Stock below Rs 100: This smallcap stock reports highest ever sales volume!

To cater to impending demand, the company is continually setting up new manufacturing facilities at the strategic locations and enhancing manufacturing capabilities

On Friday, shares of Hi-Tech Pipes zoomed more than 3.6 per cent to make an intraday high of Rs 78.70.  

The company reported highest ever sales volumes of 1,07,237 MT in Q4FY23, registering a growth of 26 per cent on YoY basis. The company also recorded highest ever sales volume of 3,54,032 MT in FY23, witnessing a jump of 28 per cent on YoY basis. The company’s newly launched product colour coated coils “Hitech ColorStar” is well accepted in the market and in line of their expectations they are getting very good response for this product.   

To cater to impending demand, the company is continually setting up new manufacturing facilities at the strategic locations and enhancing manufacturing capabilities while also introducing new value added products and diversifying into various product categories to strengthen their presence across the nation.   

In the quarter ended December 31, 2022, the company’s total income rose by more than 29 per cent from last year’s same quarter to Rs 569.80 crore. The net profitability of the firm jumped by more than 28 per cent from the corresponding quarter last year to Rs 10.16 crore.   

Hi-Tech Pipes is in the business of manufacturing of ERW Steel Round & Section Pipes, cold Rolled Strips & Engineering Products and distribution of the same across India. Hi-Tech pipes is one of India’s leading manufacturers of Steel Pipes with a presence in more than 5,000 retail stores.   

The stock has witnessed heavy buying as it has zoomed more than 50 per cent in just 1 year and more than 30 per cent in just 6 months. Keep a close eye on this trending stock.