Company Overview

Incorporated in 1973, Swastik Pipe Ltd. is a prominent Indian manufacturer and exporter of ERW Black and Galvanized Pipes, Line Pipes, and Tubes. The company is recognized as one of the leading producers of the T.T Swastik Brand of high-quality Mild Steel/Carbon Steel ERW Black and Galvanized Pipes/Tubes. Swastik Pipe Limited is a growing player in the international market and has been listed on the NSE SME platform since 2022.

The company manufactures and exports TT Swastik brand mild steel/carbon steel, electric resistance welded (ERW) black and galvanized pipes/tubes. Its product range also includes hollow steel pipes, cold rolled steel strips/coils, swaged tubular poles, solar structures, and steel structures. Swastik Pipe has established itself as a reliable supplier to various heavy engineering industries, both domestically and internationally.

Manufacturing Facilities and Capacity

Swastik Pipe Limited operates sophisticated and technically competent plants.

- Unit No. 1: Located at Bahadurgarh, Distt. Jharjjar, Haryana, with an installed capacity of 1,25,000 MT of Pipes and 1,00,000 MT of CR Coils/Strips per annum.

- Unit No. 2: Located at Kotwan, Kosi Kalan, Distt. Mathura, Uttar Pradesh, with an installed capacity of 1,00,000 MT per annum.

The company's corporate headquarters are situated in Delhi. Swastik Pipe maintains stringent quality control measures throughout its operations, from raw material selection to the finished product. All tubes undergo extensive testing, including hydraulic tests, to ensure they are leak-proof. The company is an APIQ1 and ISO 9001:2000 certified manufacturer and exporter, with its advanced, state-of-the-art manufacturing facilities earning it national and international recognition.

Product Portfolio and Applications

The Company is engaged in the production of a diverse range of products including:

- Solar module mounting structures

- Transmission towers

- Steel tubular poles and solar poles

- Special structures for railways

- Scaffolding, formwork, and crash barriers

Its steel pipes and tubes are utilized in various applications such as:

- Frames and shafts

- Bicycle frames

- Furniture

- CDW pipes for shock absorbers

- Various structural and engineering purposes

Swastik Brand produces high-quality Mild Steel/Carbon steel ERW Black and Galvanized pipes/tubes in various shapes and sizes, including square, round, rectangular, triangular, and elliptical or any special shapes. The company also manufactures LINE PIPES as per API Spec. 5L since December 2005.

Financial Performance

The market capitalization of Swastik Pipe Ltd (SWASTIK) was ₹87.70 Cr as of June 6, 2025.

For the year ended March 31, 2024:

- Steel Pipes & Tubes Production: 57,059 MT (Previous Year: 47,755 MT)

- Cold Rolled Strips/Coils/HRPO Sheet Production: 28,955 MT (Previous Year: 30,160 MT)

Key financial metrics for FY 2024:

- Revenue: ₹747 Cr

- Profit: -₹7.22 Cr

- Operating Revenue (TTM): ₹1,832.31 Cr

- P/E Ratio: -12.15

- P/B Ratio: 0.41

Share Capital Structure

As of March 31, 2024:

- Authorized Share Capital: INR 26,25,00,000 (INR 26.25 Crore) comprising 2,62,50,000 Equity Shares of INR 10 each.

- Issued, Subscribed, and Paid-up Equity Share Capital: INR 23,23,14,600 (INR 23.23 Crore).

Promoter Holding:

- As of March 2025, promoter holding stood at 64.51%.

- However, 38.1% of the promoter holding is pledged or encumbered.

Recent Corporate Developments

The company has experienced key management changes in 2025:

- June 24, 2025: Whole Time Director Sandeep Khuda resigned to pursue other opportunities.

- May 28, 2025: Mr. Sunil Gautam was appointed as the Chief Financial Officer (CFO) of the company.

Additionally, the Exchange has sought clarification from Swastik Pipe Limited for the quarter ended March 31, 2025, concerning Regulation 33 of the SEBI (LODR) Regulations, 2015, indicating ongoing regulatory compliance matters.

Market Performance and Challenges

As of recent data:

- 52-Week High: ₹81

- 52-Week Low: ₹35.25

- Market Cap: ₹75.5 Crore (down -54.6% in 1 year), reflecting challenging market conditions.

The company faces several operational challenges:

- Low interest coverage ratio.

- Poor sales growth of 2.73% over the past five years.

- Low return on equity (ROE) of 1.06% over the last 3 years.

Despite these challenges, Swastik Pipe Limited continues to maintain its position as an established player in the steel pipes and tubes manufacturing sector, leveraging its decades of experience and certified manufacturing capabilities to serve diverse industrial applications across India and international markets.