Hi-Tech Pipes Limited (HTPL) Overview

• Products: Structural tubes, CR sheets, galvanized coils, solar structures, and metal crash barriers.
• Industries Served: Infrastructure, real estate, automobile, agriculture, oil & gas, defense, industrial sectors, telecommunications, and housing.

H1 FY25 Performance

• Revenue: +13.31%
• EBITDA: +77%
• PAT: +95.46%
• Sales Volume (MT): +32.59%
• EBITDA/MT: +33.51%

Key Updates

1. Raised ₹5,000M via QIP from Marquee Institutional Investors.
2. Strong demand across sectors driving growth.
3. Largest order in the solar sector; solar projects contribute 10% of revenue, expected to increase.

Management Outlook

• FY25 Target: 500,000 tons; plans to double capacity to 2M tons.
• Market Growth: Steel pipes and tubes market growing 15% annually.

Insider Activity

• Insider bought 1,40,000 shares at ₹164 (Dec).

Financial Metrics

• CMP: ₹158
• Market Cap: ₹3,298 crores
• TTM PE: 67 | Forward PE: 46
• ROCE: 11% | ROE: 8%
• D/E Ratio: 0.38 | Current Ratio: 1.63
• OPM: 5%
• Promoter Holding: 44%
• 3-Year Growth: Sales +29%, Profit +31%.

Shareholding Pattern

• FIIs and DIIs have increased stakes; DIIs up by 7.17% last quarter.