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Investing.com - Motilal Oswal Securities initiated coverage on Prince Pipes & Fittings (PRINCPIP:IN) with a buy rating and a price target of INR500.00 on Thursday.
The brokerage identified Prince Pipes as one of India’s top five plastic piping providers, operating seven manufacturing plants with a projected capacity of 398,000 MTPA by FY25, offering over 7,200 SKUs through a network of more than 1,500 distributors.
The company generates approximately 25% of its revenue from CPVC products and 70% from the real estate sector, positioning it to benefit from India’s expanding real estate market, according to Motilal Oswal.
The research firm forecasts Prince Pipes will achieve a compound annual growth rate of 15% in revenue, 38% in EBITDA, and 73% in adjusted profit after tax from FY25 to FY28, driven by a 12% volume CAGR.
Motilal Oswal noted the stock currently trades at 22 times FY27 earnings, which it considers an attractive valuation given the company’s growth trajectory, with the INR500 target price based on 32 times FY27 estimated price-to-earnings ratio.
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