Prince Pipes - Multiple Growth Levers At Play, Attractive Valuation: IDBI Capital Initiates Coverage

IDBI Capital Report

We are structurally positive on pipes segment of building material products given its-

1. multiple demand drivers viz agricultural, plumbing, soil, waste and rainwater pipe, industrial infrastructure,

2. industry consolidation driving market share gain by organised players,

3. robust demand outlook of the industry.

After a challenging H1 FY23 (on account of inventory loss and destocking by channel partners), we believe things should normalise eventually on PVC pricing front as well as inventory restocking.

We like Prince Pipes and Fittings Ltd. amongst the organised players owing to its-

1. legacy of over three decades in the business,

2. comprehensive product portfolio across four key polymers,

3. strategically located manufacturing plants,

4. extensive distribution reach, and

5. consistent efforts on creating strong brand equity.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.