# Plastics - Pipes & Fittings — company-by-company sector analysis > Plastics - Pipes & Fittings: Prakash Pipes Ltd owns the largest revenue base AND the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-16. Not investment advice. ## Bottom line The 52-week sector comparison is unavailable. 1 of 1 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Prakash Pipes Ltd leads with revenue of ₹826 crore, based on 1 of 1 comparable companies through Jun 2026. Prakash Pipes Ltd has the fastest current revenue growth at 6.2%, across 1 of 1 comparable companies. ## Sector relative strength The 52-week comparison of Plastics - Pipes & Fittings against NIFTY 500 is not available from the current market series. Over 13 weeks the gap is a lead of 41%. 1 of 1 covered company currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is broad. 13-week sector return versus NIFTY 500: 41% 52-week sector return versus NIFTY 500: — Stocks leading NIFTY: 1/1 Stocks leading sector: 0/0 Central tension: The central tension: current leadership is concentrated, so durability matters more than rank. Companies: 1 Combined market value: ₹656 Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Prakash Pipes Ltd (PPL): 38/100 — Mixed-negative evidence; evidence 69% - Growth & earnings 8.4/35 | Capital efficiency 9.8/25 | Valuation 6.8/20 | Relative strength 12.5/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of 4 weeks with a reading, within the last 12 - Exact sum: 8.4 + 9.8 + 6.8 + 12.5 = 37.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. ## Market action Price shows what happened; relative strength shows who is winning the argument against the market and the sector. Prakash Pipes Ltd leads on Mansfield relative strength against NIFTY at +9.3%. 1 of 1 covered company is above zero on that measure. Every line covers 313 weekly closes through 2026-08-14. ### Strongest one-year price performers ### Strongest relative strength versus NIFTY 500 1. Prakash Pipes Ltd (PPL): 9.3% ## Plastics - Pipes & Fittings — the story behind the numbers This is the written read behind the Plastics - Pipes & Fittings figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 25 Jul 2026. 5 themes are live here, 1 of them rated high severity. The Plastics - Pipes & Fittings sector data for the week ending 2026-07-19 relies on a single constituent, Prakash Pipes Ltd (PPL). The company reported Revenue from operations of ₹223.15 Cr, increasing 21.97% YoY. However, Operating EBITDA declined 2.3% YoY to ₹17.1 Cr, with margins contracting 193 bps to 7.65%. How old this read is: This read comes from our Plastics - Pipes & Fittings sector brief dated 25 Jul 2026, so the words here and the numbers above them cover the same few weeks. ### Live themes, worst first - HIGH | PVC resin price volatility and rising raw material costs compressed operating margins to 7.65% in Q4 FY26 from 9.58% year-ago, representing 193 bps YoY erosion. | Enhanced procurement strategies ensuring better pricing and availability; 100% recycling of PVC pipe rejects/process waste | named for PPL - MEDIUM | MD cited tariff wars and geopolitical conflicts contributing to heightened global volatility and subdued demand conditions in FY25. | Company remains confident in future prospects for FY26; strategically placed to capitalise on emerging opportunities | named for PPL - MEDIUM | New Labour Codes effective November 2025 with rules yet notified; Plastic Waste Management Rules 2022 require Extended Producer Responsibility compliance. | Company estimated past service cost as not material; monitors finalization of Central/State Rules | named for PPL - LOW | FY25 brought supply chain delays; company maintains in-house fleet of trucks for logistics in North India distribution network. | Strengthened supplier partnerships to ensure stable raw material flow; in-house fleet of trucks for better logistics | named for PPL - LOW | New Labour Codes effective 21st November 2025; company assessed past service cost impact as not material based on existing wage structure review. | Company continues to monitor finalization of Central/State Rules and would provide appropriate accounting effect based on developments | named for PPL Sources: our Plastics - Pipes & Fittings sector brief, 25 Jul 2026. ## Revenue Scale & Growth Durability What the numbers say: Prakash Pipes Ltd is the scale leader at ₹826 crore, Prakash Pipes Ltd's growth is 6.2% from a ₹826 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Prakash Pipes Ltd is the scale benchmark; Prakash Pipes Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Prakash Pipes Ltd's growth falls below Prakash Pipes Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Prakash Pipes Ltd · ₹826 crore | Not enough peers | 5/8 recent comparable periods | 1/1 companies · 14 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Prakash Pipes Ltd (PPL): ₹826 Cr ### Revenue growth — fastest growers 1. Prakash Pipes Ltd (PPL): 6.2% ### 20-quarter Revenue history - PPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹156 Cr | Jun 2023 ₹176 Cr | Sep 2023 ₹171 Cr | Dec 2023 ₹158 Cr | Mar 2024 ₹165 Cr | Jun 2024 ₹205 Cr | Sep 2024 ₹200 Cr | Dec 2024 ₹192 Cr | Mar 2025 ₹183 Cr | Jun 2025 ₹203 Cr | Sep 2025 ₹181 Cr | Dec 2025 ₹181 Cr | Mar 2026 ₹223 Cr | Jun 2026 ₹241 Cr ### 20-quarter Revenue growth history - PPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 5.8% | Jun 2024 16% | Sep 2024 17% | Dec 2024 22% | Mar 2025 11% | Jun 2025 -1.0% | Sep 2025 -9.5% | Dec 2025 -5.7% | Mar 2026 22% | Jun 2026 19% ## Operating Economics & Margin Trend What the numbers say: Prakash Pipes Ltd leads both opm at 8% and margin change at 0 percentage points. Investor read: Prakash Pipes Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: Prakash Pipes Ltd · 8% | Not enough peers | 1/8 recent comparable periods | 1/1 companies · 20 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Prakash Pipes Ltd (PPL): 8.0% ### Margin change — fastest expanders 1. Prakash Pipes Ltd (PPL): 0.0 pp ### 20-quarter OPM history - PPL: Sep 2021 11% | Dec 2021 13% | Mar 2022 13% | Jun 2022 11% | Sep 2022 11% | Dec 2022 12% | Mar 2023 12% | Jun 2023 13% | Sep 2023 14% | Dec 2023 19% | Mar 2024 18% | Jun 2024 16% | Sep 2024 16% | Dec 2024 19% | Mar 2025 10% | Jun 2025 8.0% | Sep 2025 8.0% | Dec 2025 10% | Mar 2026 8.0% | Jun 2026 8.0% ### 20-quarter Margin change history - PPL: Sep 2021 −0.2 pp | Dec 2021 +0.6 pp | Mar 2022 +0.7 pp | Jun 2022 −2.5 pp | Sep 2022 +0.3 pp | Dec 2022 −1.0 pp | Mar 2023 −0.6 pp | Jun 2023 +1.7 pp | Sep 2023 +2.5 pp | Dec 2023 +6.9 pp | Mar 2024 +6.0 pp | Jun 2024 +3.0 pp | Sep 2024 +2.0 pp | Dec 2024 0.0 pp | Mar 2025 −8.0 pp | Jun 2025 −8.0 pp | Sep 2025 −8.0 pp | Dec 2025 −9.0 pp | Mar 2026 −2.0 pp | Jun 2026 0.0 pp ## Profit Scale & Acceleration What the numbers say: Prakash Pipes Ltd leads with ₹48 crore of TTM profit, Prakash Pipes Ltd shows -28.4% growth from a ₹48 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Prakash Pipes Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: Prakash Pipes Ltd · ₹48 crore | Not enough peers | 3/8 recent comparable periods | 1/1 companies · 14 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Prakash Pipes Ltd (PPL): ₹48 Cr ### Profit growth — fastest growers 1. Prakash Pipes Ltd (PPL): -28% ### 20-quarter Net profit history - PPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹20 Cr | Jun 2023 ₹18 Cr | Sep 2023 ₹23 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹10 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹13 Cr | Jun 2026 ₹16 Cr ### 20-quarter Profit growth history - PPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 25% | Jun 2024 39% | Sep 2024 4.4% | Dec 2024 0.0% | Mar 2025 -60% | Jun 2025 -60% | Sep 2025 -63% | Dec 2025 -57% | Mar 2026 30% | Jun 2026 60% ## Return On Capital Employed What the numbers say: Prakash Pipes Ltd leads ROCE at 12.5%. Prakash Pipes Ltd has the strongest latest improvement at -15 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Prakash Pipes Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Prakash Pipes Ltd · 12.5% | Not enough peers | Not enough history | 1/1 companies · 0 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Prakash Pipes Ltd (PPL): 13% ### ROCE change — fastest improvers 1. Prakash Pipes Ltd (PPL): −15.0 pp ### 20-quarter ROCE history ### 20-quarter ROCE change history ## Valuation Against Growth & Quality What the numbers say: There is not enough comparable evidence to name a reliable peg leader. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: No comparable leader | Not enough peers | Not enough history | 0/1 companies · 0 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG ### P/E — lowest P/E 1. Prakash Pipes Ltd (PPL): 13.3 ### 20-quarter PEG history ### 20-quarter P/E history - PPL: Sep 2021 9.1 | Dec 2021 7.1 | Mar 2022 8.6 | Jun 2022 8.3 | Sep 2022 6.6 | Dec 2022 6.3 | Mar 2023 5.1 | Jun 2023 5.8 | Sep 2023 9.8 | Dec 2023 12.8 | Mar 2024 10.1 | Jun 2024 12.1 | Sep 2024 14.2 | Dec 2024 11.9 | Mar 2025 9.9 | Jun 2025 11.6 | Sep 2025 10.7 | Dec 2025 10.9 | Mar 2026 10.5 | Jun 2026 14.5 ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - Thin comparisons: Valuation have fewer than three usable current readings. ## Every company - Prakash Pipes Ltd (PPL) — market value ₹656 Cr; latest fundamentals Jun 2026 ## Source standing of each company Cross-checked: 0. Unverified: 1. Withheld: 0. Graded companies: 1. Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld. ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Plastics - Pipes & Fittings sector outperforming NIFTY 500? The 52-week sector comparison is unavailable. 1 of 1 covered companies currently have positive Mansfield relative strength versus NIFTY 500. ### Which Plastics - Pipes & Fittings company is largest by revenue? Prakash Pipes Ltd leads with revenue of ₹826 crore, based on 1 of 1 comparable companies through Jun 2026. ### Which Plastics - Pipes & Fittings company is growing fastest? Prakash Pipes Ltd has the fastest current revenue growth at 6.2%, across 1 of 1 comparable companies. ### Which Plastics - Pipes & Fittings company has the strongest 4-Factor Sector Score? Prakash Pipes Ltd ranks first at 37.5/100 with 69% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### How much history does this Plastics - Pipes & Fittings comparison include? The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Is there a Nifty Plastics - Pipes & Fittings index? NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Plastics - Pipes & Fittings, this page builds its own equal-weight basket of 1 listed Plastics - Pipes & Fittings companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026. ### Which are the best Plastics - Pipes & Fittings stocks in India? Ranked by this page's four-factor score, Prakash Pipes Ltd places first among 1 listed Plastics - Pipes & Fittings companies. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser. ### How many Plastics - Pipes & Fittings stocks are listed in India? This comparison covers 1 listed Plastics - Pipes & Fittings companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026. ### Which Plastics - Pipes & Fittings company is the biggest? Prakash Pipes Ltd is the largest, with trailing-twelve-month revenue of ₹826 crore. That covers 1 of 1 companies with comparable reporting through Jun 2026. ### Which Plastics - Pipes & Fittings company has the best profit margins? Prakash Pipes Ltd has the highest operating margin at 8%, from 1 of 1 comparable companies. Prakash Pipes Ltd shows the biggest recent improvement, at 0 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Plastics - Pipes & Fittings company makes the most profit? Prakash Pipes Ltd earns the most, at ₹48 crore of trailing-twelve-month net profit, from 1 of 1 comparable companies. Prakash Pipes Ltd has the fastest profit growth at -28.4%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Plastics - Pipes & Fittings company earns the highest return on capital? Prakash Pipes Ltd leads on return on capital employed at 12.5%, across 1 of 1 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Which Plastics - Pipes & Fittings stock has the strongest price momentum? Prakash Pipes Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Plastics - Pipes & Fittings company scores highest for research priority? Prakash Pipes Ltd scores 37.5 out of 100 with 69% evidence confidence, from 8.4 points on growth and earnings, 9.8 on capital efficiency, 6.8 on valuation and 12.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Plastics - Pipes & Fittings companies does this comparison cover, and over what period? It compares 1 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Plastics - Pipes & Fittings sector? The 1 Plastics - Pipes & Fittings companies on this page carry ₹656 crore of combined market value. Prakash Pipes Ltd is the largest at ₹656 crore, about 100% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-16. ### How is the Plastics - Pipes & Fittings sector performing? 1 of the 1 covered Plastics - Pipes & Fittings companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-08-16. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.