Prince Pipes: A Major Beneficiary Of Industry Consolidation, Says ICICI Securities
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ICICI Securities Report
We reiterate our positive stance on Prince Pipes and Fittings Ltd. given improving earnings expectations in the near to medium term on the back of -
1. ongoing industry consolidation in the polyvinyl chloride pipe segment, which would drive strong market share gains for the company;
2. its increasing ability to raise CPVC (chlorinated polyvinyl chloride) pipe prices with a higher probability of global CPVC majors taking a price hike in CPVC resin in the near term;
3. likely growth traction in the CPVC pipe segment driven by expected seamless entry into projects and bundling opportunities (post recent tie-up with Lubrizol).
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