This article first appeared on GuruFocus .

• Q4 FY26 Revenue:INR1,480 crores, up 100% from INR734 crores in Q4 FY25.

• FY26 Revenue:INR4,200 crores, a 37% increase from INR3,067 crores in FY25.

• Q4 FY26 Sales Volume:1.47 lakh tons, a 27% increase from 1.16 lakh tons in Q4 FY25.

• FY26 Sales Volume:5.32 lakh tons, up from 4.85 lakh tons in FY25.

• Q4 FY26 Total Comprehensive Income:INR18 crores, compared to INR17.5 crores in Q4 FY25.

• FY26 Total Comprehensive Income:INR77 crores, a 5% increase from INR73 crores in FY25.

• Q4 FY26 EBITDA:INR46 crores, a 33% increase from INR35 crores in Q4 FY25.

• FY26 EBITDA:INR174 crores, up 8% from INR160 crores in FY25.

• Q4 FY26 EBITDA per Ton:Improved by 5% to INR3,150 per ton from INR3,000 per ton in Q4 FY25.

• FY26 Current Ratio:2.17 times.

• FY26 Debt-Equity Ratio:0.18, compared to 0.15 in FY25.

• Value-Added Products Contribution:39% of the overall business mix.

• Warning! GuruFocus has detected 5 Warning Signs with NSE:HITECH.

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Release Date: May 28, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Positive Points

• Hi-Tech Pipes Ltd ( NSE:HITECH ) reported a 27% year-on-year growth in sales volume for Q4 FY26, indicating strong demand and market penetration.

• The company achieved a 100% increase in revenue for Q4 FY26 compared to the previous year, showcasing significant financial growth.

• EBITDA for Q4 FY26 increased by 33%, reflecting improved operational efficiency and profitability.

• The company maintains a healthy balance sheet with a current ratio of 2.17 and a comfortable debt-equity ratio of 0.18, providing financial flexibility for future expansion.

• Hi-Tech Pipes Ltd ( NSE:HITECH ) is expanding its capacity with plans to achieve 2 million tons by FY29, enhancing long-term growth potential.

Negative Points

• The company faced challenges with rising energy input costs and higher overseas ocean freight rates, impacting profitability.

• Volatile gas prices and intermittent availability issues posed challenges in the last quarter of FY26.

• The debt-equity ratio increased slightly from 0.15 in FY25 to 0.18 in FY26, indicating a rise in leverage.

• The company experienced temporary pressures on input costs and export utilizations due to elevated ocean freight costs.

• There was an increase in the cost of stock in trade, which affected gross margins and profitability compared to peers.

Q & A Highlights

Q: Can you explain the purpose of the INR90 crores preferential issue to the promoter group and how it will benefit the company? A: The preferential issue of INR90 crores is part of our expansion plan to increase capacity from 1 million tonnes to 2 million tonnes. The funds will be used to meet the working capital requirements associated with this expansion. - Anish Bansal, Whole-Time Director