Hi-Tech Pipes Limited (NSE: HITECH, BSE: 543411), one of the leading Steel Pipes companies in India, has announced that it has achieved the highest sales volume in its history for Q1FY25. This remarkable milestone is a testament to the company’s commitment to excellence, innovation, and customer satisfaction.
In Q1, Hi-Tech Pipes has recorded a significant increase of 45% with a total sales volume of 1,22,155 MT compared to the same period last year from 84,489 MT and 13% on Q-o-Q compared to the sales volume of 1,07,721 MT in Q4FY24. This achievement is attributed to the company’s strategic initiatives, including expansion of product lines, enhanced marketing efforts, and process optimizations.
Commenting on operational performance, Mr. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd. 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. 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 San and 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.”
Recently, the company approved the allotment of 1,77,55,000 equity shares against conversion of warrants, to members of the promoter group and non-promoter group. Earlier, the company announced that it has been recognized as the highest taxpayer (Bhama shah Award) for FY2023-24 in Bulandshahr District by the Department of Commercial Taxes Uttar Pradesh. This prestigious award acknowledges Hi-Tech Pipes contribution to the nation’s economy through its timely and transparent payment of taxes. The company’s commitment to compliance and ethical business practices has earned this distinguished recognition.
One of India’s leading steel processing companies, providing world class innovative products for nearly Four decades with a strong presence in steel pipes, hollow sections, tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, Color Coated Coils and a variety of other galvanized products. The Company operates Six(6) state-of-the-art integrated manufacturing facilities located at Sikandrabad (UP), Sanand (Gujarat), Hindupur (AP) – near Bangalore, and Khopoli (Maharashtra), with an installed capacity of 7,50,000 MTPA, on a consolidated basis. The Company has direct marketing presence in over 20 states with more than 450+ Dealers & distributors across India.