Hi-Tech Pipes Limited has informed the Exchange about Transcript
HITECH · price
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Hi-Tech Pipes reported its highest-ever quarterly performance in Q3 FY26, with revenue from operations at INR1,070 crores (up 40% year-on-year) and sales volume of 1,36,000 tons (up 10% YoY). However, profit after tax declined 9% YoY to INR17 crores as falling hot-rolled coil prices and cheap imports squeezed margins. The 12% safeguard duty imposed on December 30, 2025, has since stabilized domestic steel prices, and management expects Q4 FY26 to be substantially better. The company has reached 1 million tons of installed capacity with new units at Sanand Phase 2 and Jammu commencing production, and is targeting 2 million tons by FY28-29. Value-added products currently contribute 37% of sales, with a target to reach 50% by FY27. Exports stand at 6,000-7,000 tons for the quarter, with a long-term goal of 10% of total volumes.
Positive near-term outlook as safeguard duty protection and new capacity ramp-up should drive margin recovery and volume growth. The expansion roadmap to 2 million tons by FY28-29 and improved product mix toward higher-margin value-added products support medium-term growth, though execution and rising industry capacity remain key risks to monitor.