The company has reduced its share count over this period, returning value to shareholders through buybacks.
Diluted shares outstanding: 24.8M (2022) → 23.9M (2026)
Prakash Pipes Limited, an Indian enterprise established in New Delhi in 1981, specializes in the manufacturing and distribution of polyvinyl chloride (PVC) piping systems and a variety of packaging materials. The company's comprehensive portfolio includes unplasticized PVC (uPVC) pipes designed for various uses such as casing, plumbing, column support, and managing soil, waste, and rainwater, alongside a full range of uPVC fittings. Beyond pipes, Prakash Pipes also produces flexible packaging products, specifically barrier films and laminates. Their PVC offerings are instrumental in key sectors like agriculture (for irrigation), urban planning (drainage and housing), and public welfare (sanitation). The flexible packaging segment serves a wide array of industries, including fast-moving consumer goods (FMCG), food and beverages, oils, personal care, infrastructure, and pharmaceuticals. All of Prakash Pipes Limited's products are sold under the recognized 'Prakash' brand.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+22.9% YoY
YoY Growth Rate
Steady revenue growth
+59.4% YoY
YoY Growth Rate
EPS growth accelerating
₹0/ year
0.0% of revenue
Below sector average (3%)
Research and development spending
Cash flow positive
₹0 cash & investments
Company generates more cash than it spends — no dilution risk from fundraising
Prakash Pipes Limited is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.
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Earnings per share down more than 10%. Either a bad year, or a real decline.
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Free cash flow is negative. They are burning cash, not generating it.
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Interest coverage above 8. Profits cover interest many times over.
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P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.
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Modest yield. The bulk of any return needs to come from price appreciation.
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