Hi-Tech Pipes Limited (NSE: HITECH and BSE Scrip Code:543411), one of the leading steel processing companies in India, has announced its Sales Volume Performance for the Quarter and Financial Year Ended March 31, 2023.
- Recorded Highest ever Sales volumes of 1,07,237 MT in Q4 FY23vs. 85,045 MT inQ4FY22, a growth of 26% YoY
- Recorded Highest ever Sales volumes of 3,54,032 MT in FY23 vs. 2,76,600 MT in FY22,a growth of 28% YoY
- 18% growth on QoQ from the sales volume of 91,232 MT in Q3 FY23.
- The share of Value Added product has increased from 24.7% in FY22 to 28.2% in FY23
Commenting on the performance, Mr. Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd. Said, "We are really happy to share our business performance for the quarter and financial year ended 31st March 2023. This quarter recorded the highest ever quarterly sales Volume of 1,07,237 MT. This was supported by our continuous focus on adding value added products to our portfolio. Our newly Launched product color coated coils "Hitech ColorStar" is well accepted in the market and in line of our expectations we are getting very good response for this product.
The increasing sales volume is an indication of the trust placed by the customers in Hi-Tech's high quality and diversified product ranges which further cements our position in the industry.
To cater to impending demand, we are 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 our presence across the nation."
Shares of Hi-Tech Pipes Limited was last trading in BSE at Rs. 66.53 as compared to the previous close of Rs. 65.95. The total number of shares traded during the day was 223448 in over 1861 trades.
The stock hit an intraday high of Rs. 67.40 and intraday low of 65.91. The net turnover during the day was Rs. 14913956.00.