Hi-Tech Pipes Q1 FY27 Earnings Call — Analysis (NSE: HITECH)
Hi-Tech Pipes reported 79% YoY revenue growth and 26% YoY volume growth in Q1FY27, but PAT stayed flat at ₹20 Cr as elevated gas costs and initial rebates on newly commissioned capacity capped EBITDA per ton near ₹3,162.
Result quality: watch — Margin pressure. Management sentiment: neutral.
The take
Q1FY27 Revenue ₹1,413 Cr ( +79% YoY ) .
Results
Revenue rose 79% YoY to ₹1,413 Cr; EBITDA rose 20% YoY to ₹49.37 Cr; PAT was ₹20 Cr vs ₹20.92 Cr; sales volume grew 26% YoY to 1,56,136 MT and EBITDA per ton improved marginally to ₹3,162 from ₹3,148 in Q4 FY26.
Financial highlights
| Metric | Value | Change | Basis |
|---|---|---|---|
| Revenue | ₹1,413 Cr | +79% | yoy · Q1FY27 · ₹791 Cr in Q1FY26 |
| EBITDA | ₹49.37 Cr | +20% | yoy · Q1FY27 · ₹41 Cr in Q1FY26 |
| Profit after tax | ₹20 Cr | −₹20 Cr vs ₹20.92 Cr | yoy · Q1FY27 · ₹20.92 Cr in Q1FY26 |
| Sales volume | 1,56,136 MT | +26% | yoy · Q1FY27 · 124,000 MT in Q1FY26 |
| EBITDA per ton | ₹3,162 per ton | +₹3,162 vs ₹3,148 | qoq · Q1FY27 |
Guidance
Management guided FY27 sales volume of 6.5–7 lakh tons, FY28 volume of 1 million tons, and reiterated 2 million tons capacity by FY29.
Key themes
Capacity expansion and value-added mix shift
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