Prakash Pipes Q1 Results Total Income ₹204.82 Crores & Operating Profit ₹30.45 Crores

Prakash Pipes Q1 Results: The Prakash Pipes Q1 results show how the company performed in the first quarter of the fiscal year compared to both the previous quarter (QoQ) and the same quarter last year (YoY). In this period, Prakash Pipes achieved a total revenue of ₹204.82 crores, which is a significant increase of 24.35% compared to the previous quarter's revenue of ₹155.87 crores. This indicates strong growth quarter-on-quarter. Year-over-year, the revenue also grew by 16.67% from ₹175.56 crores in the same quarter last year.

Prakash Pipes’ Selling, general, and administrative expenses were ₹9.58 crores, up 19.05% from the previous quarter and 15.56% YoY. Depreciation and amortization costs increased by 15.09% QoQ and 3.83% YoY. Other operating expenses saw a 16.30% rise quarter-on-quarter and a 5.23% increase year-over-year. Despite these higher costs, total operating expenses increased by 25.37% from the previous quarter and 12.70% YoY.

Prakash Pipes’ Operating income surged by 82.08% QoQ and 46.11% YoY, showing a strong improvement in profitability. Net income before taxes increased by 101.43% quarter-on-quarter and 55.96% year-over-year. Finally, net income rose by 28.71% QoQ and 37.52% YoY, and diluted normalized EPS improved by 28.21% quarter-on-quarter and 37.56% year-over-year. This overall positive performance highlights strong growth and effective financial management by Prakash Pipes.

Here’s a simple breakdown of Prakash Pipes' Q1 results:

(All figures in crores except per share values)

Source: Here 

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Prakash Pipes Q1 Results

Prakash Pipes reported its financial performance for the quarter ending June 30, 2024. The company’s revenue from operations was ₹20,482 lakhs, which is higher than ₹16,471 lakhs from the previous quarter but a bit more than ₹17,556 lakhs from the same quarter last year. They earned an additional ₹504 lakhs from other sources, making the total income ₹20,986 lakhs for this quarter, up from ₹16,942 lakhs last quarter and ₹17,674 lakhs a year ago.

Prakash Pipes’ total expenses for the quarter were ₹17,608 lakhs. This includes costs like materials (₹14,626 lakhs), changes in inventory (a decrease of ₹282 lakhs), employee expenses (₹958 lakhs), and other costs (₹1,891 lakhs). Their profit before tax was ₹3,378 lakhs, which is slightly higher than the previous quarter’s ₹3,091 lakhs and more than last year’s ₹2,166 lakhs.

Prakash Pipes’ After accounting for taxes, which totaled ₹838 lakhs, their net profit for the quarter was ₹2,540 lakhs, compared to ₹2,536 lakhs last quarter and ₹1,847 lakhs a year ago. Their earnings per share were ₹10.62, showing a steady performance. The company’s financial health seems strong, with improved revenue and profits compared to previous periods.

Here's a summary of the unaudited financial results for the quarter ended June 30, 2024:

(fin lakhs)

Prakash Pipes Financial Metrics

The table shows the financial details of Prakash Pipes. The company is valued at ₹1,458 Crore, with its current stock price at ₹609. The highest price over a certain period was ₹668, while the lowest was ₹248. The Price-to-Earnings ratio (P/E) is 15.1, meaning investors pay ₹15.1 for every ₹1 of earnings. The Book Value is ₹153, reflecting the value of the company’s assets minus liabilities. The dividend yield is 0.29%, indicating the return on investment from dividends. 

Here is the financial data in table format:

Quarterly Results 

For Prakash Pipes, the financial data for December 2023, March 2024, and June 2024 shows the company's performance over these periods. In December 2023, the company had sales of Rs. 158 crores and expenses of Rs. 128 crores, leading to an operating profit of Rs. 30 crores. The operating profit margin (OPM) was 19%. By March 2024, sales increased to Rs. 165 crores with expenses at Rs. 135 crores, maintaining an operating profit of Rs. 30 crores but with a slightly lower OPM of 18%. In June 2024, sales grew to Rs. 205 crores, expenses rose to Rs. 172 crores, and operating profit increased to Rs. 33 crores, but the OPM decreased to 16%.

Here is the table for December 2023, March 2024, and June 2024:

About Prakash Pipes 

Prakash Pipes, founded by Shri Ved Prakash Agarwal in 1981, is a well-respected company specializing in the manufacturing of PVC pipes and fittings. Over the years, Prakash Pipes has built a strong reputation for quality in the market. They produce a variety of products including Agri Pipes, Column Pipes, Plumbing Pipes, Casing Pipes, SWR Pipes, Garden Pipes, and their fittings. These products are used in irrigation, drainage, housing, and sanitation projects.

Recently, Prakash Pipes expanded into flexible packaging. They established a modern plant in Kashipur, Uttarakhand, which meets high standards such as ISO 22000:2005, ISO 9001:2015, and BRC. This new division produces high-performance barrier films and laminates for packaging food, beverages, oil, personal care products, and pharmaceuticals. They aim to provide complete packaging solutions, including laminates and pouches for items like snacks and shampoos.

Prakash Pipes is committed to innovation and constantly improving its products to meet the growing demands for water and sanitation. They also ensure every product undergoes thorough quality control. The Kashipur plant, which covers 60 acres, includes more than 50% dedicated to forestation and planting, showing their commitment to environmental responsibility.