Buy Prince Pipes & Fittings, target price Rs 980: HDFC Securities

HDFC Securities has buy call on Prince Pipes & Fittings with a target price of Rs 980. The current market price of Prince Pipes & Fittings is Rs 694.8. Time period given by analyst is one year 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 7667.41 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 31-12-2021, the company reported a Standalone Total Income of Rs 665.72 Crore, down -12.69 % from last quarter Total Income of Rs 762.48 Crore and up 20.24 % from last year same quarter Total Income of Rs 553.64 Crore. Company reported net profit after tax of Rs 67.32 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.94 per cent stake in the company as of 31-Mar-2022, while FIIs owned 3.96 per cent, DIIs 14.04 per cent.