# Hi-Tech Pipes share price today (Hi-Tech Pipes Ltd, NSE: HITECH)

> Hi-Tech Pipes share price today: ₹77.16 at the NSE close on 4 November 2026, down 27.4% in a year. Hi-Tech Pipes (NSE: HITECH) is worth ₹1,568 crore, trades at a P/E of 20.9 and has closed between ₹63.68 and ₹106.51 over the past 52 weeks. > Hi-Tech Pipes Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. HITECH · Steel - Tubes/Pipes · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/hi-tech-pipes-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹77.16 (−27.4% in a year)
- P/E: 20.9× (lower than 55% of the last 9.1 years)
- Revenue (Jun 2026): ₹1,413 Cr (+78.6% on a year ago)
- Profit (Jun 2026): ₹20.0 Cr (−4.8% on a year ago)
- Operating margin: 3.5% (−1.5 points on a year ago)
- ROCE: 10%, FY26
- ROIC: 7.6%, against a 12.0% cost of capital: −4.4 points

The main question: yearly earnings per share moved +4.5% while the share price moved −27.4%. ## What is the Hi-Tech Pipes share price today? Hi-Tech Pipes Ltd's share price was ₹77.16 at the close on 4 November 2026. It has been falling for 47 weeks. That is 7.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹64 and ₹107, and at that close it sat 31% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 20 weeks running. Over the last 9.8 years the share price moved +408% while the NIFTY 500 moved +195%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 25 June 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Hi-Tech Pipes this quarter? One change stood out: revenue up on a year earlier for 4 quarters in a row. 1. Revenue up on a year earlier for 4 quarters in a row In the June 2026 quarter revenue was ₹1,413 crore, +78.6% on a year earlier. Why: Revenue rose because new solar manufacturing capacity started producing more. Next results: check if sales volume stays close to the June quarter and improves in the second half as monsoon and geopolitical problems ease. From the earnings call on 13 Aug 2026. ## What are Hi-Tech Pipes' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Hi-Tech Pipes reported revenue of ₹1,413 crore, up 78.6% from ₹791 crore a year earlier, and a profit of ₹20.0 crore, down 4.8% from ₹21.0 crore. ### Hi-Tech Pipes results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,413 crore | ₹791 crore | +78.6% |
| Profit | ₹20.0 crore | ₹21.0 crore | −4.8% |
| Earnings per share | ₹0.99 | ₹1.03 | −3.9% |
| Operating margin | 3.5% | 5.0% | −1.5 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Hi-Tech Pipes' management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Hi-Tech Pipes share price history? Hi-Tech Pipes closed at ₹77.16 on 4 November 2026, down 27.4% from ₹106.21 a year earlier (7 November 2025) and up 26.2% over five years. Its highest weekly close since January 2017 was ₹205.24 on 20 September 2024. ### Hi-Tech Pipes share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹68.44 | +12.7% |
| 1 month ago · 1 Oct 2026 | ₹71.42 | +8.0% |
| 6 months ago · 8 May 2026 | ₹90.59 | −14.8% |
| 1 year ago · 7 Nov 2025 | ₹106.21 | −27.4% |
| 3 years ago · 3 Nov 2023 | ₹101.95 | −24.3% |
| 5 years ago · 4 Nov 2021 | ₹61.14 | +26.2% |
| Earliest weekly close in our records · 20 Jan 2017 | ₹15.20 | +407.6% |
| Highest weekly close since January 2017 · 20 Sep 2024 | ₹205.24 | −62.4% |
| Lowest weekly close since January 2017 · 27 Mar 2020 | ₹7.06 | +992.9% |
| 52-week high (weekly close) · 14 Nov 2025 | ₹106.51 | −27.6% |
| 52-week low (weekly close) · 23 Oct 2026 | ₹63.68 | +21.2% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (517 weekly closes from 20 January 2017 to 4 November 2026.)

## What is the latest news on Hi-Tech Pipes? 4 Nov 2026: Hi-Tech Pipes closed at ₹77.16, up 12.7% on the week and up 8.0% on the month. 13 Aug 2026: Hi-Tech Pipes held its results call for April to June 2026. Management guided: FY27 sales volume 6.5-7 lakh tonnes and FY28 sales volume 1 million tonnes. ### Earlier

- Results for April to June 2026: Revenue up 78.6% and profit down 4.8% on a year earlier. ## What dividend does Hi-Tech Pipes pay? Hi-Tech Pipes paid no dividend in the 12 months to 5 November 2026. The last was a dividend of ₹0.03 a share, ex-date 19 September 2025. ### Hi-Tech Pipes dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 19 Sep 2025 | ₹0.03 | Dividend | 20 Sep 2025 |
| 13 Sep 2024 | ₹0.03 | Dividend | 14 Sep 2024 |
| 22 Sep 2023 | ₹0.03 | Dividend | same day |
| 20 Sep 2022 | ₹0.50 | Dividend | 21 Sep 2022 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Hi-Tech Pipes Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 9 of its last 11 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Hi-Tech Pipes management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, Hi-Tech Pipes' management guided: FY27 sales volume 6.5-7 lakh tonnes and FY28 sales volume 1 million tonnes. > “The majority will be in DFT and the coated steel segment. These will form the major share, along with API, because it will take a couple of months for the approvals and other processes. Going forward, API should contribute significantly to the company's bottom line.”
> Anish Bansal, Whole-time Director, on the call for April to June 2026

### What management guided

- Added capacity requires around ₹650 crore total capital spending, including about ₹200 crore this year; ₹300-350 crore remains for FY28-FY29 after FY26. - Sanand DFT Phase 3 operational October to December 2026; API pipes ready and Hindupur integrated facility operational January to March 2027. - VAP mix planned at 45-50% in FY28 and operating profit per tonne in the ₹4,000 band by FY28 as DFT benefits arrive and rebates end. - Large hollow-section data-center sales planned at 15-20,000 tonnes this year. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/5653/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What to watch in Hi-Tech Pipes' next results? When Hi-Tech Pipes reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Q2 volumes to resemble Q1 and H2 to strengthen after monsoon and geopolitical easing - check whether seasonal delivery supports the annual range. - What to check (from the call)
- Q2 volumes to resemble Q1 and H2 to strengthen after monsoon and geopolitical easing - check whether seasonal delivery supports the annual range. - DFT progress and API approvals - check commissioning trajectory, customer qualification and specialized-pipe order traction. - Operating profit per tonne to improve as rebates end - check utilization, gas-cost burden and freight pass-through. - Data-center hollow-section orders and solar exports - check conversion into recurring volumes and repeat customer demand. ## Which stock lists is Hi-Tech Pipes on? Hi-Tech Pipes is on one of our India lists: Penny stocks. [Penny stocks Earnings growth, 12 months (%): -3.88](https://www.sectoralpha.in/penny-stocks-india)

## Is Hi-Tech Pipes profitable? Hi-Tech Pipes Ltd earned ₹20.0 Cr of net profit in the Jun 2026 quarter, −4.8% on the same quarter a year earlier. Full-year FY26 profit was ₹76.0 Cr. Over 10 years profit has grown 28.9% a year on average. That is 1.4% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr. For the full year, FY26 profit was ₹76.0 Cr (+4.1% on the year before). Why profit moved: revenue changed +78.6% on a year earlier and the margin moved −1.5 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed −1.1% and revenue +60.6%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Hi-Tech Pipes make, and is it growing? Hi-Tech Pipes Ltd reported ₹1,413 Cr of revenue in the Jun 2026 quarter, +78.6% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 23.6% a year on average. The last full year, FY26, came in at ₹4,200 Cr. The last four reported quarters add to ₹4,822 Cr. FY26 revenue was ₹4,200 Cr, +36.9% on the year before. Recent pace: the last four quarters grew +60.6% on average, against 23.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +61.2%, against +28.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −1.3%, against +17.9% a year (rolling over). ## How much of every ₹100 of sales does Hi-Tech Pipes keep? Hi-Tech Pipes Ltd's operating margin was 3.5% in the Jun 2026 quarter, 1.5 percentage points lower than the same quarter a year ago. Across 11 years it has been between 4.1% and 6.0%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −1.7 percentage points on the year while gross margin changed −3.2 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Hi-Tech Pipes' profit turning into cash? Over the last 3 years Hi-Tech Pipes Ltd's operations used more cash than they brought in, so cash conversion was −11%, a gap worth watching. In FY26 it brought in ₹3.0 Cr of operating cash against ₹76.0 Cr of profit. After ₹178 Cr of spending on assets, free cash was −₹175 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −11% of profit came in as cash: the cash cycle got 57 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 57 days longer. The next section looks at where the cash is stuck. ## Where does Hi-Tech Pipes' cash go? Hi-Tech Pipes Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 132 days in FY26, up from 75 days in FY21. It spent ₹477 Cr on assets over the last 3 years. Customers take 39 days to pay, and stock sits for 266 days on average. At FY26 sales of ₹4,200 Cr, each day of that cycle ties up about ₹11.5 Cr, so roughly ₹1,519 Cr is tied up in the business at any time. FY26: customers took 39 days to pay and stock sat for 266 days, about 8.8 months of sales sitting as stock, for a full cycle of 132 days, longer than FY21's 75. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 266 days. Customers pay about 39 days after that. Suppliers are paid at 173 days. Together that makes the 132-day cycle. Spending on assets: ₹477 Cr over the last 3 years, against ₹63.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹103 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Hi-Tech Pipes' P/E ratio, and how does it compare with its own history? Hi-Tech Pipes Ltd's P/E is 20.9×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 21.8×, over 9.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +4.5% while the price moved −27.4%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +4.8% a year; about +7.7% a year came from earnings growth and about −2.9 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Hi-Tech Pipes business getting better or worse? Hi-Tech Pipes Ltd's business is giving mixed signals. Revenue growth is rising at +61.2% while profit growth is falling at −1.3%, so the lines disagree and each one tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does Hi-Tech Pipes earn on its capital? Hi-Tech Pipes Ltd earned a ROCE of 10% in FY26. Its return on capital used (ROIC) is 4.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 1.8% net margin and 2.08× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 1.8% net margin × 2.08× asset turnover × 1.52× leverage (assets divided by equity) ≈ 5.7% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 7.6% − 12.0% = −4.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Hi-Tech Pipes have too much debt? Hi-Tech Pipes Ltd has total debt of ₹268 Cr against shareholder equity of ₹1,333 Cr as of Jun 2026, so its debt is 0.20× its equity, which is very little. Year by year, that ratio went from 1.52 in FY22 to 0.20 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Hi-Tech Pipes shareholding pattern? Foreign institutions cut their stake in Hi-Tech Pipes Ltd by 8.2 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 1.1% of the company. Promoters moved −7.3 points over the same period, to 43.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −8.2 points over 8 quarters, to 1.1%; Promoters: −7.3 points over 8 quarters, to 43.4%; Domestic institutions: +2.8 points over 8 quarters, to 12.8%. Why the owners changed: foreign institutions moved −8.2 points and domestic institutions +2.8 points over 8 quarters, while promoters moved −7.3 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Hi-Tech Pipes from balance-sheet trouble? For Hi-Tech Pipes Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Hi-Tech Pipes rank in its industry? 34.4 out of 100, rank 13 of 15 in Steel - Tubes/Pipes, with 96% of the evidence available. Hi-Tech Pipes Ltd scores 34.4 out of 100 against the 15 companies it is compared with in Steel - Tubes/Pipes, ranking 13. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 13.9 + 6.3 + 12.6 + 1.6 = 34.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Hi-Tech Pipes compared with? Hi-Tech Pipes ranks 13 of 15 Steel - Tubes/Pipes companies on the 4-Factor Sector Score, with 34.4 out of 100. 1. [Sambhv Steel Tubes Ltd](https://www.sectoralpha.in/stocks/sambhv-steel-tubes-ltd) SAMBHV · breaking out · Most evidence points up · 93% evidence 74.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.4/35 · Revenue 41.9% · Profit 100% · Operating margin change 2 points · 100% evidence Capital efficiency 15.8/25 · ROCE 19.1% · Operating margin 12% · 100% evidence Valuation 9.6/20 · P/E 22.7× · PEG 1.74 · 65% evidence Relative strength 19.3/20 · Lead over its industry 27.9% · Lead over NIFTY 500 39% · 1 year 35.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.4 + 15.8 + 9.6 + 19.3 = 74.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Gandhi Special Tubes Ltd](https://www.sectoralpha.in/stocks/gandhi-special-tubes-ltd) GANDHITUBE · breaking out · Most evidence points up · 96% evidence 70.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.1/35 · Revenue 11.1% · Profit 13.6% · Operating margin change 4 points · 88% evidence Capital efficiency 22.4/25 · ROCE 28.4% · Operating margin 47% · 100% evidence Valuation 16.6/20 · P/E 13.1× · PEG 0.85 · 100% evidence Relative strength 11.4/20 · Lead over its industry -1.2% · Lead over NIFTY 500 8.5% · 1 year -0.9% · 100% evidence · 8 of 12 weeks ahead Exact sum: 20.1 + 22.4 + 16.6 + 11.4 = 70.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [APL Apollo Tubes Ltd](https://www.sectoralpha.in/stocks/apl-apollo-tubes-ltd) APLAPOLLO · breaking out · Most evidence points up · 100% evidence 69.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 14.9% · Profit 24.8% · Operating margin change 0 points · 100% evidence Capital efficiency 20.8/25 · ROCE 31.8% · Operating margin 8% · 100% evidence Valuation 10.4/20 · P/E 45.9× · PEG 0.92 · 100% evidence Relative strength 15.4/20 · Lead over its industry 3.8% · Lead over NIFTY 500 14.7% · 1 year 20.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.5 + 20.8 + 10.4 + 15.4 = 69.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Man Industries (India) Ltd](https://www.sectoralpha.in/stocks/man-industries-indialtd) MANINDS · leader · Most evidence points up · 96% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Revenue 10.8% · Profit 25.9% · Operating margin change 7 points · 88% evidence Capital efficiency 14.9/25 · ROCE 16.2% · Operating margin 14% · 100% evidence Valuation 11.1/20 · P/E 26.6× · PEG 0.22 · 100% evidence Relative strength 19.7/20 · Lead over its industry 31% · Lead over NIFTY 500 40% · 1 year 76.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 23.2 + 14.9 + 11.1 + 19.7 = 68.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [DEE Development Engineers Ltd](https://www.sectoralpha.in/stocks/dee-development-engineers-ltd) DEEDEV · quiet · Evidence leans up · 89% evidence 60.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 40.1% · Profit 50% · Operating margin change 1 points · 88% evidence Capital efficiency 9.1/25 · ROCE 10.7% · Operating margin 17% · 100% evidence Valuation 13.6/20 · P/E 46.6× · PEG 0.62 · 65% evidence Relative strength 11.8/20 · Lead over its industry 14.2% · Lead over NIFTY 500 20.2% · 1 year 96.8% · 100% evidence · 3 of 12 weeks ahead Exact sum: 26.4 + 9.1 + 13.6 + 11.8 = 60.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Venus Pipes & Tubes Ltd](https://www.sectoralpha.in/stocks/venus-pipes-tubes-ltd) VENUSPIPES · leader · Evidence leans up · 96% evidence 58.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.1/35 · Revenue 21.9% · Profit 14.3% · Operating margin change 0 points · 88% evidence Capital efficiency 20.8/25 · ROCE 21.3% · Operating margin 16% · 100% evidence Valuation 4.1/20 · P/E 39.9× · PEG 3.94 · 100% evidence Relative strength 17.3/20 · Lead over its industry 22.1% · Lead over NIFTY 500 31.6% · 1 year 41.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 16.1 + 20.8 + 4.1 + 17.3 = 58.3 · What this means: Relative strength against the index is 31.6%, and revenue and profit growth are weak. 7. [JTL Industries Ltd](https://www.sectoralpha.in/stocks/jtl-industries-ltd) JTLIND · breaking out · Evidence leans up · 78% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 19% · Profit 42.4% · Operating margin change 3.7 points · 83% evidence Capital efficiency 7.9/25 · ROCE 9.6% · Operating margin 8% · 76% evidence Valuation 12.4/20 · P/E 25.4× · PEG n/a · 50% evidence Relative strength 13.2/20 · Lead over its industry 3.4% · Lead over NIFTY 500 12.7% · 1 year 15.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.6 + 7.9 + 12.4 + 13.2 = 56.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Goodluck India Ltd](https://www.sectoralpha.in/stocks/goodluck-india-ltd) GOODLUCK · breaking out · Evidence leans up · 100% evidence 56.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.4/35 · Revenue 18.8% · Profit 31.3% · Operating margin change 0 points · 100% evidence Capital efficiency 12.8/25 · ROCE 14.4% · Operating margin 9% · 100% evidence Valuation 9.7/20 · P/E 23.4× · PEG 0.94 · 100% evidence Relative strength 13.1/20 · Lead over its industry 10.3% · Lead over NIFTY 500 20% · 1 year 17.9% · 100% evidence · 7 of 12 weeks ahead Exact sum: 20.4 + 12.8 + 9.7 + 13.1 = 56 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Hariom Pipe Industries Ltd](https://www.sectoralpha.in/stocks/hariom-pipe-industries-ltd) HARIOMPIPE · quiet · Evidence leans down · 81% evidence 45.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 10.8% · Profit 1.5% · Operating margin change 0 points · 88% evidence Capital efficiency 13.2/25 · ROCE 15.7% · Operating margin 12% · 100% evidence Valuation 10.3/20 · P/E 13.8× · PEG 3.05 · 100% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -9.6% · 1 year -30.9% · 25% evidence · 1 of 12 weeks ahead Exact sum: 13.1 + 13.2 + 10.3 + 8.4 = 45 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Maharashtra Seamless Ltd](https://www.sectoralpha.in/stocks/maharashtra-seamless-ltd) MAHSEAMLES · losing its lead · Evidence leans down · 96% evidence 43.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.0/35 · Revenue -12.2% · Profit -16.1% · Operating margin change 2 points · 88% evidence Capital efficiency 12.2/25 · ROCE 14.3% · Operating margin 16% · 100% evidence Valuation 15.7/20 · P/E 9.8× · PEG 0.78 · 100% evidence Relative strength 5.6/20 · Lead over its industry -13.8% · Lead over NIFTY 500 -5.3% · 1 year -5.2% · 100% evidence · 6 of 12 weeks ahead Exact sum: 10 + 12.2 + 15.7 + 5.6 = 43.5 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 11. [Scoda Tubes Ltd](https://www.sectoralpha.in/stocks/scoda-tubes-ltd) SCODATUBES · quiet · Evidence leans down · 64% evidence 43.2 out of 100 Growth Capital Valuation Relative
12. [Surya Roshni Ltd](https://www.sectoralpha.in/stocks/surya-roshni-ltd) SURYAROSNI · basing · Evidence leans down · 96% evidence 39.1 out of 100 Growth Capital Valuation Relative
13. Hi-Tech Pipes Ltd this page HITECH · basing · Most evidence points down · 96% evidence 34.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 61.2% · Profit -1.3% · Operating margin change -1.5 points · 88% evidence Capital efficiency 6.3/25 · ROCE 9.8% · Operating margin 3.5% · 100% evidence Valuation 12.6/20 · P/E 18.5× · PEG 1.17 · 100% evidence Relative strength 1.6/20 · Lead over its industry -23.7% · Lead over NIFTY 500 -15.1% · 1 year -40.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 13.9 + 6.3 + 12.6 + 1.6 = 34.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 14. [Welspun Specialty Solutions Ltd](https://www.sectoralpha.in/stocks/welspun-specialty-solutions-ltd) WELSPLSOL · losing its lead · Most evidence points down · 83% evidence 28.9 out of 100 Growth Capital Valuation Relative
15. [Rama Steel Tubes Ltd](https://www.sectoralpha.in/stocks/rama-steel-tubes-ltd) RAMASTEEL · quiet · Most evidence points down · 96% evidence 24.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Steel - Tubes/Pipes](https://www.sectoralpha.in/sectors/steel-tubes-pipes), all 15 compared on one page. ## Which companies are close to Hi-Tech Pipes in size? Hi-Tech Pipes is the 11th largest of 15 Steel - Tubes/Pipes companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: DEE Development Engineers, JTL Industries and Welspun Specialty Solutions. Just below it: Gandhi Special Tubes, Hariom Pipe Industries and Scoda Tubes. ### Steel - Tubes/Pipes companies close in size

1. [DEE Development Engineers Ltd](https://www.sectoralpha.in/stocks/dee-development-engineers-ltd) ₹3,818 crore
2. [JTL Industries Ltd](https://www.sectoralpha.in/stocks/jtl-industries-ltd) ₹2,915 crore
3. [Welspun Specialty Solutions Ltd](https://www.sectoralpha.in/stocks/welspun-specialty-solutions-ltd) ₹2,469 crore
4. Hi-Tech Pipes Ltd ₹1,390 crore
5. [Gandhi Special Tubes Ltd](https://www.sectoralpha.in/stocks/gandhi-special-tubes-ltd) ₹986 crore
6. [Hariom Pipe Industries Ltd](https://www.sectoralpha.in/stocks/hariom-pipe-industries-ltd) ₹964 crore
7. [Scoda Tubes Ltd](https://www.sectoralpha.in/stocks/scoda-tubes-ltd) ₹628 crore

[All 15 Steel - Tubes/Pipes companies, largest first](https://www.sectoralpha.in/sectors/steel-tubes-pipes#all-companies)

### Companies close in size in other industries

1. [MIRC Electronics Ltd](https://www.sectoralpha.in/stocks/mirc-electronics-ltd) ₹1,394 crore · Consumer Electronics
2. [Hindware Home Innovation Ltd](https://www.sectoralpha.in/stocks/hindware-home-innovation-ltd) ₹1,392 crore · Ceramics/Tiles/Sanitaryware
3. Hi-Tech Pipes Ltd ₹1,390 crore
4. [Allcargo Logistics Ltd](https://www.sectoralpha.in/stocks/allcargo-logistics-ltd) ₹1,387 crore · Logistics - Warehousing/Supply Chain
5. [Accelya Solutions India Ltd](https://www.sectoralpha.in/stocks/accelya-solutions-india-ltd) ₹1,386 crore · IT Product Companies

## What else do people ask about Hi-Tech Pipes? ### What is Hi-Tech Pipes's share price today? Hi-Tech Pipes Ltd's share price is ₹77.16, −27.4% over the past year. The whole company is worth ₹1,568 Cr on the market. In the last 52 weeks it traded between ₹64 to ₹107; today it is 31% of the way up from the low, 7.4% below its 200-day average (as of 4 November 2026). ### What were Hi-Tech Pipes's latest quarterly results? Hi-Tech Pipes Ltd reported revenue of ₹1,413 Cr and net profit of ₹20.0 Cr for the Jun 2026 quarter. Revenue rose 78.6% and profit fell 4.8% compared with a year earlier. Earnings per share were ₹0.99. The operating margin was 3.5%, 1.5 percentage points lower than a year earlier (as of 4 November 2026). ### What is Hi-Tech Pipes's market cap? Hi-Tech Pipes Ltd's market capitalisation is ₹1,568 Cr at a share price of ₹77.16. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Hi-Tech Pipes performing? Hi-Tech Pipes Ltd's share price has been falling for 47 weeks. In its latest quarter, revenue rose 78.6% and profit fell 4.8% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 20 weeks running (as of 4 November 2026). ### Will Hi-Tech Pipes's share price go up? This page does not forecast Hi-Tech Pipes Ltd's share price. What it shows instead: the share price is ₹77.16, and it has been falling for 47 weeks. Its P/E of 20.9× is higher than 45% of its own last 9 years (as of 4 November 2026). ### Where is Hi-Tech Pipes in its business cycle? Hi-Tech Pipes Ltd's FY26 operating margin was 4.1%, against a 11-year range of 4.1% to 6.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 3.5%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Hi-Tech Pipes story? The main question: yearly earnings per share moved +4.5% while the share price moved −27.4%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Hi-Tech Pipes a stock worth studying right now? What the numbers show: Hi-Tech Pipes Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Hi-Tech Pipes share price forecast for 2026? What management itself guided: FY27 sales volume 6.5-7 lakh tonnes and FY28 sales volume 1 million tonnes. ## Lists

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