Prince Pipes And Fittings Ltd · NSE:PRINCEPIPE
Prince Pipes And Fittings — Q1 FY24 Earnings Presentation
37 slides from Prince Pipes And Fittings's earnings presentation, August 2023
Slide 1: Investor Presentation Q1FY24
INVESTOR PRESENTATION Q1FY24 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 11 Company Overview Contents 22 Product Portfolio 28 Poised for Future Growth
Slide 4: Results Overview
Results Overview
Slide 5: Performance Highlights – Q1FY24
PERFORMANCE HIGHLIGHTS – Q1FY24 1 Q1FY24 revenues at ₹ 554 crore as compared to ₹ 604 crore in Q1FY23 2 Volumes increased by 19% YoY in Q1FY23 at 37,155 MT as compared to 31,250 MT in Q1FY23 3 EBITDA for Q1FY24 improved by 2% YoY at ₹ 45 crore versus ₹ 44 crore in Q1FY23 • Margins enhanced by 80 bps
Slide 6: Business Highlights
BUSINESS HIGHLIGHTS Unveiled Prince Bathware - A New, Eclectic Range of Faucets, Showers and Bath Accessories in June 2023 • Launched and unveiled its new collection of luxury faucets and sanitaryware. Bihar Inspired by European bathware trends, the new range entails a complete portfolio of world cl
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS Update on Bihar Facility: to further strengthen manufacturing footprint and capacity expansion • Acquired land for 8th manufacturing facility at Begusarai industrial area in Bihar, construction to commence in Q3FY24 • This will cater to demand in the North-East, which will be a m
Slide 8: Financial Performance for Q1FY24
FINANCIAL PERFORMANCE FOR Q1FY24 REVENUE SALES VOLUME (₹ in Crs.) (₹ in Crs.) 604 554 37,155 31,250 Q1FY23 Q1FY24 Q1FY23 Q1FY24 EBITDA PAT (₹ in Crs.) (₹ in Crs.) 44 45 20 16 Q1FY23 Q1FY24 Q1FY23 Q1FY24 Investor Presentation | 8
Slide 9: Profit & Loss Statement as on 30th June 2023
PROFIT & LOSS STATEMENT AS ON 30TH JUNE 2023 Particulars Q1FY24 Q1 FY23 Y-o-Y (%) Total Sales 554 604 (8) Raw Material Consumed 414 478 (13) Employee benefit expenses 32 26 23 Other Expenses 63 56 13 EBITDA 45 44 2 EBITDA Margin (%) 8.1 7.3 80 Bps Depreciation 22 20 10 EBIT 23 24 (4) EBIT Margin (%)
Slide 10: Working Capital Cycle
WORKING CAPITAL CYCLE 68 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 FY18 FY19 FY20 FY21 FY22 FY23 Q1FY24 Debtor Days Inventory Days Creditor Days Working Capital Days * Reclassified to 15 days based on regrouping of financials for FY 21 Investor Presentation |1
Slide 11: Company Overview
Company Overview
Slide 12: 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 13: 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 1,801 7,421 cr. 121 cr. PRINCE & ~3,23,000 MTPA DEBT FREE PAT Employees Market Cap Total Installed TRUBORE (For June 30th, 2023) (For FY 2023) Capacity Pip
Slide 14: 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 15: …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 16: 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 17: 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 18: Key Business Segments
KEY BUSINESS SEGMENTS NEW APPLICATIONS FAUCETS | Bring Home world class plumbing solutions SANITARYWARE SHOWERS | CISTERNS PIPING BUSINESS WATER STORAGE Investor Presentation |18
Slide 19: 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 11,919 MTPA Capacity 60,286 MTPA Capacity 89,163 MTPA Capacity 51,689 MT
Slide 20: 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 21: Board of Directors
BOARD OF DIRECTORS INDEPENDENT & NOMINEE DIRECTORS Mr. Rajendra Gogri Mr. Dilip Deshpande Independent Director Independent Director Associated with the company since 1996. Was awarded Brings experience of nearly four With over 45 years of experience, Inspiring ‘Business decades and served as the has
Slide 22: Product Portfolio
Product Portfolio
Slide 23: 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 |23
Slide 24: Product Basket
PRODUCT BASKET PLUMBING & SEWERAGE & INDUSTRIAL SYSTEMS UNDERGROUND Investor Presentation |24
Slide 25: Product Basket
PRODUCT BASKET AGRICULTURE & WATER STORAGE WIRE PROTECTION Investor Presentation |25
Slide 26: 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 27: 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 |27
Slide 28: Poised for Future Growth
Poised for Future Growth
Slide 29: 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 30: 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 31: Focus on Triple Bottom Line
FOCUS ON TRIPLE BOTTOM LINE TRIPLE BOTTOM-LINE GOALS GREEN ENERGY 4,80,857 14,775 MT UP TO Q1 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 33.53% FY-17
Slide 32: 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 33: 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 34: Corporate Information & Shareholding
CORPORATE INFORMATION & SHAREHOLDING Shareholding Pattern (as on 30th June 2023) Stock Information Market Cap as on 09th Aug 2023 ₹ 7,510 Cr. 23% Stock Price as on 09th Aug 2023 ₹ 679.30 Institutions 52 Week (High / Low) ₹ 695.05 / 513.10 61% 16% Promoters NSE / BSE - Symbol PRINCEPIPE / 542907 Othe
Slide 35: 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 36: 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 37: Contact Us
CONTACT US Mr. Shyam Sharda CFO PRINCE PIPES AND FITTINGS LIMITED Mail: shy@princepipes.com The Ruby, 8th floor, 29, Senapati Bapat Marg, Dadar West, Mumbai - 400028. India Mr. Anand Gupta Toll free: 1800 267 7555 Deputy CFO Email: info@princepipes.com Mail: aag@princepipes.com Mr. Karl H Kolah Head
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