New Delhi, June 22 -- PVC pipe makers are expected to see stronger profitability this fiscal as resin prices remain elevated, with EBITDA per tonne likely to rise to Rs 23,000 from Rs 21,200 last fiscal, Crisil Ratings said in a press release Monday.

Crisil Ratings expects volatility in global resin prices, escalation of the West Asia conflict and demand recovery across end-user segments to bear watching. While prices may normalise closer to pre-war levels in the coming months with the ceasefire announcement, average prices will remain higher compared to pre-conflict levels.

The ratings agency noted that the capacity additions will also stay limited owing to expected moderation in sales volume, even as capacity utilisation holds steady ...