Hi-Tech Pipes Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
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.
PROS
- Company has delivered good profit growth of 35.3% CAGR over last 5 years
- Company has delivered good sales growth of 21.4% CAGR over last 5 years
- Company maintains a comfortable, low leverage position
- Attractively priced for its growth - PEG of 0.9
- Company converts assets efficiently - asset turnover of 2.0x
CONS
- Promoter holding has decreased over last 2 years: -10.5pp
- Recent results are weak - TTM profit is down 11.7% versus prior year
- Company has a low return on equity of 9.5% over last 3 years
- Company has a low return on capital employed of 11.6%
- Equity base is being diluted - shares outstanding up 65.5%
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1267.50 | 12.51 | 309961.29 | 0.56 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 182.85 | 20.69 | 228259.99 | 2.19 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 179.00 | 17.31 | 73936.40 | 1.31 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2676.25 | 30.57 | 70596.97 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 755.20 | 19.16 | 62260.17 | 0.53 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2153.00 | 48.64 | 59779.85 | 0.39 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1074.35 | 26.70 | 29988.53 | 0.42 | 3507.30 | 1106.63 | 54550.90 | 1133.35 | 13.88 | 14.03 |
| JINDALSAW | 311.85 | 30.52 | 19943.06 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2808.15 | 45.47 | 19682.88 | 0.36 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 524.75 | 16.37 | 18491.21 | 0.38 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 244.50 | 20.41 | 16460.69 | 0.41 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| HITECH | 76.37 | 20.60 | 1551.13 | 0.00 | 20.04 | -4.22 | 1412.80 | 78.53 | 11.62 | 3.49 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 520 | 603 | 518 | 565 | 723 | 621 | 634 | 572 | 631 | 721 | 902 | 1,189 | 1,112 | |
| 504 | 582 | 493 | 539 | 688 | 586 | 599 | 541 | 597 | 684 | 868 | 1,148 | 1,093 | |
| Operating Profit | 16 | 21 | 25 | 26 | 35 | 35 | 35 | 30 | 35 | 37 | 34 | 41 | 20 |
| OPM % | 3.07% | 3.53% | 4.81% | 4.61% | 4.90% | 5.70% | 5.46% | 5.32% | 5.49% | 5.14% | 3.74% | 3.45% | 1.77% |
| 0 | 1 | 0 | -0 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | |
| Interest | 5 | 7 | 6 | 13 | 11 | 11 | 7 | 5 | 6 | 10 | 10 | 13 | 13 |
| Depreciation | 2 | 2 | 3 | 5 | 4 | 4 | 5 | 4 | 5 | 6 | 6 | 7 | 7 |
| Profit before Tax | 9 | 12 | 16 | 8 | 20 | 21 | 23 | 22 | 24 | 22 | 18 | 21 | 20 |
| Tax % | 25.23% | 25.20% | 24.40% | 22.11% | 24.74% | 25.59% | 26.90% | 25.94% | 25.15% | 25.18% | 25.19% | 25.15% | 25.17% |
| Net Profit | 7 | 9 | 12 | 6 | 15 | 15 | 17 | 16 | 18 | 17 | 14 | 16 | 15 |
| 0.50 | 0.70 | 0.91 | 0.46 | 0.99 | 0.93 | 0.94 | 0.88 | 0.88 | 0.82 | 0.67 | 0.81 | 0.75 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 504 | 591 | 822 | 1,118 | 967 | 1,026 | 1,512 | 1,861 | 2,207 | 2,550 | 3,924 | |
| 472 | 555 | 776 | 1,063 | 923 | 975 | 1,438 | 1,782 | 2,119 | 2,414 | 3,792 | |
| Operating Profit | 32 | 37 | 46 | 54 | 44 | 51 | 74 | 79 | 88 | 136 | 132 |
| OPM % | 6.34% | 6.17% | 5.57% | 4.86% | 4.59% | 4.99% | 4.90% | 4.24% | 4.00% | 5.33% | 3.35% |
| 1 | 3 | 2 | 1 | 1 | 1 | 1 | -5 | 1 | 2 | 1 | |
| Interest | 17 | 20 | 23 | 23 | 24 | 25 | 27 | 25 | 32 | 34 | 45 |
| Depreciation | 6 | 6 | 3 | 4 | 5 | 7 | 7 | 11 | 13 | 18 | 25 |
| Profit before Tax | 10 | 13 | 21 | 29 | 16 | 20 | 41 | 38 | 45 | 86 | 82 |
| Tax % | 35.51% | 33.32% | 31.95% | 36.29% | 14.23% | 25.42% | 27.00% | 23.44% | 24.39% | 25.81% | 25.17% |
| Net Profit | 6 | 9 | 15 | 18 | 14 | 15 | 30 | 29 | 34 | 64 | 61 |
| EPS | 8.29 | 8.54 | 12.88 | 16.28 | 12.97 | 12.50 | 2.50 | 1.67 | 2.26 | 3.13 | — |
| Dividend Payout % | 7.93% | 2.93% | 1.80% | 1.47% | 1.95% | 0.00% | 2.05% | 1.11% | 1.11% | 0.80% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 19%
- 5 Years:
- 21%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 29%
- 5 Years:
- 35%
- 3 Years:
- 29%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 6%
- 3 Years:
- 0%
- 1 Year:
- -19%
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 11%
- 3 Years:
- 9%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 65 | 87 | 113 | 139 | 158 | 204 | 268 | 452 | 1,167 | |
| 145 | 151 | 185 | 190 | 240 | 212 | 260 | 182 | 271 | 123 | |
| Trade Payables | 37 | 53 | 35 | 58 | 55 | 48 | 78 | 155 | 119 | 235 |
| 31 | 39 | 38 | 25 | 18 | 24 | 28 | 127 | 110 | 57 | |
| Total Liabilities | 279 | 317 | 355 | 396 | 463 | 453 | 582 | 744 | 967 | 1,602 |
| 55 | 67 | 96 | 129 | 134 | 145 | 180 | 226 | 290 | 312 | |
| Capital Work in Progress | 7 | 3 | 12 | 2 | 21 | 29 | 28 | 34 | 57 | 152 |
| 0 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 6 | |
| 102 | 116 | 123 | 120 | 140 | 138 | 181 | 249 | 267 | 310 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 237 | 234 | |
| Cash & Bank | 13 | 16 | 12 | 16 | 18 | 17 | 17 | 21 | 25 | 179 |
| 103 | 113 | 109 | 125 | 146 | 121 | 173 | 210 | 84 | 409 | |
| Total Assets | 279 | 317 | 355 | 396 | 463 | 453 | 582 | 744 | 967 | 1,602 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 42 | 10 | 57 | 8 | 79 | 10 | 68 | -71 | 120 | |
| Cash from Investing | -19 | -28 | -34 | -31 | -31 | -27 | -41 | -79 | -125 | -496 |
| Cash from Financing | 23 | -12 | 29 | -20 | 28 | -49 | 35 | 24 | 196 | 407 |
| 5 | -2 | -0 | 0 | -0 | -0 | 0 | 1 | 0 | 31 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Hi-Tech Pipes Limited has informed the Exchange about Copy of Newspaper Publication
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 - Hi-Tech Pipes Limited has informed the Exchange about Predispatch Newsapaper Publication of AGM of the Company
2026-08-17 - Hi-Tech Pipes Limited has informed the Exchange about Transcript
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 w.r.t. the utilization of Qualified institutional placement ( QIP ) proceeds for the Quarter ended June 30, 2026
2026-08-13 - Hi-Tech Pipes Limited has informed the Exchange about Link of Recording
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 - Hi-Tech Pipes Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for HITECH
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