Hi-Tech Pipes Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,390 Cr
- P/E
- 18.47
- ROE
- 5.88%
- PEG
- 0.87
- Price to sales
- 0.29
- Debt to equity
- 0.20
- 52W high / low
- ₹115 / ₹62.9
- Sales growth (5Y)
- 25.66%
- EBITDA margin
- 3.77%
- Net profit margin
- 1.81%
- Promoter holding
- 43.43%
- Sales (last year)
- ₹4,822 Cr
Hi-Tech Pipes business of manufacturing of ERW Steel Round & Section Pipes, cold Rolled Strips & Engineering Products and distribution of the same across india.
Guidance scorecard · Q1 FY27 call
What Hi-Tech Pipes Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ1 FY27 call
20–40%Ask what Hi-Tech Pipes Ltd said on revenue →
Full Q1 FY27 analysisMarginsQ1 FY27 call
Up 2%+See what Hi-Tech Pipes Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Total capex planned at INR 650 crores for expansion to 2 million tons capacity.
- Around INR 200 crores capex planned for FY27, remaining spread over FY28 and FY29.
- Expansion projects underway at UP, Andhra Pradesh, and Gujarat facilities.
- Direct Forming Technology (DFT) facility at Sanand Unit-II Phase-3 expected operational by Q3 FY27.
- API pipes facility targeted for readiness by Q4 FY27 to enter specialized oil & gas segments.
- Hindupur, Andhra Pradesh integrated manufacturing facility (ERW tubes, solar tubes, value-added products) expected operational by Q4 FY27.
- New capacity addition of 0.5 million tons construction to start by end of FY27.
2 more points from Hi-Tech Pipes Ltd's call on capex
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FundraisingQ1 FY27 call
See what Hi-Tech Pipes Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The company has experienced strong demand with a 26% volume growth in Q1 FY27.
- Expansion projects across multiple facilities (UP, Andhra Pradesh, Gujarat) are progressing rapidly.
- New capacities and product lines (DFT, API pipes, coated steel, solar torque tubes) are coming online by FY27 Q3–Q4.
- The company is confident of reaching 2 million tons capacity by FY29.
- Growing export markets (Europe, America, Canada, Australia) are expected to form 10% of revenue in the future.
- Strong demand outlook from infrastructure, construction, solar, oil and gas sectors supports robust order flow.
2 more points from Hi-Tech Pipes Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Hi-Tech Pipes Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Hi-Tech Pipes Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 553 | 520 | 603 | 518 | 565 | 723 | 621 | 634 | 572 | 631 | 721 | 902 | 1,189 |
| Expenses + | 525 | 504 | 582 | 493 | 539 | 688 | 586 | 599 | 541 | 597 | 684 | 868 | 1,148 |
| Operating Profit | 28 | 16 | 21 | 25 | 26 | 35 | 35 | 35 | 30 | 35 | 37 | 34 | 41 |
| OPM % | 5% | 3% | 4% | 5% | 5% | 5% | 6% | 5% | 5% | 5% | 5% | 4% | 3% |
| Other Income + | 0 | 0 | 1 | 0 | -0 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
| Interest | 6 | 5 | 7 | 6 | 13 | 11 | 11 | 7 | 5 | 6 | 10 | 10 | 13 |
| Depreciation | 5 | 2 | 2 | 3 | 5 | 4 | 4 | 5 | 4 | 5 | 6 | 6 | 7 |
| Profit before tax | 17 | 9 | 12 | 16 | 8 | 20 | 21 | 23 | 22 | 24 | 22 | 18 | 21 |
| Tax % | 21% | 25% | 25% | 24% | 22% | 25% | 26% | 27% | 26% | 25% | 25% | 25% | 25% |
| Net Profit + | 14 | 7 | 9 | 12 | 6 | 15 | 15 | 17 | 16 | 18 | 17 | 14 | 16 |
| EPS in Rs | 1.07 | 0.50 | 0.70 | 0.88 | 0.41 | 0.97 | 0.87 | 0.82 | 0.80 | 0.88 | 0.81 | 0.68 | 0.79 |
Financials of Hi-Tech Pipes Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 458 | 504 | 591 | 822 | 1,118 | 967 | 1,026 | 1,512 | 1,861 | 2,207 | 2,550 | 3,443 |
| Expenses + | 433 | 472 | 555 | 776 | 1,063 | 923 | 975 | 1,438 | 1,782 | 2,119 | 2,414 | 3,296 |
| Operating Profit | 25 | 32 | 36 | 46 | 54 | 44 | 51 | 74 | 79 | 88 | 136 | 146 |
| OPM % | 6% | 6% | 6% | 6% | 5% | 5% | 5% | 5% | 4% | 4% | 5% | 4% |
| Other Income + | 1 | 1 | 3 | 2 | 1 | 1 | 1 | 1 | -5 | 1 | 2 | 2 |
| Interest | 15 | 17 | 20 | 23 | 23 | 24 | 25 | 27 | 25 | 32 | 34 | 39 |
| Depreciation | 4 | 6 | 6 | 3 | 4 | 5 | 7 | 7 | 11 | 13 | 18 | 24 |
| Profit before tax | 8 | 10 | 13 | 21 | 29 | 16 | 20 | 41 | 38 | 45 | 86 | 86 |
| Tax % | 34% | 35% | 33% | 32% | 36% | 14% | 25% | 27% | 23% | 24% | 26% | 25% |
| Net Profit + | 5 | 6 | 9 | 15 | 18 | 14 | 15 | 30 | 29 | 34 | 64 | 64 |
| EPS in Rs | 1.31 | 0.63 | 0.85 | 1.41 | 1.70 | 1.28 | 1.34 | 2.43 | 2.26 | 2.26 | 3.13 | 3.16 |
| Dividend Payout % | 8% | 8% | 3% | 2% | 1% | 2% | 0% | 2% | 1% | 1% | 1% | 0% |
Financials of Hi-Tech Pipes Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 10 | 10 | 10 | 11 | 11 | 11 | 12 | 13 | 15 | 20 | 20 |
| Reserves | 44 | 56 | 65 | 95 | 119 | 139 | 162 | 204 | 355 | 501 | 1,167 | 1,231 |
| Borrowings + | 111 | 142 | 151 | 188 | 189 | 239 | 212 | 259 | 180 | 294 | 127 | 141 |
| Other Liabilities + | 57 | 71 | 92 | 62 | 77 | 73 | 68 | 105 | 192 | 152 | 276 | 399 |
| Total Liabilities | 215 | 279 | 317 | 355 | 396 | 463 | 453 | 581 | 740 | 961 | 1,590 | 1,791 |
| Fixed Assets + | 43 | 55 | 67 | 96 | 129 | 134 | 145 | 180 | 226 | 290 | 312 | 504 |
| CWIP | 8 | 7 | 3 | 12 | 2 | 21 | 29 | 28 | 34 | 57 | 152 | 78 |
| Investments | 0 | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 6 | 3 |
| Other Assets + | 164 | 218 | 245 | 245 | 261 | 304 | 275 | 370 | 475 | 609 | 1,120 | 1,206 |
| Total Assets | 215 | 279 | 317 | 355 | 396 | 463 | 453 | 581 | 740 | 961 | 1,590 | 1,791 |
Financials of Hi-Tech Pipes Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 26 | 1 | 39 | 5 | 52 | 3 | 76 | 7 | 56 | -71 | 120 | |
| Cash from Investing Activity + | -19 | -19 | -28 | -34 | -31 | -31 | -27 | -41 | -79 | -125 | -496 | |
| Cash from Financing Activity + | -7 | 23 | -12 | 29 | -20 | 28 | -49 | 35 | 24 | 196 | 407 | |
| Net Cash Flow | 1 | 5 | -2 | -0 | 0 | -0 | -0 | 0 | 1 | 0 | 31 | |
| Free Cash Flow | 7 | -18 | 25 | -36 | 27 | -26 | 48 | -34 | -7 | -171 | -14 | |
| CFO/OP | 111% | 8% | 115% | 22% | 104% | 17% | 154% | 13% | 86% | -70% | 99% |
Financials of Hi-Tech Pipes Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 49 | 48 | 35 | 31 | 43 | 30 | 30 | 29 | 39 | 34 | 33 |
| Inventory Days | 62 | 85 | 81 | 61 | 43 | 58 | 54 | 48 | 54 | 48 | 49 | 54 |
| Days Payable | 36 | 31 | 37 | 17 | 21 | 23 | 19 | 21 | 33 | 22 | 37 | 41 |
| Cash Conversion Cycle | 68 | 102 | 92 | 78 | 53 | 78 | 65 | 58 | 49 | 66 | 45 | 46 |
| Working Capital Days | 11 | 23 | 13 | 12 | 8 | 14 | 17 | 17 | 27 | 32 | 40 | 38 |
| ROCE % | 14% | 15% | 15% | 17% | 17% | 11% | 12% | 16% | 14% | 11% | 11% | 9% |
Guidance history
How Hi-Tech Pipes Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 2%+ | Planned | — | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
7 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −40.2% | 12% |
| Last 6 months | −25.7% | 12% |
| Last 3 months | −19.1% | 24% |
The price is 66.7% below its all-time high of ₹205.24 (20 Sept 2024). Stocks more than 20% below their peak have their score halved, so 15 became 7.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Hi-Tech Pipes Ltd: 0.4 × 12 + 0.4 × 12 + 0.2 × 24 = 15, halved to 7 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Hi-Tech Pipes Ltd's management said in earlier quarters
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