HITECH

Hi-Tech Pipes share price & financials

Price
₹92.6
Market cap
₹1.6k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 13 Aug 2026

Hi-Tech Pipes Limited Q1 FY27

Revenue ₹1,413 cr +79%EBITDA ₹49.37 cr +20%Profit After Tax ₹20 cr −4%

What went well

  • Revenue grew 79% YoY to ₹1,413 crores in Q1 FY27, driven by robust demand.
  • Sales volume increased 26% YoY to 156,136 metric tons, supported by expanded manufacturing capacities.
  • EBITDA grew 20% YoY to ₹49.37 crores, with EBITDA per ton marginally improving to ₹3,162.

What to watch

  • Profit after tax declined slightly to ₹20 crores in Q1 FY27 from ₹20.92 crores in Q1 FY26.
  • EBITDA per ton was impacted by elevated gas prices, higher logistic costs, and ocean freights.
Read the full call →

What Hi-Tech Pipes Limited does

Hi-Tech Pipes Limited, founded in 1985, is one of India's leading manufacturers of steel tubes and pipes, serving infrastructure, construction, solar and industrial customers. It earns revenue by converting steel coils into ERW black steel tubes, square/rectangular hollow sections, solar torque tubes, GP/GI pipes, CR coils and colour-coated coils, sold through a nationwide dealer, distributor, OEM and contract-customer network. The company operates manufacturing facilities in Uttar Pradesh, Gujarat, Andhra Pradesh and Maharashtra, and is expanding its value-added product mix (e.g., solar tubes, hollow sections).

Segments

  • MS Pipes & Hollow Sections
  • GP & GI Pipes
  • GPGC Sheet & Colour-Coated Coil
  • CR Coils & Strips
Manufacturing plants
6 facilities across 4 states (Uttar Pradesh, Gujarat, Andhra Pradesh, Maharashtra)
Installed manufacturing capacity
7,50,000 MTPA (750,000 tonnes/year) across all units
Market position
Among the largest producers of steel tubes and pipes in India
Registered brands
12+
Product SKUs
1,200+
Geographic reach
Products available across 19+ states in India
Founded 1985Headquarters 505, Pearls Omaxe Tower, Netaji Subhash Place, Pitampura, New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 23 tracked 2 delivered 5 missed 16 open
  • Sales Volume delivered, diluted said Q4 FY25 Promised: Upwards of 600,000 tons Q1 FY27: Promise concluded in a prior period.
  • Sales Volume missed said Q3 FY25 Promised: 5 lakh tons for FY25 Q1 FY27: Promise concluded in a prior period.
  • Sales Volume revised up said Q4 FY26 Promised: Around 8.5 lakh tons for FY28 Q1 FY27: Revised target upwards: 'For FY28, we are targeting 1 million tons of sales volume.'

All 23 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 76.2%, net profit down 16.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue621 634 572 631 721 +16%902 +42%1,189 +108%1,112 +76%
EBITDA35 35 30 35 37 +6%34 −3%41 +37%39 +11%
Net profit15 17 16 18 17 +13%14 −18%16 +0%15 −17%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −15.8% 1Y

₹80₹100₹120Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 6 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹90.68 on 10 Sept 2025 → ₹76.39. High ₹122.59 (22 Sept 2025), low ₹70.93 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+1.8%
13 Aug
Q4 FY26
−8.9%
28 May
Q3 FY26
+4.8%
7 Feb
Q2 FY26
+0.6%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 15.5% a year over 3 years, FY23 to FY26. Operating margin held at 4.3%.

Year endingFY23FY24FY25FY26
Revenue₹2.2k Cr₹2.2k Cr₹2.5k Cr₹3.4k Cr
Operating profit₹98 Cr₹88 Cr₹135 Cr₹147 Cr
Operating margin4.4%4.0%5.3%4.3%
Interest₹34 Cr₹31 Cr₹34 Cr₹39 Cr
Depreciation₹13 Cr₹12 Cr₹17 Cr₹24 Cr
Net profit₹35 Cr₹34 Cr₹63 Cr₹65 Cr
Net margin1.6%1.5%2.5%1.9%
Cash from operations₹56 Cr₹-71 Cr₹120 Cr₹87 Cr
Free cash flow₹-7 Cr₹-171 Cr₹-14 Cr₹-32 Cr
ROCE14.0%11.0%11.0%9.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹11 Cr₹12 Cr₹13 Cr₹15 Cr₹20 Cr₹20 Cr
Reserves₹162 Cr₹204 Cr₹355 Cr₹501 Cr₹1.3k Cr₹1.2k Cr
Borrowings₹212 Cr₹259 Cr₹180 Cr₹294 Cr₹272 Cr₹141 Cr
Other liabilities₹68 Cr₹105 Cr₹192 Cr₹152 Cr₹337 Cr₹399 Cr
Total liabilities₹453 Cr₹581 Cr₹740 Cr₹961 Cr₹1.9k Cr₹1.8k Cr
Fixed assets₹145 Cr₹180 Cr₹226 Cr₹290 Cr₹394 Cr₹504 Cr
Capital work in progress₹29 Cr₹28 Cr₹34 Cr₹57 Cr₹252 Cr₹78 Cr
Investments₹3 Cr₹3 Cr₹5 Cr₹5 Cr₹9 Cr₹3 Cr
Other assets₹275 Cr₹370 Cr₹475 Cr₹609 Cr₹1.3k Cr₹1.2k Cr
Total assets₹453 Cr₹581 Cr₹740 Cr₹961 Cr₹1.9k Cr₹1.8k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.05 pp while FIIs trimmed −0.64 pp. The shareholder count shrank 8% to 99,593.

Promoters
43.4%
FIIs
1.1%
DIIs
16.2%
Public
39.1%
Others
0.2%

Since Jun 2025

  • Public +1.05 pp
  • FIIs −0.64 pp
  • Promoters −0.54 pp

How it drifted, 12 quarters

Over this window promoters fell from 55.3% to 43.4% — −11.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 55.3%, FIIs 0.3%, DIIs 4.8%, Public 39.6%.Dec '23: Promoters 55.6%, FIIs 0.1%, DIIs 7.5%, Public 36.8%.Mar '24: Promoters 53.2%, FIIs 0.4%, DIIs 11.4%, Public 35.0%.Jun '24: Promoters 54.0%, FIIs 1.8%, DIIs 11.3%, Public 32.9%.Sep '24: Promoters 50.8%, FIIs 9.3%, DIIs 10.1%, Public 29.9%.Dec '24: Promoters 44.0%, FIIs 9.8%, DIIs 17.3%, Public 28.8%, Others 0.1%.Mar '25: Promoters 44.0%, FIIs 9.0%, DIIs 16.4%, Public 30.5%, Others 0.1%.Jun '25: Promoters 44.0%, FIIs 1.7%, DIIs 16.1%, Public 38.1%, Others 0.1%.Sep '25: Promoters 43.6%, FIIs 2.4%, DIIs 14.5%, Public 39.3%, Others 0.2%.Dec '25: Promoters 43.6%, FIIs 1.4%, DIIs 15.9%, Public 38.9%, Others 0.2%.Mar '26: Promoters 43.8%, FIIs 0.8%, DIIs 16.3%, Public 39.0%, Others 0.2%.Jun '26: Promoters 43.4%, FIIs 1.1%, DIIs 16.2%, Public 39.1%, Others 0.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Hi-Tech Pipes Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Ajay Kumar Bansal 10.57%unchanged
Bandhan Small Cap Fund Mutual fund9.33%+0.37 pp
Anish Bansal 7.71%unchanged
Vipul Bansal 6.53%unchanged
Aks Buildcon Private Limited 4.19%unchanged
Hi-Tech Agrovision Private Limited 4.02%unchanged
Parveen Bansal 3.65%unchanged
HSBC Mutual Fund - HSBC Small Cap Fund Mutual fund2.47%−0.09 pp
Penang Enterprises Private Limited 1.51%unchanged
Shweta Bansal 1.36%unchanged
The Wealth Company Alternates Trust-Bharat Value Fund AIF1.33%newly disclosed
SBI General Insurance Company Limited Insurer1.24%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹76, this stock must grow earnings at 16% every year for 7 years. Our analysis caps realistic growth at ~23%. At that growth it is worth ₹108 — upside of 42%.

Growth the price implies
16.1% a year
for 7 years, fading to 4%
It has actually compounded at
22.9% a year
net profit, FY23–FY26
The gap
-0.1 pp
42% downside if it only repeats history
Price today ₹76.39 Value at the reference growth ₹108.43

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Hi-Tech Pipes Limited

Guides on how to read this kind of business and the numbers that matter.