Q3 2025 Prince Pipes and Fittings Ltd Earnings Call Transcript
Key Points
- Prince Pipes And Fittings Ltd (BOM:542907) is implementing a wide range of growth strategies, including investments in distributor management systems and brand reinforcement initiatives, which are expected to yield returns in upcoming quarters.
- The Bathware vertical, Aquel Pipe Prince, is expanding its presence across markets with new showrooms in various cities, enhancing the company's footprint in Tier 2 and 3 cities across India.
- The integrated manufacturing facility at Begusarai, Bihar, is set to be commissioned soon, with a capacity of 40,000 metric tons in Phase 1, catering to the rising demand in East India.
- Prince Pipes And Fittings Ltd (BOM:542907) has been certified as a Great Place to Work, indicating a positive work culture and high employee satisfaction.
- The company has ranked among the top 2 most desired brands in the pipes category by TRA Research, highlighting strong brand recognition and consumer preference.
- The company faced a challenging quarter with a significant drop in profitability, reporting a loss of INR20 crores for the quarter.
- PVC price volatility has led to inventory losses, with an estimated INR30 crores loss in the December quarter, impacting margins.
- The company's EBITDA margin has been under pressure due to lower volumes and high-cost PVC inventory, with a significant gap from the targeted 12% EBITDA margin.
- Channel inventory levels are low due to price volatility, leading to destocking and impacting volume growth.
- Increased employee expenses and incentives to maintain market share have further pressured margins, with additional trade incentives impacting profitability.
Ladies and gentlemen, good day, and welcome to the Q3 and Nine Months FY25 Earnings Conference Call of Prince Pipes and Fittings hosted by DAM Capital Advisors. (Operator Instructions). Please note that this conference is being recorded.
I now hand the conference over to Mr. Aasim Bharde from DAM Capital Advisors. Thank you, and over to you, sir.
Good morning. On behalf of DAM Capital, I would like to welcome everyone for Prince Pipes Q3 and Nine-Month FY25 Results Conference Call. From the Prince team, we have Mr. Parag Chheda, Joint Managing Director; Mr. Nihar Chheda, VP Strategy; Mr. Anand Gupta, CFO; and Mr. Karl Kolah, Head, Investor Relations.
I will hand over the call to Mr. Parag Chheda for his opening comments. Thanks.
Thank you, Aasim. Good morning, and thank you all for joining us for our Quarter 3 and Nine Months FY25 Earnings Call. The
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