Hi-Tech Pipes Ltd Share Price – NSE  / BSE

Steel, Small Cap

“These significant contracts reflect the growing demand for sustainable energy solutions and underscore our commitment to supporting this vital industry,” the company stated.

The orders will be executed from Hi-Tech Pipes’ new manufacturing facility located in Sanand Unit II Phase I, over the next three months. This new facility is poised to deliver high-quality steel pipes that meet the standards of the renewable energy sector.

Ajay Kumar Bansal, chairman, Hi-Tech Pipes, said: “We are thrilled to be chosen as a preferred supplier of ERW Steel pipes for such a pivotal sector.

Our Sanand unit represents a major investment in both our capabilities and our commitment to sustainability. These contracts not only demonstrate the confidence our clients place in us but also highlight our role in advancing renewable energy infrastructure.”

Hi-Tech Pipes is in the business of manufacturing of ERW steel round & section pipes, cold rolled strips & engineering products and distribution of the same.

The company's consolidated net profit jumped 62.17% to Rs 18.05 crore on 27.3% rise in revenue from operations to Rs 866.98 crore in Q1 FY25 over Q1 FY24.

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Hi-Tech Pipes has received order for supplying ERW Steel Pipes, totaling of Rs.105 (Inclusive of GST) crores from key customers in the renewable energy sector. These significant contracts reflect the growing demand for sustainable energy solutions and underscore our commitment to supporting this vital industry.

The orders will be executed from our new state-of-the-art manufacturing facility located in Sanand Unit II Phase I, over the next three months. This new facility, equipped with cutting-edge technology and efficient production processes, is poised to deliver high-quality steel pipes that meet the rigorous standards of the renewable energy sector, said the company.

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The company may issue of equity shares or any other equity linked instruments or securities, including convertible preference shares/ fully or partly convertible debentures or by way of a composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares.

The firm may also issue any other eligible securities through, a private placement or through one or more qualified institutions placements (QIP's) or further public issue or a rights issue or through any other permissible mode under applicable laws and/ or combination thereof.

Hi-Tech Pipes is in the business of manufacturing of ERW steel round & section pipes, cold rolled strips & engineering products and distribution of the same.

The company's consolidated net profit jumped 62.17% to Rs 18.05 crore on 27.3% rise in revenue from operations to Rs 866.98 crore in Q1 FY25 over Q1 FY24.

The scrip rose 2.01% to end at Rs 182.95 on Monday, 19 August 2024.

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Hi-Tech Pipes will hold a meeting of the Board of Directors of the Company on 19 August 2024.

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