Prince Pipes: Q2FY27 Revenue +38% YoY, Margins at 12.6% Despite Sequential Moderation (NSE: PRINCEPIPE)
On 3 November 2026, Prince Pipes (NSE: PRINCEPIPE, BSE: 542907) reported Q2FY27 revenue of ₹8,208.14 million, up 38.0% year-on-year, while profit after tax jumped 226.3% YoY to ₹477.64 million (BSE filing, 3 November 2026). The company’s EBITDA margin came in at 12.6%, moderating from Q1FY27’s 13.3% but still well above the 9.5% recorded in Q2FY26.
The margin recovery story — from 7.3% to 13.3% in one quarter
The shift started becoming visible in the August 2026 results. For Q1FY27, Prince Pipes reported revenue of ₹6,094.18 million, a 5.0% increase over the prior year, and EBITDA of ₹811.5 million. The EBITDA margin expanded to 13.3% from 7.3% in Q1FY26 (BSE filing, 4 August 2026). Notably, this margin recovery occurred despite volumes falling 7% year-on-year, as stated in a separate filing on the same date (BSE, 4 August 2026).
Seqential comparisons in Q1 told a different story. Revenue fell 28.3% and PAT declined 39.9% from the seasonally strong Q4FY26 (BSE filing, 4 August 2026). One filing put the Q1 revenue at ₹609.42 Cr with EBITDA at ₹81.15 Cr, up 91.8% YoY, and PAT at ₹33.75 Cr, up 600.2% YoY — but with a QoQ drop from the preceding quarter (BSE, 4 August 2026).
What the Q2 numbers add
The 3 November filing shows revenue of INR 821 crore, up 38% YoY, with EBITDA of INR 100 crore, up 82% YoY. Volume growth came in at 22%, partially offsetting a sequential margin moderation to 12.2% from Q1’s 13.3% (BSE filing, 3 November 2026). A second filing on the same date confirms the EBITDA margin figure of 12.6% for Q2FY27 (BSE, 3 November 2026).
Credit rating and management changes in the period
On 8 August 2026, CRISIL reaffirmed the company’s long-term rating at ‘CRISIL A+/Negative’ and short-term rating at ‘CRISIL A1+’ on bank facilities aggregating ₹768 crore (BSE filing, 8 August 2026).
On 20 August 2026, CHRO Ajay Kumar resigned for personal reasons, ceasing to be senior management personnel from the close of business that day (BSE filing, 20 August 2026).
At the 39th AGM on 16 September 2026, shareholders approved the re-appointment of Jayant S. Chheda as Chairman & Managing Director, Parag J. Chheda as Joint Managing Director, and Vipul J. Chheda as Executive Director — each for a three-year term starting 21 August 2026. Statutory auditors N.A. Shah Associates LLP were also re-appointed for a second five-year term (BSE filing, 18 September 2026).
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The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 4 Aug 2026 | Revenue ₹609.42 Cr (+5% YoY), EBITDA ₹81.15 Cr (+91.8% YoY, margin 13.3%), PAT ₹33.75 Cr (+600.2% YoY); sharp YoY margin recovery on input cost tailwinds and operating leverage, but QoQ decline from seasonally strong Q4. | filing | |
| 4 Aug 2026 | Q1FY27 revenue rose to ₹609.42 Cr, +5% YoY, while EBITDA reached ₹81.15 Cr and PAT ₹33.75 Cr; the margin recovery was sharp despite volumes falling 7% YoY, but demand momentum remains uneven. | filing | |
| 4 Aug 2026 | Q1FY27 revenue rose to ₹6,094.18 million, +5.0% YoY, while EBITDA increased to ₹811.5 million and EBITDA margin expanded to 13.3% from 7.3%, although sequential revenue fell 28.3% and PAT declined 39.9% QoQ. | filing | |
| 3 Nov 2026 | Q2FY27 revenue rose 38.0% YoY to ₹8,208.14 million and PAT jumped 226.3% to ₹477.64 million, while EBITDA margin moderated to 12.6% from Q1's 13.3% but remained well above 9.5% a year ago. | filing | |
| 3 Nov 2026 | Q2FY27 revenue rose 38% YoY to INR 821 crore and EBITDA grew 82% to INR 100 crore, while 22% volume growth offset a sequential margin moderation to 12.2% from 13.3%. | filing | |
| 4 Aug 2026 | No earnings-call transcript provided; only the stock exchange intimation letter for Q1FY27 was included, containing no financial results or management commentary. | filing | |
| 8 Aug 2026 | CRISIL reaffirms Prince Pipes' long-term rating at 'A+/Negative' and short-term at 'A1+' on bank facilities of ₹768 crore. | CRISIL Ratings reaffirmed Prince Pipes and Fittings Limited's long-term rating at 'Crisil A+/Negative' and short-term rating at 'Crisil A1+' for its bank loan facilities aggregating ₹768 crore. | filing |
| 11 Aug 2026 | Prince Pipes Q1 FY27 EBITDA margin jumps 600 bps to 13% despite 7% volume decline, driven by product mix shift and pricing power. | filing | |
| 20 Aug 2026 | Prince Pipes & Fittings' CHRO Ajay Kumar resigns effective August 20, 2026, due to personal reasons. | Ajay Kumar, Chief Human Resource Officer of Prince Pipes, resigned for personal reasons and will cease to be a senior management personnel from close of business on August 20, 2026. | filing |
| 18 Sept 2026 | Prince Pipes' AGM approves re-appointment of Chairman Jayant Chheda, Joint MD Parag Chheda, and Executive Director Vipul Chheda for three years, along with statutory auditors N.A. Shah Associates. | Shareholders at the 39th AGM on September 16, 2026 approved the re-appointment of three key managerial personnel: Jayant S. Chheda as Chairman & Managing Director, Parag J. Chheda as Joint Managing Director, and Vipul J. Chheda as Executive Director, each for a three-year term starting August 21, 2026. Additionally, M/s. N.A. Shah Associates LLP was re-appointed as statutory auditors for a second five-year term. | filing |
Quick answers
- What did Prince Pipes disclose?
- On 3 November 2026, Prince Pipes (NSE: PRINCEPIPE, BSE: 542907) reported Q2FY27 revenue of ₹8,208.14 million, up 38.0% year-on-year, while profit after tax jumped 226.3% YoY to ₹477.64 million (BSE filing, 3 November 2026). The company’s EBITDA margin came in at 12.6%, moderating from Q1FY27’s 13.3% but still well above the 9.5% recorded in Q2FY26.
- What are the key numbers?
- The shift started becoming visible in the August 2026 results. For Q1FY27, Prince Pipes reported revenue of ₹6,094.18 million, a 5.0% increase over the prior year, and EBITDA of ₹811.5 million. The EBITDA margin expanded to 13.3% from 7.3% in Q1FY26 (BSE filing, 4 August 2026).
Research and educational content only. Not investment advice. Drafted from regulatory filings and published automatically — see our editorial policy.