Hi-Tech Pipes Ltd.

•

hitechpipes.inBSE: 543411NSE: HITECH

Market Cap₹ 1,574 Cr.

Current Price

High / Low₹ 128 / 70

Stock P/E20.9

Book Value₹ 67

Price to Book1.66

Dividend Yield0.00 %

ROCE11.6 %

ROE8.2 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has delivered good profit growth of 29.0% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 20.5% CAGR over last 5 years
Company maintains a comfortable, low leverage position
Attractively priced for its growth - PEG of 1.0

CONS

Promoter holding has decreased over last 2 years: -10.5pp
Working capital days have increased from 34 to 72 days
Equity base is being diluted - shares outstanding up 65.5%
Though reporting repeated profits, the company pays out little dividend (0.7%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1308.00	12.91	319865.38	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	185.95	21.04	232129.86	2.15	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	184.00	17.79	76001.67	1.28	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2775.65	31.71	73219.05	0.18	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	762.35	19.35	62849.63	0.52	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2198.00	49.66	61029.32	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1086.30	27.00	30322.09	0.41	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	317.60	31.08	20310.78	0.63	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.00	45.47	19681.83	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	537.05	16.75	18924.64	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	252.40	21.07	16992.55	0.40	222.37	2.75	1750.47	32.29	20.20	19.36
12.	HITECH	77.51	20.91	1574.29	0.00	20.04	-4.22	1412.80	78.53	11.62	3.49

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	642	746	630	681	867	706	761	734	791	859	1,070	1,480	1,413
	621	719	599	646	824	664	721	699	750	814	1,028	1,434	1,387
Operating Profit	21	27	32	35	43	42	40	35	41	44	42	46	26
OPM %	3.30%	3.59%	5.01%	5.19%	4.92%	5.98%	5.29%	4.76%	5.18%	5.16%	3.92%	3.13%	1.83%
	0	1	0	-0	1	1	0	0	1	1	0	0	1
Interest	8	10	9	14	14	14	9	7	8	12	12	16	16
Depreciation	3	3	4	6	5	5	6	4	6	7	7	8	8
Profit before Tax	11	14	19	15	24	24	26	24	28	27	23	23	26
Tax %	25.67%	25.00%	24.59%	25.15%	24.79%	25.50%	25.17%	26.79%	25.21%	25.16%	25.08%	24.20%	24.32%
Net Profit	0	0	0	0	18	18	19	18	21	20	17	18	20
	0.61	0.81	1.09	0.84	1.16	1.10	1.08	0.95	1.04	1.01	0.84	0.89	0.99

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	504	637	1,016	1,360	1,210	1,341	1,879	2,386	2,699	3,068	4,822
	472	598	956	1,286	1,150	1,270	1,778	2,283	2,584	2,908	4,663
Operating Profit	32	40	60	75	59	71	101	103	115	160	158
OPM %	6.34%	6.26%	5.92%	5.50%	4.89%	5.28%	5.35%	4.33%	4.26%	5.22%	3.29%
	1	2	1	1	1	1	1	-4	1	2	2
Interest	17	20	27	30	30	32	36	35	42	43	55
Depreciation	6	7	4	5	7	8	10	14	15	21	29
Profit before Tax	10	15	30	41	24	31	55	50	59	98	100
Tax %	35.51%	30.29%	30.03%	33.27%	14.58%	26.42%	27.11%	24.46%	25.14%	25.55%	24.70%
Net Profit	6	10	21	27	20	23	40	38	44	73	75
EPS	8.29	10.08	18.59	24.72	18.85	18.96	3.38	2.18	2.94	3.59	—
Dividend Payout %	7.93%	2.48%	1.25%	0.97%	1.34%	0.00%	1.52%	0.85%	0.85%	0.70%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 20%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 29%
3 Years:: 22%

STOCK PRICE CAGR

10 Years:: 20%
5 Years:: 6%
3 Years:: 0%
1 Year:: -19%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 12%
3 Years:: 10%
Last Year:: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	11	11	11	11	12	13	15	20
	56	67	95	130	163	190	246	318	513	1,237
	145	179	249	273	313	318	394	276	368	183
Trade Payables	37	58	45	59	56	49	80	174	157	250
	31	46	49	32	25	32	38	141	132	80
Total Liabilities	279	360	449	505	568	599	771	922	1,185	1,770
	55	81	124	169	173	203	239	287	355	392
Capital Work in Progress	7	8	17	4	29	30	29	36	62	194
	0	0	0	0	0	0	0	2	3	4
	102	124	154	151	179	188	259	307	347	384
	0	0	0	0	0	0	0	0	280	303
Cash & Bank	13	16	13	16	19	17	17	21	26	183
	103	130	140	165	168	162	226	268	112	311
Total Assets	279	360	449	505	568	599	771	922	1,185	1,770

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	27	0	55	32	69	-13	149	-95	70
Cash from Investing	-19	-39	-53	-40	-39	-40	-46	-98	-153	-390
Cash from Financing	23	14	59	-9	14	-25	64	-35	249	354
	5	-1	-0	-0	-0	-0	0	1	0	33

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	53.95	50.76	43.97	43.97	43.97	43.64	43.64	43.76	43.43
	1.81	9.31	9.79	8.96	1.70	2.39	1.41	0.81	1.06
	11.35	10.05	17.32	16.40	16.08	14.51	15.87	16.27	16.17
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	32.88	29.88	28.92	30.67	38.25	39.46	39.09	39.16	39.35

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Hi-Tech Pipes Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Shareholders meeting

2026-09-03 - Hi-Tech Pipes Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Hi-Tech Pipes Limited has informed the Exchange about Predispatch Newsapaper Publication of AGM of the Company

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Hi-Tech Pipes Limited has informed the Exchange about Transcript

2026-08-14

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-14 - Hi-Tech Pipes Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-14

Monitoring Agency Report

2026-08-14 - Monitoring Agency Report w.r.t. the utilization of Qualified institutional placement ( QIP ) proceeds for the Quarter ended June 30, 2026

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Hi-Tech Pipes Limited has informed the Exchange about Link of Recording

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Hi-Tech Pipes Limited has informed the Exchange about Copy of Newspaper Publication w.r.t. Un-audited Financial Results for the Quarter ended June 30, 2026

2026-08-12

Investor Presentation

2026-08-12 - Hi-Tech Pipes Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for HITECH

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