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Hi-Tech Pipes Ltd.

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hitechpipes.inBSE: 543411NSE: HITECH
Market Cap₹ 1,525 Cr.
Current Price
High / Low₹ 128 / 70
Stock P/E24.8
Book Value₹ 62
Price to Book1.76
Dividend Yield0.00 %
ROCE11.3 %
ROE7.7 %
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 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

Metals & MiningIron & SteelSteel & Iron Products
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.JSWSTEEL1309.0012.92320109.920.544696.00112.5847364.0011.5520.6719.60
2.TATASTEEL183.6520.78229258.672.182385.2418.8260794.2915.2612.7015.40
3.SAIL196.0018.9580958.301.201644.05120.8026245.671.257.0815.92
4.WELCORP2646.1530.2369802.960.191047.88200.114081.1214.9123.9432.17
5.JSL737.8018.7260825.680.54768.667.5611278.5410.5019.1912.09
6.APLAPOLLO2151.0048.5959724.320.40263.1110.945606.7112.0731.837.34
7.SHYAMMETL1081.7526.8830195.090.423507.301106.6354550.901133.3513.8814.03
8.JINDALSAW310.7030.4119869.520.6490.79-78.154452.319.0010.388.79
9.RATNAMANI2666.7543.1818691.780.38107.03-15.82971.63-15.6318.0116.69
10.SARDAEN506.9515.8117863.970.39478.139.501608.04-1.0717.7641.59
11.GPIL239.7520.0116140.900.42222.372.751750.4732.2920.2019.36
12.HITECH75.0920.261525.140.0020.04-4.221412.8078.5311.623.49
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
5206035185657236216345726317219021,1891,112
5045824935396885865995415976848681,1481,093
Operating Profit16212526353535303537344120
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%
010-0110010001
Interest57613111175610101313
Depreciation2235445456677
Profit before Tax912168202123222422182120
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 Profit79126151517161817141615
0.500.700.910.460.990.930.940.880.880.820.670.810.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
5045918221,1189671,0261,5121,8612,2072,5503,924
4725557761,0639239751,4381,7822,1192,4143,792
Operating Profit323746544451747988136132
OPM %6.34%6.17%5.57%4.86%4.59%4.99%4.90%4.24%4.00%5.33%3.35%
1321111-5121
Interest1720232324252725323445
Depreciation663457711131825
Profit before Tax1013212916204138458682
Tax %35.51%33.32%31.95%36.29%14.23%25.42%27.00%23.44%24.39%25.81%25.17%
Net Profit69151814153029346461
EPS8.298.5412.8816.2812.9712.502.501.672.263.13—
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:
-17%

RETURN ON EQUITY

10 Years:
12%
5 Years:
11%
3 Years:
9%
Last Year:
8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2025

Sep 19

₹ 0.02

Rs.0.0250 per share(2.5%)Final Dividend

2024

Sep 13

₹ 0.02

Rs.0.0250 per share(2.5%)Final Dividend

2023

Sep 22

₹ 0.02

Rs.0.0250 per share(2.5%)Final Dividend

2022

Sep 20

₹ 0.05

Rs.0.5000 per share(5%)Dividend

2018

Jul 5

—

2017

Sep 18

—

2016

Sep 21

₹ 0.05

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital10101111111112131520
5665871131391582042684521,167
145151185190240212260182271123
Trade Payables37533558554878155119235
3139382518242812711057
Total Liabilities2793173553964634535827449671,602
556796129134145180226290312
Capital Work in Progress731222129283457152
0333333556
102116123120140138181249267310
00000000237234
Cash & Bank131612161817172125179
10311310912514612117321084409
Total Assets2793173553964634535827449671,602

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
34210578791068-71120
Cash from Investing-19-28-34-31-31-27-41-79-125-496
Cash from Financing23-1229-2028-493524196407
5-2-00-0-001031

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
PER SHARE
EPS (₹)6.318.5413.8716.9912.8513.4224.342.262.263.13
Book Value (₹)64.3872.9292.72115.31137.16151.01176.4821.9431.1458.45
Dividend per Share (₹)0.500.250.250.250.250.000.500.030.030.03
Cash EPS (₹)1.191.451.702.091.751.933.023.143.124.02
PROFITABILITY
Operating Margin %5.81%5.88%5.65%4.98%4.72%5.06%4.96%4.35%4.00%5.33%
Net Margin %1.15%1.33%1.73%1.63%1.45%1.46%1.98%1.55%1.54%2.50%
ROE %11.42%12.44%16.88%16.47%10.27%9.42%15.49%11.63%9.07%7.69%
ROCE %14.79%15.16%17.04%16.85%11.47%11.72%15.75%12.33%11.27%11.26%
2.63%2.95%4.33%4.84%3.27%3.28%5.77%4.36%3.96%4.95%
EFFICIENCY
Debtor Days39403428393525273234
Inventory Days55605240494938424341
Payable Days32322217232017252528
61686451656447445047
FINANCIAL HEALTH
Debt to Equity (x)2.14x2.01x1.93x1.53x1.60x1.25x1.20x0.64x0.63x0.11x
Interest Coverage (x)1.59x1.67x1.94x2.24x1.68x1.80x2.52x2.49x2.42x3.54x
1.27x1.19x1.20x1.20x1.22x1.33x1.33x1.53x1.64x2.20x
GROWTH
Revenue Growth %9.93%17.35%38.92%36.04%-13.47%6.14%47.29%23.06%18.64%15.53%
Operating Profit Growth %25.53%18.61%21.77%17.19%-18.07%13.86%44.37%7.77%10.47%53.93%
Net Profit Growth %30.53%35.38%65.55%24.89%-22.80%7.11%98.66%-3.25%17.30%87.69%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%38.51%
VALUATION
P/E (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x61.72x32.82x
P/B (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x4.48x1.76x
Dividend Yield %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.02%
0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x26.43x14.80x

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
53.9550.7643.9743.9743.9743.6443.6443.7643.43
1.819.319.798.961.702.391.410.811.06
11.3510.0517.3216.4016.0814.5115.8716.2716.17
Government0.000.000.000.000.000.000.000.000.00
32.8829.8828.9230.6738.2539.4639.0939.1639.35

Documents

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

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

2026-08-12
Press Release

2026-08-12 - Hi-Tech Pipes Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Press Release on Un-audited Financial Results for the Quarter ended June 30, 2026".

News

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