Hi-Tech Pipes Ltd (BOM:543411)
₹ 162.25 2.3 (1.44%) Market Cap: 32.98 Bil Enterprise Value: 35.90 Bil PE Ratio: 43.06 PB Ratio: 3.76 GF Score: 82/100
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Q2 2023 Hi-Tech Pipes Ltd Earnings Call Transcript

Nov 14, 2022 / 12:30PM GMT
Release Date Price: ₹65.06 (-1.83%)
Anish Bansal
Hi-Tech Pipes Limited - Whole-Time Director

Good evening, and welcome, everyone, for our Q2 H1 FY23 earnings conference call. I'm joined on the call by Mr. Santosh Rai, Head of Finance; and Mr. Arun Sharma, the Secretary and Compliance Officer of the company. I hope everyone has had a chance to go through our results and updated investor presentation uploaded on the exchange.

During this quarter, the company is able to register a 30% Y-o-Y growth in sales to INR599 crores against INR462 crores in Q2 FY22. And registered a record and highest sales volume of 85,500 tonnes, which is almost 33% growth. This is mainly due to better capacity utilization and improved sales utilization. The EBITDA per tonne for the quarter declined by 26% to INR2,760 versus INR3,742 in Q2 FY22.

Net debt of the company has reduced by INR33 crores. Net working capital days reduced substantially to 50 days as compared to 67 days in FY22. However, the profitability for the quarter remains in pressure due to onetime provisioning of expected credit loss on an OEM customer and declining trend in HR coil

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