External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Prince Pipes And Fittings / Equity Bottom-Up

<ul><li>Product Portfolio Enhancement and Innovation: Prince Pipes operates across segments ranging from pipes to water tanks and bathware. Its portfolio consists of 7,200+ SKUs and 1,500+ channel partners.</li><li>The product mix includes PVC, CPVC, UPVC, PPR, and HDPE. Through strategic partnerships, the company has established itself as a first mover in innovative products and projects.</li><li>New launches such as Skolan Safe, StoreFit, DuraFit, and Prince Hauraton have consolidated its position in the drainage and plumbing segments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Product Portfolio Enhancement and Innovation: Prince Pipes operates across segments ranging from pipes to water tanks and bathware. Its portfolio consists of 7,200+ SKUs and 1,500+ channel partners.The product mix includes PVC, CPVC, UPVC, PPR, and HDPE. Through strategic partnerships, the company has established itself as a first mover in innovative products and projects.New launches such as Skolan Safe, StoreFit, DuraFit, and Prince Hauraton have consolidated its position in the drainage and plumbing segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prince Pipes & Fittings Ltd - ‘Piping Up’: Powering Growth Through Innovation...

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We attended the Prince Pipes analyst meet</li><li>The management indicated that plumbing demand was robust in July but has declined from August onwards, with September remaining weak</li><li>Consequently, the company believes it will achieve volume growth at the lower end of its previously targeted range of high single digits to low double digits</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We attended the Prince Pipes analyst meetThe management indicated that plumbing demand was robust in July but has declined from August onwards, with September remaining weakConsequently, the company believes it will achieve volume growth at the lower end of its previously targeted range of high single digits to low double digitsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prince Pipes and Fittings: Demand Weakness Persists, Recovery Awaited. Maintain REDUCE

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Prince Pipes entered the premium bathware segment with the Aquel acquisition, expanding into lifestyle plumbing beyond traditional piping systems.</li>
<li>This move broadens its addressable market and margin profile, creating cross-selling opportunities across its large dealer network. 
</li>
<li>With margin recovery likely and industry destocking easing, Prince Pipes appears well-positioned for rerating and multi-year profit growth.</li>
</ul>


Prince Pipes entered the premium bathware segment with the Aquel acquisition, expanding into lifestyle plumbing beyond traditional piping systems.
This move broadens its addressable market and margin profile, creating cross-selling opportunities across its large dealer network. 

With margin recovery likely and industry destocking easing, Prince Pipes appears well-positioned for rerating and multi-year profit growth.


The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> is looking to raise about US$255m in its upcoming India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



Belrise Industries (9156339Z IN) is looking to raise about US$255m in its upcoming India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

<ul><li>We recently met with the Prince Pipes’ management</li><li>The management noted that industry demand has been subdued and decreasing resin prices is leading to dealers’ destocking</li><li>CPVC resin prices has increased by 1-2% QoQ in Q2, industry has not passed on this to end customer</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We recently met with the Prince Pipes’ managementThe management noted that industry demand has been subdued and decreasing resin prices is leading to dealers’ destockingCPVC resin prices has increased by 1-2% QoQ in Q2, industry has not passed on this to end customerContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prince Pipes and Fittings: Resin Price Volatilty to Drag Q2 Performance. Maintain ADD

India

Prince Pipes and Fittings Limited is a leading Indian manufacturer and supplier of polymer-based piping solutions. The company offers a comprehensive range of products, including CPVC, UPVC, HDPE, and PPR pipes and fittings, catering to plumbing, irrigation, sewerage, and industrial applications. It was established in 1987 and is headquartered in Mumbai, India.

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Prince Pipes And Fittings (PRINCPIP IN)

Prince Pipes & Fittings Ltd - ‘Piping Up’: Powering Growth Through Innovation...

Prince Pipes operates across segments ranging from pipes to water tanks and bathware. Its portfolio consists of 7,200+ SKUs and 1,500+ channel...

Axis Direct

Prince Pipes and Fittings: Demand Weakness Persists, Recovery Awaited. Maintain REDUCE

The management indicated that plumbing demand was robust in July but has declined from August onwards, with September remaining weak

HDFC Securities

The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...

Sudarshan Bhandari

Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Belrise Industries Limited is looking to raise about US$252m in its upcoming India IPO. In this note, we will talk about the IPO valuations.

Akshat Shah

Prince Pipes and Fittings: Resin Price Volatilty to Drag Q2 Performance. Maintain ADD

We recently met with the Prince Pipes’ management. The management noted that industry demand has been subdued and decreasing resin prices is...

HDFC Securities

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Prince Pipes & Fittings Ltd - ‘Piping Up’: Powering Growth Through Innovation...

Prince Pipes operates across segments ranging from pipes to water tanks and bathware. Its portfolio consists of 7,200+ SKUs and 1,500+ channel...

Axis Direct

Prince Pipes and Fittings: Demand Weakness Persists, Recovery Awaited. Maintain REDUCE

The management indicated that plumbing demand was robust in July but has declined from August onwards, with September remaining weak

HDFC Securities

The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

​Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...

Sudarshan Bhandari

Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Belrise Industries Limited is looking to raise about US$252m in its upcoming India IPO. In this note, we will talk about the IPO valuations.

Akshat Shah

Prince Pipes and Fittings: Resin Price Volatilty to Drag Q2 Performance. Maintain ADD

We recently met with the Prince Pipes’ management. The management noted that industry demand has been subdued and decreasing resin prices is...

HDFC Securities

Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...