Hi-Tech Pipes Limited (NSE: HITECH) Q3 2026 Earnings Call dated Feb. 07, 2026
Corporate Participants:
Mr. Anish Bansal — Whole-Time Director
Mr. Arvind Bansal — Executive Director,Chief Financial Officer
Analysts:
Unidentified Participant
Sucrit Patil — Analyst
Lokesh Kashikar — Analyst
Akshay Shetty — Analyst
Aniket Madhwani — Analyst
Presentation:
operator
Ladies and Gentlemen, good day and welcome to Q3FY26 earnings conference call hosted by High Tech Pipes Limited. As a reminder, all participant lines will be in the Listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your Touchstone phone. Please note that this. Ladies and gentlemen, good day and welcome to Q3FY26 earnings conference call hosted by High Tech Pipes Limited. As a reminder, all participant lines will be in the Listen only mode and there will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your Touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anish Bansal, whole time director from HitechSpype Limited. Thank you and over to you Mr. Anish Bansal.
Mr. Anish Bansal — Whole-Time Director
Good afternoon everyone and thank you for joining us on the Q3FY26 earnings conference call of High Tech Pipes Limited. I’m joined today by Mr. Arvind Bansal, Executive Director and Group CFO and Mr. Arun Sharma, Company Secretary and Compliance Officer. Let me begin with a detailed overview of our financial and operational performance for the quarter ended Q3FY26. The third quarter of FY26 marked significant milestone for the company as we delivered our highest ever quarterly performance across key operational metrics. During the quarter, revenue from operations grew by a robust 40% year on year to 1070 crores compared to 761 crores in Q3FY25.
This strong growth was supported by our highest ever quarterly sales volume of 1:36,000 tonnes reflecting a 10% increase over 1:24 tons in the corresponding quarter last year. This performance was driven by a combination of higher volumes, timely execution of large infrastructure and institutional projects, improved product mix, deeper market penetration and continued expansion of a value added product portfolio. EBITDA for the quarter stood at 42 crores resisting a 4% year on year increase from 40 crores in Q3FY25. However, profitability during the quarter was a little impacted with property after tax declining by 9% year on year to 17 crores compared to 19 crores in the same period last year.
I would like to clarify that the decline in property was primarily attributable to a sharp correction in hot oil coal prices driven by an influx of cheaper imports which exerted pressure on spreads across the industry. Importantly, this trend has reversed following the government’s introduction of a 12% safeguard duty on 30th December 2025 which helped in stabilizing the domestic seal prices, restoring pricing discipline and margin improvement. Now coming to 9 month performance of FY26 moving to the 9 month performance, revenue from operations for 9 month FY26 increased to 2,720 crores representing a 17% year on year growth compared to 2,333 crores in 9 months.
After 25 period. EBITDA for the 9 months stood at 127 crores compared to 125 crores in the corresponding period last year reflecting stable operational performance despite price volatility and margin pressure during parts of the year. Capacity Expansion and Operational Updates despite the short term challenges, we have remained focused on building long term capacity and improving operating leverage and strengthening profitability. I’m glad to share that Commercial production has commenced at Sanand unit 2 phase 2. Adding 1 lakh tonnes of panel capacity. This facility significantly enhances our manufacturing scale, improves cost efficiencies, strengthen export capabilities and enables a better and more profitable product mix.
Further, the commercial production has commenced at our Greenfield Jammu facility with an annual capacity of 80,000 tonnes. Primarily focused on value added and higher margin products, the Jammu facility enhances our presence in northern markets, reduces logistic costs, shortens delivery timelines and positions us closer to key consumption centers. Additionally, our greenfield facility at Chandra Bath up is expected to commence operations at any time. This plant will further strengthen our regional footprint, improve customer service level and contribute meaningfully to volume growth as well as margin stability. With these expansions, the company reaches to 1 million tons installed capacity and is actively gearing up for the next phase of expansion towards 2 million tons.
In line with our long term growth and strategic vision for the increased anticipated volume, the company has entered into long term RAW material supply MOUs which have already commenced from Q3. The key projects executed during the quarter, we successfully supplied materials to several prestigious and high visibility projects including Banaras Airport Channels, Jaipur Airport, Chandra Airport, Bahru Station and the world’s largest solar parks at Kavla and Beacon Air. These achievements are testament of our strong execution capabilities, product quality, reliability and long standing relationship with leading developers and EPC players. On the demand side, the outlook remains strong and encouraging.
Government led infrastructure spending, increased private sector investments, rapid urbanization, renewable energy focus and ongoing industrial development continue to support sustained demand for steel pipes and tubes. In addition, recent developments on the global trade front are structurally positive for the industry. The US India Trade deal is Expected to open new opportunities, enhance market access and support long term volume growth. Similarly on the EU India trademark it is significantly positive as it is likely to improve export competitiveness, reduce trade barriers and create meaningful opportunities for Indian manufacturers particularly in the value added and quality driven segments. Looking ahead, we are confident that our strategic focus on value added products, newly commissioned capacities, operational efficiencies and stronger order pipeline will support sustained growth, improve margins and enhance shareholder value over the medium term to long term.
We will now open the floor for questions.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touch tone telephone. If you wish to remove yourself from the question queue you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while while the question queue assembles. Ladies and gentlemen, if you wish to ask a question you may press star and one on your touchtone telephone. Our first question comes from the line of Kunal Shah, an individual investor.
Please go ahead.
Unidentified Participant
Hello dear sir, good evening.
Mr. Anish Bansal
Yeah, yeah, good afternoon.
Unidentified Participant
My question is how much the steel prices decline this quarter? What is the price outlook of the steel prices for this quarter and the coming quarter?
Mr. Anish Bansal
Yeah, good afternoon. So the steel price is declined by almost 2005 rupees per ton in this quarter in Q3. However after this introduction of Seva duty on 30th December, the steel prices have bounced back and we are looking whatever the price decrease happened in Q3, we are, you know this, this, this will reverse in Q4. That’s it.
Unidentified Participant
Okay,
Mr. Anish Bansal
thank you.
Unidentified Participant
Okay, thank you sir.
My next question is sir, about US India trade bill. How this will be impacting the steel industry and the COM company will get benefit from this.
Mr. Anish Bansal
So yes, you know as you all know India has struck you know the deal after you know a lot of negotiations and we are still waiting for the you know, the final outcome. And once it’s signed, I’m sure that you know this will definitely favor our Indian skill industry. You know, the finished goods, you know will uh, definitely start uh, going to the American market uh, after a long gap.
Unidentified Participant
Okay. Okay. Okay. Thank you sir. No, no more question.
Mr. Anish Bansal
Thank you.
operator
Thank you. Our next question comes from the line of Mayank Kumar, an individual investor. Please go ahead.
Unidentified Participant
And good afternoon also sir. I have two questions so just want to know about Judge even mission. So for me how much orders getting from this program and what is the scenario in upcoming quarters and years that communicating order under this Program and you shine objective. And another one I have question about, about another 1 million ton capacity.
operator
Your voice is. Yeah, there’s a lot of static voice. Can you please repeat your question?
Mr. Anish Bansal
Yeah, first one I’ve understood. Can you repeat the second question, sir?
Unidentified Participant
My second question is about the additional 1.1 million ton capacity. So what would be the timeline for adding this?
Mr. Anish Bansal
Yeah, good afternoon. So basically pertaining to Jalvan mission. You know, you are right, you know this, this, this year has been you know subdued from the Jaljeepan mission site. But now what we are lately hearing is you know uh, the allocation uh, in the current budget uh, you know remains the same. And we are what we are talking with the you know, various departments. We see in FY27 there will be a strong order pipeline in the Jalgivan segment especially for our ERW tube segment for galvanized products.
Second, uh, your question pertaining to our additional 1 million tons which will take us to 2 million tons. So we are looking at between FY28 and FY29. So the, the project works are already going on for this capacity addition and we are in very advanced stages of commissioning half a million ton by FY27. Between FY27 and FY28. So we are on track. A lot of progress has been made in this and we are expecting it to come as, as soon as possible.
Unidentified Participant
Okay sir, thank you. Thank you sir.
operator
Thank you. Our next question comes from the line of Sukhar T. Patil from Eyesight Fintech Private Limited. Please go ahead.
Sucrit Patil
Good afternoon to the team. I have two questions. My first question to Mr. Anish is looking ahead, how do you see high tech pipes balancing between expanding manufacturing capacity, sending customer reach and protecting the profits as the demand for steel pipes grows with infrastructure and construction activity. What will guide your decision making process on which of these areas should get the strongest focus in the coming quarters? That’s my first question. I lost my second question after this. Thank you.
Mr. Anish Bansal
Yeah. Good afternoon. So you know our internal, you know our how we decide on the capacities and volume we want to grow by 25 year on year of the volume terms.
Our primary focus in the building construction and infrastructure segments along with the renewable energy side we are seeing maximum traction in you know these two fields and we want to you know capitalize on the oppos in both the spaces. So building and construction and renewable energy
operator
interrupt you. Sir, your voice is breaking.
Mr. Anish Bansal
Sorry, one minute. Is it, is it better now? I have just.
operator
No, it’s still break it. It is still breaking it
Mr. Anish Bansal
Is still.
operator
Yes, I’ll reconnect.
Mr. Anish Bansal
Yeah, yeah. May, it may be at. Am I clear to you?
Sucrit Patil
Yeah, you’re quite audible. I have no problem.
Mr. Anish Bansal
Yeah, maybe, maybe at your end there may be some. I’ll just repeat my answer. Basically you know when we terms, when we discuss on manufacturing volumes and capacities. So our you know focus is 25% volume growth year on year. So this is the focus and we are seeing good traction in the building and construction side and the renewable energy sector. And in the renewable we are very active especially in the Gujarat belt and Rajasthan belt. And we are getting you know like repeated orders from our clients.
And with this new addition capacity at Sanand, we’ll, we will capitalize on this on these two areas even more.
Sucrit Patil
Thank you. My second question to Mr. Arvind is along the similar lines as you plan for the next few quarters. What financial signals or metrics will be most important in guiding decision on cost control, working capital and capital allocation for new projects? How do you see this particular lever shaping high tech pipes? Ability to protect the margins and deliver sustainable value as the business grows?
Mr. Arvind Bansal
Actually on the, on the cost efficiency and working capital front, you know all these areas are continuous process on continuous basis.
We are focusing on better working capital management and cost efficiencies. If you see in FY24, FY25 there is a good improvement in the working capital and, and, and, and hopefully in FY26 also that trend will continue so far as possibilities, so far as profitability is concerned. The point is, you know, as Bansaji has mentioned, this Q3 quarter has been impacted due to steep decrease in steel prices. And, and, but after the government of India has imposed this anti drilling duty now the steel prices has stabilized. Hopefully this Q4, Q4 will be much better than Q3.
And, and, and accordingly this FY26 we will achieve our desired results. And in FY27 hopefully things will be better and we should be able to give better results in terms of profitability, EBITDA and operational efficiencies. Thank you.
Sucrit Patil
So can we take it as a cautious guidance? Just on a closing note to summarize,
Mr. Arvind Bansal
you know we always desire to have a good results but you know after having this global impact and all these challenges, sometimes we face certain issues. But we are very, very much hopeful. We are very much positive. The FY26 and FY27 on a consolidated basis will be much better.
Sucrit Patil
Thank you. And yeah,
Mr. Anish Bansal
after these, you know the, you know this safeguard duty that has been post. So at least you Know the, the, the dumping of steel from outside that has stopped but for next three years. So we have a lot of visibility in terms of, you know, how the steel prices are going to behave for at least you know, a year or so. And with our new capacities and with these new trade deals and our new, you know, value added products, we are you know, very confident that Q4 and the forthcoming quarters will be quite, you know, quite good for the upgrade.
Sucrit Patil
Thank you and best wishes.
Mr. Anish Bansal
Thank you. Thank you so much.
operator
Thank you. Our next question comes from the line of Meenakshi Bhutani from an individual investor. Please go ahead.
Unidentified Participant
Good evening sir. So my question is can you please guide us on the export front? How much the export is contributing the company and what are the targets for upcoming quarters?
Mr. Anish Bansal
Yeah. Thank you, Meenakshi. So basically, you know, we have, you know, started exports in last one year from our new plant in Gujarat because of logistic, you know, logistic competitiveness and uh, in last one year, uh, we’ve been able to, you know, get all the certifications and uh, all the, you know, the barriers that were there, uh, for, for exports. So all those have gone away. We are, we have exported to almost 28 countries in the last one year. And now we are at a stage that we are getting repeat orders from these clients. And that is a huge, you know, a huge, you can say encouragement for the company.
And going forward we will take, we’ll leverage this, this situation and especially after these, you know, these deals that have happened in last two to three months, this will open floodgates for the Indian steel, tube and pipe industry in a big way. So we are geared up now and our ultimate goal is to take our export volume to 10%. This is our target and we are working on that. This new capacity expansion in Gujarat is also focused towards some specialized use and export market. So we are working actively on this. Thank you.
Unidentified Participant
Okay, thank you sir. So I have another question.
Mr. Anish Bansal
Yeah.
Unidentified Participant
What is the current contribution of value added products, how the company is planning. To improve from here?
Mr. Anish Bansal
So, so yes, the, you know, the current value added products contribution is 37% and we hope to, you know, with this new Jammu facility and our new galvanizing facilities in various plants. So we are taking this to 40 to 43% by end of this year and it will gradually move up to 50% in the, in the coming years.
Unidentified Participant
Okay, thank you.
operator
Thank you. Our next question is from the line of current from Asad Simhata. Please go ahead.
Unidentified Participant
Am I audible?
Mr. Anish Bansal
Yes, very much.
Unidentified Participant
Yeah. Good afternoon. So my question Was on. You just mentioned that you have signed some MO with the custom supplier. So could you like if possible elaborate on his.
Mr. Anish Bansal
Sorry Karan, can you repeat your question please?
Unidentified Participant
Yeah, so you mentioned that you have signed an MOU with the supplier. So if possible could you elaborate? Who are the suppliers if it’s possible for you and how will it impact our margin profile, especially gross margin profile and pad margin as well.
Mr. Anish Bansal
Yeah, yeah. So now you know what, I’ll give you a brief background about how the, you know, the steel segment now, how it is shipping up.
So basically you know, whatever hot tool capacity there is right now, so this capacity is totally tied up with the existing players. And now for at least next one year we don’t see any you know, hot tool coil capacity coming in. So it was very, it was imperative for us that we get into these long term supply contracts with these companies so that you know, once the market change we don’t fall short of raw mill supply. So that’s why we entered the you know, in the Q3 when the markets were you know, low and when the you know, all these mills had you know, material with them.
And now the situation is that you know, after this save our duty. So imports have dried up and the uh, demand and supply uh, has uh, you know, has uh. The uh, the equilibrium has come in place. So we got into these supply contracts with these, with our current suppliers which are Steel Authority of India Limited, Arcelor, Mittal, Tata and nmdc. So these are our four cements and we have tied up quantities with these with these companies. So like how will it impact our margin, especially gross profit margin. Right. Yeah. So the first was the availability of material because that was very important for the, you know, the capacity utilization.
So you know, with whatever capacities we have produced if we did not have you know like. Right. Supply chain and it would be, you know, we would not have achieved a higher capacity utilization. But now with these long term supply MOUs, now we are at least assured of raw material and higher value. Higher capacity utilization will automatically help in higher validation EBITDA and higher profit margins.
Unidentified Participant
Okay, got it. And my second question was like what is the margin profile for value added product and normal products? Like what is the difference between margin or in those products especially value added and normal products?
Mr. Anish Bansal
Yeah, so value added is between 4,500 rupees to 5,000 rupees per ton and the, and the regular products between 2500-3000 rupees per ton.
Unidentified Participant
Okay. Okay, got it. Thank you sir.
operator
Thank you. Our next question Comes from the line of Dakia from Antique Stock Broking limited. Please go ahead.
Unidentified Participant
Hi sir, good afternoon. Thank you for this opportunity. I can see that stock in trade has gone up significantly versus last quarter. Can you help us understand what this comprises of?
Mr. Anish Bansal
Yeah. Good afternoon. So I’m glad you answered asked this question. So basically as mentioned the company has entered into long term supply contracts with the company’s and we entered into this contract from Q3 and whereas you know our commissioning and the production has started from the end of Q3. But it was imperative for the company to you know get into these contracts at the right stage.
Now if we would have gone into contracts in Q4 then it would have not been possible. So. So whatever excess material you know we had. So we had, you know we had supplied that. So this is a one time phenomena and Q4 you know as are the capacity utilization and everything is going up. So all this material is going to get consumed in our facilities.
Unidentified Participant
Okay sir, thank you.
Mr. Anish Bansal
Thank you.
operator
Thank you. Our next question comes from the lineup. Lokesh Kashikar from Slips Institutional equities. Please go ahead.
Lokesh Kashikar
Yeah. Hi. Thank you for the opportunity. Sir, the first question is basically on our capacity. I missed your initial remark. So our existing capacity is 9 30,000 metric ton per annum, correct?
Mr. Anish Bansal
Yes.
Lokesh Kashikar
Okay. And what would the exit capacity at FR26?
Mr. Anish Bansal
It will be 1.05 million tons. 1.05 million.
Lokesh Kashikar
So the new capacity is likely to come your way. Is that the Sikhandara part units?
Mr. Anish Bansal
Yes, yes, yes, absolutely. You know and you know the plant has been commissioned and the trials have been successfully, you know taken place. We are just waiting for some, you know some compliance related matter and it can happen anytime.
So we are just waiting for the positive news. And once with the compliance is done we’ll you know we’ll put the pedal down.
Lokesh Kashikar
Okay. Okay. Also sir, we have chosen city and also we have in the past laid foundation for at Hindu Telangana location for some capacity. So when we are we are expecting that capacity to ramp up or comments production.
Mr. Anish Bansal
Yeah. That is almost a two and a half lakh ton capacity. And we are coming, we will be coming with this capacity by end of FY27.
Lokesh Kashikar
Okay. Okay. So if I am not wrong so this 2.5 plus 110 lakh kind of around 12.5 13 lakh capacity would be at the end of April27.
Mr. Anish Bansal
Absolutely.
Lokesh Kashikar
Okay. And our endeavor to reach a 20 lakh million tons capacity by FY29 impact intact.
Mr. Anish Bansal
Yes, absolutely. Absolutely.
Lokesh Kashikar
So sir, what would the total capex that would be required for such a you know a huge capacity as we are almost doubling up over the next two to three years. And what would the funding arrangement for that?
Mr. Anish Bansal
So you know for this additional 1 million tons it comprises of greenfield and brownfield both and we have already you know particularly the land bank for all these capacities was already in place with the company. So the land is already there and a lot of you know, you know the, the pre construction activities have already been done in these facilities.
So know at least the land issue is not there and the total capex is between you know 500 to 600 crores for this incremental capacity and and half of it is already uh, you know in under uh double work in progress.
Lokesh Kashikar
Okay. Okay. And secondly just want to know uh on the you know on the raw material side. So you have just explained that we are, we have entered in a MOU with our suppliers. But how does the pricing basically just happens. Let’s say you get 50 rupees per kilogram raw material and if for next one let’s say it goes to 52 so it is a directly passed on to the customer or you keep it some margin over there as well.
So just wanted to understand raw material versus your realization as well as your margins profile. And
Mr. Anish Bansal
yeah, when I say mous it means that we have you know we have got into contract for a certain volume of steel. So the quantity gets defined in the meu.
Lokesh Kashikar
Okay.
Mr. Anish Bansal
And the pricing is done monthly. So in the beginning of every month, you know every, every company comes out with their revised pricing in line with the market conditions. And for us, you know, the higher the volumes the better the pricing becomes.
Lokesh Kashikar
Okay.
Mr. Anish Bansal
And the current whatever you know the, the increased MOUs we have done are with our current suppliers.
Current set of suppliers for the additional volume.
Lokesh Kashikar
Okay.
Mr. Anish Bansal
Yeah,
Lokesh Kashikar
no, no, but the question remains that let’s say you for example you, you are getting let’s say 50 rupees per kg HRC and next month goes to 52. Okay. You have logged in the quantity but price would be variable. Now on your realization that Rupees 2 would be gain on correct or you or how does it is.
Mr. Anish Bansal
Yeah the transmission of prices, you know there may be a lack of seven to 10 days but then eventually whatever price decrease or increase is a generally is a pass through.
Lokesh Kashikar
Okay. Okay. And the last couple of questions from my side. So you have done almost 3 lakh 85,000 metric ton of of you know sales during 9 months and you have earlier guided for 1 5.5 to 6 lakh metric tons of sales volume for FY26. Now looking for Q4. How do you see the sales volume ramping up from here on? And do you think that the earlier guidance is possible to reach to that level? And what would the guidance for FY27 and FY28 as we are ramping up the capacity as well.
Mr. Anish Bansal
So basically you know we have given a guidance five and a half lakh ton.
So I’ll be you know, plus minus five, ten. We’ll be there in that range.
Lokesh Kashikar
Okay. And for effort, 26 for FY27. Do you think that 6 lakhs or 6 lakh plus is possible? Is the possibility?
Mr. Anish Bansal
Yeah. Yeah. Because with this new capacity of 1.05 we do a 65% utilization. So six and a half lactons is, is quite, you know, conservatively will be achieving this.
Lokesh Kashikar
Okay, but don’t you think so that major as the peers are also ramping up their capacity so there would be too much excess capacity in the system that will basically, you know, it would be difficult for anyone to absorb the incremental capacity in the system.
So the volume still should become difficult. Assume you move on from here.
Mr. Anish Bansal
So you know, you know, I look at this way, you know now within our industry, you know there are at least you know, 10 to 12% increase in the, you know, in the market every year. And there are a lot of new products that come in and you know, our focus is, you know, the innovation in the new products and new markets. So you know, I at high tech we feel confident that you know like 2025 volume growth we can achieve for next six, seven years at least.
Lokesh Kashikar
Okay, I have more questions. I will come back in with you.
Mr. Anish Bansal
Thank you.
operator
Thank you. Our next question is from the line of Akshay Shetty from Mirai Asset. Please go ahead.
Akshay Shetty
Good evening sir. Thank you for taking my question. My question is on profitability. I wanted to know what is the management’s medium, medium term ebit per ton target and do you see e moving towards FY towards 5000 rupees per turn going forward?
Mr. Anish Bansal
Yeah. Good afternoon Akshay. So yes, you know, as I said, you know in the Q, the price, steel prices have sort of, you know, it bottomed out. And after this imposition of safeguard duty the, you know, things have changed drastically and you know, once it is not there. So we are definitely between, you know, if you leave the price quality we are operating between 4,000 to 4,500 rupees per ton.
So that is our outlook and hopefully Q4 and the onward quarters will be substantially better.
Akshay Shetty
Yeah, I have one more question. Your currently value added products stands at around 37, 38% of the total sales and you are targeting like 42 to 50% in next I guess one to two years. So what initiatives will drive this improvement in the product mix?
Mr. Anish Bansal
So whatever new, you know, the capacities are coming. They are focused towards value added products like color coated at Jammu, our solar talk tubes in Gujarat and galvanized products in the other locations. So all these, all, you know the, the major focus in the new capacities is towards value add products and hopefully by end of FY27 we’ll touch our capacity mix of 50% when it comes to alloyed products.
Akshay Shetty
Yeah. Okay. Yeah. And one more question. What is your EBITDA per ton outlook for FY26?
Mr. Anish Bansal
So we have, we are currently in the range of 34, 35 rupees per ton and Q4 you know, will be you know, substantially better compared to Q3 and you know, Q Q4 onwards. You know, 4,000 rupees per ton is a realistic number that we looking at.
Akshay Shetty
Yeah, okay, thank you, that’s awesome. My said all the best.
operator
Thank you. Our next question is from the line of Aniket Madhavani from State Step Trade Capital. Please go ahead.
Aniket Madhwani
Yeah, hello sir. Am I audible?
Mr. Anish Bansal
Yes please.
Aniket Madhwani
Yeah. So my question was with regards to the volumes. So in this quarter we have ACH, we have achieved around 1.36 lakh ton. And out of this how much does does it account for exports?
Mr. Anish Bansal
Sir, this month in this quarter we have done almost 6 to 7,000 tons of export volume and in coming quarters it is going to go up because you know, with the uncertainty of cbam which is the carbon border resistance mechanism in eu, so this, there were new set of rules which had to come in from the 1st of January but now there’s a lot of clarity now and the Europe buyers who are you know like sitting on the fence in November and December, they are now quite active now and the clarity and whatever you know we have, we have to do some certifications and all that has been done and this volume will significantly go up in Q4 onwards.
Aniket Madhwani
All right, so, so which country accounts the Most from this 6 to 7k tons. I mean to which country
Mr. Anish Bansal
currently Europe holds the largest market share.
Aniket Madhwani
Okay, and what about the margin level? Exports does have higher margins than the domestic.
Mr. Anish Bansal
Yes, currently, you know the margins will certainly go up. Right now you know our first focus was to you know, you know, make the customers aware of our company aware of our products, aware of our quality. So now everything in last one year that has been set, all the markets, the certification processes have been already done.
And going forward now, you know, now we are in a position where we can, you know, leverage on these. On these things.
Aniket Madhwani
All right. All right. And secondly, what is the outstanding order book do you have currently.
Mr. Anish Bansal
Sorry, can you repeat your question?
Aniket Madhwani
What is the outstanding order book
Mr. Anish Bansal
for export
Aniket Madhwani
aggregate level on aggregate aggregation,
Mr. Anish Bansal
domestic and exports. Both. Right?
Aniket Madhwani
Yes.
Mr. Anish Bansal
Yeah. So currently, you know, the order book stands between 200 to 250 crores. You know, this comprises of all our, you know, large EPC orders are solar, solar orders and export orders, some institutional.
Aniket Madhwani
And from this 200 to 250 crores of orders, how much is from exports and how much does it come from export?
Mr. Anish Bansal
About 20 crores.
Aniket Madhwani
Okay, thank you.
operator
Thank you. As there are no further questions, I would now like to hand the conference over to Mr. Anish Bansal for closing comments. Over to you, sir.
Mr. Anish Bansal
In closing, I would like to extend my sincere thanks to our customers for their continued trust, our employees for their dedication and commitment, and our shareholders for their unwavering confidence in High Tech Pipes Limited. Thank you.
operator
Thank you on behalf of Hitech Pipes Limited. That concludes this conference. Thank you for joining us. And you may now disconnect your lines. Thank you.