Prince Pipes And Fittings Reports Q2 & H1 FY26 Results; EBITDA Margin at 9%
Prince Pipes announced Q2 FY26 results with ₹595 crore revenue and 9% EBITDA margin. Operational highlights include Bihar plant expansion and Navi Mumbai Airport project win. Management expects H2 FY26 demand recovery.
The results show mixed financial performance with revenue decline but improved profitability metrics in Q2. Significant operational achievements like capacity expansion and securing the Navi Mumbai Airport project indicate strategic progress. The expectation of demand recovery in H2 FY26 is a key forward-looking statement.
While Q2 FY26 saw revenue decline and H1 FY26 showed overall revenue and profit decline, the company reported strong Q2 EBITDA and PAT growth both YoY and QoQ, along with significant operational milestones and a positive outlook for H2 FY26.
* Prince Pipes and Fittings Ltd. announced its unaudited financial results for the quarter and half year ended September 30, 2025. * For Q2 FY26, revenues stood at ₹595 crore, a 4% decrease year-on-year. EBITDA was ₹55 crore, a 20% increase year-on-year, with EBITDA margins at 9% compared to 7% in Q2 FY25. Profit after Tax (PAT) was ₹15 crore, flat year-on-year, but a 200% increase quarter-on-quarter. * For H1 FY26, revenues were ₹1,175 crore, a 4% decrease year-on-year. EBITDA was ₹95 crore, a 9% decrease year-on-year, and PAT was ₹20 crore, a 49% decrease year-on-year. * Finished Goods Volume for Q2 FY26 was 42,761 MT, a 1% decrease year-on-year, while H1 FY26 volume was 86,496 MT, a 1% increase year-on-year. * Operational Highlights: * Successfully commenced Phase 2 operations of the Bihar manufacturing plant, increasing total installed capacity to 435,222 MT. * Chosen as the preferred supplier of CPVC and cable ducting solutions for the Navi Mumbai Airport project. * The Bathware segment, Aquel, expanded its retail presence with display outlets launched in Jammu & Kashmir and Uttar Pradesh. * The company won the Ambiton Box Employee choice award. * Mr. Parag Chheda, Joint Managing Director, stated that the PVC industry faced a challenging macroeconomic environment with subdued demand and PVC resin price fluctuations. Demand in key segments like infrastructure, real estate, and agriculture remained soft due to an uneven monsoon. * Despite headwinds, the company focused on cost optimization and market initiatives, expecting demand to recover in the second half of FY26. He highlighted capacity expansion, market diversification, and commitment to serving critical infrastructure projects.
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