Prince Pipes And Fittings Ltd · NSE:PRINCEPIPE
Prince Pipes And Fittings — H1 FY24 Earnings Presentation
38 slides from Prince Pipes And Fittings's earnings presentation, November 2023
Slide 1: Investor Presentation Q2 & H1 FY24
INVESTOR PRESENTATION Q2 & H1 FY24 PRINCE PIPES AND FITTINGS LIMITED
Slide 2: Disclaimer
DISCLAIMER This information may contain certain forward-looking statements/details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views ex
Slide 3: Contents
04 Results Overview 12 Company Overview Contents 23 Product Portfolio 29 Poised for Future Growth
Slide 4: Results Overview
Results Overview
Slide 5: Performance Highlights – Q2 & H1FY24
PERFORMANCE HIGHLIGHTS – Q2 & H1FY24 Q2FY24 Vs Q2FY23 H1FY24 Vs H1FY23 1 Q2FY24 revenues increased by 3% YoY to ₹ 656 crore as compared to ₹ 636 crore in Q2FY23 1 H1FY24 revenues stood at ₹ 1,210 crore as compared to ₹ 1,241 crore in H1FY23 2 Finished Goods volumes increased by 8% YoY in Q2FY24 at 4
Slide 6: Business Highlights
BUSINESS HIGHLIGHTS Prince Bathware – Encouraging response with positive feedback from dealers and consumers. Sales performance has been promising since launch in June 2023. Ramping up distributor base in North and West region, plan to launch in Eastern region by Q4FY24. Update on Integrated Bihar F
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS Updates to Senior Management Talented professionals are leading the Company in key roles of Accounts & Finance, and Human Resource as Prince Pipes continues to aggressively implement its growth & expansion plans. Anand Gupta, appointed as Chief Financial Officer – A Chartered Acc
Slide 8: Financial Performance for Q2FY24
FINANCIAL PERFORMANCE FOR Q2FY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 636 656 41,529 38,458 Q2FY23 Q2FY24 Q2FY23 Q2FY24 94 PAT * EBITDA 71 (₹ in Crs.) (₹ in Crs.) Q2FY23 Q2FY23 Q2FY24 Q2FY23 Q2FY24 -11 -24 * Including Exceptional item for quarter and half year ended 30.9.23 repres
Slide 9: Financial Performance for H1FY24
FINANCIAL PERFORMANCE FOR H1FY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 1,241 1,210 78,684 69,707 H1FY23 H1FY24 H1FY23 H1FY24 EBITDA 139 PAT * 90 (₹ in Crs.) (₹ in Crs.) 33 H1FY23 H1FY24 H1FY23 Q2FY24 -8 * Including Exceptional item for quarter and half year ended 30.9.23 represents
Slide 10: Profit & Loss Statement as on 30th September 2023
PROFIT & LOSS STATEMENT AS ON 30TH SEPTEMBER 2023 Particulars Q2FY24 Q2FY23 Y-o-Y (%) H1FY24 H1FY23 Y-o-Y (%) Total Sales 656 636 3 1,210 1,241 (2) Raw Material Consumed 451 552 (18) 865 1,032 (16) Employee benefit expenses 40 28 43 73 54 35 Other Expenses 71 67 6 133 122 9 EBITDA 94 (11) - 139 33 3
Slide 11: Working Capital Cycle
WORKING CAPITAL CYCLE 68 66 58 59 57 55 36 36* 66 67 78 59 47 70 40 77 59 62 40 66 60 85 77 56 57 56 64 73 78 63 62 59 FY18 FY19 FY20 FY21 FY22 FY23 Q1FY24 H1FY24 Debtor Days Inventory Days Creditor Days Working Capital Days * Reclassified to 15 days based on regrouping of financials for FY 21 Inves
Slide 12: Company Overview
Company Overview
Slide 13: Company Overview
COMPANY OVERVIEW Over the last 3 decades, Prince Pipes VISION has emerged as a leader in the Indian pipes and fittings industry, creating innovations in plumbing, To be an acknowledged leader in Indian irrigation, storage, and sewerage plastic piping industry by exceeding systems. Now the journey ha
Slide 14: Company at a Glance
COMPANY AT A GLANCE 1987 7 10 7,200+ 1,500+ CRISIL A+ Incorporation No. of Facilities Warehouses SKUs Channel Partners Outlook: STABLE LONG TERM 1,882 7,725 cr. 121 cr. PRINCE & ~3,28,500 MTPA DEBT FREE PAT Employees Market Cap Total Installed TRUBORE (For Sep 29th, 2023) (For FY 2023) Capacity Pipi
Slide 15: Our Journey…
OUR JOURNEY… Acquired “Trubore”- from Chemplast Sanmar Group Manufacturing unit at Athal along with their two (Silvassa-D & N.H) manufacturing units at established to set-up a large- Prince Pipes achieved the Kolhapur & Chennai scale Injection Moulding Rs.100 Crore benchmark facility 1989 2000 2008
Slide 16: …Our Journey
…OUR JOURNEY Mr. Jayant Chheda, CMD, bestowed with the Manufacturing unit Lifetime Achievement Award by Modern Plastics commissioned at Sangareddy, Telangana, to strengthen Embarks on a new phase of growth with launch Manufacturing unit at strategic presence in South of Modern Plumbing and Bathware
Slide 17: Growth Strategy
GROWTH STRATEGY BUILDING PRESENCE ACROSS THE PRODUCT CHAIN TO STRENGTHEN INDIA’S WATER INFRASTRUCTURE PRESENCE ACROSS WATER INFRASTRUCTURE - ADDING DEPTH TO PRODUCT PORTFOLIO • Continue to launch state-of-art products in the piping division to bring innovative and global products to the domestic mar
Slide 18: Piping Industry Growth Drivers
PIPING INDUSTRY GROWTH DRIVERS India still has way to go with water Government’s strong & clear intent on ensuring Awareness & education on pipes and global infrastructure acts as a force multiplier standards • 600 million Indians face high to extreme stress over water, Led by Government’s continued
Slide 19: Key Business Segments
KEY BUSINESS SEGMENTS NEW APPLICATIONS FAUCETS | Bring Home world class plumbing solutions SANITARYWARE SHOWERS | CISTERNS PIPING BUSINESS WATER STORAGE Investor Presentation |19
Slide 20: Manufacturing Facilities Across the Country
MANUFACTURING FACILITIES ACROSS THE COUNTRY Product - Fittings Product - Pipes & Tanks Product - Pipes & Fittings Product - Pipes ATHAL DADRA HARIDWAR CHENNAI 1995 2000 2008 2012 Installed Installed Installed Installed Capacity 9,537 MTPA Capacity 65,649 MTPA Capacity 98,900 MTPA Capacity 42,376 MTP
Slide 21: Growing Distribution Network
GROWING DISTRIBUTION NETWORK Jammu & Kashmir Himachal Pradesh Punjab Uttarakhand HARIDWAR Haryana Ghaziabad Delhi JAIPUR Siliguri Rajasthan Guwahati Uttar Pradesh Assam Bihar West Bengal Gujarat Agartala Madhya Pradesh Howrah Morbi Chhattisgarh Kolkata ATHAL (D & N.H) DADRA (D & N.H) Nagpur Bhubanes
Slide 22: Board of Directors
BOARD OF DIRECTORS INDEPENDENT & NOMINEE DIRECTORS Mr. Rajendra Gogri Associated with the Independent Director company since 1996. Was awarded Brings experience of nearly four Inspiring ‘Business decades and served as the Chairman Leader Award 2016’ & Managing Director of Aarti at the Economic Indus
Slide 23: Product Portfolio
Product Portfolio
Slide 24: Expanding Range of Products
EXPANDING RANGE OF PRODUCTS • PLUMBING • INDUSTRIAL • SEWERAGE • WATER STORAGE • UNDERGROUND DRAINAGE • MODERN PLUMBING • SURFACE DRAINAGE • CABLE PROTECTION • AGRICULTURE • BATHWARE • BOREWELL Investor Presentation |24
Slide 25: Product Basket
PRODUCT BASKET PLUMBING & SEWERAGE & INDUSTRIAL SYSTEMS UNDERGROUND Investor Presentation |25
Slide 26: Product Basket
PRODUCT BASKET AGRICULTURE & WATER STORAGE WIRE PROTECTION Investor Presentation |26
Slide 27: New Addition to Portfolio
NEW ADDITION TO PORTFOLIO Brings home world class plumbing solutions with German Technology • Skolan Safe Premium PP Silent Drainage Systems - offers the latest • Prince Hauraton - An innovative range of drainage systems developed technological innovation in noise insulated drainage systems sound wi
Slide 28: New Addition to Portfolio
NEW ADDITION TO PORTFOLIO ADORN EVERY SPACE ELEGANT • INDULGENT • STYLISH FAUCET COLLECTIONS SANITARYWARE SHOWERS AURUM TITANIO PLATINA TIARA MARQUISE WASHBASINS META ARGENTO KRISTAL PALLADIUM Investor Presentation |28
Slide 29: Poised for Future Growth
Poised for Future Growth
Slide 30: Global Collaborations
GLOBAL COLLABORATIONS World class technology to strengthen India’s water infrastructure Product Product Product Technical Collaboration Collaboration Collaboration Collaboration Prince Skolan Safe - Premium Polypropylene (PP) Silent An innovative range of Inventors and largest Drainage System manufa
Slide 31: Always Staying Ahead of the Curve
ALWAYS STAYING AHEAD OF THE CURVE 2008 2012 2014 2020 2021 2023 First company to Acquired Chennai & Early movers in Tie up with Lubrizol to Commissioning of Collaborations to venture into North Kolhapur plant Eastern India with a form CPVC compound Telangana plant, bring global India and set up a th
Slide 32: Focus on Triple Bottom Line
FOCUS ON TRIPLE BOTTOM LINE TRIPLE BOTTOM-LINE GOALS GREEN ENERGY 5,47,738 16,827 MT UP TO Q2 FY24 Tree Seedlings Coal Burned Grown for a Decade Reduce Green-house Gas Emissions over the past years Carbon emission reduced Environmental (MT/MT production) since MT Carbon Footprint saved 33.43% FY-17
Slide 33: Awards & Achievements
AWARDS & ACHIEVEMENTS 2016 2021 2023 Certificate of appreciation for Awarded The best channel Awarded Brand of the year- active association at the Loyalty Program for second pipes at Reality+ INEX Gujarat Premier 10th Mega time at the customer FEST Awards 2021 Industrial Exhibition VCCI Awards Globa
Slide 34: Investment Rationale
INVESTMENT RATIONALE 1 2 3 4 5 Huge headroom for Long term demand Legacy Pipe Committed to Strong domain domestic growth – visibility led by Real manufacturer – core transforming India’s expertise of with Per Capita PVC Estate, Industrial competency growing water infrastructure promoters along with
Slide 35: Corporate Information & Shareholding
CORPORATE INFORMATION & SHAREHOLDING Shareholding Pattern (as on 30th Sep 2023) Stock Information Market Cap as on 07th Nov 2023 ₹ 6,932 Cr. 24% Stock Price as on 07th Nov 2023 ₹ 625.20 Institutions 52 Week (High / Low) ₹ 760 / 510 61% 15% Promoters NSE / BSE - Symbol PRINCEPIPE / 542907 Others No.
Slide 36: Annual Financial Performance
ANNUAL FINANCIAL PERFORMANCE ₹ in Crore Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin from Products 2,657 2,711 12.3% 14.0% 17.5% 15.6% 9.2% 5.3% 6.9% 10.7% 9.4% 4.5% 2,072 Margin Margin 415 249 1,561 1,631 362 222 229 250 113 121 184 82 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 F
Slide 37: Outlook
WAY FORWARD OUTLOOK Building presence across the Improving RoCE and RoE Achieving sustainable Reducing costs to ensure Expanding our distribution Introducing value added product chain to strengthen ratios by monitoring volume growth through judicious comfortable EBITDA network across target products
Slide 38: Contact Us
CONTACT US Mr. Anand Gupta PRINCE PIPES AND FITTINGS LIMITED CFO Mail: aag@princepipes.com The Ruby, 8th floor, 29, Senapati Bapat Marg, Dadar West, Mumbai - 400028. India Toll free: 1800 267 7555 Mr. Karl H Kolah Email: info@princepipes.com Head - Investor Relations Mail: khk@princepipes.com
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