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Last Updated on: 19 June, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 543411 | NSE: HITECH

Fundamental Analysis of Hi-Tech Pipes Ltd

Basic Stock Data of Hi-Tech Pipes Ltd

Last Updated: June 17, 2024, 8:31 pm

Market Cap 1,880 Cr.
Current Price 131
High / Low170/71.0
Stock P/E55.4
Book Value 34.4
Dividend Yield0.02 %
ROCE12.3 %
ROE8.52 %
Face Value 1.00
PEG Ratio2.81

Competitors of Hi-Tech Pipes Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Crimson Metal Engineering Company Ltd 3.96 Cr. 8.948.95/8.94 12.30.00 %7.27 %21.7 % 10.0
Prakash Steelage Ltd 159 Cr. 9.1116.6/4.256.82 0.440.00 %%% 1.00
Surya Roshni Ltd 6,764 Cr. 622842/36420.5 1990.95 %21.0 %16.3 % 5.00
Jindal Saw Ltd 17,930 Cr. 561598/22811.2 3160.71 %21.4 %17.7 % 2.00
Rama Steel Tubes Ltd 1,766 Cr. 11.916.8/9.9060.6 2.260.00 %12.7 %10.4 % 1.00
Industry Average7,500.77 Cr660.11108.59162.410.38%14.35%13.36%4.56

Hi-Tech Pipes Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales329302305373350484407457444553520603518
Expenses312288290355332460394438424525504582493
Operating Profit17141518172413181928162125
OPM %5%5%5%5%5%5%3%4%4%5%3%4%5%
Other Income0000011-600010
Interest77566107666576
Depreciation2222222235223
Profit before tax9691091354111791216
Tax %26%22%25%27%27%29%26%25%25%21%25%25%24%
Net Profit657879438147912
EPS in Rs0.580.410.570.630.540.740.290.270.681.070.500.700.88

Last Updated: June 7, 2024, 8:53 am

Hi-Tech Pipes Ltd Quarterly Chart

Hi-Tech Pipes Ltd Profit & Loss - Annual Report

Last Updated: May 28, 2024, 10:17 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3493703834585045918221,1189671,0261,5121,8612,195
Expenses3333523644334725557761,0639239751,4381,7822,105
Operating Profit16171925323646544451747990
OPM %5%5%5%6%6%6%6%5%5%5%5%4%4%
Other Income10111321111-52
Interest11121215172023232425272525
Depreciation333466345771112
Profit before tax3348101321291620413854
Tax %35%34%36%34%35%33%32%36%14%25%27%23%
Net Profit22356915181415302941
EPS in Rs4.154.400.821.310.630.851.411.701.281.342.432.263.15
Dividend Payout %-0%-0%-0%8%8%3%2%1%2%-0%2%1%

Hi-Tech Pipes Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)0.00%50.00%66.67%20.00%50.00%66.67%20.00%-22.22%7.14%100.00%-3.33%
Change in YoY Net Profit Growth (%)0.00%50.00%16.67%-46.67%30.00%16.67%-46.67%-42.22%29.37%92.86%-103.33%

Hi-Tech Pipes Ltd Growth

Compounded Sales Growth
10 Years:18%
5 Years:18%
3 Years:24%
TTM:23%
Compounded Profit Growth
10 Years:32%
5 Years:18%
3 Years:34%
TTM:39%
Stock Price CAGR
10 Years:%
5 Years:38%
3 Years:54%
1 Year:81%
Return on Equity
10 Years:13%
5 Years:13%
3 Years:13%
Last Year:14%

Last Updated: April 17, 2024, 1:40 pm

Hi-Tech Pipes Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital0034101010111111121313
Reserves28303344566587113139158204268386
Borrowings8195113111142151188189239212259180224
Other Liabilities66647657719270837372106279187
Total Liabilities175189225215279317355396463453581740810
Fixed Assets25272943556796129134145180226224
CWIP4578731222129283467
Investments0000033333355
Other Assets146157189164218245245261304275370475513
Total Assets175189225215279317355396463453581740810

Hi-Tech Pipes Ltd Reserves and Borrowings Chart

Hi-Tech Pipes Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 22-226139552376756
Cash from Investing Activity -10-6-8-19-19-28-34-31-31-27-41-85
Cash from Financing Activity 8411-723-1229-2028-493530
Net Cash Flow00115-2-00-0-001

Hi-Tech Pipes Ltd Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-65.00-78.00-94.00-86.00-110.00-115.00-142.00-135.00-195.00-161.00-185.00-101.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Hi-Tech Pipes Ltd Free Cash Flow Chart

Hi-Tech Pipes Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days576842494835314330302939
Inventory Days697962858161435854485448
Days Payable515436313717212319213322
Cash Conversion Cycle7694681029278537865584966
Working Capital Days869980988074537762554563
ROCE %13%12%14%15%15%17%17%12%12%16%15%

Hi-Tech Pipes Ltd Financial Efficiency Indicators Chart

Hi-Tech Pipes Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024
Promoters60.95%59.55%59.19%59.31%59.32%59.32%59.32%56.87%55.58%55.27%55.63%53.20%
FIIs0.00%0.00%0.01%0.01%0.01%0.01%0.57%1.06%0.81%0.34%0.08%0.32%
DIIs0.42%0.01%0.00%0.00%0.16%0.16%0.00%5.08%4.97%4.82%7.45%10.40%
Public38.62%40.45%40.81%40.69%40.51%40.51%40.12%36.97%38.65%39.57%36.84%36.08%
No. of Shareholders3,1626,5325,8635,6645,6515,6525,7059,07619,01029,57539,28339,136

Hi-Tech Pipes Ltd Shareholding Pattern Chart

No. of Hi-Tech Pipes Ltd Shareholders

Hi-Tech Pipes Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HSBC Small Cap Fund - Regular Plan2,700,0000.2839.342,700,0002024-06-170%
Bandhan Core Equity Fund2,600,0001.0237.882,700,0002024-06-17-3.7%
Bandhan Infrastructure Fund400,0000.65.832,700,0002024-06-17-85.19%
Bandhan Midcap Fund300,0000.424.372,700,0002024-06-17-88.89%

Hi-Tech Pipes Ltd ROCE Trend

Hi-Tech Pipes Ltd EPS Trend

Hi-Tech Pipes Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.0010.0010.0010.00
Basic EPS (Rs.)3.303.0633.7720.8518.85
Diluted EPS (Rs.)2.732.1833.7018.9618.85
Cash EPS (Rs.)3.964.0340.7427.7724.67
Book Value[Excl.RevalReserv]/Share (Rs.)38.4532.71210.75183.11158.89
Book Value[Incl.RevalReserv]/Share (Rs.)38.4532.71210.75183.11158.89
Revenue From Operations / Share (Rs.)180.09186.671531.121196.341107.09
PBDIT / Share (Rs.)7.748.2582.6863.8955.35
PBIT / Share (Rs.)6.717.1774.8056.4749.33
PBT / Share (Rs.)3.923.9045.0827.6621.84
Net Profit / Share (Rs.)2.932.9532.8620.3518.66
NP After MI And SOA / Share (Rs.)2.932.9532.8620.3518.66
PBDIT Margin (%)4.294.425.395.344.99
PBIT Margin (%)3.723.844.884.714.45
PBT Margin (%)2.172.092.942.311.97
Net Profit Margin (%)1.621.572.141.701.68
NP After MI And SOA Margin (%)1.621.572.141.701.68
Return on Networth / Equity (%)7.629.0115.5911.1111.74
Return on Capital Employeed (%)14.1017.0521.5518.7019.51
Return On Assets (%)3.724.115.243.803.59
Long Term Debt / Equity (X)0.180.220.560.560.51
Total Debt / Equity (X)0.630.561.411.441.70
Asset Turnover Ratio (%)2.582.832.752.012.00
Current Ratio (X)1.541.461.431.371.23
Quick Ratio (X)0.790.640.670.640.61
Inventory Turnover Ratio (X)6.907.387.755.816.05
Dividend Payout Ratio (NP) (%)0.001.620.001.190.00
Dividend Payout Ratio (CP) (%)0.001.190.000.870.00
Earning Retention Ratio (%)0.0098.380.0098.810.00
Cash Earning Retention Ratio (%)0.0098.810.0099.130.00
Interest Coverage Ratio (X)2.772.992.782.222.01
Interest Coverage Ratio (Post Tax) (X)2.052.252.111.711.68
Enterprise Value (Cr.)2432.211240.90964.17723.22355.43
EV / Net Operating Revenue (X)0.900.520.510.530.29
EV / EBITDA (X)20.9611.779.5010.105.88
MarketCap / Net Operating Revenue (X)0.770.430.320.330.06
Retention Ratios (%)0.0098.370.0098.800.00
Price / BV (X)3.632.462.382.170.45
Price / Net Operating Revenue (X)0.770.430.320.330.06
EarningsYield0.020.030.060.050.25

Hi-Tech Pipes Ltd Profitability Ratios (%)

Hi-Tech Pipes Ltd Liquidity Ratios

Hi-Tech Pipes Ltd Liquidity Ratios (%)

Hi-Tech Pipes Ltd Interest Coverage Ratios (%)

Hi-Tech Pipes Ltd Valuation Ratios

Fair Value

Fair Value: 162.40

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 23.97% compared to the current price 131

Intrinsic Value: 194.45

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 48.44% compared to the current price ₹131

Last 5 Year EPS CAGR: 19.73%

*Investments are subject to market risks

Strength and Weakness of Hi-Tech Pipes Ltd Stock

StrengthWeakness
  1. The company has shown consistent growth in sales (342.31 cr) and profit (20.00 cr) over the years.
  1. The stock has a low average ROCE of 13.17%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 72.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 73.25, which may not be favorable.
  4. The company has higher borrowings (168.00) compared to reserves (123.92), which may suggest financial risk.

Should I Buy Hi-Tech Pipes Ltd Share Now?

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Hi-Tech Pipes Ltd:
    1. Net Profit Margin: 1.62%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 14.10% (Industry Average ROCE: 11.48%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 7.62% (Industry Average ROE: 9.98%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.05
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.79
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 55.4 (Industry average Stock P/E: 176.94)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.63
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Hi-Tech Pipes Ltd

Hi-Tech Pipes Ltd. is a Public Limited Listed company incorporated on 02/01/1985 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L27202DL1985PLC019750 and registration number is 019750. Currently Company is involved in the business activities of Manufacture of tubes, pipes and hollow profiles and of tube or pipe fittings of cast-iron/cast-steel. Company’s Total Operating Revenue is Rs. 1511.89 Cr. and Equity Capital is Rs. 12.27 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Steel - Tubes/PipesNo.505, Pearl Omaxe Tower, Netaji Subhash Place, New Delhi Delhi 110034info@hitechpipes.in
http://www.hitechpipes.in
Management
NamePosition Held
Mr. Ajay Kumar BansalChairman & Managing Director
Mr. Anish BansalWhole Time Director
Mr. Vivek GoyalInd. Non-Executive Director
Mr. Prashant Kumar SaxenaInd. Non-Executive Director
Mrs. Neerja KumarInd. Non-Executive Woman Director
Mr. Mukesh Kumar GargInd. Non-Executive Director

FAQ

What is the latest fair value of Hi-Tech Pipes Ltd?

The latest fair value of Hi-Tech Pipes Ltd is ₹162.40.

What is the Market Cap of Hi-Tech Pipes Ltd?

The Market Cap of Hi-Tech Pipes Ltd is 1,880 Cr..

What is the current Stock Price of Hi-Tech Pipes Ltd as on 19 June 2024?

The current stock price of Hi-Tech Pipes Ltd as on 19 June 2024 is ₹131.

What is the High / Low of Hi-Tech Pipes Ltd stocks in FY 2024?

In FY 2024, the High / Low of Hi-Tech Pipes Ltd stocks is 170/71.0.

What is the Stock P/E of Hi-Tech Pipes Ltd?

The Stock P/E of Hi-Tech Pipes Ltd is 55.4.

What is the Book Value of Hi-Tech Pipes Ltd?

The Book Value of Hi-Tech Pipes Ltd is 34.4.

What is the Dividend Yield of Hi-Tech Pipes Ltd?

The Dividend Yield of Hi-Tech Pipes Ltd is 0.02 %.

What is the ROCE of Hi-Tech Pipes Ltd?

The ROCE of Hi-Tech Pipes Ltd is 12.3 %.

What is the ROE of Hi-Tech Pipes Ltd?

The ROE of Hi-Tech Pipes Ltd is 8.52 %.

What is the Face Value of Hi-Tech Pipes Ltd?

The Face Value of Hi-Tech Pipes Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hi-Tech Pipes Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE