.01%5.74%
DIIs15.60%12.46%11.77%13.75%14.04%14.51%14.58%15.45%15.75%16.38%18.56%18.41%
Public18.72%21.24%21.38%18.47%19.05%18.39%18.51%17.19%17.06%16.56%15.49%14.91%
No. of Shareholders55,1921,27,7381,81,6662,10,3352,55,1372,63,6962,75,1902,61,1312,47,9382,35,3682,05,8962,00,095

Prince Pipes & Fittings Ltd Shareholding Pattern Chart

No. of Prince Pipes & Fittings Ltd Shareholders

Prince Pipes & Fittings Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Mirae Asset Large & Midcap Fund44743591.02308.33
DSP Small Cap Fund35693311.88245.96
Mirae Asset Midcap Fund21736881.17149.79
Mirae Asset ELSS Tax Saver Fund21405730.78147.51
Aditya Birla Sun Life Small Cap Fund11875701.6381.84
Mirae Asset Aggressive Hybrid Fund9518140.8365.59
Mirae Asset Great Consumer Fund8000001.955.13
UTI Small Cap Fund5142811.0335.44
Aditya Birla Sun Life India GenNext Fund3778500.5926.04
Mirae Asset Multicap Fund2324610.8216.02

Prince Pipes & Fittings Ltd ROCE Trend

Prince Pipes & Fittings Ltd EPS Trend

Prince Pipes & Fittings Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)10.9822.6220.1611.779.12
Diluted EPS (Rs.)10.9822.6220.1611.779.12
Cash EPS (Rs.)18.4928.9225.5614.9513.96
Book Value[Excl.RevalReserv]/Share (Rs.)123.37114.4494.8476.1344.31
Book Value[Incl.RevalReserv]/Share (Rs.)123.37114.4494.8476.1344.31
Dividend / Share (Rs.)0.003.503.501.000.00
Revenue From Operations / Share (Rs.)245.19240.30188.28148.66174.62
PBDIT / Share (Rs.)23.4138.0934.4721.4221.24
PBIT / Share (Rs.)15.9031.7329.0716.7016.40
PBT / Share (Rs.)14.9130.4727.1913.6912.37
Net Profit / Share (Rs.)10.9822.5620.1610.239.12
PBDIT Margin (%)9.5415.8418.3014.4112.16
PBIT Margin (%)6.4813.2015.4311.239.39
PBT Margin (%)6.0812.6714.449.207.08
Net Profit Margin (%)4.479.3810.706.875.22
Return on Networth / Equity (%)8.9019.7121.2513.4320.58
Return on Capital Employeed (%)12.6127.1829.4919.9927.16
Return On Assets (%)6.5412.8613.817.977.94
Long Term Debt / Equity (X)0.000.000.000.040.26
Total Debt / Equity (X)0.040.110.080.290.63
Asset Turnover Ratio (%)1.431.501.371.341.57
Current Ratio (X)2.451.891.891.721.09
Quick Ratio (X)1.520.931.451.020.67
Inventory Turnover Ratio (X)3.794.524.544.284.85
Dividend Payout Ratio (NP) (%)0.0015.447.4311.780.00
Dividend Payout Ratio (CP) (%)0.0012.045.868.060.00
Earning Retention Ratio (%)0.0084.5692.5788.220.00
Cash Earning Retention Ratio (%)0.0087.9694.1491.940.00
Interest Coverage Ratio (X)23.5130.2818.357.115.27
Interest Coverage Ratio (Post Tax) (X)12.0318.9411.734.393.26
Enterprise Value (Cr.)5925.587104.254452.181111.260.00
EV / Net Operating Revenue (X)2.192.672.150.670.00
EV / EBITDA (X)22.8916.8711.744.710.00
MarketCap / Net Operating Revenue (X)2.212.642.220.680.00
Retention Ratios (%)0.0084.5592.5688.210.00
Price / BV (X)4.395.544.411.340.00
Price / Net Operating Revenue (X)2.212.642.220.680.00
EarningsYield0.020.030.040.100.00

Prince Pipes & Fittings Ltd Profitability Ratios (%)

Prince Pipes & Fittings Ltd Liquidity Ratios

Prince Pipes & Fittings Ltd Liquidity Ratios (%)

Prince Pipes & Fittings Ltd Interest Coverage Ratios (X)

Prince Pipes & Fittings Ltd Valuation Ratios

Fair Value / Intrinsic Value of Prince Pipes & Fittings Ltd

Fair Value: ₹382.29

The stock is overvalued by 34.98% compared to the current price ₹588

*Investments are subject to market risks

Strength and Weakness of Prince Pipes & Fittings Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 19.11%, which is a positive sign.
  2. The company has higher reserves (638.30 cr) compared to borrowings (221.70 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (97.00 cr) and profit (160.30 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 27.73 and average Dividend Yield of 11.15%.
  2. The stock has a high average Working Capital Days of 70.22, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 80.78, which may not be favorable.

Should I Buy Prince Pipes & Fittings Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Prince Pipes & Fittings Ltd:
    1. Net Profit Margin: 4.47%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.61% (Industry Average ROCE: 23.05%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 12.03
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 1.52
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 31.0 (Industry average Stock P/E: 3.08)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.04
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Prince Pipes & Fittings Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE