Multibagger Steel Pipe Stock Jumps After Appointing Bollywood Celebrity Hrithik Roshan as its Brand Ambassador
The stock is up by 78 per cent from its 52-week low of Rs 97.60 per share and gave multibagger returns of over 1,000 per cent in 5 years.
On Tuesday, shares of Hi-Tech Pipes Ltd gained 3.60 per cent to Rs 173.95 per share from its previous closing of Rs 167.90 per share. The stock’s 52-week high is Rs 210.75 and its 52-week low is Rs 97.60.
Hi-Tech Pipes Limited (NSE: HITECH and BSE Scrip Code: 5434711), a leading manufacturer of premium-quality steel pipes is thrilled to announce the globally loved superstar Hrithik Roshan as its brand ambassador. This strategic partnership aims to further elevate the Hi-Tech Pipes Ltd. brand and expand its reach worldwide. Hrithik Roshan, renowned for his exceptional talent, dedication, and charisma, perfectly embodies the brand's core values of innovation, quality, and strength.
As part of the collaboration, Hrithik will promote the brand across multiple media channels, including Print, Electronic media, outdoor advertisement, Digital Marketing and Radio Channels. This partnership marks a significant milestone for Hi-Tech Pipes Ltd. as it continues to expand its presence and solidify its position as a trusted and preferred choice for consumers across the world.
Hrithik Roshan shared his excitement about the partnership, saying, "I am thrilled to be associated with Hi-Tech Pipes Ltd. and look forward to working together to promote the importance of quality infrastructure.”
Earlier, Hi-Tech Pipes Limited successfully concluded its Rs 500 crore Qualified Institutional Placement (QIP) on October 11, 2024. The QIP, which opened on October 7, 2024, received an overwhelming response from marquee investors, underscoring strong confidence in the company's future growth prospects. The proceeds from the QIP will be utilized to fund the company's growth initiatives, including capacity expansion, strategic acquisitions and debt reduction.
About Hi-Tech Pipes Limited.:
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, Solar Torque Tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, Colour Coated Coils and a variety of other galvanised 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 and is on its way to reaching 1 million Tones Capacity in FY25. The company has a direct marketing presence in over 20 states with more than 450+ Dealers & distributors across India.
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Results: In Q2FY25, the company experienced a significant boost in total sales volume, rising by 22.50 per cent to 1.23 lakh tonnes compared to the previous year's 1 lakh tonnes. This growth was primarily driven by increased demand for steel tubes, structural steel products, and value-added products. Despite this positive trend, revenue from operations declined by 5.3 per cent to Rs 705.89 crore due to a steep decrease in raw material prices. However, the company's profitability improved significantly, with PAT increasing by 72 per cent.
In the first half of FY25, the company witnessed significant growth across various key financial metrics. Revenue from operations surged by 13.31 per cent to Rs. 1572.88 crore, primarily driven by higher sales volumes. This growth was accompanied by a substantial increase in profitability, with PAT rising by 95 per cent to Rs 36.16 crore. Total sales volumes also experienced a remarkable 32.55 per cent increase to 2.45 lakh tonnes, fuelled by robust demand for steel tubes and structural steel products.
The company has a market cap of over Rs 3,500 crore. In October 2024, FIIs bought 99,77,902 shares and increased their stake to 12.98 per cent compared to 9.31 per cent in September 2024. The stock is up by 78 per cent from its 52-week low of Rs 97.60 per share and gave multibagger returns of over 1,000 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.