Prince Pipes Delivers Record Q4 Volumes Amid Revenue Growth and Profit Surge

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Prince Pipes and Fittings Ltd. has reported strong financial results for the March 2024 quarter, highlighting robust operational performance and record-breaking sales volumes despite a challenging market environment.

Key Highlights:

Revenue Performance:
The company posted revenue from operations of ₹7.4 billion for Q4 FY24, reflecting a year-on-year growth driven by a 16% rise in sales volumes. This marks the highest-ever quarterly volume sales, reaching 51,444 metric tonnes, as the company capitalized on improved distribution and brand strength.

Profitability:
Profit after tax (PAT) for the quarter stood at ₹241.8 million. The company’s EBITDA margin for Q4 was 12.5%, with EBITDA at ₹920 million, demonstrating effective cost management and rationalization of realizations.

Operational Excellence:
Prince Pipes successfully navigated earlier disruptions caused by ERP implementation, with management crediting the recovery to strengthened distribution networks and channel financing programs. The number of distributors in the channel finance program increased to 146, with sanctioned amounts rising from ₹1.23 billion in Q3 to ₹1.5 billion in Q4.

Market Position:
The company continues to reinforce its leadership in the Indian pipes and fittings sector, focusing on expanding its product portfolio and deepening its market reach.

Strategic Outlook:
Looking ahead, Prince Pipes aims to sustain growth momentum through continued investment in brand equity, distribution, and operational efficiencies.

With these results, Prince Pipes demonstrates resilience and adaptability, positioning itself for continued success in the evolving building materials market.

Source: Moneycontrol, Economic Times, Prince Pipes Q4 FY24 Earnings Call Transcript