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Hi-Tech Pipes Ltd.
(HITECH)
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Rating:58Neutral
Price Target:
₹77.00
▼(-6.20% Downside)
Action:Reiterated
Date:08/30/26
The score is primarily driven by strong revenue growth and improved balance-sheet leverage, offset by inconsistent cash conversion and mostly negative free cash flow. Technicals are weak-to-neutral (negative MACD and price below key longer-term averages), while valuation is moderate with a supportive ~3.1% dividend yield but no clear bargain signal.
Positive Factors
Strong Revenue Growth
Strong and accelerating revenue indicates expanding demand for the company’s products across its served markets. If sustained, this growth can improve scale, support better capacity utilization, and strengthen Hi-Tech Pipes’ competitive position over the next several quarters.
Negative Factors
Volatile Cash Conversion
Unpredictable operating cash flow means reported growth and profits are not consistently converting into cash. Mostly negative free cash flow also indicates that reinvestment or capital needs are absorbing internally generated funds, limiting funding flexibility and increasing execution pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong and accelerating revenue indicates expanding demand for the company’s products across its served markets. If sustained, this growth can improve scale, support better capacity utilization, and strengthen Hi-Tech Pipes’ competitive position over the next several quarters.
Read all positive factors
Hi-Tech Pipes Ltd. (HITECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹14.99B
Dividend Yield0.03%
Average Volume (3M)71.40K
Price to Earnings (P/E)20.4
Beta (1Y)1.58
Revenue Growth61.15%
EPS Growth-9.11%
CountryIN
Employees551
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)3.73
Shares Outstanding203,107,730
10 Day Avg. Volume61,906
30 Day Avg. Volume71,400
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)4.27
Revenue Forecast (FY)₹50.48B
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
Hi-Tech Pipes Ltd. primarily makes money by manufacturing and selling finished steel tubular and structural products. Its core revenue stream is sales of ERW steel pipes and tubes and hollow/structural sections (sold in various sizes, grades, and ...
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 | 48.22B | 42.00B | 30.68B | 26.99B | 23.86B | 18.77B |
| Gross Profit | 2.69B | 2.44B | 2.30B | 2.37B | 2.12B | 1.30B |
| EBITDA | 1.84B | 1.74B | 1.62B | 1.13B | 989.57M | 977.34M |
| Net Income | 752.82M | 761.61M | 729.49M | 439.31M | 376.81M | 403.26M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 20.24B | 17.56B | 11.79B | 9.16B | 7.69B |
| Cash, Cash Equivalents and Short-Term Investments | 869.96M | 869.96M | 1.83B | 23.33M | 18.89M | 9.03M |
| Total Debt | 0.00 | 2.68B | 1.79B | 4.02B | 2.73B | 3.93B |
| Total Liabilities | -13.33B | 6.90B | 4.98B | 6.02B | 4.97B | 5.11B |
| Stockholders Equity | 13.33B | 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
Negative
82.09
Price Trends
81.44
Negative
85.17
Negative
85.43
Negative
Market Momentum
-1.94
Negative
44.92
Neutral
32.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HITECH, the sentiment is Negative. The current price of 82.09 is above the 20-day moving average (MA) of 77.52, above the 50-day MA of 81.44, and below the 200-day MA of 85.43, indicating a bearish trend. The MACD of -1.94 indicates Negative momentum. The RSI at 44.92 is Neutral, neither overbought nor oversold. The STOCH value of 32.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HITECH.
Hi-Tech Pipes Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹649.06B | 30.37 | ― | 0.19% | 20.21% | 14.36% | |
68 Neutral | ₹186.26B | 28.27 | ― | 0.69% | -8.57% | -62.05% | |
66 Neutral | ₹45.70B | 14.71 | ― | 2.38% | 11.69% | 8.23% | |
65 Neutral | ₹61.71B | 31.12 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹188.58B | 46.29 | ― | 0.35% | -16.30% | -24.14% | |
58 Neutral | ₹14.99B | 20.41 | ― | 0.03% | 61.15% | -9.11% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HITECH
Hi-Tech Pipes Ltd.
76.14
-46.43
-37.88%
IN:JINDALSAW
Jindal Saw Limited
289.45
81.27
39.04%
IN:MANINDS
Man Industries (India) Limited
851.75
413.05
94.15%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,862.75
457.50
19.02%
IN:SURYAROSNI
Surya Roshni Limited
210.65
-69.55
-24.82%
IN:WELCORP
Welspun Corp Limited
2,657.70
1,769.80
199.32%
Hi-Tech Pipes Ltd. Corporate Events
Hi-Tech Pipes Publishes Q1 FY27 Investor Presentation on Unaudited Results
Aug 12, 2026
Hi-Tech Pipes Limited has released an investor presentation detailing its unaudited financial results for the quarter ended June 30, 2026, corresponding to Q1 FY27. The presentation has been filed with both the National Stock Exchange of India and...
Hi-Tech Pipes Files SEBI Compliance Certificate, Confirms Fully Demat Shareholding
Jul 10, 2026
Hi-Tech Pipes Limited has submitted to the stock exchanges a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026, as part of its routine compliance and disclosure obl...
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.