{"id":180367,"date":"2026-02-11T04:33:53","date_gmt":"2026-02-11T09:33:53","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=180367"},"modified":"2026-02-11T05:58:17","modified_gmt":"2026-02-11T10:58:17","slug":"prince-pipes-and-fittings-limited-posts-stable-volumes-in-q3-fy26-ebitda-improves-year-on-year-amid-flat-revenue","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/prince-pipes-and-fittings-limited-posts-stable-volumes-in-q3-fy26-ebitda-improves-year-on-year-amid-flat-revenue\/","title":{"rendered":"Prince Pipes and Fittings Limited posts stable volumes in Q3 FY26; EBITDA improves year on year amid flat revenue"},"content":{"rendered":"\n<p><strong>Prince Pipes and Fittings Limited (NSE: PRINCEPIPE, BSE: 542907)<\/strong> reported steady operating volumes in the December quarter, with a sharp year-on-year improvement in EBITDA despite marginally lower revenue, according to the company\u2019s Q3 &amp; 9M FY26 investor presentation shared ahead of its analyst call.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"630\" height=\"470\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/output.png\" alt=\"\" class=\"wp-image-180369\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/output.png 630w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/output-300x224.png 300w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Q3 FY26 operating performance<\/h2>\n\n\n\n<p>Sales volumes in Q3 FY26 stood at <strong>42,575 metric tonnes<\/strong>, up <strong>3% year on year<\/strong>. <strong>Revenue from operations was \u20b9573 crore<\/strong>, broadly flat compared with <strong>\u20b9578 crore<\/strong> a year earlier.<\/p>\n\n\n\n<p><strong>EBITDA for the quarter rose to \u20b928 crore<\/strong> from <strong>\u20b95 crore<\/strong> in Q3 FY25, reflecting better operating leverage and cost control. The <strong>EBITDA margin improved to 5%<\/strong> from <strong>1%<\/strong> a year earlier.<\/p>\n\n\n\n<p><strong>Profit after tax (after exceptional item) stood at a loss of \u20b92 crore<\/strong>, compared with a loss of \u20b920 crore in Q3 FY25. The quarter included an <strong>exceptional item of \u20b92.05 crore (net of tax)<\/strong> related to a higher provision for employee benefits following the implementation of new labour codes, which weighed on reported PAT.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Nine-month FY26 snapshot<\/h2>\n\n\n\n<p>For the nine months ended Dec. 31, 2025, <strong>sales volumes rose 2% year on year to 129,071 metric tonnes<\/strong>. <strong>Revenue from operations declined 3% to \u20b91,748 crore<\/strong>, compared with \u20b91,804 crore in 9M FY25.<\/p>\n\n\n\n<p><strong>EBITDA increased 12% year on year to \u20b9122 crore<\/strong>, with the <strong>EBITDA margin improving to 7%<\/strong> from <strong>6%<\/strong> a year earlier. <strong>PAT for 9M FY26 stood at \u20b917 crore<\/strong>, with a <strong>PAT margin of about 1%<\/strong>, compared with \u20b919 crore in the year-ago period. The company cited pricing pressure and input cost volatility as factors impacting topline and profitability in the period.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Cost structure and working capital<\/h2>\n\n\n\n<p>Raw material consumption in Q3 FY26 stood at <strong>\u20b9430 crore<\/strong>, while <strong>gross margin improved to 25%<\/strong> from 22% a year earlier, reflecting a favorable product mix and cost actions. Employee expenses and other operating expenses remained broadly stable year on year.<\/p>\n\n\n\n<p>Working capital days stood at <strong>56 days as of 9M FY26<\/strong>, reflecting improvement from elevated levels seen in FY24, aided by tighter receivables management and inventory optimization, according to the presentation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Product launches and brand initiatives<\/h2>\n\n\n\n<p>During the quarter, Prince Pipes expanded its product portfolio. The company <strong>launched \u201cSmartfit Plus\u201d CPVC pipes<\/strong> and introduced <strong>CPVC solvent cement<\/strong> in new co-extruded packaging with a four-year shelf life. It also rolled out <strong>two new variants under the Storefit water tank range<\/strong>, including <strong>Storefit Hydra (four-layer tank)<\/strong> and <strong>Storefit Cool with UFC technology<\/strong>.<\/p>\n\n\n\n<p>The company launched a new brand campaign, <strong>\u201cIndia Ki Pragati Ka Taj,\u201d<\/strong> across dealer meets, shop signages and transit media. It also expanded plumber engagement programs in the bathware segment through a cashback initiative linked to QR codes on select product packaging.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Manufacturing footprint and distribution<\/h2>\n\n\n\n<p>Prince Pipes operates <strong>eight manufacturing facilities<\/strong> across India, with a total installed capacity of over <strong>435,000 MTPA<\/strong>, and a pan-India distribution network of more than <strong>1,500 channel partners<\/strong>. The company continues to expand its presence across piping systems, water storage and bathware, including products under the <strong>Aquel by Prince<\/strong> brand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Outlook<\/h2>\n\n\n\n<p>Management said it remains focused on volume-led growth, premiumisation of the product mix, and distribution expansion across key markets. The company continues to invest in new product introductions and brand building to support demand across plumbing, water storage and bathware categories.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Summary<\/h2>\n\n\n\n<p>Prince Pipes delivered stable volumes and a sharp year-on-year improvement in EBITDA in Q3 FY26, even as revenue remained largely flat. Margin expansion over the nine-month period reflects cost actions and operating leverage. New product launches and brand initiatives are aimed at supporting medium-term growth across plumbing, water storage and bathware segments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prince Pipes and Fittings Limited (NSE: PRINCEPIPE, BSE: 542907) reported steady operating volumes in the December quarter, with a sharp year-on-year improvement in EBITDA despite marginally lower revenue, according to the company\u2019s Q3 &amp; 9M FY26 investor presentation shared ahead of its analyst call. Q3 FY26 operating performance Sales volumes in Q3 FY26 stood at [&hellip;]<\/p>\n","protected":false},"author":2409,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,1941],"tags":[16250,16252,16255,16251,16253],"class_list":["post-180367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-stock-analysis","tag-bathware-products","tag-cpvc-pipes","tag-plastic-pipes-india","tag-plumbing-solutions","tag-water-storage-tanks"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":178941,"url":"https:\/\/alphastreet.com\/india\/finolex-industries-q3-fy26-earnings-results\/","url_meta":{"origin":180367,"position":0},"title":"Finolex Industries Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"February 2, 2026","format":false,"excerpt":"Executive Summary Finolex Industries Ltd reported Q3FY26 revenues of \u20b9898 crore, down 10.29% YoY, but consolidated net profit rose 54.93% to \u20b9110 crore due to sharp 15.81% expense reduction. 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Revenue & Growth\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/FINP.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":180680,"url":"https:\/\/alphastreet.com\/india\/hindware-home-innovation-ltd-announces-unaudited-standalone-and-consolidated-financial-results-for-3q-and-9m-2025\/","url_meta":{"origin":180367,"position":1},"title":"Hindware Home Innovation Ltd. 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