Prince Pipes And Fittings Limited has informed the Exchange about Transcript

Prince Pipes reported Q1 FY26 volumes up 4% YoY at 43,735 metric tons, but revenue fell 4% YoY to INR 580 crore due to weak PVC realizations. EBITDA was INR 40 crore at a 7% margin, hurt by INR 15–20 crore of inventory losses from falling PVC resin prices and INR 5 crore in losses from the Aquel Bathware segment. Management guided that margins will improve sequentially — Q2 better than Q1 and H2 better than H1 — with a normalized ~12% EBITDA margin expected by Q3 or Q4 of FY26. Volume growth guidance was set at high single-digit to low double-digits for the year, supported by the new Bihar plant (targeting 20,000–25,000 tons in FY26) and Aquel's expansion into South and East India (FY26 Bathware revenue target of INR 50–60 crore). Q1 cash capex was INR 75 crore with INR 160–170 crore planned for the rest of FY26; net debt stands at INR 100 crore and working capital improved to 93 days from 98 days.