Hi-Tech Pipes Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Hi-Tech Pipes announced the achievement of a record-breaking sales volume for the concluding quarter and the fiscal year ended 31 March, 2024. This milestone represents the highest sales figures ever recorded in the company's history, marking a momentous occasion for the organization and stakeholders.

In the face of declining HRC Prices, Hi-tech has successfully managed to navigate through this and boost its market share in domestic steel pipes industry. The company's strategic initiatives focused on operational excellence, customer-centric approaches, and increase in share of value added products have resulted in an increase in yearly sales volumes of 3,91,147 MT in FY24 from 3,54,032 MT in corresponding previous year.

Powered by Capital Market - Live News

Hi-Tech Pipes announced the commencement of commercial production at Sanand Unit-ll Phase-1 (Gujarat) Capacity:1,70,000 MT. This facility represents a significant milestone in our commitment to delivering high-quality steel products to meet the evolving needs of our customers worldwide.

Powered by Capital Market - Live News

Hi-Tech Pipes announced the commissioning and trial production of greenfield project at Sanand Unit II, (Phase 1), Gujarat.

The company also announced two new greenfield projects at Sikandrabad (U.P.) unit-III and Sanand Unit-II (Phase 2) adding 150,000 tonnes (by Q3FY25) and 1,10,000 tonnes (by Q4FY25) respectively. This will catapult the company's total capacity to 1 million tonnes by end of FY25.

Powered by Capital Market - Live News

Net profit of Hi-Tech Pipes rose 10.06% to Rs 14.33 crore in the quarter ended December 2023 as against Rs 13.02 crore during the previous quarter ended December 2022. Sales rose 10.68% to Rs 630.10 crore in the quarter ended December 2023 as against Rs 569.29 crore during the previous quarter ended December 2022.

Powered by Capital Market - Live News