loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

Plastic piping sector expected to post strong Q4FY26 performance

ICICIdirect Research 17 Apr 2026 DISCLAIMER

Plastic piping sector is expected to post robust Q4FY26 performance led by double digit volume, higher realisations and EBITDA margin expansion. Our coverage universe is expected to show 16% YoY (+29% QoQ) volume growth led by dealer re-stocking.

Rise in PVC prices by ~21% QoQ (~9% YoY) led by revocation of export rebate by China w.e.f. April 1, 2026 and supply disruptions caused by Iran war. Consequently, strong volume growth along with higher realisations is expected to drive 22% YoY (+38% QoQ) growth in revenues.

Further, operating leverage and inventory gains is likely to lead to over 200 bps YoY (400+ bps QoQ) expansion in EBITDA margins. Overall, our coverage universe is expected to see net profit growth of 34% YoY (+141% QoQ) led by strong revenue growth and EBITDA margin expansion. However, post Q4FY26, PVC prices have corrected by ~5% in April compared to March 2026 exit prices due to easing uncertainties in Iran war followed by decline in crude prices and removal of customs duty on PVC till June 30, 2026. Yet, average PVC prices during April 2026 are higher by ~20% compared to Q4FY26 average.

Stocks Preferred – Supreme Industries

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere