Hi-Tech Pipes Limited (HITECH.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-511.5%

-₹306.47

vs ₹74.47 price

Levered DCF

-₹330.37

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.81×	26.4×	44.34×	26.18×	14.91×	19×	3.84×	9.58×
P/B	1.07×	1.48×	3.38×	2.36×	2.33×	2.31×	0.5×	1.78×
P/S	0.34×	0.61×	0.72×	0.41×	0.32×	0.35×	0.07×	0.19×
EV / EBITDA	9.3×	11.48×	20.87×	12.7×	10.17×	11.7×	6.88×	7.23×
Gross margin	5.8%	7.5%	8.8%	8.9%	6.9%	9.6%	9.3%	9.0%
Operating margin	3.5%	4.5%	7.5%	3.7%	4.8%	4.6%	4.2%	5.0%
Net margin	1.8%	2.4%	1.6%	1.6%	2.1%	1.7%	1.7%	2.0%
Current ratio	2.17×	2.38×	1.54×	1.46×	1.43×	1.37×	1.23×	1.2×
Debt / equity	0.2×	0.14×	0.7×	0.65×	1.52×	1.54×	1.8×	1.85×
Interest coverage	3.08×	3.23×	4.85×	2.5×	2.46×	1.9×	1.7×	2.27×
Dividend yield	0.0%	0.0%	0.0%	0.1%	0.0%	0.1%	0.4%	0.1%
Payout ratio	0.6%	0.5%	0.7%	1.6%	0.0%	1.2%	1.6%	1.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.7%	5.8%	7.6%	9.0%	15.6%	11.1%	11.7%	18.6%
Return on invested capital	6.7%	7.0%	15.1%	9.4%	9.9%	8.4%	8.8%	10.5%
Return on assets	3.8%	4.2%	3.7%	4.1%	5.2%	3.8%	3.6%	5.4%
Free cash flow yield	-14.9%	-8.7%	-10.5%	6.5%	-7.9%	4.9%	-13.0%	6.1%
Earnings yield	5.3%	3.9%	2.3%	3.8%	6.7%	4.8%	23.7%	10.4%
Enterprise value	₹16.1B	₹18.6B	₹23.5B	₹12.6B	₹9.9B	₹7.9B	₹4B	₹5.3B
Net debt / EBITDA	1.04×	-0.02×	3.55×	2.74×	4.01×	4.68×	5.39×	3.68×
Cash conversion cycle (days)	57	53	66	51	71	75	82	64