Hi-Tech Pipes reported a 37% increase in net revenue from operations to ₹4,200 crore for the financial year ended March 31, 2026, compared to ₹3,068 crore in FY25, driven by record sales volumes. The company's net profit for the year stood at ₹76.16 crore, while total comprehensive income rose 5% to ₹76.58 crore. For the quarter ended March 31, 2026, revenue surged 102% to ₹1,480 crore from ₹734 crore in Q4FY25, with EBITDA jumping 33% to ₹46.32 crore. The Board of Directors approved the audited financial results and the issuance of equity warrants to the promoter group in its meeting held on May 28, 2026. Following the announcement, the company hosted an investor conference call on May 28, 2026, to discuss the audited financial results for the quarter and year ended March 31, 2026. The audio recording of this conference call is now available on the company's website.

Financial Performance

The company's annual sales volume increased by 10% to 5,32,437 metric tonnes (MT) in FY26, compared to 4,85,447 MT in the previous year. EBITDA for the year grew by 8% to ₹173.55 crore from ₹160.03 crore in FY25. Earnings per share (EPS) for the year stood at ₹3.77, compared to ₹3.98 in the prior year. The statutory auditors, M/s A. N. Garg & Company, issued an unmodified opinion on the audited standalone and consolidated financial results.

The following table summarises the key annual financial metrics:

Q4 Operating Performance

On a year-on-year basis, Hi-Tech Pipes delivered a notable improvement in quarterly operating performance. Q4 sales volume reached 1,47,125 MT, a 27% increase from 1,16,032 MT in Q4FY25. Total comprehensive income for the quarter was ₹18 crore, compared to ₹17.50 crore in the same period last year. The key Q4 metrics are summarised below:

Financial Health and Outlook

The company maintained a comfortable financial position with a debt-to-equity ratio of 0.18% in FY26, compared to 0.15 in FY25. Net working capital days increased to 56 days from 52 days. Management expressed optimism regarding the long-term industry outlook, citing strong demand from infrastructure, renewable energy, and construction sectors. The company is targeting a capacity of 2 million tonnes by FY29 through strategic projects including a DFT facility at Sanand and an API pipes facility.

Board Approvals and Corporate Actions

The Board approved the issuance of 90,00,000 Fully Convertible Equity Warrants to persons belonging to the Promoter Group. The warrants are priced at ₹100 each, including a premium of ₹99 per share. The allotment is subject to shareholder approval via postal ballot. Key recipients include Vipul Bansal, AKS Buildcon Pvt. Ltd., and Hi-Tech Agrovision Pvt Ltd. Additionally, the Board appointed M/s S. Shekhar & Co. as Cost Auditors and M/s BAS & Co. LLP as Internal Auditors for FY26-27. The company fixed May 22, 2026, as the cut-off date for the dispatch of the postal ballot notice.

Promoter Ajay Kumar Bansal of Hi-Tech Pipes Limited confirmed that no new encumbrances were created on shares during the financial year ended March 31, 2026. The disclosure, submitted to the National Stock Exchange of India Limited and BSE Limited, asserts that no direct or indirect charges were established other than those already reported.

The declaration was filed pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters to disclose any encumbrance on their holdings to ensure transparency for shareholders. The communication was addressed to the Listing Departments of both exchanges on April 4, 2026.

Regulatory Compliance

The filing serves as a formal confirmation that the promoter's shareholding status regarding encumbrances remains unchanged. The document specifies that the declaration is made on behalf of the promoters, promoter group, and persons acting in concert. A copy of the disclosure was also forwarded to the Audit Committee of Hi-Tech Pipes Limited.

Key Details