700 per cent returns: This multibagger small-cap company reports stellar results with a 142 per cent jump in net profit!

The stock gave multibagger returns of over 700 per cent in 3 years whereas NSE Nifty-50 Index is up by 63 per cent.

Hi-Tech Pipes Limited (NSE: HITECH, BSE: 543411), one of the leading steel processing companies in India, announced its Quarterly Results and half-yearly results ended September 30, 2023. Details below:

Quarterly Results (Q2FY24)

• Revenue from operations is up by 24.64 per cent to Rs 746 crore compared to Q2FY23.
• EBITDA has grown by 12.39 per cent to Rs 27.49 crore compared to Q2FY23.
• PAT increased by 142.36 per cent to Rs 10.53 crore compared to Q2FY23.

Half-yearly Results (H1FY24)

• Revenue from operations is up by 24.53 per cent to Rs 1,388.17 crore compared to H1FY23.
• EBITDA has grown by 14.27 per cent to Rs 48.95 crore compared to H1FY23.
• PAT increased by 110.28 per cent to Rs 18.55 crore compared to H1FY23.

In the financial year 2022-2023, the company conducted a stock split, reducing the share value from Rs 10 to Rs 1, with a record date set on March 17, 2023. The net sales increased by 27 per cent to Rs 2,385.85 crore, EBITDA increased by 3 per cent to Rs 103.21 crore and PAT decreased by 6 per cent to Rs 37.79 crore in FY23 over FY22.

On Monday, shares of Hi-Tech Pipes Ltd gained 1.05 per cent to Rs 100.79 per share with an intraday high of Rs 103.64 and an intraday low of Rs 99.50. The company has a market cap of Rs 1,320 crore and has delivered good profit growth of 18.3 per cent CAGR over last 5 years.

The stock gave multibagger returns of over 700 per cent in 3 years whereas NSE Nifty-50 Index is up by 63 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.