Hi-Tech Pipes Achieves 45% YoY Sales Increase in Q1FY25

Hi-Tech Pipes Ltd has reported its operational results for the quarter ended June 2024, marking a historic achievement with its highest-ever sales volume in Q1FY25. The company recorded a substantial 45% increase in sales volume, reaching 1,22,155 metric tons (MT) compared to 84,489 MT in the same period last year, and a 13% increase quarter-on-quarter from 1,07,721 MT in Q4FY24.

This growth underscores Hi-Tech Pipes’ effective strategic initiatives, including expanding product lines, bolstering marketing efforts, and optimising operational processes.

The company attributes this milestone to its unwavering commitment to excellence, innovation, and customer satisfaction. By consistently enhancing its product offerings and refining internal efficiencies, Hi-Tech Pipes has strengthened its market position and responded effectively to evolving industry demands.

The company’s robust performance in Q1FY25 sets a positive trajectory for future quarters, reflecting its proactive approach to meeting market challenges and seizing growth opportunities in the competitive landscape.

Speaking of the operational performance, the Chairman and Managing Director of Hi-Tech Pipes Ltd, Mr Ajay Kumar Bansal, said, “We are thrilled to reach this major milestone, which demonstrates our team’s dedication and hard work. Our focus on quality, customer-centric approach, and continuous improvement has enabled us to achieve this record-breaking sales volume.”

He further added, “We are confident that this momentum will continue, driving our growth and success in the industry. Further, we are extremely pleased with the contribution of our new manufacturing facility Sanand Unit II Phase 1, Gujarat, to our sales volume. The facility has been operational in the end of Q4FY24 and has already started to make an impact on our production capacity and efficiency. This new facility is a game-changer for us, and will further cement our leadership position in western market.”

About Hi-Tech Pipes Ltd

Hi-Tech Pipes is one of the leading steel processing companies in India. The company has been offering world-class innovative products for about four decades with a robust presence in steel pipes, tubes, hollow sections, road crash barriers, cold rolled coils and strips, GP/GC sheets, colour-coated coils, solar mounting structures, and various other galvanised products. The company operates 6 state-of-the-art integrated manufacturing facilities located in India.

On July 18, 2024, the share price of Hi-Tech Pipes Limited opened at ₹149.00, touching the day’s high at ₹159.07, as of 11:38 AM on the NSE.

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