FIIs and Dolly Khanna Increase Stake: Small-cap Company Posts 17 Per Cent Sales Growth
The company reported a modest increase in Profit After Tax (PAT) for the second quarter of FY25, with PAT rising by 7.2 per cent to Rs 24.30 crore, compared to Rs 22.67 crore in the same period last year.
Prakash Pipes Ltd reported a modest increase in Profit After Tax (PAT) for the second quarter of FY25, with PAT rising by 7.2 per cent to Rs 24.30 crore, compared to Rs 22.67 crore in the same period last year.
Foreign Institutional Investors (FIIs) and well-known investor Dolly Khanna raised their stakes in Prakash Pipes Ltd during Q2 of FY25. FIIs added 2,56,185 shares, increasing their holding to 2.00 per cent from 0.93 per cent in June 2024. Similarly, Dolly Khanna acquired 2,09,479 shares, lifting her stake to 3.79 per cent, up from 2.91 per cent in June 2024.
Financial Performance
For Q2 FY25 on a year-on-year basis, the company's revenue from operations increased by 17.2 per cent to Rs 200.21 crore, up from Rs 170.86 crore. Meanwhile, its EBITDA saw a growth of 30.5 per cent, reaching Rs 31.48 crore from Rs 24.12 crore in the previous year. EBITDA margin expanded by 162 basis points to 15.73 per cent from 14.11 per cent in the same period last year.
The PVC Pipe and Fittings segment reported revenue of Rs 90.32 crore, showing a decline compared to Rs 101.76 crore, while the Flexible Packaging segment grew significantly by 58.9 per cent, reaching Rs 109.89 crore from Rs 69.10 crore.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
About the Company
Prakash Pipes is engaged in the manufacturing of PVC pipes & fittings and packaging products. It was incorporated in June 2017 created out of a demerger from Prakash Industries Limited. The Company has its manufacturing facilities in India and sells products in domestic as well as International Markets.
The stock of Prakash Pipes Ltd is up by 21.34 per cent Year-to-date, and over the past year, it has risen by 26.43 per cent. The current market capitalization of the company stands at Rs 1,195.92 crore.
Disclaimer: This article is for informational purposes only and not investment advice.