The company's profitability was dented by decline in volumes and carrying cost of inventory.
Revenue from operations fell 6.61% year-on-year to Rs 577.72 crore during the quarter. The revenue was adversely impacted by weak demand environment adversely impacting company and industry volumes.
The company reported pre-tax loss of Rs 4.76 crore as against pre-tax profit of Rs 37.63 crore in Q3 FY24.
EBITDA plunged 96% to Rs 3 crore in Q3 FY25 from Rs 76 crore in Q3 FY24.
Finished goods volumes stood at 14,267 million tonnes (MT), registering de-growth of 3% from 42,665 million tonnes.
Parag Chheda, joint managing director, Prince Pipes and Fittings, said, “Our performance in Q3 was impacted by weak demand environment adversely which impacted company and industry volumes. Low PVC prices in the open market led to low channel inventory by dealers. We expect medium term demand to remain healthy. We are implementing a wide range of multi-channel marketing strategies, brand reinforcement, and customer loyalty initiatives on pan-India basis to enhance customer engagement and actively support the company’s sales and marketing efforts.
Aquel by Prince, our Bathware vertical continues to expand presence across markets and ramping up well across North and West India. Several manufacturing and capex-led growth-oriented efforts including Bihar plant, which will be commissioned in Q4 are underway. Looking ahead, we are optimistic about the future and confident that our strategic initiatives will drive growth and further strengthen our market position.”
Prince Pipes and Fittings is one of India’s largest integrated piping solutions providers and multi polymer manufacturers, based in Mumbai, Maharashtra. It has been engaged in the manufacturing of polymer piping solutions in four types of polymers - CPVC, UPVC, HDPE, and PPR.