Hi-Tech Pipes Ltd

Dematerialisation status

• No dematerialisation/rematerialisation requests were received during the quarter.

AGM Details

• Date and time: 28 September 2026, 11:45 A.M.
• Mode: VC/OAVM.
• End time: 12:50 P.M.
• Record date for entitlements: 21 September 2026.
• Cut-off date for voting entitlements: 21 September 2026.
• Deemed venue: Registered Office, New Delhi.

Key resolutions

• Resolution 01: Adoption of annual standalone and consolidated financial statements.
• Resolution 02: Reappointment of Kamleshwar Prasad as Whole Time Director.
• Resolution 03: Ratification of remuneration payable to Cost Auditor for 2026-27.

Voting outcomes

• Resolution 01 passed; 99.999% in favour, 0.0001% against.
• Resolution 02 passed; 99.998% in favour, 0.002% against.
• Resolution 03 passed; 99.998% in favour, 0.002% against.
• Abstentions: Quadrature Capital Vector SP Limited (100,729 shares) across all resolutions.

Dividend

• Dividend: No dividend proposed or declared.

Directors

• Kamleshwar Prasad reappointed as Whole Time Director.

Auditors

• Cost Auditor remuneration ratified for FY 2026-27.

Related party transactions

• No material related party transactions approved.

Other approvals

• No other material approvals disclosed.

AGM Details

• Date and time: 28 September 2026 at 11:45 IST, conducted via Video Conferencing.
• Notice convening AGM dated August 12, 2026.
• Annual Report for FY ended 31 March 2026 circulated electronically.
• Quorum met; meeting proceeded as scheduled.
• Two directors unable to attend due to unavoidable circumstances.

Attendance & Officers

• Total attendees: 175 members attended the meeting.
• Chairman and Managing Director presided over the proceedings.
• Other directors present: Anish Bansal; Neerja Kumar; Prashant Saxena; Vivek Goyal.
• CFO: Arvind Kumar Bansal; Company Secretary & Compliance Officer: Arun Kumar.
• Statutory Auditors present: Garg & Co.
• Scrutinizer: NSP & Associates (Company Secretaries).

Hi-Tech Pipes Ltd – Closure of Trading Window

Financial highlights

• Consolidated revenue from operations: ₹4,200 crore; up 37% YoY.
• Consolidated PAT: ₹76.16 crore; comprehensive income ₹76.58 crore.
• EBITDA per tonne: ₹3,260.
• Installed capacity crossed 1.05 MTPA.
• Sales volume: 532,437 MT in FY26.
• Value-added mix: 39% of revenue in FY26.
• QIP raised ₹500 crore; utilising ₹42.93 crore of net proceeds; ₹4.4 crore unutilised.
• CRISIL ratings reaffirmed: A+ (Long-term) / A1 (Short-term).
• Net worth: ₹1,333 crore; debt-to-equity 0.12x.

Operational performance & capacity expansion

• Installed capacity at 1.05 MTPA across 8 plants in 4 states.
• FY26 commissioning: Sanand Unit-II (1.2 lakh MTPA), Kathua (80k MTPA), Sikandrabad Unit-III (1.2 lakh MTPA).
• Three new facilities enable large-diameter ERW pipes, jumbo hollow sections, and value-added products.
• Sanand unit exports solar torque tubes to North America, Europe and Middle East.
• Value-added products comprise 39% of revenue, up from 26% three years ago.
• FY26 sales volume record supports expanded export opportunities and domestic infra demand.
• Target: reach 2 MTPA capacity by FY29 to align with India’s infrastructure push.

Capital structure & liquidity

• Total consolidated borrowings: ₹24,036.70 lakh; net debt ₹2,977 lakh; gearing 0.12x.
• Total equity (consolidated): ₹133,348.36 lakh (~₹1,333 crore).
• Dividend for FY26: not declared; prior year dividend paid at ₹0.025 per share.
• QIP proceeds raised ₹500 crore; utilised ₹429.29 crore for capex and debt repayment; ₹44 crore unutilised.
• CRISIL ratings reaffirmed; long-term A+/Stable, short-term A1.

Governance & controls

• Kamleshwar Prasad appointed Whole-Time Director (DIN 10438618) at the 42nd AGM.
• Board size: 7 directors; 3 Executive, 4 Independent; 5 meetings held in FY25-26.
• Statutory auditors: A.N. Garg & Co.; Secretarial auditors: NSP & Associates; No material qualifications reported.
• D&O Insurance renewed with Tata AIG.
• CSR committee actively oversees policy and implementation; compliance with regulator expectations.

Risks and outlook

• High raw material and energy cost volatility; Middle East tensions affect energy/logistics costs.
• Competitive landscape expanding capacity among peers; need to sustain premium, value-added offerings.
• Macro infrastructure pick-up and policy support remain positive for long-term steel piping demand.
• Group continues to monitor FX exposures; capex linked to capacity expansion and export orientation.

Dividends & capital allocation

• No dividend declared for FY26; dividend policy remains on record as per SEBI LODR requirements.
• Capital allocation prioritises capex and debt reduction; strong balance sheet supports aggressive expansion.

Financial performance

• Standalone revenue from operations: ₹3,442.8 Cr (FY26)
• Consolidated revenue from operations: ₹4,200.07 Cr (FY26)
• Standalone PAT: ₹64.16 Cr (FY26)
• Consolidated PAT: ₹76.16 Cr (FY26)
• Standalone PBT: ₹85.74 Cr (FY26)
• Standalone PAT margin approx. 1.9%

Capacity expansion & footprint

• Three plants commissioned in FY26: Sanand II (120k MTPA), Kathua (80k MTPA), Sikandrabad III (120k MTPA)
• Installed capacity crosses 1.05 million MTPA
• Manufacturing footprint spans 8 plants across UP, JK, Gujarat, AP, Maharashtra
• Total capacity and proximity enable large, time-bound order commitments

Products, innovations & mix

• Value-added product mix rose to 39% of revenue in FY26
• Launches: ZAM Pipe, Hi-Tech Firefighter, CRFH pipes, jumbo hollow sections
• Sanand unit exports solar torque tubes to North America, Europe, Middle East
• AP-grade pipe manufacturing enabled access to higher-margin segments

Market, customers & geographies

• Domestic footprint across 19 states; 550+ dealers; 150 OEM partners
• Export presence to select markets via Sanand hub and international projects
• Key customers include major industrial groups and infrastructure developers
• AGM planned for 28 Sep 2026 via VC/OAVM; remote e-voting facility offered

Governance & capital structure

• Board size 7; 4 independent directors; 1 woman director
• Kamleshwar Prasad appointed Whole-Time Director (FY26)
• Statutory auditor: A.N. Garg & Co; Secretarial: NSP & Associates
• Dividend not declared for FY26; dividend policy available on website

Outlook & risks

• Plan to reach 2 million MTPA capacity by FY29
• Growth driven by infra, renewables, and export opportunities
• Sustainability & green steel dynamics to influence procurement and pricing