Company Update : Prince pipes Ltd by Motilal Oswal Financial Services Ltd
Healthy operating performance due to higher gross margins
Earnings beat our estimates
* Consolidated revenue declined 4% YoY and grew 2% QoQ to INR5.9b (est. INR6.3b).
* Total volume declined 1%/2% YoY/QoQ to 42.8KMT.
* Consolidated EBITDA grew 21% YoY/39% QoQ to INR551m (est. INR501m).EBITDA margin stood at 9.3% (est. 7.9%), which expanded 190bp YoY/250bp QoQ.
* EBITDA/kg stood at INR13/kg (up 22%/42% YoY/QoQ).
* Adj. PAT remained flat YoY and grew 3x QoQ to INR146m (est. INR128m).
* Gross debt stood at INR2.3b in Sep’25 vs INR2.6b in Mar’25.
* CFO stood at INR2b in Sep’25 compared to INR990m in Sep’24.
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