Hi-Tech Pipes Ltd., one of the leading steel tubes and pipes manufacturers, announces the achievement of a record-breaking sales volume for the concluding quarter and the fiscal year ended 31 March, 2024. This milestone represents the highest sales figures ever recorded in the company’s history, marking a momentous occasion for the organization and stakeholders.
In the face of declining HRC Prices, Hi-tech has successfully managed to navigate through this and boost its market share in domestic steel pipes industry. The company’s strategic initiatives focused on operational excellence, customer-centric approaches, and increase in share of value added products have resulted in an increase in yearly sales volume of 3,91,147 MT in FY24 from 3,54,032 MT in corresponding previous year.
Commenting on operational performance, Mr. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd. Said, “This is a landmark achievement for Hi-Tech and a testament to the hard work and dedication of our team. Our commitment to quality, innovation, and sustainability has resonated with our customers, resulting in ever-stronger partnerships and market presence. We are dedicated to continuing this growth trajectory and delivering exceptional value to our investors and customers.”
As we embark on the next fiscal period, it does so with an aggressive growth strategy, aimed at solidifying our market share. The introduction of our new facilty at Sanand U II Phase-1 will definitelybolster the company’s sales volume Significantly in FY25. The company’s commitment to investing in cutting-edge manufacturing technology, research and development, and a customer-focused approach are the cornerstones of our growth plan.
Shares of Hi-Tech Pipes Limited was last trading in BSE at Rs. 121.40 as compared to the previous close of Rs. 122.15. The total number of shares traded during the day was 829576 in over 6036 trades.
The stock hit an intraday high of Rs. 130.95 and intraday low of 120.00. The net turnover during the day was Rs. 103299391.00.
Source : Equity Bulls
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HiTechPipes INE106T01017 SalesVolume HighestEver Q4FY2024 Source Link
