Pipe Companies

Supreme Ind stock dips on weak Q2; brokerages lower earnings estimates

PVC resin saw a 19 per cent rise during the June quarter, which was followed by a 17 per cent fall in July and August

Hi-Tech Pipes announces scale up plans, aims 1 mn tonne production by FY25

Hi-Tech Pipes on Monday announced plans to scale up its annual production capacity to 10 lakh tonne by 2024-25. At present, the company has five manufacturing units with an installed capacity of 5.80 lakh tonne per annum. "Hi-Tech Pipes Ltd aims for 1 million tonnes capacity by FY25," the company said in a statement. It also announced commissioning of its Sanand unit-II Phase-1 at Gujarat and establishment of new greenfield unit-III at Sikandrabad (UP) and Sanand Unit-II Phase-2. With the latest manufacturing technology and equipment, the company's focus will be on manufacturing of value-added products with proportion in excess of 50 per cent, Hi-Tech Pipes Ltd Chairman & Managing Director Ajay Kumar Bansal said. The Sanand Unit-ll project is equipped for manufacturing of high-end pipes for solar trackers. The company's manufacturing plants are spread across Uttar Pradesh, Andhra Pradesh, Gujarat, and Maharashtra.

Steel pipe maker JTL Industries net profit rises to over Rs 30 cr in Q3

Steel pipes maker JTL Industries Ltd on Friday reported a 47 per cent rise in its net profit at Rs 30.18 crore in the third quarter ended December 31. It had posted a profit of Rs 20.49 crore in the October-December period of preceding 2022-23 fiscal, the company said in an exchange filing. Its total income rose to Rs 568.33 crore from Rs 344.42 crore in the year-ago quarter. Expenses were at Rs 527.99 crore as against Rs 316.70 crore a year-ago. The company's net profit in the April-December period increased to Rs 83.46 crore from Rs 53.47 crore in the year-ago period, the filing said. JTL Industries is a leading producer of electric resistance welded steel pipes with a production capacity of more than 6 lakh metric tonnes per year.

Venus Pipes rallies 7% to hit record high as Ashish Kacholia buys 2% stake

On April 11, 2023, Ashish Rameshchandra Kacholia bought 4 lakh equity shares, which represented 1.98 per cent stake of Venus Pipes at Rs 750 per share via block deal

Recovery in pipeline for pipe makers with price correction down the tubes

Margins to expand, given demand recovery in key segments and falling input costs

Near term margins may remain subdued for Astral, high valuation weighs

The company underperformed peers on the volume front in Q2, though margin impact was lower given value-added mix

Near term margins may remain subdued for plastic pipe maker Astral

It underperformed peers on the volume front in Q2, though margin impact was lower given value-added mix

Stock of this SS pipes producer has zoomed 100% against its issue price

With Wednesday's gain, the stock of Venus Pipes has zoomed nearly 100 per cent against its issue price of Rs 326 per share

Hariom Pipe Industries gets Sebi's go ahead to raise funds via IPO

Hariom Pipe Industries has received capital markets regulator Sebi's go ahead to raise Rs 100-120 crore through an initial public offering.

Hariom Pipe Industries files IPO paperwork to raise Rs 100-120 crore

Net proceeds from the initial share sale will be used to fund its capital expenditure, working capital requirements and towards expenses for general corporate purposes.

Pipe makers face margin pressure; may underperform in the near term

While the sector has grown at 10% over the last five years till FY21, it is expected to grow at a faster pace of 12% until FY25

Astral Poly jumps 5% on fixing record date for 1:3 bonus share issue

The company has fixed March 19 as the record date for the 1:3 bonus share issue

Revival in realty, industrial segment to support Supreme Industries' stock

Strong demand for plastic pipes, higher value-add mix drive earnings upgrade

Tata Metaliks third quarter net profit up 55 per cent to Rs 75 crore

Higher margins boosted the pig iron and ductile pipe maker

Volume worries for plastic pipe makers, but long-term growth story intact

Organised players to score market share gains over unorganised peers

Are pipe companies a good investment idea?

On a year-to-date (YTD) basis, Astral Poly Technik has risen 2.30 per cent, while Finolex and Supreme Industries have fallen 23 per cent and 0.24 per cent, respectively.