Transcript of Earnings Call for Q1FY27

PPFL/SE/2026-2027/023 August 11, 2026 BSE Limited National Stock Exchange of India Limited 25th Floor, P.J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai - 400001 Bandra (E), Mumbai - 400051 Scrip Code: 542907 Scrip Symbol: PRINCEPIPE Dear Sir/Madam, Sub: Transcript of Earnings Call held for Q1 FY27 Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”), please find enclosed herewith the transcript of the Earnings Call for Q1 FY27, held with Analysts and Investors on August 04, 2026. This is for your information and record. Thanking you, Yours Faithfully, For Prince Pipes and Fittings Limited Jyoti Sancheti Company Secretary & Compliance Officer FCS: 9639 Encl. As above Corp. Off.: The Ruby, 8th Floor; 29, Senapati Bapat Marg (Tulsi Pipe Road), Dadar (W), Mumbai - 400 028; Maharashtra, India. T: 022-6602 2222 F: 022-6602 2220 E: info@princepipes.com W: www.princepipes.com Regd. Off.: Survey No. 132/1/1/3, Athal road, Village Athal, Naroli, Silvassa, Dadra Nagar Haveli, India – 396235. CIN: L26932DN1987PLC005837 Printed on 100% Recycled Paper ♻ “Prince Pipes and Fittings Limited Q1 FY27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. NIHAR CHHEDA – VICE PRESIDENT (STRATEGY) – PRINCE PIPES AND FITTINGS LIMITED MR. ANAND GUPTA – CHIEF FINANCIAL OFFICER – PRINCE PIPES AND FITTINGS LIMITED MODERATOR: MR. SUMEET KHAITAN – MUFG INTIME Page 1 of 14 Prince Pipes and Fittings Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY '27 earnings conference call of Prince Pipes and Fittings Limited hosted by MUFG Intime. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sumeet Khaitan from MUFG Intime. Thank you, and over to you, sir. Sumeet Khaitan: Good evening, everyone. I welcome you all to the earnings conference call to discuss Q1 FY '27 results of Prince Pipes and Fittings Limited. To discuss the results, we have from the management, Mr. Nihar Chheda - Vice President (Strategy); and Mr. Anand Gupta - Chief Financial Officer. They will take you through the results and the business performance, after which we will proceed for Q&A session. Before we proceed with the call, I would like to mention that some of the statements made in today's call may be forward-looking in nature and may involve risks and uncertainties. For more details, kindly refer to investor presentation and other filings that can be found on the company's website. With this, I now hand over the call to the management for their opening remarks. Thank you, and over to you, sir. Nihar Chheda: Thank you, Sumeet. Good evening, everyone. Thank you for joining us for our first quarter FY '27 financial results call. The presentation and press release has been issued to the stock exchanges and uploaded on our website. I hope everyone has been able to go through the same. Before I share the demand outlook and our strategic initiatives, I would comment on the raw material scenario. While PVC resin prices witnessed a recovery during the March quarter, prices saw a sharp correction from early April following the temporary suspension of import duty on PVC resin till June '26, which introduced fresh uncertainty into the market and resulted in destocking across channel partners across the industry. Despite these external challenges, Prince Pipes remained firmly focused on executing our long- term strategy, which is based on 3 pillars: product innovation, distributor network expansion and retailer network expansion. Innovation and product development continue to be key pillars of our long-term growth strategy. As the Indian piping industry evolves, we are actually seeing a gradual shift from conventional commodity products towards more advanced performance-driven solutions. This transition presents a significant opportunity for value creation, and we are focused on expanding our portfolio with differentiated offerings that address the customers' needs. While PVC has been the traditional material of choice, evolving customer expectations around faster installation, low noise performance and lower lifetime maintenance are creating demand for next-generation solutions. Page 2 of 14 Prince Pipes and Fittings Limited August 04, 2026 We have developed our polypropylene-based drainage system, DECILO, which is designed to deliver superior performance across these parameters. We believe that DECILO has the potential to redefine customer expectations and establish new benchmarks for architects, developers and plumbing consultants while selecting pipes. We have started manufacturing DECILO at our Haridwar facility and material has started to be installed in not only residential projects, but also commercial projects like hospitals and hotels across India. Our second pillar for growth has been distribution network expansion. At the beginning of this fiscal year, we have identified white spaces at a district and taluka level across India. In the June quarter, we have been able to add many new channel partners, and we will continue to do so aggressively in the September quarter. Network expansion will be a key lever for growth going forward. And thirdly, we have strengthened our program of digitizing our value chain. DMS, which is Distributor Management Systems, are now fully in place, and now we have complete visibility and tracking of secondary sales at a retailer level. Our scheme spends are now directly targeted to retailers across the country, which has helped us move from a -- move to a pull-based demand model rather than the legacy push-based way of selling. Furthermore, SFA, which is Sales Force Automation, also is in place, which is helping us improve productivity of the ground level sales force. Lastly, brand building also is a key strategic priority for us during this quarter. We significantly enhanced our consumer outreach through high visibility campaigns across local trains, buses and other strategic locations with strong daily footfall. These branding initiatives are designed to reinforce Prince's brand recall and to further strengthen our positioning as a trusted provider of high quality piping systems. We expect industry demand to be supported by a recovery in infrastructure activity, increasing premiumization across product categories and the benefits of operating leverage as market conditions normalize. Thank you for your time. I will now hand it over to our CFO, Anand, to take you through the fiscal highlights. Anand Gupta: Thank you, Nihar, and very good evening, everyone. I'll be taking you through the quarter 1 FY '27 financials now. Revenue from operation in this quarter stood at INR 609 crores, a growth of 5% Y-o-Y. Our volumes for the quarter stood at 40,729 metric tons, degrew by 7% Y-o-Y. EBITDA for the quarter stood at INR 77 crores, a growth of 93% Y-o-Y, while margins stood at 13%, registering a 600 basis point growth. Profit after tax for the quarter stood at INR 34 crores, a growth of 580% Y-o-Y. PAT margin for the quarter stood at 6%. Working capital days stood at 71 days in Q1 FY '27. Receivable days stood at 40 days, whereas inventory days stood at 100 days as of 30th June 2026. With this, I now end my speech and open the forum for question-and-answer session. Moderator: The first question is from the line of Shravan Shah from Dolat Capital. Page 3 of 14 Prince Pipes and Fittings Limited August 04, 2026 Shravan Shah: A couple of questions to get a better understanding of result. And congratulations on a good set of results, particularly on the margin front. So before asking the question, just [Showing first 8,000 characters — download PDF for full document]