Hi-Tech Pipes Limited (HTPL), established in 1985 and headquartered in New Delhi, India, is a prominent manufacturer and supplier of ERW (Electric Resistance Welded) pipes in the Indian piping industry. The company specializes in steel tubes and pipes, catering to a diverse range of sectors including infrastructure, telecommunications, defense, railroads, airports, real estate, and automobiles.
HTPL produces a comprehensive range of steel products, including steel pipes, hollow sections, tubes, cold rolled coils, road crash barriers, solar mounting structures and strips, and various galvanized products. As a leading steel pipe and product manufacturer in India, its offerings include ERW black steel tubes, square and rectangular hollow sections, solar torque tubes, cold-rolled coils and strips, galvanized sheets, color-coated coils, and crash barriers. The company's customized steel pipe solutions serve critical sectors such as construction, automotive, oil and gas, transportation, and more.
Hi-Tech Pipes boasts 6 state-of-the-art manufacturing facilities strategically located across three critical regions in India: Sikandrabad (Uttar Pradesh), Sanand (Gujarat), Hindupur (Andhra Pradesh), and Khopoli (Maharashtra). These facilities currently have a combined production capacity of 5.8 lakh metric tons, offering a complete range of products in steel tubes and pipes, structural steel, flat steel, and highway safety segments.
With an installed capacity of 1 million metric tonnes, the company is positioned among the top 6 pipe manufacturing companies in India. Its products are available across 17 states through a wide network of over 500 dealers, 150 OEM partners, more than 1200 SKUs, and over 90 contractors nationwide.
The company is significantly expanding its manufacturing footprint. A new state-of-the-art facility for large diameter pipes, located in Makhiyav, Gujarat, is in the advanced stage of commissioning, which will increase the total production capacity to nearly 8 lakh metric tons. The recent addition of a new manufacturing facility in Sanand specifically for large diameter and solar torque tubes further expands its capabilities, equipped with the latest technology for manufacturing up to 1.70 lakh tonnes per annum.
Hi-Tech Pipes Ltd has a market capitalization of ₹1,930 crore as of the latest available data. The company has demonstrated strong growth over the years, with its share price increasing by 80.69% on BSE over the last 3 years. The 52-week high share price is ₹210.75 and the 52-week low is ₹81.56, reflecting volatility alongside overall growth.
- FY25 Performance: Consolidated net profit jumped 66.1% to ₹72.95 crore, on a 13.6% increase in revenue from operations to ₹3,067.64 crore compared to FY24.
- Q4 FY25 Results:
- Profit before tax (PBT) increased by 61.9% year-on-year (YoY) to ₹24.08 crore.
- EBITDA stood at ₹34.93 crore, a slight decrease of 1.15% compared to the corresponding quarter last year.
- Sales volume increased 7.7% YoY to 1,16,032 MT, up from 1,07,721 MT in Q4 FY24.
- Q2 FY25 Results: Consolidated net profit rose 71.98% to ₹18.11 crore, despite a 5.38% fall in sales to ₹705.90 crore compared to Q2 FY24.
The company has made significant strides in improving its financial position. India Ratings noted a notable improvement in the consolidated credit profile following a Qualified Institutional Placement (QIP) in October 2024, where the company raised ₹500.79 crore in equity. A majority of these funds have been utilized to prepay long-term debt obligations of HTPL and its subsidiaries, as well as to reduce working capital borrowings, leading to a robust liquidity position.
Hi-Tech Pipes' disciplined financial management has reduced its debt-to-equity ratio to 0.15x and strengthened Return on Capital Employed (ROCE) to 14.35% for FY25, reflecting robust capital efficiency.
Management is optimistic about achieving a 20% volume growth target for the next year, driven by a focus on operational efficiency and an expanded distribution network. The company has provided guidance for reaching 1 million tons capacity by FY26.
Strategic investments in new manufacturing capabilities and value-added products, particularly in the renewable energy sector, position the company to capitalize on India's ongoing infrastructure development. The commitment to sustainability and innovation aligns with evolving market demands, while proactive capacity expansion plans aim to enhance market share, especially in the hollow sections segment.
Hi-Tech Pipes prioritizes research and development (R&D) to transform itself into a research-led piping solutions provider. This research-based approach enables the company to periodically introduce innovative product lines, optimize process time, increase process predictability, and enhance cost efficiency – all critical factors for long-term business sustainability.
The company's commitment to investing in cutting-edge technology helps it stay ahead of the curve and cater to the evolving needs of clients. It prides itself on quality standards and customer service, with a team of experts dedicated to delivering customized solutions that meet specific client requirements.
Hi-Tech Pipes stands as a well-positioned player in India's steel pipes and tubes industry, characterized by strong operational performance, expanding manufacturing capacity, and a clear focus on innovation and sustainability. The company's strategic initiatives and financial discipline position it well for continued growth in the infrastructure-driven Indian market.
