Buy Prince Pipes & Fittings, target price Rs 885: HDFC Securities

HDFC Securities has buy call on Prince Pipes & Fittings Ltd. with a target price of Rs 885. The current market price of Prince Pipes & Fittings is Rs 760.1.

Time period given by analyst is six months when Prince Pipes & Fittings Ltd. price can reach defined target.

Prince Pipes & Fittings Ltd., incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 8222.78 Crore) operating in Plastics sector.


Prince Pipes & Fittings Ltd. key Products/Revenue Segments include Pipes & Fittings, Scrap, Contract Revenue, Other Operating Revenue and Duty Drawback for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 332.80 Crore, down -56.54 % from last quarter Total Income of Rs 765.85 Crore and up 8.16 % from last year same quarter Total Income of Rs 307.69 Crore. Company reported net profit after tax of Rs 17.75 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 63.25 per cent stake in the company as of 30-Sep-2021, while FIIs owned 3.6 per cent, DIIs 11.77 per cent.