Hi-Tech Pipes Ltd Share Price – NSE /  BSE

Steel, Small Cap

Net profit of Hi-Tech Pipes rose 33.64% to Rs 19.15 crore in the quarter ended December 2024 as against Rs 14.33 crore during the previous quarter ended December 2023. Sales rose 20.78% to Rs 761.02 crore in the quarter ended December 2024 as against Rs 630.10 crore during the previous quarter ended December 2023.

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Hi-Tech Pipes will hold a meeting of the Board of Directors of the Company on 12 February 2025.

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For the nine months ended FY25, sales volumes added up to 3,69,415 MT, representing an increase of 30.33% on YoY basis.

Ajay Kumar Bansal, chairman, Hi-Tech Pipes, said: “We are happy with the strong sales momentum witnessed in Q3 and the first nine months of FY25.

While the contribution of our solar torque tubes has been instrumental in achieving these milestones, our growth across other sectors, such as infrastructure and construction, also highlights the breadth and adaptability of our offerings.”

Hi-Tech Pipes manufactures steel tubes and pipes, galvanised and corrugated sheets, cold-rolled products, and colour-coated sheets. It has an installed capacity of a total of 7,40,000 MT across its manufacturing plants.

The company's consolidated net profit rose 71.98% to Rs 18.11 crore despite a 5.38% fall in sales to Rs 705.90 crore in Q2 FY25 over Q2 FY24.

The scrip rose 0.38% to currently trade at Rs 158.75 on the BSE.

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The agency has also upgraded the company’s short-term rating to 'IND A1+’ from ‘IND A1’.

In its rating rationale, India Ratings said that the upgrade reflects a notable improvement in the consolidated credit profile, following a qualified institutional placement (QIP) in October 2024.

The company raised Rs 500.79 crore in equity, with an aim to strengthen its financial position and operational capabilities. A majority of these funds have been used to prepay long-term debt obligations of HTPL and its subsidiaries, as well as to reduce working capital borrowings, resulting in a robust liquidity position. The remaining proceeds are designated for capex purpose.

Operationally, HTPL demonstrated healthy volume growth, supported by healthy offtake from its Sanand unit-II (phase-I).

The upgrade also factors in a likely improvement in HTPL’s business profile over the medium term, driven by sustained demand for its existing products, consistent offtake from the recently completed capex and likely volume growth following the completion of ongoing projects.

India Ratings expects the profitability to improve over the medium term, aided by a growing share of value-added products, economies of scale, and cost-efficiency measures; although, remain range bound.

The ratings are further bolstered by company’s diversified product portfolio and low customer concentration risk. However, the ratings are constrained by HTPL’s susceptibility to raw material price volatility and intense market competition.

Hi-Tech Pipes manufactures steel tubes and pipes, galvanised and corrugated sheets, cold-rolled products, and colour-coated sheets. It has an installed capacity of a total of 7,40,000 MT across its manufacturing plants.

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