Hi-Tech Pipes has announced its audited consolidated financial results for the fourth quarter and year ended March 31, 2019. The net revenue from operations is Rs 380.4 crore in Q4 FY19, as against Rs 282.3 crore in Q4 FY18, a y-o-y growth of 35 per cent, mainly on account of increase in steel prices, better product mix and higher volumes. The company’s EBITDA stood at Rs 20.6 crore in Q4 FY19 as against Rs 15.0 crore in Q4 FY18, y-o-y growth of 37 per cent, mainly on account of better operational efficiencies, expansion in higher profitable markets of West (Sanand, Gujarat) and South (Hindupur, Andhra Pradesh) and increase in sale of value added products.
The net revenue from the operations stood at Rs 1,360.4 crore in FY19, as against Rs 1,015.7 crore in the FY18, a tremendous y-o-y growth of 34 per cent. The Profit After Tax is Rs 27.5 crore in FY19 as compared to Rs 21 crore in FY18, excellent y-o-y growth of 31 per cent. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes said, “We endeavour to create Hitech Pipes as the most preferred brand by customers. The essence of our paradigm shift is already being reflected in our constant growth and we are constantly striving to leave the footprints of our legacy for the upcoming generations to follow.”
