Hi-Tech Pipes Limited, a leading manufacturer of steel tubes and pipes, has announced its unaudited financial results for the third quarter and nine months ended December 31, 2021, showcasing robust growth in both revenue and profitability.

Consolidated Performance Highlights

The company's consolidated net revenue from operations for Q3 FY2022 stood at Rs 440.02 crore, marking a 5.85% increase from Rs 415.70 crore in the corresponding quarter of the previous year. For the nine-month period, Hi-Tech Pipes reported a substantial 35.29% year-on-year growth, with revenues reaching Rs 1,284.07 crore compared to Rs 949.13 crore in the prior year.

Profitability also saw a significant boost, with consolidated profit after tax for Q3 FY2022 reaching Rs 10.17 crore. The nine-month profit after tax stood at Rs 29.12 crore, indicating strong financial performance.

Key Financial Figures

Standalone Performance

On a standalone basis, Hi-Tech Pipes reported a net revenue of Rs 349.58 crore for the quarter and Rs 1,027.81 crore for the nine-month period, further underlining the company's solid operational performance.

Business Segment and Operations

Hi-Tech Pipes continues to operate in a single reportable segment, focusing on the manufacturing of steel tubes and pipes. This focused approach has likely contributed to the company's consistent growth and performance in the market.

Corporate Actions

During the quarter, the company converted 25,000 fully convertible warrants into equity shares, potentially strengthening its equity base and reflecting confidence in its growth prospects.

Audit Review

Independent auditors conducted reviews of both the consolidated and standalone financial results, reporting no material misstatements. This adds credibility to the reported figures and reinforces investor confidence in the company's financial reporting.

Conclusion

Hi-Tech Pipes Limited's financial results for Q3 and the nine months of FY2022 demonstrate the company's ability to achieve strong growth. With significant increases in revenue and profitability, the company appears well-positioned to capitalize on opportunities in the steel tubes and pipes sector.

The robust performance in both consolidated and standalone operations suggests effective management strategies and operational efficiency. As Hi-Tech Pipes continues to focus on its core business, stakeholders will likely monitor its future performance with interest.

Hi-Tech Pipes Limited, a prominent player in the pipes and tubes industry, has announced an upcoming earnings conference call to discuss its financial and operational performance for the third quarter and nine months of the fiscal year 2022.

Conference Call Details

The earnings call is scheduled for January 21, 2022, at 2:00 PM. During this call, the company's management will provide insights into its performance and address questions from analysts and investors.

Key Participants

The conference call will feature key representatives from Hi-Tech Pipes Limited:

• Anish Bansal: Executive Director
• Arvind Bansal: Chief Financial Officer

The call will be moderated by Dhruv Jain from Ambit Capital's Institutional Equities division, ensuring a structured and informative discussion.

Accessing the Call

Investors and interested parties can find the conference call invitation on the company's official website at www.hitechpipes.in . This resource likely contains additional details about how to join the call and any pre-registration requirements.

Stock Information

Hi-Tech Pipes Limited is listed on both major Indian stock exchanges:

This earnings call presents an opportunity for stakeholders to gain deeper insights into Hi-Tech Pipes Limited's recent performance and future outlook. As the company prepares to discuss its Q3 and nine-month results, investors and analysts will be keen to understand how the company has navigated recent market conditions and its strategies for continued growth.

The scheduling of this earnings call demonstrates Hi-Tech Pipes Limited's commitment to transparency and open communication with its investors and the broader financial community. It provides a platform for the company to showcase its achievements and address any challenges faced during the period under review.

Interested parties are encouraged to participate in the call to stay informed about the company's financial health and strategic direction.