Prakash Pipes Ltd.

•

prakashplastics.inBSE: 542684NSE: PPL

Market Cap₹ 689 Cr.

Current Price

High / Low₹ 334 / 163

Stock P/E14.0

Book Value₹ 207

Price to Book0.82

Dividend Yield1.18 %

ROCE12.5 %

ROE9.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • PVC Pipe and Fitting: 53.8% • Flexible Packaging: 46.2%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 24.0%
Latest quarter profit grew 59.3% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.99x)
Working capital cycle has improved - days down from 146 to 60
Company comfortably covers its interest (19.2x coverage)

CONS

Company has delivered a poor profit growth of 3.9% over past five years
Operating margins have contracted to 8.5% from 14.8%
Growth is decelerating - 3Y profit CAGR (-15.3%) trails the 5Y trend (3.9%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsPlastic ProductsPlastic Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUPREMEIND	3509.50	43.18	44580.08	1.03	280.72	38.76	2717.66	4.16	21.49	17.33
2.	ASTRAL	1471.15	68.67	39522.47	0.27	120.20	51.77	1578.00	15.93	19.95	14.65
3.	SHAILY	3445.35	89.63	15846.97	0.09	48.01	16.75	280.67	13.77	29.46	29.59
4.	GRWRHITECH	6755.75	40.47	15695.22	0.18	132.65	59.78	633.08	27.90	18.08	27.17
5.	FINPIPE	156.70	15.80	9722.87	1.75	114.52	16.67	883.58	-15.30	12.73	12.09
6.	TIMETECHNO	185.95	18.74	9179.15	0.81	1178.60	1120.71	16927.10	1151.40	17.37	13.25
7.	KINGFA	6167.55	37.03	8357.88	0.00	80.21	101.58	688.57	49.06	30.70	16.12
8.	RESPONIND	169.65	44.65	4523.01	0.06	2.74	-94.51	192.87	-43.06	10.76	12.09
9.	POLYPLEX	1139.35	23.03	3576.70	0.26	171.07	386.02	2253.62	29.62	1.51	13.15
10.	PRINCEPIPE	280.95	30.42	3106.21	0.36	337.49	6900.41	6094.18	949.97	6.20	12.66
11.	NILKAMAL	2054.30	24.59	3065.53	0.97	24.40	59.20	819.73	-7.18	10.76	9.44
12.	PPL	288.05	13.96	688.97	1.18	16.42	59.26	241.45	18.70	12.53	7.54

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	176	171	158	165	205	200	192	183	203	181	181	223	241
	152	147	128	135	172	169	157	165	187	166	163	206	228
Operating Profit	23	24	30	30	33	31	36	18	16	15	18	17	14
OPM %	13.21%	14.12%	18.89%	18.32%	16.06%	15.72%	18.61%	9.58%	8.01%	8.50%	9.78%	7.65%	5.61%
	1	5	4	5	5	5	1	1	2	1	-0	6	9
Interest	0	0	2	1	2	2	2	1	1	0	1	1	1
Depreciation	2	2	2	3	2	3	3	3	3	4	4	4	4
Profit before Tax	22	27	30	31	34	32	31	15	14	12	13	19	22
Tax %	14.73%	15.47%	23.40%	17.96%	24.81%	24.51%	26.59%	30.10%	25.61%	24.82%	24.61%	27.21%	25.53%
Net Profit	18	23	23	25	25	24	23	10	10	9	10	13	16
	7.72	9.48	9.67	10.61	10.62	10.16	9.66	4.30	4.31	3.91	4.23	5.64	6.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	341	385	476	617	709	669	780	789	827
	0	302	347	418	539	626	562	663	722	763
Operating Profit	0	39	38	59	77	83	107	118	67	64
OPM %	—	11.32%	9.97%	12.29%	12.56%	11.74%	16.06%	15.11%	8.46%	7.71%
	0	5	4	2	3	22	16	13	9	16
Interest	0	0	2	2	2	3	4	7	3	3
Depreciation	0	5	6	8	11	12	10	11	15	15
Profit before Tax	0	38	34	51	67	89	110	112	58	66
Tax %	—	25.40%	27.84%	29.51%	30.28%	20.33%	18.21%	25.92%	25.72%	25.68%
Net Profit	0	29	25	36	47	71	90	83	43	49
EPS	0.00	0.00	0.00	16.41	18.88	29.81	37.47	34.74	18.09	—
Dividend Payout %	—	—	9.90%	8.02%	6.13%	4.03%	4.80%	6.91%	18.80%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 11%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: -15%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 12%
3 Years:: 2%
1 Year:: -11%

RETURN ON EQUITY

10 Years:: —
5 Years:: 21%
3 Years:: 19%
Last Year:: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	20	24	24	24	24	24	24
	89	112	168	211	255	341	420	455
	0	5	2	5	9	36	34	15
Trade Payables	16	19	22	24	25	43	43	56
	14	-0	7	20	27	44	55	54
Total Liabilities	119	156	222	284	340	489	576	603
	43	55	77	101	68	71	127	136
Capital Work in Progress	0	0	0	4	5	9	7	18
	0	0	0	0	0	42	13	0
	17	30	55	59	49	55	67	84
	0	0	0	0	0	75	87	97
Cash & Bank	1	12	32	46	121	216	257	56
	58	60	57	73	98	21	18	211
Total Assets	119	156	222	284	340	489	576	603

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	28	22	36	63	57	120	73	20
Cash from Investing	-20	-15	-33	-36	16	-46	-26	-197
Cash from Financing	0	2	18	0	0	26	-10	-32
	0	0	15	16	59	99	38	-209

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.27	44.41	44.41	44.41	44.41	44.41	44.41	44.50	44.50
	0.93	2.00	1.67	1.29	1.00	0.54	0.46	0.43	0.86
	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	54.80	53.59	53.92	54.30	54.58	55.05	55.13	55.06	54.61

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Prakash Pipes Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 9th Annual General Meeting, Record Date and E-voting

2026-09-07

Record Date

2026-09-07 - Prakash Pipes Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.

2026-09-07

Shareholders meeting

2026-09-07 - Prakash Pipes Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Prakash Pipes Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Press Release

2026-08-14 - Prakash Pipes Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Press Release".

2026-08-14

Capacity addition

2026-08-14 - Prakash Pipes Limited has informed the Exchange about Capacity addition

2026-08-14

Outcome of Board Meeting

2026-08-14 - Prakash Pipes Limited has informed the Exchange regarding the appointment of Senior Management Personnel of the Company

2026-08-14

Outcome of Board Meeting

2026-08-14 - Prakash Pipes Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Prakash Pipes Limited has informed the Exchange about Copy of Newspaper Publication regarding the transfer of unclaimed dividend and corresponding equity shares to the IEPF

News

Recent coverage and analyst commentary for PPL

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