Hi-Tech Pipes achieved growth of 45 per cent in Q4 of FY 2018-19
New Delhi: Hi-Tech pipes Limited, a leading steel processing company in India, recorded its highest-ever sales volume in the financial year of 2018-19.
Hi-Tech Pipes Limited, incorporated in 1985, provides world-class innovative products for nearly three decades with a presence in steel pipes, hollow section tubes, cold rolled coils & strips, road crash barriers and a variety of other galvanised products.
In the just-ended financial year 2018-19, Hi-Tech Pipes crossed sales volume of 2,69,000 metric tonnes to achieve a growth of 19 per cent. The same in the financial year 2017-18 stood at 2,26,044 metric tonnes.
In the just-ended final quarter of the financial year 2018-19, the company has achieved a growth of 45 per cent by crossing the sales volume of 80,000 metric tonnes in this quarter.
Commenting upon the Volume Growth, Mr Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes Ltd., said, "The Company is continuing its journey of success quarter after quarter and achieved volume growth of 45% in Q4 FY 19. During this quarter volume of Galvanised Tubes & of Pre-Galvanised Tubes has increased significantly. In the financial year 2018-19 also the volume of Galvanised Tubes and volume of Pre Galvanised Tubes has increased significantly."
"Now, prices of steel has stabilised and after formation of new government in the country, it is expected that growth of infrastructure will be at its highest pace. We are confident the story of excellent performance in all the fronts will continue in FY 2020 as well," Mr Bansal concluded.
Hi-Tech Pipes has state of the art integrated manufacturing facilities at Sikandarabad, Sanand (Gujarat) and at Hindupur near Bengaluru with a total installed capacity of 4,25,000 MTPA on a consolidated basis. The Company has a direct marketing presence in over 17 states with more than 300 plus distributors across India.