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    This pipe manufacturer stock gave 20.4% returns in the past year; know why analysts are bullish

    This PVC pipe manufacturer and multi-polymer processor reported a sub-par volume growth of 8% y-o-y

    Synopsis

    Prince Pipes and Fittings is focusing on cost reduction initiatives, value-added products and improving the return ratios for sustainable growth. The pipe industry is expected to grow at 11-12% CAGR over 2020-21 and 2024-25 to reach Rs.55,000-60,000 crore. The management is focusing on strategic steps for sustainable growth. Should you invest?

    Prince Pipes: The PVC pipe manufacturer and multi-polymer processor reported a sub-par volume growth of 8% y-o-y in the September 2023 quarter. This was due to improper pricing relative to peers in some market segments and the company’s limited presence in certain pipe categories that are in high demand. However, the performance was much better compared to the June quarter. On a sequential basis, EBITDA and PAT grew by 108% and 191%,
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    The Economic Times