Prince Pipes And Fittings Ltd · NSE:PRINCEPIPE
Prince Pipes And Fittings — Q3 FY2024 Earnings Presentation
39 slides from Prince Pipes And Fittings's earnings presentation, February 2024
Slide 1: Investor Presentation Q3 & 9M FY24
INVESTOR PRESENTATION Q3 & 9M 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 13 Company Overview Contents 24 Product Portfolio 30 Poised for Future Growth
Slide 4: Results Overview
Results Overview
Slide 5: Performance Highlights – Q3 & 9MFY24
PERFORMANCE HIGHLIGHTS – Q3 & 9MFY24 Q3FY24 Vs Q3FY23 9MFY24 Vs 9MFY23 1 Q3FY24 revenues at ₹ 619 crore as compared to ₹ 706 crore in Q3FY23 1 9MFY24 revenues stood at ₹ 1,829 crore as compared to ₹ 1,946 crore in 9MFY23 2 Finished Goods volumes in Q3FY24 at 42,665 MT as compared to 43,693 MT in Q3F
Slide 6: Business Highlights
BUSINESS HIGHLIGHTS Prince Bathware – First full quarter of sales in Bathware segment, encouraging response from dealers and consumers Presence across more than 100 retail touchpoints as the product continues to make deep inroads into key tier 2 and tier 3 markets of Northern India (Srinagar, Punjab
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS Prince Pipes launches Terrafit - a new range of sub-surface drainage pipes • Terrafit is an innovative solution, addressing challenges related to excessive subsurface water in agriculture and playing a pivotal role in modern infrastructure development by regulating and maintainin
Slide 8: Awards and Accolades Highlights
AWARDS AND ACCOLADES HIGHLIGHTS Dadra plant won Silver Certificate of Merit • Recognition of our commitment towards efficient and sustainable manufacturing, optimizing supply chain operations and efficient & sustainable manufacturing and optimizing supply chain operations Athal Plant won the IMexI C
Slide 9: Financial Performance for Q3FY24
FINANCIAL PERFORMANCE FOR Q3FY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 706 43,693 42,665 619 Q3FY23 Q3FY24 Q3FY23 Q3FY24 EBITDA PAT (₹ in Crs.) 76 (₹ in Crs.) 38 69 35 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Investor Presentation | 9
Slide 10: Financial Performance for 9MFY24
FINANCIAL PERFORMANCE FOR 9MFY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 1,946 1,21,349 1,829 1,13,400 9MFY23 9MFY24 9MFY23 9MFY24 EBITDA 215 PAT * 128 (₹ in Crs.) (₹ in Crs.) 102 27 9MFY23 9MFY24 9MFY23 9MFY24 * Includes Exceptional item for nine months ended 31.12.23 represents net
Slide 11: Profit & Loss Statement as on 31st December 2023
PROFIT & LOSS STATEMENT AS ON 31st DECEMBER 2023 Particulars Q3FY24 Q3FY23 Y-o-Y (%) 9MFY24 9MFY23 Y-o-Y (%) Total Sales 619 706 (12) 1,829 1,946 (6) Raw Material Consumed 432 548 (21) 1,297 1,580 (18) Employee benefit expenses 37 31 20 110 85 29 Other Expenses 74 58 28 207 179 16 EBITDA 76 69 10 21
Slide 12: Working Capital Cycle
WORKING CAPITAL CYCLE 68 69 66 58 57 55 36 36* 66 67 78 59 47 70 40 77 59 62 40 66 60 85 77 56 57 56 63 62 59 73 75 79 FY18 FY19 FY20 FY21 FY22 FY23 H1FY24 9MFY24 Debtor Days Inventory Days Creditor Days Working Capital Days * Reclassified to 15 days based on regrouping of financials for FY 21 Inves
Slide 13: Company Overview
Company Overview
Slide 14: 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 15: 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 1,885 8,212 cr. 121 cr. ~ 3,38,959 MTPA PRINCE PRINCE & PAT Employees Market Cap Total Installed BATHWARE TRUBORE (For Dec 29th, 2023) (For FY 2023) Capacity Piping
Slide 16: 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 17: 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 18: 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 19: 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 20: Key Business Segments
KEY BUSINESS SEGMENTS NEW APPLICATIONS FAUCETS | Bring Home world class plumbing solutions SANITARYWARE SHOWERS | CISTERNS PIPING BUSINESS WATER STORAGE Investor Presentation |20
Slide 21: 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 47,003 MTP
Slide 22: 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 23: 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 24: Product Portfolio
Product Portfolio
Slide 25: 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 |25
Slide 26: Product Basket
PRODUCT BASKET PLUMBING & SEWERAGE & INDUSTRIAL SYSTEMS UNDERGROUND Investor Presentation |26
Slide 27: Product Basket
PRODUCT BASKET AGRICULTURE & WATER STORAGE WIRE PROTECTION Investor Presentation |27
Slide 28: 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 29: 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 |29
Slide 30: Poised for Future Growth
Poised for Future Growth
Slide 31: 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 32: 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 33: Focus on Triple Bottom Line
FOCUS ON TRIPLE BOTTOM LINE TRIPLE BOTTOM-LINE GOALS GREEN ENERGY 5,99,007 18,402 MT UP TO Q3 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 30.71% FY-17
Slide 34: 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 35: 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 36: Corporate Information & Shareholding
CORPORATE INFORMATION & SHAREHOLDING Shareholding Pattern (as on 31st Dec 2023) Stock Information Market Cap as on 05th Feb 2024 ₹ 8,034 Cr. 24% Stock Price as on 05th Feb 2024 ₹ 727 Institutions 52 Week (High / Low) ₹ 760 / 510 61% 15% Promoters NSE / BSE - Symbol PRINCEPIPE / 542907 Others No. of
Slide 37: 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 38: 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 39: 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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