PRINCEPIPE Q1 FY27 Guidance vs Delivery (PRINCEPIPE Management Mirror)

EBITDA Margin Reported at 12.7% in Jun'26 Qtr; FY27 Guidance Reaffirmed at 11-13% Amid 12-15% Volume Growth Target

Current management position reaffirms FY27 expectations. In the Dec'25 Qtr concall, management guided FY27 volume growth at a conservative baseline of 8% to 10% and sustainable EBITDA margins at 10% to 12% (excluding bathware losses and inventory adjustments). During the Mar'26 Qtr concall, FY27 volume growth guidance was updated to 12% to 15%, alongside an initiated FY27 EBITDA margin target of 11% to 13%. In the Jun'26 Qtr concall, full-year volume growth guidance was reaffirmed at 12% to 15%, and medium-term operating EBITDA margin guidance was reaffirmed at 11% to 13%. For the Jun'26 Qtr, management reported a 7% YoY volume de-growth to 40,729 metric tons. The Jun'26 Qtr EBITDA margin was reported at 12.7% in the Quarterly Financial Results, while the Jun'26 Qtr concall cited 13.0%, with revenue reported at INR 6,094 Million in the Financial Results.