Incorporated in 1987, Mumbai based Prince Pipes and Fittings Limited is engaged in the manufacturing of polymer pipes and fittings. The company produces four types of polymer pipes including CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC. It is operating in the polymer pipe segment under two brand names; which are Trubore and Prince Piping Systems. The company has a corporate office in Mumbai and a strong presence across North, South and West India.
Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on 30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad (Maharashtra).
The company is also planning to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products. The company sells the products under Prince Piping Systems brand name to 843 distributors which further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly sold to 212 wholesalers and retailers.
- Strong brand presence in pipes and fittings segment
- Diverse product portfolio
- Multi-location manufacturing units in India
- A strong presence in North, West and South India
- A pan-India network of distributors
- Technical collaboration with international players to maintain the quality of products.
Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda, and Heena Parag Chheda are the promoters of the company.
Summary of financial Information (Restated)
|Particulars||For the year/period ended (? in Millions)|
|Three months period|
ended on 30-June-2019
|Profit After Tax||266.69||833.51||727.66||741.82||295.35|
The details of utilization of the proceeds of the Fresh Issue are summarized below:
1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards the establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws.