Prince Pipes Q3FY22: Better performance than peers

Prince Pipes and Fittings Ltd. reported earnings that were not only better than analyst expectations but also better than its peers – Supreme Industries Ltd. and Finolex Industries Ltd.
Prince Pipes’ volumes were down 11.6% compared to last year, but the drop was lower than its peers. Supreme and Finolex had reported a volume drop of 25% and 15%, respectively. Despite lower volumes, revenue grew owing to better product mix, while EBITDA increased owing to cost control measures.
• Revenue up 21% to Rs 664 crore vs Rs 549 crore
• Gross Profit up 8% to Rs 208 crore vs Rs 193 crore
• Gross Profit Margin at 31.3% vs 35.1%
• EBITDA up 8% to Rs 111 crore vs Rs 103 crore
• EBITDA Margin at 16.7% vs 18.7%
• Net profit at Rs 67 crore vs Rs 67 crore
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