Prince Pipes And Fittings Ltd · NSE:PRINCEPIPE
Prince Pipes And Fittings — Q4 FY24 Earnings Presentation
39 slides from Prince Pipes And Fittings's earnings presentation, May 16, 2024
Slide 1: Cover letter to stock exchanges for analyst call presentation
~PRINCE® -=----- PIPING SYSTEMS PPFL/SE/2024-2025/ o o °l May 16, 2024 To, BSE Limited National Stock Exchange of India Limited 25th Floor, P.J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai-400001 Bandra {E), Mumbai -400051 Scrip Code: 542907 Scrip Code: PRINCEPIPE Dear Sir/Mada
Slide 2: Investor Presentation Q4 & FY24
INVESTOR PRESENTATION Q4 & FY24 PRINCE PIPES AND FITTINGS LIMITED
Slide 3: 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 4: Contents
04 Results Overview 12 Company Overview Contents 23 Product Portfolio 29 Poised for Future Growth
Slide 5: Results Overview
Results Overview
Slide 6: Performance Highlights – Q4 & FY24
PERFORMANCE HIGHLIGHTS – Q4 & FY24 Q4FY24 Vs Q4FY23 FY24 Vs FY23 1 Q4FY24 revenues at ₹ 740 crore as compared to ₹ 764 crore in Q4FY23 1 FY24 revenues stood at ₹ 2,569 crore as compared to ₹ 2,711 crore in FY23 2 Finished Goods volumes in Q4FY24 increased by 16% YoY at 51,444 MT as compared to 44,31
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS Active efforts in solidifying channel network, strengthening brand equity, and new product launches have started to translate into volume growth Resilient performance in Q4 FY24 with a focus on implementing long-term initiatives toward value creation Achieved Finished Goods Volum
Slide 8: Business Highlights: Aquel Acquisition
BUSINESS HIGHLIGHTS Announced acquisition of renowned Bathware Brand Aquel and plant located at Bhuj, Gujarat Signed an Asset Purchase Agreement (APA) with Klaus Waren Fixtures Pvt Ltd., for the acquisition and assignment of identified assets for Rs. 55 crores Aquel provides a strong platform, highl
Slide 9: Financial Performance for Q4FY24
FINANCIAL PERFORMANCE FOR Q4FY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 764 740 51,444 44,317 Q4FY23 Q4FY24 Q4FY23 Q4FY24 EBITDA PAT (₹ in Crs.) (₹ in Crs.) 94 148 92 55 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Investor Presentation | 8
Slide 10: Financial Performance for FY24
FINANCIAL PERFORMANCE FOR FY24 REVENUE FINISHED GOODS SALES VOLUME (₹ in Crs.) (in MT) 2,711 2,569 1,72,793 1,57,717 FY23 FY24 FY23 FY24 EBITDA PAT * 183 (₹ in Crs.) 307 (₹ in Crs.) 250 121 FY23 FY24 FY23 FY24 * Includes Exceptional item for year ended 31.03.24 represents net gain of Rs.17.93 crore
Slide 11: Profit & Loss Statement as on 31st March 2024
PROFIT & LOSS STATEMENT AS ON 31st MARCH 2024 Particulars Q4FY24 Q4FY23 Y-o-Y (%) FY24 FY23 Y-o-Y (%) Total Sales 740 764 (3) 2,569 2,711 (5) Material Consumed 522 512 2 1,820 2,092 (13) Employee benefit expenses 38 31 23 148 116 28 Other Expenses 88 73 21 294 253 16 EBITDA 92 148 38 307 250 23 EBIT
Slide 12: Working Capital Cycle
WORKING CAPITAL CYCLE 95 68 58 57 55 36 36* 66 67 78 59 47 70 40 77 59 62 40 66 60 85 77 56 57 56 83 62 50 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Debtor Days Inventory Days Creditor Days Working Capital Days * Reclassified to 15 days based on regrouping of financials for FY 21 Investor Presentation |11
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 1,913 7,296 cr. 183 cr. ~ 3,38,959 MTPA AQUEL BY PRINCE & PAT Employees Market Cap Total Installed PRINCE TRUBORE (May 16th, 2024) (For FY 2024) Capacity Piping Prod
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 (continued)
…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 | SANITARYWARE Bring Home world class plumbing solutions SHOWERS | CISTERNS PIPING BUSINESS WATER STORAGE Investor Presentation |19
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 & Tanks CHENNAI 1995 2000 2008 2012 Installed Installed Installed Installed Capacity 9,537 MTPA Capacity 65,649 MTPA Capacity 98,900 MTPA Capacity 47,
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 • PTMT TAPWARE • SUB SURFACE DRAINAGE Investor Presentation |24
Slide 26: Product Basket
PRODUCT BASKET PLUMBING & SEWERAGE & INDUSTRIAL SYSTEMS UNDERGROUND Investor Presentation |25
Slide 27: Product Basket
PRODUCT BASKET AGRICULTURE, WIRE PROTECTION WATER STORAGE & SUB SURFACE DRAINAGE PTMT TAPWARE Investor Presentation |26
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: Aquel
NEW ADDITION TO PORTFOLIO A strong platform, complementary to Prince’s growth plans in the high growth Indian bathware market Signed an Asset Purchase Agreement with Klaus Waren Fixtures Pvt Ltd., for the acquisition and assignment of identified assets for Rs. 55 crores in March 2024 Acquisition pre
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 2024 First company to Acquired Chennai & Early movers in Tie up with Lubrizol to Commissioning of Collaborations to Acquire Renowned venture into North Kolhapur plant Eastern India with a form CPVC compound Telangana plant, bring global
Slide 33: Focus on Triple Bottom Line
FOCUS ON TRIPLE BOTTOM LINE TRIPLE BOTTOM-LINE GOALS GREEN ENERGY 6,32,583 19,125 MT UP TO FY24 Tree Seedlings Coal Burned Grown for a Decade Reduce Green-house Gas Emissions over the past years Carbon emission reduced (MT/MT production) since MT Carbon Footprint saved Environmental 29.82% FY-17 1,0
Slide 34: Awards & Achievements
AWARDS & ACHIEVEMENTS 2016 2021 2023 2024 Founder and Chairmen Certificate of appreciation Awarded The best channel Mr. Jayant Chheda Awarded Brand of the for active association at the Loyalty Program for second awarded the lifetime year- pipes at Reality+ Gujarat Premier 10th Mega time at the custo
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 March 2024) Stock Information Market Cap as on 16th May 2024 ₹ 7,296 Cr. 24% Stock Price as on 16th May 2024 ₹ 659.9 Institutions 52 Week (High / Low) ₹ 776 /505 61% 15% Promoters NSE / BSE - Symbol PRINCEPIPE / 542907 Others No.
Slide 37: Annual Financial Performance
ANNUAL FINANCIAL PERFORMANCE ₹ in Crore Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin 2,657 2,711 15.6% 6.9% 10.7% 9.4% 4.5% 7.1% 2,569 14.0% 17.5% 9.2% 12.0% 2,071 415 249 1,636 362 222 307 183* 229 250 113 121 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23
Slide 38: Outlook: Way Forward
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
Prince Pipes and Fittings — Q4 FY24 Earnings Presentation on 6ix