Hi-Tech Pipes records net revenue of Rs 380.4 crore in Q4 FY19
New Delhi : HI-Tech Pipes Limited (NSE: HITECH) has announced its Audited consolidated financial results for the Fourth Quarter and Year ended March 31, 2019.
Incorporated in 1985, Hi-Tech Pipes is amongst the leading steel processing Companies in India providing world class innovative products for nearly three decades with presence in steel pipes, hollow section tubes, cold rolled coils & strips, road crash barriers, solar mounting structures and a variety of other galvanized products.
The Company's Net volume in Q4 FY 19 is 80055 metric tonne as against 55282 mt in Q4 FY18. A Year on Year growth of 45% over the corresponding quarter, driven by an increase in capacity utilization. Net Revenue from operations is Rs. 380.4 crore in Q4 FY19, as against Rs. 282.3 crore in Q4 FY18, a YoY growth of 35%, mainly on account of increase in steel prices, better product mix and higher volumes.
Commenting on the Company's performance for Q4 & FY19, Mr Ajay Kumar Bansal, Chairman and Managing Director, HI-Tech Pipes Ltd. said, "We endeavour to create Hitech Pipes as the most preferred brand by customers. The essence of our paradigm shift is already being reflected in our constant growth and we are constantly striving to leave the footprints of our legacy for the upcoming generations to follow."
Company’s EBIDTA margin Per Metric Ton is continuously increasing for the last three years and in the current financial year, EBIDTA margin PMT has increased to Rs. 2789 as against EBIDTA margin PMT of Rs. RS.2661/- in the previous financial year.
"With company’s continuous thrust on sales & marketing of High Value Added products viz Pre Galvanised Pipes, Galvanised Pipes, Productivity improvement, cost reduction etc, it is expected that in FY 20 also, EBIDTA margin PMT will further increase," Mr Bansal added further.
The company is delighted to be facilitated by SAIL, by receiving Top Performer Award for being one among the largest customer for Hot Rolled Coils on PAN India basis in the Financial year 2018-19 & we will continue our journey of success by adopting the latest technology, doing continuous product innovation and having a customer-centric approach.
With increased focus on the part of the government for creation of large scale infrastructure in the country viz Mission Jal Shakti – Nal Se Jal, City Gas Distribution, Water Grids, Affordable Housings, Renewable Energies, Transmission and Telecom, Aviation and Agriculture etc demand for steel pipes tube will increase with a CAGR of more than 11% over next 5 years.
Mr Bansal asserted, "We firmly believe that innovation will continue to be our key differentiator. We would also continue to work towards our vision of achieving an installed capacity of 10,00,000 MT (One Million Ton). As is evident, the business today is about how we are building ourselves for the future. For instance, the Company recently came out with a number of new product lines which have found increased acceptability across different segments owing to its increased usability. Innovations like these help Hi-Tech Pipes stay one step ahead of the competition. In view of these realities, I foresee attractive prospects across the medium-term as well as long-term as we continue to recalibrate to make Hi-Tech Pipes ready for an ‘Exciting Future’.”
About HI-Tech Pipes Limited:
Amongst leading steel processing companies in India providing world class innovative products for nearly three decades with presence in steel pipes, hollow sections, tubes, cold rolled coils & strips, road crash barriers, solar mounting structures and a variety of other galvanised products having state of the art integrated manufacturing facilities at Sikandrabad (Uttar Pradesh), Sanand (Gujarat) and at Hindupur near Bangalore with total installed capacity of 5,00,000 MTPA on consolidated basis including capacity expansion project at Sikanderabad (Uttar Pradesh) for Cold Rolling which is under trial running. The Company has a direct marketing presence in over 17 states with more than 300 plus distributors across India.