Iron & Steel Products company Hi-Tech Pipes announced Q1FY26 results Sales: 1.24 lakh tonnes, up from 1.22 lakh tonnes YoY. Company recorded Revenue from Operations of Rs 791.36 crore, as compared to Rs 866.98 crore in Q1FY25. EBITDA at Rs 41.03 crore, supported by product diversification and operational efficiencies. EBITDA per tonne stood at Rs 3,308, showing a clear sequential improvement, underscoring the impact of value-added product contribution and optimized cost structures. Company achieved a Profit After Tax (PAT) of Rs 21.03 crore, the highest-ever quarterly profit in its history, reflecting sound financial discipline and sharp execution. Ajay Kumar Bansal, Chairman & Managing Director, Hi-Tech Pipes, said: “We are pleased with our performance in Q1FY26, particularly with our highest ever quarterly PAT and the sequential improvement in per-tonne profitability. These results reflect our disciplined execution and the growing strength of our business model.” “Our capacity augmentation initiatives are progressing well, and with the imminent commissioning of our Sikandrabad and Sanand units, we are confident of surpassing the 1 million tonne milestone in the near term. This forms a strong launchpad for our broader 2 million tonne installed capacity vision by FY29. As a key part of this growth roadmap, we are also strategically venturing into API-grade pipe manufacturing, which will significantly enhance our presence in high margins, value-accretive sectors such as oil & gas, water transmission, and industrial infrastructure. This initiative is fully integrated into our 2 million tonne capacity expansion strategy.” “As we scale, our continued emphasis on premiumization, value-added product innovation, export market expansion, and brand building will enable us to create sustainable, long-term value for all stakeholders.” Result PDF
Iron & Steel Products company Hi-Tech Pipes announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue has grown by 7.74% to Rs 734 crore, compared to Rs 681 crore. in Q4FY24. driven by robust demand in infrastructure and construction sectors Sales volume has increased by 8%, reaching 1,16,032 MT, up from 1,07,721 MT in Q4FY24. reflecting increased demand. Profitability has risen by 59% to Rs 17.63 crore, compared to Rs 11.12 crore. in Q4FY24. underscoring our focus on cost optimization and value-added products. EBIDTA is at par of Rs 34.93 crore. in Q4FY25 as compared to Rs 35.34 crore in Q4FY24. FY25 Financial Highlights: Revenue has grown by 14% to Rs 3068 crore, against Rs 2,699 crore. in FY24. supported by record sales volumes Sales volume surged by 24%, reaching 4,85,447 MT, compared to 3,91,147 MT in FY24. marking our highest-ever annual performance Profitability rose by 66% to Rs 72.95 crore, up from Rs 43.93 crore. in FY24. driven by operational excellence and improved margins EBIDTA increased by 39.33% to Rs 160.03 crore. in FY25 as compared to Rs 114.86 crore in FY24 EBIDTA/ton is increased by 12.26% at Rs 3297 in FY25 vs. Rs 2937 in FY24, on account of better sales realization and increase in share of value added products. Commenting on the performance, Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes said, "FY25 marks a defining year for Hi-Tech Pipes, with 14% revenue growth and a 66% surge in profitability, driven by operational excellence and strategic capacity expansion. Our disciplined financial management reduced debt-to-equity to 0.15x and strengthened ROCE to 14.35%, reflecting robust capital efficiency. With the commissioning of our Sikandrabad greenfield plant and Sanand Phase II, positions us to meet rising demand in infrastructure and renewables. We are proud to contribute to nation-building through projects like the Kavach Anti-Collision System and BSF's border fencing. With an upgraded A+ credit rating, we are poised to achieve our next target of 2 million MT capacity vision by FY29." Anish Bansal, Whole Time Director, Hi-Tech Pipes, said, "Hi-Tech Pipes' global leadership in solar torque tubes, manufactured at our Sanand unit 2, has been pivotal in driving FY25's success. These high end specialized tubes for solar tracking systems position us at the forefront of renewable energy infrastructure, with surging demand across North America, Europe, and the Middle East. Our advanced-stage Sikandrabad greenfield plant, set to commission shortly, will amplify ERW pipe production for various new sectors , while the Sanand Unit-2, Phase-II will enhance high-margin offerings for Infrastructure sector as well as energy sector. Coupled with a 24% sales volume surge and 12.26% EBITDA/Ton growth, these strategic expansions reinforce our commitment to innovation and sustainable energy transitions. We are poised to leverage these facilities to meet global infrastructure needs and deliver long-term stakeholder value." Result PDF
Conference Call with Hi-Tech Pipes Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Hi-Tech Pipes announced Q3FY25 results Total sales volumes increased by 26% to 1.24 lakh tonnes as compared to 0.98 lakh tonnes in Q3FY24, led by increased demand for steel tubes/structural steel products. Revenue from operations increased by 20.78% to Rs 761.02 crore as compared to Rs 630.09 crore in Q3FY24. PAT increased by 33.65% to Rs 19.15 crore as compared to Rs 14.33 crore in Q3FY24. EBITDA increased by 27.42% to Rs 40.23 crore as compared to Rs 31.57 crore in Q3FY24. EBITDA/ton at Rs 3,238/MT in Q3FY25 vs. Rs 3,205/MT in Q3FY24 is at par. During this Quarter, Company has spent approximately Rs 242/MT towards Distribution, Branding and Marketing expenses. Ajay Kumar Bansal, Chairman & Managing Director, Hi-Tech Pipes, said: We are pleased to report another strong quarter, reflecting our commitment to growth, operational efficiency and financial prudence. Our 21% revenuw growth and 34% rise in PAT underscore our market leadership and execution excellence. The in boadring of Hrithik Roshan as our brand ambassador, along with strategic branding iinitiatives, further enhamces our brand visibility. Our A+ credit rating upgrade and disciplined find utilization highlight our financial sterngth. With infrastructure growth in India and supportive government policies, we are well-positioned for future expansion. Hi-Tech Pipes remains committed to innovation, sustainability and vakue creation for all stakeholders. Result PDF
Iron & Steel Products company Hi-Tech Pipes announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Total sales volumes increased by 22.50% to 1.23 lakh tonnes as compared to 1.00 lakh tonnes in Q2FY24; led by increased demand for steel tubes/structural steel products and value-added Products. Revenue from operations declined by 5.3% to Rs 705.89 crore as compared to Rs 746.00 crore in Q2FY24; on account steep decrease in raw material prices. PAT increased by 72% to Rs 18.11 crore as compared to Rs 10.54 crore in Q2FY24. EBITDA increased by 57.66% to Rs 42.19 crore as compared to Rs 26.75 crore in Q2FY24. EBITDA/ton at Rs 3,429 in Q2FY25 vs Rs 2,665 in Q2FY24; Increased by 28.66% YoY; on account of focus on Value-added products & efficient cost management activities. H1FY25 Financial Highlights: Revenue from operations was up 13.31% to Rs 1,572.88 Crores as compared to Rs 1,288.17 crore in 161 FY24; led by higher sales volume. PAT increased by 95% to Rs 36.16 crore as compared to Rs 18.49 crore in H1FY24. Total sales volumes increased by 32.55% to 2.45 lakh tonnes as compared to 1.85 lakh tonnes in H1FY24; led by better demand for steel tubes and structural steel products. EBITDA increased by 77.00% to Rs 84.87 crore as compared to Rs 47.95 crore in H1FY24. EBITDA/ton increased by 33.51% to Rs 3,462 in H1FY25 vs. Rs 2,593 in H1FY24. Net Working Capital Days has declined from 63 days in FY24 to 60 days in H1FY25. Debt Equity Ratio has improved from 0.70x in FY24 to 0.49x in H1FY25. The current Ratio has improved from 1.534x in FY24 to 1.63x in H1FY25. Return on Capital Employed has improved 10.00% in FY24 to 14.53 in H1FY25. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes, said: “ We are pleased to report that Hi-Tech Pipes continues to demonstrate robust operational performance. In Q2FY25, our total sales volumes increased by 22.50%, reaching 1.23 lakh tonnes, driven by strong demand for steel tubes, structural steel products, and value-added products. Despite this, revenue from operations saw a 5.3% decline due to the steep reduction in raw material prices. However, our focus on value-added products and efficient cost management resulted in a significant 57.66% growth in EBITDA, with EBITDA per tonne rising by 28.66% YoY. For H1FY25, revenue increased by 13.31% to Rs 1572.88 crore, supported by a 32.55% growth in total sales volumes. Our EBITDA surged by 77.00%, and the EBITDA per tonne improved by 33.51%, showcasing our operational efficiencies. Financially, we have strengthened our position with a reduction in Net Working Capital Days, improvement in the Debt-Equity Ratio, and better returns with ROCE increasing to 14.53% Furthermore, the successful closure of our Rs 5,001 million QIP, backed by strong interest from institutional investors, is a testament to the confidence in our growth strategy. We are committed to maintaining this momentum and delivering sustained value to all our stakeholders". Result PDF
Iron & Steel Products company Hi-Tech Pipes announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations Declined by 3% to Rs 681.03 crore as compared to Rs 701.86 crore in Q4FY23. PAT Declined by 29.60% to Rs 11.20 crore as compared to Rs 15.91 crore in Q4FY23 on account of steep decrease in steel prices in Q4FY24. Total sales volumes is of 1,07,721 tonnes in Q4FY24 as compared to 1,07,232 tonnes in Q4FY23. EBIDTA increased by 4.71% to Rs 35.34 crore in Q4FY24 as compared to Rs 33.75 crore in Q4FY23. EBIDTA/ton at Rs 3,280 in FY24 vs Rs 3,147 in FY23, increased by 4.21% YoY. FY24 Financial Highlights: Revenue from operations increased by 13% to Rs 2,699.29 crore as compared to Rs 2,385.85 crore in FY23. PAT increased by 16.50% to Rs 44.03 crore as compared to Rs 37.79 crore in FY23. Total sales volumes increased by 10% to 3,91,147 tonnes as compared to 3,54,032 tonnes in FY23. EBIDTA increased by 11.29% to Rs 114.86 crore in FY24 as compared to Rs 103.21 crore in FY23. EBIDTA/ton at Rs 2,937 in FY24 vs. Rs 2,915 in FY23, increased by +0.75% YoY. Commenting on the performance, Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Said, “ In spite of challenging environment due to steep reduction of steel prices, during the quarter the company has achieved ever highest volume of 1.07 lacs mt and yearly volume of 3.91 lacs ton. This further establishes the leadership & branding position of the company. The company is moving towards achievement of vision of One Million Ton bit by bit. Now the installed capacity of the company has increased from 5,80,000 mt to 7,50,000 mt by commencement of commercial production of its green field project at Sanand ( Unit — II) with installed capacity of 1,70,000 mt with size range from 15 nb to 400 nb. Further construction activities at Sikanderabad ( Unit — Ill ) with installed capacity of 150,000 mt is in full swing and will be commenced within this financial year. In order to increase capacity utilisation the company is further strengthening its sales & marketing team and undertaking many branding activities including wall painting, retailers board, social media, retailer & fabricators meetings etc. Next financial year 2024-25 has started with a positive sign as steel prices has stabilizes now and further price gap between prime material & secondary material has reduced significantly. It is further expected that after election results boost will come in the infrastructure spending by Government of India which will lead to further spurt in steel pipe demand." Result PDF
Conference Call with Hi-Tech Pipes Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Hi-Tech Pipes announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24 Highlights Revenue: Increased by 10.7% to Rs 630.09 crore (YoY) PAT (Profit After Tax): Increased by 10.10% to Rs 14.33 crore (YoY) Sales Volume: Increased by 8% to 98,512 tonnes (YoY) EBITDA: Increased by 12.5% to Rs 31.57 crore (YoY) EBITDA/Ton: Rs 3,205, up by 4.5% (YoY) and 20.35% (QoQ) Consolidated 9MFY24 Highlights Revenue: Up by 20% to Rs 2,018.27 crore (YoY) PAT: Surged by 50% to Rs 32.81 crore (YoY) Sales Volume: Rose by 14.25% to 2,83,426 tonnes (YoY) EBITDA: Grew by 14.49% to Rs 79.52 crore (YoY) Commenting on the performance, Ajay Kumar Bansal, Chairman and Managing Director, HiTech Pipes said, “The Government of India has taken the vision for Vikshit Bharat on the 100th Anniversary of its Independence. This is a very ambitious vision and it opens up a lot of opportunities for every industry, particularly the Infrastructure and Construction sector. The National Infrastructure Pipeline (NIP) for FY19-25 is a first-of-its-kind, whole-of-government exercise to provide world-class infrastructure to citizens and improve their quality of life. Under this policy, an investment of Rs 1.11 Lacs Crore is expected for the development of world-class infrastructure. Steel consumption is also expected to increase from 120 million tons to 250 million tons by 2030. Your company also took this challenge as an opportunity and it is certain to achieve the vision of One Million Ton Installed Capacity by 2025 and an additional one million MT in the foreseeable future. The focus of the company to increase the proportion of its value-added products is also yielding positive results and it has increased from 26% in FY23 to 31% in Q3FY24 ( 29% in 9MFY24 ). We have the vision to increase it to more than 50% by FY26." Result PDF
Iron & Steel Products company Hi-Tech Pipes announced Q4FY23 & FY23 results: Consolidated Q4FY23: Revenue from operations up by 18% to Rs 701.85 crore Sales volumes increased by 26% to 1.07 lakh tonnes EBITDA grew by 13% to Rs 33.75 crore EBITDA/ton at Rs 3,147 in Q4FY23 vs. Rs 3,511 in Q4FY22; decreased 10% YoY PAT increased by 42% to Rs 15.91 crore from Rs 11.22 crore in Q4FY22 Consolidated FY23: Revenue from operations up by 27% to Rs 2385.85 crore Sales volumes increased by 28% to 3.54 lakh tonnes EBITDA grew by 3% to Rs 103.21 crore EBITDA/ton at Rs 2.915 in FY23 vs. Rs 3.634 in FY22; decreased 19.78% YoY PAT decreased by 6% to Rs 37.79 crore from Rs 40.33 crore in Q4FY22 Debt Equity Ratio has improved significantly to 0.66x from 1.42x Debt Service Coverage Ratio has improved to 1.33x from 1.56x Current Ratio has improved to 1.46x from 1.43x Debtor turnover days reduced to 28 days from 33 days Inventory turnover days have reduced to 47 days from 50 days Net Working Capital Days substantially reduced to 48 days from 68 days Commenting on the performance, Ajay Kumar Bansal, Chairman, and Managing Director, Hi-Tech Pipes said, “I feel so elated to share that, during this Quarter the Company has registered ever highest Sales Volume, Revenue, PAT, and EBIDTA. Net working Capital days of the company have reduced substantially to 48 days. Our New Product “HitechColorStar” for premium Color Coated Coils has been well appreciated and accepted, we are confident of emerging as a strong brand across the country in this segment. Our greenfield facility of Large Dia. Pipes at Makhiyav, Sanand Gujarat is about to commission, we are expecting to start Commercial production from Q3FY24 onwards. This facility along with our color coating line will not only help us to increase the volumes but also to improve the margins and strengthen the company's reach into different territories. Going forward we will continue to look at opportunities to expand in the high demand and profitable geographies of the country as well as increase share of value added products in our portfolio.” Result PDF
Conference Call with Hi-Tech Pipes Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.