Q1 2025 Prince Pipes and Fittings Ltd Earnings Call Transcript
Key Points
- Prince Pipes And Fittings Ltd (BOM:542907) reported a 3% YoY volume expansion and a 9% YoY revenue growth, reaching INR604 crores in Q1 FY25.
- EBITDA and PAT grew by 29% YoY and 25% YoY respectively, indicating strong profitability improvements.
- The company has aggressively enhanced its branding initiatives, which are translating into meaningful volume growth.
- The buildout of the bathware segment continues with strong momentum, with expectations for Aquel by Prince to gain presence across all zones in India over the next two quarters.
- The construction of the Begusarai plant is progressing on course, which will cater to the fast-growing market in East India.
- EBITDA margin for the quarter was lower than usual at 9.6%, impacted by product mix and increased branding costs.
- The company experienced a significant increase in inventory days from 52 days in March 2024 to 70 days in June 2024.
- There was no significant inventory gain in Q1 FY25 despite the increase in PVC prices towards the end of the quarter.
- The company has downgraded its long-term EBITDA margin guidance slightly from 12%-14% to 12%-13%.
- There is ongoing destocking in the channel due to a downtrend in PVC prices, which could impact short-term demand.
Ladies and gentlemen, good day, and welcome to Prince and Fittings Limited Q1 FY25 conference call hosted by Antique Stockbroking. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Manish Mahawar from Antique Stockbroking. Thank you, and over to you, Mr. Mahawar.
Thank you. On behalf of Antique Stockbroking, warm welcome to all participants on the 1Q FY25 earnings call of Prince Pipes. Today, we have Mr. Parag Chheda, Joint Managing Director; Mr. Nihar Chheda, Vice President, Strategy; Mr. Anand Gupta, CFO; and Mr. Karl Kolah, Head, Investor Relations on the call.
Without any delay, I would like to hand over the call to Mr. Parag Chheda for opening remarks. Post which, we will open the floor for Q&A. Thank you, and over to Mr. Chheda.
Yes. Thank you, Manish. I thank you for joining us for our quarter one FY25 earnings
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