Annual Report for the FY 2024-25
PPL · price
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Prakash Pipes Limited submitted its Annual Report for FY 2024-25 along with the notice of its 8th Annual General Meeting. Net sales rose 17% year-on-year to ₹780.48 crore from ₹669.35 crore, driven by a strong 42% jump in flexible packaging revenue (from ₹259 cr to ₹367 cr) and a modest ~3% volume growth in the PVC pipes & fittings division. EBITDA grew 6% to ₹130.22 crore, while profit after tax actually declined about 7% to ₹83.10 crore (from ₹89.64 cr) due to higher raw material and employee costs. EBITDA margin compressed to 16.68% from 18.39%, and net profit margin fell to 10.65% from 13.39%. The Board has recommended a dividend of ₹2.40 per share (24%), and the company continues to carry almost no debt (debt-equity ratio of 0.02) with surplus cash on the books.
Mixed picture for shareholders — healthy top-line expansion and a continued dividend are positives, but shrinking margins and a dip in profits signal pressure from input costs and weak PVC demand. The strong cash balance and near-zero debt offer comfort, while continued capacity additions in flexible packaging position the company for higher-margin export growth ahead.