Hi-Tech Pipes Ltd., a prominent player in India’s steel tube and pipe industry, achieved another milestone as India Ratings & Research, a Fitch Group company, upgraded the firm’s credit ratings. The upgrade reflects the company’s robust performance and ambitious growth trajectory.
Chairman Ajay Kumar Bansal emphasized on the company’s progress, stating, “India Ratings & Research upgrading our credit rating underscores our robust financial management, consistent operational excellence, and the trust the financial community places in our company.”
Hi-Tech Pipes share price history
Hi-Tech Pipes share price was trading in the green, up 2.1 per cent, at ₹171, on December 16, at 9:15 am, as per BSE. The company enjoys a market capitalisation of ₹3,357.37 crore, as per BSE. HI-Tech Pipes share price hit its 52-week high of ₹210.85, September 23, 2024, as per NSE.
Hi-Tech Pipes share price has risen by 68 per cent on year-to-date (YTD) basis rising from a level of ₹119.45 to ₹201.60, as per BSE. On Friday, October 11, Hi-Tech Pipes ended trading at ₹201.25 per share, showing a decline. Hi-Tech Pipes share price has delivered an impressive 130 per cent return over the past year.
The stock price of Hi-Tech Pipes has shown an extraordinary surge, delivering a staggering 1,100 per cent return over the past five years, earning it a reputation as a multibagger in the small-cap space. Following the ratings upgrade, shares further rallied as the market responded positively to the recognition of the company’s improving financial and operational metrics.
According to the India Ratings & Research rationale, the company has demonstrated remarkable growth in revenue, sales volume, and operational efficiency. Key highlights include a 33 per cent year-on-year sales volume growth in the first half of FY25 and consistent improvement in EBITDA per tonne, driven by a focus on value-added products.
The company is ramping up its operations with new facilities in Gujarat and Uttar Pradesh, adding significant capacity to its existing portfolio. Hi-Tech Pipes is also exploring green energy initiatives, including captive solar power and green hydrogen, aimed at cost efficiency and sustainable growth, as per India Ratings & Research.
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