Corporate Feature     

Published: July 15, 2024
Updated: July 15, 2024

Hi-tech Steel Pipes Ltd.

Honored as highest tax payer in Bulandshahr district, (UP)

Hi-Tech Pipes Limited (NSE: HITECH, BSE: 543411), one of the leading Steel Pipes companies in India, has been recognized as the highest taxpayer (Bhama shah Award) for FY2023-24 in Bulandshahr District by the Department of Commercial Taxes Uttar Pradesh.

Mr. Ajay Kumar Bansal, Chairman & Managing Director, Hi-Tech Pipes Ltd. Said, “We are honored to receive this award, which reflects our dedication to responsible business practices and our commitment to supporting the development of our Nation. We appreciate the recognition by Department of Commercial Taxes U.P. and will continue to uphold the highest standards of compliance and transparency.”

Earlier, the company had reported its earnings for the quarter and year ended 31 March 2024, and said that In spite of challenging environment due to steep reduction of steel prices, during the quarter the company has achieved highest ever volume of 1.07 lakh mt and yearly volume of 3.91 lakh tonnes. This further establishes the leadership & branding position of the company. Hi-Tech Pipes is moving towards achievement of vision of One Million Ton bit by bit. Now the installed capacity of the company has increased from 5,80,000 mt to 7,50,000 mt by commencement of commercial production of its green field project at Sanand (Unit — II) with installed capacity of 1,70,000 mt with size range from 15 nb to 400 nb. Further construction activities at Sikanderabad (Unit — Ill) with installed capacity of 150,000 mt is going in full swing and will be commenced within this financial year. In order to increase capacity utilisation the company is further strengthening its sales & marketing team and undertaking many branding activities including wall painting, retailers board, social media, retailer & fabricators meetings etc.

One of India’s leading steel processing companies, providing world class innovative products for nearly Four decades with a strong presence in steel pipes, hollow sections, tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, color coated coils and a variety of other galvanized products. The company operates six(6) stateof-the-art integrated manufacturing facilities located at Sikandrabad (UP), Sanand (Gujarat), Hindupur (AP) - near Bangalore, and Khopoli (Maharashtra), with an installed capacity of 7,50,000 MTPA, on a consolidated basis. The company has direct marketing presence in over 20 states with more than 450+ dealers & distributors across India.