133.80 3.85 (2.96%)
NSESep 18, 2020 03:31 PM
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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-08-13||The Hi-Tech Gears Ltd.||Prabhudas Lilladhar||414.00||594.00||414.00 (-67.68%)||Buy|
Hi Tech Pipes (HTP) reported strong Q1FY19 results. Revenues grew 59.3%YoY and 13.9% QoQ to Rs 3,215mn driven by volume growth of 23.5% YoY and 9.1% QoQ (to 60,021 tons), increased sale of value added products and better realisations. Gross margins have witnessed some pressure and were down 20 bps sequentially and 2.1 percentage points YoY to 9.1% mainly due to rising steel prices. However, gross profit in absolute terms increased by Rs 239 per ton YoY. EBITDA grew by 31.6% YoY and 16.5% QoQ to Rs 174m. EBITDA per ton improved 6.6% YoY & 6.8% QoQ to Rs 2,906/ton due to operational efficiencies and increased contribution from the more...