Shares of Prince Pipes and Fittings hit a new high of Rs 659.75, surging 15 per cent on the BSE in the intra-day trade on Friday, after the company reported a 246 per cent year on year (YoY) jump in its profit after tax (PAT) at Rs 97 crore for the fourth quarter of FY21 (Q4FY21) on the back of strong revenue growth.
The company, engaged in integrated piping solutions & multi polymer manufacturers with seven strategically located plants across the country, had posted PAT of Rs 28 crore in the year-ago quarter.
In Q4FY21, the company s revenue increased 77 per cent to Rs 761 crore from Rs 431 crore led by a 26 per cent rise in volume at 41,644 MT over the previous year quarter. The robust volume growth was driven by strong performance of plumbing portfolio. Earnings before interest, taxes, depreciation, and amortization (Ebitda) grew 155 per cent YoY at Rs 147 crore while margin expanded by 590 basis points (bps) at 19.3 per cent during the quarter.