Prakash Pipes is one of the stocks in Dolly Khanna’s portfolio with strong fundamentals. The Company has negligible debt. In the fourth quarter ended March 31, 2022, it reported a standalone net profit of Rs 13.19 crore for the against a net profit of Rs 10.17 crore in the year-ago period. This is an increase of 29.70 per cent. The sales in the January-March period of 2021-22 rose to Rs 174.76 crore against Rs 134.64 crore in the same period of 2020-21.
Dolly Khanna holds 5.72 lakh shares (2.39 per cent) in Prakash Pipes as of 31st March 2022. She bought 1.35 per cent in the October- December quarter.
The sell-off in the market has not spared Prakash Pipes either. The stock has lost 21 per cent from its 52-week high. The stock quoted at the yearly high of Rs 209 on 28th April 2022. The CMP is about Rs 165.
If one is convinced about the long-term fundamentals of Prakash Pipes, then the sell-off offers a good opportunity to add the stock to the portfolio.