686% Rise In 3-Yrs: Small Cap Metal Stock Announces Over Two-Fold Jump In Q2 Net Profit

Small cap stock, that delivered over 686% return in last 3-years, Hi-Tech Pipes declared more than two-fold jump in its net profit to Rs 10.53 crore for September quarter on increased income as against Rs 4.36 crore net profit declared in the corresponding period of last year, according to its regulatory filing issued on October 28. Hi-Tech Pipes said its total income surged to Rs 746.73 crore for the quarter under consideration from Rs 599.40 crore in the last fiscal year.

Hi-Tech Pipes' Managing Director Ajay Kumar Bansal said, ""We will continue to increase the share of value-added products in our product basket and increase the overall market share of the company in steel piping."

Hi-Tech Pipes said its total sales volumes soared by 17.45% to 1 lakh tonnes, as against 0.85 lakh tonnes in Q2 FY23, led by better demand for steel tubes/structural steel products and value-added products.

Last trading price of Hi-Tech Pipes share on BSE is Rs 99.74 apiece with intraday gain of 4.39% as on October 27, 2023. The stock's 52-week high price is Rs 105.00 per share and 52-week low price is Rs 58.50 per share, respectively.

The company's market capitalisation is Rs 1304.71 crore.

Hi-Tech Pipes stock offered return of 27% in last 3-months, gained 29% in last 6-months, offered a rally of 54%, and gave return of 686% in last 3-years. In last 5-years, Hi-Tech Pipes shares surged 324%.

Hi-Tech Pipes operates in metal & ferrous sector and came into existence in 1985.
Hi-Tech Pipes Limited is a dominant player in the Indian piping industry and has established itself as a leading manufacturer and supplier of ERW (electric resistance welding) pipes. with its headquarters in New Delhi, India, it specializes in steel pipes and tubes for a variety of industries, such as infrastructure, telecommunications, defence, railroads, airports, real estate, and automobiles, according to its official website.