Hi-Tech Pipes Reports 35% Sales Growth and 2.3x Profit Surge in Q1 FY24

1) Hi-Tech Pipes Limited

• Business Overview – Hi-Tech Pipes is a top Indian steel pipe manufacturer, with products used across sectors such as infrastructure, construction, and defense. It operates 12 brands, including Alshakti, Shakti, and Bahubali, and has a presence in over 5,000 retail stores. The company has 500+ dealers and distributors network. Its products are available across 19 states with 160+ OEMs customers.
• Recent Filings – The company announced its results for the quarter ending June 2024, reporting a 35% year-over-year increase in sales from INR 642 crore in June 2023 to INR 867 crore in June 2024. Net profit increased 2.3 times, from INR 8 crore to INR 18 crore. Compared to the previous quarter, sales rose by 27%, and net profit increased by 64%.
• Future Outlook –
  • The company plans to sustain its market share and boost production capacity by 20-25% each year.
  • Management anticipates a rise in EBITDA per ton for FY ’25, aiming for INR 4,000 per ton.
  • The path to achieving a million-ton capacity is projected to commence by the end of FY ’25, with the goal of reaching 1 million tons by that time.
• 2Y Price Chart since listing –

2) Gensol Engineering Limited

• Business Overview – GEL is involved in the business of solar consulting & EPC. It has established an EV manufacturing facility in Pune, India, for the development and production of electric three wheelers and four wheelers. Alongside, It offers comprehensive EV leasing solutions and is serving leading ride-hailing players with its buy-and-lease package of EV cars. Its 60% of the revenue is generated from North America, 26% from India, 9% Europe and 3% from rest of the world.
• Recent Filings – For the quarter ending Jun-24, Sales up 2x YoY from INR 145 Cr in Jun-23 to INR 295 Cr in Jun-24. Similarly, Net Profit up 50% from INR 10 Cr to INR 15 Cr. On a QoQ basis, Sales down 26% and Net Profit down 25%.(FUND RAISE) Board has approved the raising of funds for an amount not exceeding INR 500 Cr.
• Recent Outlook –
  • Projected revenue guidance for FY25 is ₹2,000 crores, approximately 2x growth from FY24.
  • Aim to maintain consolidated EBITDA margins at 25%-26%.
  • Expecting growth in the EV leasing business and EV manufacturing ventures.
  • •Strong order pipeline and focus on expanding into battery energy storage systems.
• 1Y Price Chart –

3) Advait Infratech Limited

• Business Overview – Advait Infratech Ltd is engaged in the business of providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. It operates with various verticals such as Turnkey Telecommunication Projects, Installation of the Power Transmission, Sub Station and Telecom Products, etc. The company generates 100% of its revenue within India and doesn’t export to other countries.
• Recent Filings – Company has declared its financial results for the quarter ended June 2024, with a significant growth in Profit after Tax (PAT) for the half-yearly period, which has increased by 155.33% year on year. This is a very positive trend for the company. Additionally, the Net Sales for the half-yearly period have also shown a growth of 74.97% year on year, indicating a strong sales performance in the near term.
• Future Outlook –
  • Company plans to expand its electrolyzer manufacturing capacity to 200 MW per year by 2025.
  • The company has been proactive in raising funds, issuing 5.9 lakh shares at INR 1388 per share, totaling INR 82.3 crore. This capital infusion, subscribed by prominent investors like Ashish Kacholia, is expected to support further growth and expansion.
• 2Y Price Chart –

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