Geojit has come out with its report on Prince Pipes and Fittings. The research firm has recommended to "Subscribe'' the IPO in its research report as on December 17, 2019
Geojit's IPO report on Prince Pipes and Fittings
Prince Pipes and Fittings Ltd, is a leading manufacturer of polymer pipes and fittings in India, offering products for varied applications in plumbing, irrigation, and soil, waste and rain water (“SWR”) management. The company markets its products under two brand names: Prince Piping Systems; and Trubore. They have more than 30 years’ experience in the polymer pipes segment. With six strategically located manufacturing plants, the company has strong presence in North, West and South India.
Valuation and Outlook
At the upper price band of Rs178, the company is available at P/E of 23.5x on FY19 which is 22% discount to its peers and we have a ‘SUBSCRIBE’ rating with short to medium term perspective.
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