Hi-Tech Pipes Limited, one of the leading steel pipes companies in India, reported its financial results for the Quarter ended 30^th June, 2024.

The company reported 35 per cent rise in revenue from operations to Rs.866.98 crore in Q1 FY25 as compared to Rs. 642.16 crore in Q1FY24. PAT increase by 125 per cent to Rs. 18.05 crore as compared to Rs. 8.02 crore in Q1FY24 mainly on account of increase in sales realization and contribution of vale added share.

The company reported total sales volumes is of 122,155 tonnes in Q1FY25 as compared to 84,489 tonnes in Q1FY24, an increase of 45% YoY. EBIDTA increased by101 per cent to Rs. 42.69 crore in Q1FY25 as compared to Rs. 21.19 crore in Q1FY24.

Commenting on the performance, Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd. Said: “We are proud to report an exceptional financial performance in this Quarter, with revenue increasing by 35%, EBITDA by 101%, and PAT by 125% Y-o-Y. Sales volumes have surged by 45%, reaching an all-time high of 122,155 tonnes. This remarkable achievement is a resounding testament to our company's unwavering commitment to excellence, innovation, and customer satisfaction.

“The contribution from our recently commissioned Sanand Unit -II Phase 1 plant and our focus on increasing the share of value-added products has yielded this impressive results and will continue to drive growth, profitability, and market share gains. The upcoming brownfield expansion in Sanand Unit II Phase 2 and a greenfield manufacturing facility at Sikandrabad, U.P. will further enhance our production capabilities, enabling us to meet the growing demand for our products and expand our market share.

“We are confident that our strategic initiatives, combined with our team's expertise and dedication, will drive sustainable growth and create long-term value for our stakeholders. The new facilities will not only increase our production capacity but also enable us to improve our quality, reduce costs, and enhance our competitiveness.