Hi-Tech Pipes Limited has informed the Exchange regarding Appointment of Ms M/s BAS & Co. LLP, Chartered Accountants as Internal Auditors of the company w.e.f. May 28, 2026.
HITECH · price
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Hi-Tech Pipes Limited reported strong FY26 consolidated revenue of Rs 420 crore, up 37% from Rs 307 crore in FY25. However, profit after tax grew only 4.4% to Rs 7.62 crore as margins compressed due to higher raw material and finance costs. The company issued 90 lakh fully convertible equity warrants to promoter group entities (Vipul Bansal, AKS Buildcon, and Hi-Tech Agrovision) at Rs 100 per warrant, raising potential Rs 90 crore. The Board also appointed M/s BAS & Co. LLP as internal auditors and M/s S. Shekhar & Co. as cost auditors for FY27. Statutory auditors A.N. Garg & Company issued an unmodified opinion on both standalone and consolidated results. The company acquired Sain Software Systems Private Limited in March 2026, now a wholly-owned subsidiary.
Revenue growth of 37% demonstrates strong business momentum, but compressed margins and modest PAT growth may limit immediate stock appreciation. The Rs 90 crore warrants issuance to promoters signals their confidence but will dilute equity upon conversion.