Hi-Tech Pipes Ltd. (IN:HITECH)
:HITECH
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Hi-Tech Pipes Ltd.
(HITECH)
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Rating:59Neutral
Price Target:
₹91.00
▼(-4.20% Downside)
Action:Reiterated
Date:05/30/26
The score is primarily held back by weak and inconsistent cash generation despite strong revenue growth and improved leverage. Technicals are mixed with improving momentum but a still-weak longer-term trend, and valuation looks only moderately attractive given the P/E, partially supported by the dividend yield.
Positive Factors
Strong revenue growth
Sustained, accelerating top‑line expansion signals growing demand for Hi‑Tech's welded and value‑added steel products. Durable revenue momentum supports better capacity utilization, scale benefits, and provides a firmer base to fund targeted investments and product development over the medium term.
Negative Factors
Weak and volatile operating cash flow
Inconsistent cash conversion from operations—with OCF swings and negative turns—means earnings are not reliably translating into internally available funds. Over 2–6 months this constrains capex funding, increases reliance on external financing, and raises liquidity and execution risk during growth phases.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained, accelerating top‑line expansion signals growing demand for Hi‑Tech's welded and value‑added steel products. Durable revenue momentum supports better capacity utilization, scale benefits, and provides a firmer base to fund targeted investments and product development over the medium term.
Read all positive factors
Hi-Tech Pipes Ltd. (HITECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.14B
Dividend Yield0.03%
Average Volume (3M)333.05K
Price to Earnings (P/E)23.3
Beta (1Y)1.67
Revenue Growth36.92%
EPS Growth-9.90%
CountryIN
Employees525
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)4.12
Shares Outstanding203,107,730
10 Day Avg. Volume115,504
30 Day Avg. Volume333,048
Financial Highlights & Ratios
PEG Ratio-3.57
Price to Book (P/B)1.07
Price to Sales (P/S)0.34
P/FCF Ratio-6.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.1
Revenue Forecast (FY)₹45.17B
Hi-Tech Pipes Ltd. Business Overview & Revenue Model
Company Description
Hi-Tech Pipes Limited, headquartered in New Delhi, India, operates as a leading manufacturer and supplier of a comprehensive array of steel-based products. The company primarily serves a diverse range of critical sectors across India, including in...
How the Company Makes Money
HITECH primarily makes money by manufacturing and selling steel tubes, pipes, and related steel building products to distributors, fabricators, and end-use customers. Revenue is largely driven by (1) sales of welded steel tubes/pipes and hollow se...
Hi-Tech Pipes Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.45B | 42.00B | 30.68B | 26.99B | 23.86B | 18.77B |
| Gross Profit | 2.71B | 2.44B | 2.30B | 2.37B | 2.12B | 1.30B |
| EBITDA | 1.63B | 1.46B | 1.62B | 1.13B | 989.57M | 977.34M |
| Net Income | 779.61M | 761.61M | 729.49M | 439.31M | 376.81M | 403.26M |
Balance Sheet | ||||||
| Total Assets | 19.08B | 20.24B | 17.56B | 11.79B | 9.16B | 7.69B |
| Cash, Cash Equivalents and Short-Term Investments | 1.57B | 869.96M | 1.83B | 23.33M | 18.89M | 9.03M |
| Total Debt | 2.72B | 2.68B | 1.79B | 4.02B | 2.73B | 3.93B |
| Total Liabilities | 6.09B | 6.90B | 4.98B | 6.02B | 4.97B | 5.11B |
| Stockholders Equity | 12.99B | 13.33B | 12.57B | 5.76B | 4.18B | 2.59B |
Cash Flow | ||||||
| Free Cash Flow | -870.52M | -2.14B | -1.61B | -2.04B | 644.02M | -477.37M |
| Operating Cash Flow | -144.49M | -436.06M | 284.23M | -951.90M | 1.34B | -10.64M |
| Investing Cash Flow | -255.25M | -412.54M | -3.92B | -1.17B | -1.01B | -460.88M |
| Financing Cash Flow | 612.77M | 707.03M | 3.97B | 2.13B | 53.82M | 640.33M |
Hi-Tech Pipes Ltd. Technical Analysis
Positive
94.99
Price Trends
86.98
Positive
84.12
Positive
93.25
Negative
Market Momentum
-0.06
Positive
53.33
Neutral
53.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HITECH, the sentiment is Positive. The current price of 94.99 is above the 20-day moving average (MA) of 87.35, above the 50-day MA of 86.98, and above the 200-day MA of 93.25, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 53.33 is Neutral, neither overbought nor oversold. The STOCH value of 53.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HITECH.
Hi-Tech Pipes Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹29.23B | 28.57 | ― | 0.08% | 21.73% | 8.46% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹43.75B | 23.45 | ― | 0.38% | 4.18% | 10.75% | |
59 Neutral | ₹18.14B | 23.27 | ― | 0.03% | 36.92% | -9.90% | |
57 Neutral | ₹12.65B | 16.70 | ― | 0.17% | 22.84% | 22.64% | |
47 Neutral | ₹843.72M | 18.18 | ― | ― | -54.95% | 1930.38% | |
43 Neutral | ₹8.56B | 56.56 | ― | ― | 7.26% | -40.98% |
* Basic Materials Sector Average
IN:HITECH
Hi-Tech Pipes Ltd.
89.31
-11.73
-11.61%
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Hi-Tech Pipes Ltd. Corporate Events
Hi-Tech Pipes Publishes Investor Presentation on FY26 Audited Results
May 28, 2026
Hi-Tech Pipes Ltd. notified the stock exchanges that it has released an investor presentation covering its audited financial results for the quarter and full year ended March 31, 2026. The presentation, prepared under SEBI disclosure norms, has be...
Hi-Tech Pipes Posts Record Quarterly and Annual Sales Volumes in FY26
Apr 6, 2026
Hi-Tech Pipes Limited reported its highest-ever quarterly and annual sales volumes, highlighting strong growth momentum in its core ERW steel tubes and pipes business. For the quarter ended March 31, 2026, sales volumes rose about 27% year-on-year...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.