Buy Prince Pipes & Fittings, target price Rs 710: JM Financial

JM Financial has buy call on Prince Pipes & Fittings with a target price of Rs 710. The current market price of Prince Pipes & Fittings is Rs 603.05.

Prince Pipes & Fittings Ltd., incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 6671.84 Crore) operating in Plastics sector.

Prince Pipes & Fittings Ltd. key Products/Revenue Segments include Pipes & Fittings, Scrap, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-12-2022, the company reported a Standalone Total Income of Rs 707.12 Crore, up 10.63 % from last quarter Total Income of Rs 639.16 Crore and up 6.22 % from last year same quarter Total Income of Rs 665.72 Crore. Company reported net profit after tax of Rs 35.39 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.94 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.41 per cent, DIIs 15.45 per cent.