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Hariom Pipe Seeks Approval for ₹270 Cr Solar Project RPT and Director Re-appointment
Hariom Pipe Industries has issued a postal ballot notice seeking shareholder approval for three key resolutions. The most significant is a material related party transaction of up to ₹270 crore with its subsidiary, Hariom Power and Energy Private Limited, to develop a solar power project. The company also seeks approval for transactions with Metal Mart Private Limited to improve operational efficiency and secure GST reimbursement subsidies for its Telangana Unit. Additionally, the board proposes the re-appointment of Mr. Rajender Reddy Gankidi as an Independent Director for a second five-year term.
Key Highlights
Proposed Material Related Party Transaction of up to ₹270 Crore with subsidiary HPEPL for solar energy development.
Investment aligns with ESG principles and a long-term vision for green steel manufacturing.
Transactions with Metal Mart Private Limited (MMPL) designed to avail mega subsidy benefits including GST reimbursement.
Re-appointment of Mr. Rajender Reddy Gankidi as Independent Director for a 5-year term starting May 15, 2026.
Remote e-voting period runs from March 09, 2026, to April 07, 2026, with results by April 09.
💼 Action for Investors
Investors should view the ₹270 crore solar investment as a positive move toward long-term energy cost reduction and ESG compliance. The potential for GST reimbursements through the MMPL transaction could provide a meaningful boost to operational margins in the near term.
Hariom Pipe Board Approves Director Re-appointment and Enhanced Investment Limits
The Board of Hariom Pipe Industries has approved the re-appointment of Mr. Rajender Reddy Gankidi as an Independent Director for a second five-year term effective May 15, 2026. Key financial approvals include the enhancement of limits for loans, guarantees, and investments under Section 186, alongside material related party transactions. These decisions are subject to shareholder approval via a postal ballot process. The move ensures leadership continuity while preparing the company for potential financial expansions or inter-corporate dealings.
Key Highlights
Re-appointment of Mr. Rajender Reddy Gankidi as Independent Director for a 5-year term starting May 15, 2026.
Approval to enhance limits for loans, guarantees, and investments under Section 186 of the Companies Act.
Authorization of Material Related Party Transactions (RPTs) subject to shareholder consent.
Cut-off date for postal ballot notice and e-voting set for February 27, 2026.
Mr. Gankidi possesses 37 years of banking experience, including senior roles at Canara Bank.
💼 Action for Investors
Investors should review the upcoming postal ballot notice to understand the scale of the proposed investment limit increases and the nature of the related party transactions. These details will provide better clarity on the company's capital allocation strategy.
Hariom Pipe Reports 21% Revenue Growth in 9M FY26; Targets 90k+ Tons Volume in Q4
Hariom Pipe Industries reported a 21% year-on-year growth in revenue to ₹1,159.7 crores for the first nine months of FY26, driven by a similar 21% rise in sales volumes to 2.07 lakh tons. The company maintained a strong value-added product mix of 96-97%, resulting in a 9M EBITDA per ton of ₹7,039. Management expects Q4 volumes to reach between 90,000 and 95,000 tons, supported by seasonal demand and a growing dealer network. Additionally, the 60 MW solar project is on track, with the first 35 MW expected to be operational by April 2026.
Key Highlights
9M FY26 revenue and sales volume both grew by 21% YoY to ₹1,159.7 crores and 2.07 lakh tons respectively.
EBITDA per ton stood at ₹7,039 for 9M FY26, with management guiding for a steady state of ₹7,000-₹8,000.
Value-added products continue to dominate the revenue mix, contributing approximately 96% to 97% of total sales.
The 60 MW solar power project is progressing, with 35 MW slated for commissioning in April 2026 and the remainder by August 2026.
Management targets Q4 FY26 sales volumes of 90,000 to 95,000 tons, leveraging strong demand in Southern India.
💼 Action for Investors
Investors should monitor the company's ability to hit the ambitious Q4 volume targets and the timely commissioning of the solar project to reduce power costs. The steady EBITDA per ton despite steel price volatility reflects strong operational resilience.
Hariom Pipe Q3FY26 Revenue Rises 21% to ₹362.9 Cr; Value-Added Products Hit 95% Volume
Hariom Pipe Industries reported a strong Q3FY26 with revenue growing 21% YoY to ₹362.9 crore, driven by a 20% increase in sales volumes to 68,404 MT. The company's focus on value-added products is evident, with these segments contributing 95% of total sales volume. EBITDA grew 14% YoY to ₹45.2 crore, although PAT growth was more modest at 4% YoY reaching ₹11.6 crore. The company is strategically expanding into renewable energy solutions, specifically high-strength solar structures, and has secured a 60 MW solar power plant project.
Key Highlights
Quarterly revenue reached an all-time high of ₹362.9 crore, marking a 21% YoY growth.
Sales volumes for 9MFY26 crossed 2 lakh MT, growing 21% compared to the previous year.
Value-added products now constitute 95% of the total sales mix, supporting higher margins.
EBITDA for the nine-month period rose 15% YoY to ₹145.5 crore due to scale and cost controls.
Strategic entry into solar infrastructure with new pre-galvanized tubular sections and a 60 MW solar project.
💼 Action for Investors
Investors should monitor the company's transition into the high-margin solar infrastructure segment and the impact of the 60 MW solar project on long-term energy costs. The consistent volume growth and high share of value-added products suggest strong operational execution.
Hariom Pipe Q3 FY26 Results: Revenue Up 21% YoY to ₹362.85 Cr, PAT Grows to ₹11.59 Cr
Hariom Pipe Industries reported a steady performance for the quarter ended December 31, 2025, with consolidated revenue growing 21% YoY to ₹362.85 crore. Net profit for the quarter stood at ₹11.59 crore, showing a modest 3.2% growth compared to the same period last year, but a stronger 11.3% growth on a sequential basis. For the nine-month period, the company's revenue reached ₹1,159.68 crore, a significant jump from ₹957.34 crore in the previous year. While top-line growth is robust, margins appear to be under slight pressure due to increased finance and depreciation costs.
Key Highlights
Consolidated Revenue from operations increased 21% YoY to ₹36,285.39 lakhs in Q3 FY26.
Net Profit (PAT) for Q3 FY26 rose to ₹1,159.21 lakhs, up 11.3% on a sequential (QoQ) basis.
9M FY26 Revenue reached ₹1,15,968.53 lakhs, a 21.1% increase over the ₹95,734.57 lakhs recorded in 9M FY25.
Finance costs for the quarter rose to ₹1,352.28 lakhs compared to ₹1,217.21 lakhs in the same quarter last year.
Basic EPS for the quarter improved slightly to ₹3.74 from ₹3.68 in the year-ago period.
💼 Action for Investors
Investors should focus on the strong top-line growth and the company's ability to maintain profitability despite rising finance costs. The stock remains a watch for capacity utilization and margin improvement in upcoming quarters.
Hariom Pipe Industries Incorporates New Subsidiary Metal Mart with 70% Stake
Hariom Pipe Industries Limited (HPIL) has incorporated a new subsidiary, Metal Mart Private Limited (MMPL), on January 22, 2026. HPIL holds a 70% stake in the new entity, which has an authorized share capital of Rs. 10,00,000. The subsidiary is established to focus on the trading of metals and steel allied products, aligning with the company's strategic expansion goals. As a newly incorporated entity, MMPL is yet to commence business operations and has no prior turnover history.
Key Highlights
Incorporation of Metal Mart Private Limited as a 70% owned subsidiary of HPIL.
Authorized share capital of the new entity is Rs. 10,00,000 divided into 1,00,000 equity shares.
The subsidiary will focus on the trading of metals and steel allied products.
Investment was made through cash consideration at a par value of Rs. 10 per share.
The move is part of the company's strategic objective to expand its business footprint.
💼 Action for Investors
Investors should view this as a positive step toward vertical or horizontal expansion in the steel sector. Monitor future quarterly results to see how this trading arm contributes to consolidated revenue and margins.
Hariom Pipe to Incorporate New Subsidiary 'Metal Mart' with 70% Stake for Metal Trading
Hariom Pipe Industries has approved the incorporation of a new subsidiary, Metal Mart Private Limited, to engage in the trading of metal and steel allied products. The company will hold a 70% stake in this new entity, subscribing to the initial share capital at face value. This move is part of the company's strategic goal to expand its existing business operations and market reach in the metal sector. The incorporation process is expected to be completed within 10 to 20 days, subject to regulatory approvals from the Ministry of Corporate Affairs.
Key Highlights
Board approved the incorporation of Metal Mart Private Limited as a 70% owned subsidiary.
The new entity will focus on the trading of metal and steel allied products to complement existing business.
Incorporation is expected to be completed within a short timeframe of 10 to 20 days.
The company will subscribe to the initial share capital at face value for its 70% controlling interest.
💼 Action for Investors
Investors should monitor the scale of operations of this new trading arm and its impact on consolidated margins in future quarterly results. The move indicates a strategic push towards vertical integration or market expansion in the steel ecosystem.