Small-cap stock reports a 42 per cent jump in net profit!

In the financial year 2022-2023, the company conducted a stock split, reducing the share value from Rs 10 to Rs 1.

Hi-Tech Pipes Limited (NSE: HITECH, BSE: 543411), one of the leading steel processing companies in India, reported its financial results for the quarter and full year ended March 31, 2023. Details below:

Quarterly Results (Q4FY23)

• Revenue from operations is up by 18 per cent to Rs.701.85 crore.
• EBITDA has grown by 13 per cent to Rs 33.75 crore.
• PAT increased by 42 per cent to Rs 15.91 core from Rs 11.22 crores in Q4FY22

Annual Results (FY23)

• Revenue from operations is up by 27 per cent to Rs 2,385.85 crore.
• EBITDA has grown by 3 per cent to Rs 103.21 crore.
• PAT decrease by 6 per cent to Rs 37.79 crore from Rs 40.33 crore in Q4FY22.
• Debt Equity Ratio (D/E) has improved significantly to 0.66x from 1.42x.

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The company is experiencing significant demand across multiple sectors, supported by government initiatives in infrastructure and housing, water supply, oil and gas, solar energy, agriculture, railway infrastructure, airports, and defence. 

On Friday, shares of Hi-Tech Pipes Ltd soared 1.45 per cent to Rs 76.21 per share from its previous closing of Rs 75.12. 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 stock gave multibagger returns of 138.24 per cent from its 52-week high of Rs 32.30 per share. Investors should keep an eye on this small-cap stock.