Latest news with #PVC
Shafaq News
a day ago
- Politics
- Shafaq News
Deadly Iraq's Kut fire: Wasit Governor faces dismissal
Shafaq News - Wasit A devastating fire at a hypermarket in Iraq's Kut province claimed the lives of at least 70 people, including men, women, and children, overnight between July 16 and 17. The tragedy has renewed urgent scrutiny over the widespread use of flammable cladding materials in Iraq's commercial buildings, as well as exposed longstanding failures in regulatory oversight and emergency preparedness. In the aftermath of the catastrophe, Iraq's leading political blocs agreed to push for the dismissal of Wasit Governor Ali Hassan Slemon, a political source confirmed to Shafaq News. Leading parties have authorized their lawmakers to back the governor's removal if a parliamentary consensus is reached. Lawmaker Mukhtar al-Mousawi urged the Wasit Provincial Council to act swiftly, stating, 'Members who elected the governor should now vote to dismiss him and refer the decision to parliament for ratification.' He further added, 'It was the Prime Minister's responsibility to remove Slemon after a tragedy that killed and injured dozens of innocent people.' Alongside this political pressure, the Wasit Provincial Council dismissed four senior officials implicated in the incident, including the provincial police chief, civil defense director, head of health inspection, and residency office director. The tragedy also prompted a nationwide crackdown by Iraq's Civil Defense Directorate, which ordered the closure of 1,118 projects across the country within 48 hours for violating fire safety regulations. Hazardous Materials Experts have long warned that flammable construction materials commonly used in Iraq's modern commercial buildings are a critical factor behind the rapid spread of fires and the high number of casualties. Abbas Khalil, a specialist in construction and urban planning, explained to Shafaq News that 'most markets and commercial buildings in Iraq have become heavily reliant on hazardous cladding materials, both on their exterior facades and in interior designs.' These materials are 'highly combustible and cause flames to spread in a matter of minutes.' Among the most widely used is aluminum composite paneling, often referred to as cladding. 'Although it appears safe, it contains plastic cores that ignite easily despite their thin metal coating,' Khalil said. Additionally, foam panels and polyurethane—though intended as insulation—turn into highly flammable fuel when exposed to heat. Polyvinyl chloride (PVC) panels are also commonly used in secondary ceilings, while medium-density fiberboard (MDF) is frequently found in interior walls and furniture. Both materials offer minimal resistance to fire. 'These materials share a common and deadly trait: they accelerate fire spread and release toxic gases that rapidly increase casualties,' Khalil emphasized. He also attributed the ongoing use of these materials not only to their lower cost and ease of installation but also to the lack of effective oversight. 'Developers often choose the cheapest options without regard for the consequences,' he added, stressing that once a fire ignites, containment becomes an immense challenge. Market Realities A building materials vendor in Kirkuk, speaking on condition of anonymity, confirmed that safety concerns are often overlooked in Iraq's construction sector. 'Many owners of commercial and residential buildings favor flammable materials because they are cheaper, faster to install, and enhance aesthetics,' he revealed. 'When we caution them about the risks, their common response is 'Everyone uses them,' as if a disaster must strike before they reconsider.' Construction safety expert Hassan Hadi underscored that the technical solutions to the problem are well established; the primary barrier remains the absence of political and regulatory will. 'We must implement strict bans on importing and using flammable materials in all commercial and residential buildings,' Hadi urged. He also highlighted the need for strengthened supervision of contractors and mandatory installation of modern fire detection and suppression systems in all public buildings. 'New projects should be rigorously inspected, and materials must receive certified approval prior to use.' Hadi further advocated revising legislation to empower authorities, to impose heavy fines or even to close non-compliant projects before disasters occur, emphasizing that raising public awareness is critical to ensure safety.
Time of India
a day ago
- General
- Time of India
On 80th anniv of Flying Officer Sekhon, villagers seek repair of road leading to his village
Ludhiana: It is not a matter of pride that even as the 80th birth anniversary of Flying Officer Nirmal Jit Singh Sekhon was celebrated with great fanfare Thursday, the road named after him, which connects Ludhiana to his native village, lies in a shambles. This surely doesn't befit the celebration to honour his bravery. Residents of his village, Issewal, lamented that they have long been suffering because of the poor condition of the road leading to the birthplace of the great martyr and sought that the govt undertake its repair work at the earliest. Flying Officer Nirmal Jit Singh Sekhon was posthumously awarded the Param Vir Chakra, India's highest military decoration during war time, in recognition of his lone defence of Srinagar Air Base against a Pakistan Air Force air raid during the India-Pakistan war of 1971. He is the only member of the Indian Air Force to be honoured with the PVC. TOI travelled from Ludhiana to Issewal on the road named after him along the Sidhwan canal and found most stretches along its six kilometre length dotted with potholes. It is particularly bad near Birmi village and Issewal. Daljit Singh, cousin of the flying officer, said the issue of the poor condition of the road, which connects to Mullanpur Hambran road, was raised at various levels, but nothing has been done so far. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like NYC Hotel Smartphone Booking | Bookmark Now! | New York City Hotel Booking | Mill Canyon Road Click Here Undo "New colonies are coming up in the area, and so the traffic on the road has increased. The road leads to the native village of the great martyr, so it should be kept in a proper condition and be re-carpeted," Daljit, who retired from the telecom department, said. Another villager, Major Singh, said though the condition of roads in the village has improved, the one connecting Ludhiana to their village is in dire need of repair. He called upon the govt to urgently do something in this regard. Yet another villager said it doesn't look like the road leads to the native village of the only officer of the Indian Air Force who received the country's highest wartime gallantry award. He said the state govt is responsible for the upkeep of the road and should get its repair work done without further delay. Deepinder Singh Chahal (Atley Chahal), a builder whose office lies on the road, said the govt and builders need to work together and get it repaired. It is not just the residents of the area, but also those who have offices along the road who face inconvenience because of it. Meanwhile, senior Congress Leader Captain Sandeep Sandhu, who is the Halqa Dakha constituency incharge of the party, said he has raised the issue multiple times, but to no avail. He added that as the country celebrates the birth anniversary of the great martyr, the road to his native village should have been in a better condition. MLA Dakha Manpreet Singh Ayali said the road was a kuchha road, but during the SAD govt, it was widened under PMGSY. It was named Sardar Nirmal Jit Singh Sekhon Marg. The MLA said they had asked the state govt to repair the road, but they were told that there were no funds. A PWD official said they will soon start the repair work.
India.com
3 days ago
- Entertainment
- India.com
Farhan Akhtar's 120 Bahadur Becomes First Indian Project To Collaborate With Team Behind Hollywood Biggies Like Gladiator, Harry Potter & X-Men
New Delhi: Farhan Akhtar's upcoming war epic 120 Bahadur is all set to transport audiences to the unforgiving terrain of Rezang La — one of the most heroic yet lesser-known chapters of Indian military history. Find out more about the movie here: FAQs What Is the film based on? Actor Farhan Akhtar will be seen as a real-life hero—Maj Shaitan Singh Bhati, PVC. A symbol of courage and sacrifice, Maj Singh's leadership at Rezang La is etched in history. It's a war epic in the making. View this post on Instagram A post shared by Farhan Akhtar (@faroutakhtar) What Is 120 Bahadur Story? The film is based on the legendary Battle of Rezang La during the 1962 India-China War, the film brings alive the extraordinary courage of 120 soldiers from the 13 Kumaon Regiment who stood their ground against an entire Chinese battalion at over 16,000 feet. The teaser of the film will be out in the first week of August. Who are the makers of 120 Bahadur? Directed by Razneesh 'Razy' Ghai and produced by Ritesh Sidhwani, Farhan Akhtar (Excel Entertainment), and Amit Chandrra (Trigger Happy Studios), the film is an Excel Entertainment production. When is it releasing? 120 Bahadur is slated to release in cinemas on November 21, 2025. What does its collab with Snow Business team mean? To recreate the brutal winter backdrop with authenticity, 120 Bahadur becomes the first Indian film to collaborate with Snow Business, the world's leading artificial snow company which has worked with several big Hollywood projects. Known for their work on Gladiator, Harry Potter, X-Men, House of the Dragon, Wonder Woman 1984, and The Witcher, Snow Business now brings their cutting-edge technology and cinematic expertise to India with this landmark project.
Indian Express
5 days ago
- Business
- Indian Express
Stock sinks 50%, profit dives 76%: Can Prince Pipes' Rs 70 Crore Bihar push spark a revival?
In mid-2023, Prince Pipes' stock price touched Rs 740, riding high on hopes of India's booming housing sector, rural water supply push, and its growing brand strength in plumbing solutions. Fast forward twelve months, and the stock now trades near Rs 350, a fall of more than 50%, as the company struggled through one of its most challenging years. In FY25, Prince Pipes reported a 76% decline in profit after tax (PAT), squeezed by sharp volatility in PVC resin prices, unexpected inventory losses, and aggressive dealer incentives that cut deep into margins. Despite a small rise in volumes, revenue dipped, and profitability took a severe knock, shaking investor confidence. But then the company has been expanding capacity, entering new segments like bathware, and doubling down on higher-margin products like CPVC pipes. A major new plant in Bihar, planned capacity scale-up to 60,000 MT, and early traction in its bathware business suggest a longer-term strategy at play. For investors watching these developments, the key question now is not just about past profit decline or stock fall. It is whether the strategic moves can turn Prince Pipes into a stronger, more diversified growth story or if this downturn signals deeper structural headwinds in an intensely competitive market. At its core, Prince Pipes operates in the plastic piping solutions market, serving applications across plumbing, water supply, irrigation, sanitation, and increasingly, interior bathware fittings. The company manufactures and sells pipes and fittings in PVC, CPVC, HDPE, and PPR materials, each with different uses and margin profiles. In FY25, Prince Pipes sold about 1.77 lakh metric tons of products, slightly higher than 1.73 lakh metric tons in FY24, a growth of around 3%. Now, this suggests stable demand despite industry headwinds. However, when you look at numbers, they tell a different story: revenue fell by 2% to Rs 2,524 crore from Rs 2,569 crore last year. Why did the revenue fall? The main reason is lower realisations per ton, meaning the average price at which the company sold each ton dropped. This happened because of: Thus, while Prince Pipes managed to maintain volumes, it came at the cost of lower revenue per ton and weaker margins. PAT also fell sharply by 76% to Rs 43 crore in FY25 from Rs 182 crore in FY24. The EBITDA margin, a key measure of operational profitability, halved to 6% from 12% last year. To understand this, one must look at the gross profit margin, which fell to 25% in FY25 from 29% in FY24. The company booked inventory losses estimated at Rs 90 crore for the year, as high raw material costs previously stocked became unviable to sell at the new lower market prices. These inventory write-downs directly reduced gross profit and, therefore, operating profit. Prince Pipes has a strong focus on PVC pipes, which make up a large part of its sales volume but are generally lower margin compared to CPVC products. In FY25, the company saw double-digit growth in CPVC volumes, which is encouraging because CPVC pipes have higher average realisations and better margins. CPVC is used in hot and cold water plumbing, preferred in residential and commercial buildings for its heat and corrosion resistance. By pushing more CPVC products, Prince aims to improve its margin profile in the long term. Geographic and segment footprint The company has a pan-India presence, supported by eight manufacturing facilities, including its newest plant in Begusarai, Bihar. As of FY25, its network of over 1,500 channel partners helps it reach deep into tier-2 and tier-3 cities, critical markets where modern plumbing and water infrastructure are expanding fast. Besides pipes, Prince is building its bathware business, which contributed Rs 30 crore in FY25 revenue. While still small, this segment can complement the core pipe business by tapping into the same retail and construction channels. According to industry estimates, the domestic pipe industry is projected to grow at around 10-12% CAGR over the next few years. However, this growth is not without challenges. The market has become intensely competitive, with large organised players like Supreme Industries and Astral, as well as a sizeable unorganised segment that competes aggressively on price. This has forced companies like Prince Pipes to balance between protecting margins and maintaining or expanding market share. After a tough FY25, Prince Pipes' management has laid out a cautious but optimistic roadmap. Rather than chasing short-term volume at any cost, the company plans to focus on strengthening its brand, improving product mix, and executing strategic capacity expansions. One of the biggest moves is the expansion at the Begusarai plant in Bihar. The plant started operations in Q4 FY25 with a capacity of 24,000 metric tons. Management aims to scale this up to 60,000 metric tons by the first half of FY26. This facility is strategically important because it will help the company serve east India more effectively, reduce freight costs, and improve service levels in a high-potential market. Besides capacity, management is betting on product diversification, particularly in CPVC pipes and the new bathware segment. CPVC pipes have shown double-digit volume growth even in a difficult year. The bathware business, under the Aquel brand, is still small (Rs 30 crore in FY25 revenue) and loss-making today, but management believes it will reach breakeven in the next four to five quarters. By entering this category, Prince wants to become a one-stop solution provider for builders and households, offering everything from water supply pipes to bathroom fittings. Management also stressed that it will focus on stabilising margins rather than aggressive price cuts. With PVC resin prices bottoming out recently, the company expects a more stable raw material environment in FY26. This should reduce the risk of further inventory losses and help improve gross margins. Management expects double-digit volume growth in FY26, supported by government-led water supply and sanitation programmes, ongoing urban infrastructure expansion, and housing construction recovery. A stable PVC price environment should encourage channel partners to maintain normal inventory levels, unlike the heavy destocking seen last year. Additionally, brand investments such as advertisements and partnerships in high-footfall zones signal Prince Pipes' intention to strengthen consumer recall and trust. The stock has corrected sharply from around Rs 740 in mid-2023 to nearly Rs 350 today. This decline has already priced in much of the near-term pain: inventory losses, margin pressure, and weak short-term growth. At current levels, Prince Pipes trades at an estimated 90 times trailing earnings, which seems high due to the very low FY25 profit base. However, on a forward-looking basis, if the company can deliver its guided double-digit volume growth and gradually recover margins toward its historical average (around 10-12% EBITDA margin), earnings could improve meaningfully over the next two to three years. For example, if Prince Pipes can move closer to Rs 150 crore in PAT over the next two years, the forward price-to-earnings multiple would compress significantly, making the valuation more reasonable. The key is execution: stabilising margins, improving product mix, and successfully ramping up new capacities and bathware business. While the long-term structural demand drivers for pipes and water infrastructure in India remain intact, investors should consider key risks: Raw material price volatility, especially PVC, which could again hurt margins. Intense competition from both large organised players and regional unorganised manufacturers. Execution risk in scaling up new segments like bathware and in achieving breakeven as planned. Economic cycles and government spending trends which can affect construction and housing demand. Overall, Prince Pipes' strategy reflects a long-term focus on becoming a more diversified and resilient company. The expansion into east India, growth in CPVC and bathware, and focus on brand investments all point towards building a stronger business foundation. However, after a year with a 76% drop in profit and continued challenges in demand and margin recovery, this is not a quick turnaround story. Investors considering the stock today must be prepared for near-term volatility and be willing to wait for gradual margin recovery and scale benefits to play out. Note: This article relies on data from annual and industry reports. We have used our assumptions for forecasting. Parth Parikh has over a decade of experience in finance and research and currently heads the growth and content vertical at Finsire. He holds an FRM Charter and an MBA in Finance from Narsee Monjee Institute of Management Studies. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.
Pink Villa
5 days ago
- Entertainment
- Pink Villa
Bollywood Newswrap, July 16: From Salman Khan selling Bandra house to Sidharth-Kiara announcing birth of baby girl
Wondering what happened throughout the day? From Salman Khan selling a Bandra apartment to Sidharth Malhotra and Kiara Advani announcing parenthood, here's a quick recap of all the major highlights of the day. Farhan Akhtar to launch 120 Bahadur teaser in August, will screen with War 2 Farhan Akhtar is all set to launch the teaser of 120 Bahadur in August. The teaser will be attached with the prints of Hrithik Roshan and Jr NTR starrer War 2. For the unversed, Farhan is playing the role of Major Shaitaan Singh Bhati (PVC) in the film. The Razneesh Razy Ghai directorial is based on the Indo-China War of 1962. Sidharth Malhotra and Kiara Advani blessed with a baby girl Sidharth Malhotra and Kiara Advani announced the arrival of a baby girl. On Wednesday Morning, the power couple took to their Instagram handle and shared a cute poster. They accompanied the announcement with a sweet note. "Our hearts are full and our world forever changed. We are blessed with a baby girl. Kiara and Sidharth," their statement reads. The caption featured a folded hands emoji, a pink heart, and an evil eye emoji. Salman Khan sells Bandra West apartment at Rs 5.35 crore Salman Khan sold his lavish Bandra West apartment at a whopping amount of Rs 5.35 crore, as per property registration documents. Located on the 14th floor of Shiv Asthana Heights, the deal also includes a three-car parking space. YRF released a fresh poster of War 2 ft. Hrithik Roshan, Jr NTR, and Kiara Advani Yash Raj Films released a fresh poster of War 2 featuring the lead cast- Hrithik Roshan, Jr NTR, and Kiara Advani. The sleek poster presents Hrithik Roshan holding a sword, Jr NTR giving a deadly look, while Kiara is pointing a gun. The caption of the post reads, 'The biggest showdown of the year loading... (fire emoji) #30DaysToWar2 #War2 only in theatres from 14th August. Releasing in Hindi, Telugu and Tamil. #YRFSpyUniverse.' Stay tuned to Pinkvilla for more updates.
