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HARIOMPIPE - Hariom Pipe

📊 NSE: HARIOMPIPE 🏢 Steel - Medium / Small 📅 Last Updated: 12/13/2025 22:49

📢 Recent Corporate Announcements

CRISIL Places Hariom Pipe Ratings on 'Watch Developing' for Long and Short Term Facilities

🔵 WATCH ⭐ 6/10

REGULATORY 📅 15 Apr 2026, 04:17 PM

CRISIL Ratings has updated the credit outlook for Hariom Pipe Industries Limited, placing its bank facility ratings on 'Watch with Developing Implications'. The long-term rating is currently CRISIL A- and the short-term rating is CRISIL A2+, but the previous 'Stable' outlook has been replaced. This status indicates that the rating agency is monitoring specific developments that could lead to a rating change in either direction. Investors should note that such actions often follow significant corporate events like acquisitions or major capital expenditure plans.

Long-term bank facility rating of CRISIL A- placed on 'Watch Developing' from 'Stable'.
Short-term bank facility rating of CRISIL A2+ placed on 'Watch Developing'.
The rating action was officially communicated to the exchanges on April 15, 2026.
The 'Watch Developing' status implies uncertainty regarding the credit profile's direction in the near term.

💡 Investors should remain cautious and wait for the detailed rationale from CRISIL to understand the specific event triggering this watch. Monitor the company for any upcoming announcements regarding M&A, large-scale expansion, or changes in capital structure.

Hariom Pipe Shareholders Approve Solar Project RPT and Director Re-appointment with 99%+ Majority

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 08 Apr 2026, 05:52 PM

Hariom Pipe Industries Limited has successfully passed three key resolutions via postal ballot with overwhelming shareholder support. The approvals include a material Related Party Transaction (RPT) with its subsidiary, Hariom Power and Energy, to develop a solar power project for green steel manufacturing. Shareholders also approved an RPT with Metal Mart Private Limited aimed at improving operational efficiency and securing GST reimbursement subsidies for the Telangana unit. Furthermore, Mr. Rajender Reddy Gankidi was re-appointed as a Non-Executive Independent Director for a second five-year term. All resolutions received over 99.6% of the valid votes cast, indicating strong investor confidence in the management's strategic direction.

Solar power project RPT with subsidiary HPEPL passed with 99.65% majority of valid votes.
RPT with Metal Mart Private Limited (MMPL) approved to enable mega subsidy benefits including GST reimbursement.
Mr. Rajender Reddy Gankidi re-appointed as Independent Director with 99.98% shareholder support (15.88 million votes).
Resolutions support the company's long-term vision of green steel manufacturing and sustainable value creation.

💡 Investors should view the approval of the solar project and the GST-subsidy linked RPT as positive steps toward margin expansion and ESG compliance. Monitor the execution of the solar project and its impact on power costs in upcoming quarterly results.

Hariom Pipe Industries to Close Trading Window from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 01:00 PM

Hariom Pipe Industries Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is a standard procedure ahead of the declaration of the audited financial results for the quarter and financial year ending March 31, 2026. The restriction applies to all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced at a later date.

Trading window closure effective from Wednesday, April 01, 2026.
Closure is in anticipation of the Audited Financial Results for the quarter and year ending March 31, 2026.
Restriction remains in place until 48 hours after the official declaration of financial results.
Applies to all designated persons, immediate relatives, and connected persons as per the Company's Code of Conduct.

💡 This is a routine regulatory filing with no impact on company fundamentals. Investors should monitor for the upcoming board meeting date to review the company's annual financial performance.

Hariom Pipe Expands Capacity to 7.85 Lakh MTPA and Shifts Focus to Value-Added Products

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 18 Mar 2026, 06:57 PM

Hariom Pipe Industries has reported a significant capacity expansion, reaching a total of 785,232 MTPA in FY26, up from 701,232 MTPA in FY24. The company is aggressively pivoting towards high-margin value-added products, with Galvanized Pipes and Coils showing substantial revenue growth in FY25. Operating five vertically integrated units across Southern India, the company maintains a strong distribution network of over 900 dealers. With 65 acres of land available for future expansion and a 60 MW solar power project underway, the company is well-positioned for scalable and sustainable growth.

Total installed capacity increased to 785,232 MTPA, with MS Tubes capacity rising from 132,000 to 216,000 MTPA.
Value-added products like GP Pipes and Coils contributed over 1,357 Cr in total revenue for FY25.
Maintains a robust distribution network of 900+ dealers and B2B clients, with 80% of sales through the dealer channel.
Backward integration model from sponge iron to finished pipes enables superior margins and cost efficiency.
Sustainability focus with 60 MW solar power plant installation across 13 locations in Maharashtra.

💡 Investors should focus on the company's ability to utilize the expanded MS Tube capacity and the margin trajectory as value-added products become a larger portion of the mix. The available land bank for future expansion provides a clear long-term growth runway.

Hariom Pipe Industries to Meet Institutional Investors at Kaptify Conference on March 18

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Mar 2026, 03:32 PM

Hariom Pipe Industries Limited has scheduled an interaction with institutional investors and analysts on March 18, 2026. The meetings will be held in Mumbai between 9:00 am and 6:00 pm as part of the Kaptify Korporate Konnect event. The management will engage in both group and one-on-one sessions to discuss the company's business, though no unpublished price-sensitive information will be shared. This routine disclosure highlights the company's ongoing efforts to maintain active investor relations.

Investor meeting scheduled for Wednesday, March 18, 2026, in Mumbai
Interaction window set between 9:00 am and 6:00 pm IST
Format includes both Group and One-on-One in-person meetings
Event organized by Kaptify Consulting under the Kaptify Korporate Konnect banner

💡 Investors should monitor for any investor presentations or transcripts released after the meeting for updates on growth guidance. No immediate trading action is required based on this routine scheduling announcement.

Hariom Pipe Seeks Approval for ₹270 Cr Solar Project RPT and Director Re-appointment

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 07 Mar 2026, 05:22 PM

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.

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.

💡 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

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 02 Mar 2026, 07:03 PM

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.

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.

💡 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 to Participate in Arihant Bharat Connect Conference on March 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Feb 2026, 05:28 PM

Hariom Pipe Industries Limited has announced its participation in the Arihant Bharat Connect Conference: Rising Stars 2026. The virtual group meeting is scheduled for Wednesday, March 11, 2026, between 2:00 PM and 3:00 PM. This disclosure is made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The company has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be discussed during the session.

Participation in the Arihant Bharat Connect Conference: Rising Stars 2026
Scheduled for March 11, 2026, from 2:00 PM to 3:00 PM IST
The meeting will be held in a virtual group format
Company confirms no Unpublished Price Sensitive Information (UPSI) will be shared

💡 Investors should monitor the company's website for any investor presentations or transcripts released after the conference for insights into management's outlook. No immediate trading action is required based on this routine disclosure.

Hariom Pipe Reports 21% Revenue Growth in 9M FY26; Targets 90k+ Tons Volume in Q4

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 04:55 PM

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.

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.

💡 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 Releases Audio Recording of Q3 FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Feb 2026, 03:28 PM

Hariom Pipe Industries has officially released the audio recording of its investor conference call held on February 9, 2026. The call was conducted to discuss the company's financial and operational performance for the quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can now access the full management commentary and Q&A session via the company's website to understand the drivers behind the latest financial results.

Audio recording of the investor conference call held on February 09, 2026, is now publicly available.
The call focused on Unaudited Financial Results for Q3 and the nine-month period ended December 31, 2025.
Disclosure made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording link is hosted on the official company website for shareholder transparency.

💡 Investors should listen to the recording to gain qualitative insights into management's future outlook and operational strategies that may not be evident from the balance sheet alone.

Hariom Pipe Q3FY26 Revenue Rises 21% to ₹362.9 Cr; Value-Added Products Hit 95% Volume

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 Feb 2026, 12:00 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 07 Feb 2026, 05:42 PM

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.

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.

💡 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 Schedules Q3 & 9M FY26 Earnings Call for February 9, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 03 Feb 2026, 03:29 PM

Hariom Pipe Industries Limited has announced an investor conference call scheduled for Monday, February 09, 2026, at 2:00 PM IST. The call is intended to discuss the company's operational and financial performance for the third quarter and nine-month period ending December 31, 2025. Senior management, including Managing Director Mr. Rupesh Kumar Gupta and CFO Mr. Amitabha Bhattacharya, will be present to interact with analysts and investors. This is a standard regulatory disclosure under SEBI (LODR) Regulations, 2015.

Conference call scheduled for February 09, 2026, at 14:00 IST to discuss Q3 and 9M FY26 results.
Management representation includes Managing Director Rupesh Kumar Gupta and CFO Amitabha Bhattacharya.
The call will be hosted via Zoom and coordinated by KAPTIFY Consulting.
Registration is required via the provided link to receive joining details and participate in the session.

💡 Investors should register for the call to gain insights into the company's margin performance and demand outlook for the pipe sector. Monitoring management commentary on capacity expansion and raw material pricing will be crucial.

Hariom Pipe Industries Incorporates New Subsidiary Metal Mart with 70% Stake

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 23 Jan 2026, 01:47 PM

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.

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.

💡 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 Industries: GM Sales & Marketing (Tamil Nadu) Mr. K. Ramesh Resigns

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 20 Jan 2026, 06:26 PM

Hariom Pipe Industries Limited has announced the resignation of Mr. K. Ramesh, the General Manager of Sales & Marketing for the Tamil Nadu Division. Mr. Ramesh was designated as Senior Management Personnel (SMP) within the company. The resignation is effective from January 20, 2026, and was attributed to personal reasons. This is a routine management update and follows the disclosure requirements under Regulation 30 of SEBI (LODR) Regulations.

Mr. K. Ramesh resigned as GM Sales & Marketing (Tamil Nadu Division) effective January 20, 2026.
The individual held the status of Senior Management Personnel (SMP) as per SEBI guidelines.
The resignation was cited as being due to personal reasons.
The company has filed the necessary disclosures with NSE and BSE regarding this management change.

💡 This is a routine management change at a regional level; investors should monitor for a timely successor appointment to ensure sales continuity in the Tamil Nadu market.

View All HARIOMPIPE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total Income grew 17% YoY to INR 1,359.94 Cr in FY25. H1 FY26 revenue reached INR 797 Cr, a 21% YoY increase, driven by strong demand momentum in the second half. Sales volume for H1 FY26 also grew 21% YoY to 1.38 lakh MT.

Geographic Revenue Split

The company has a strong presence in the Andhra Pradesh region, leveraging government supplies and an expanding dealer network. While specific percentage splits are not disclosed, this belt is identified as a key growth driver for infrastructure demand.

Profitability Margins

Gross margins are influenced by steel pricing volatility. In FY25, Revenue per MT fell 4.6% to INR 55,284, while Cost per MT fell 5.3% to INR 48,019. PAT margin decreased from 4.90% in FY24 to 4.54% in FY25 due to higher depreciation and finance costs.

EBITDA Margin

EBITDA margin improved to 12.93% in FY25 from 12.02% in FY24, a 91 bps increase. EBITDA per MT remained stable at INR 7,265 (up 0.5% YoY). The improvement was aided by reduced power and fuel costs and a higher share of value-added products.

Capital Expenditure

FY25 Capex was directed toward maintenance, modernization, and de-bottlenecking. Future Capex is expected to be relatively lower, focusing on maintenance and a phased solar plant to reduce long-term power costs.

Credit Rating & Borrowing

The company maintains a 'Stable' outlook. Finance costs increased 37.9% YoY to INR 44.91 Cr in FY25, reflecting higher borrowing to support working capital and capacity ramp-ups.

⚙️ Operational Drivers

Raw Materials

Hot Rolled Coils (HRC) and HRPO coils are the primary raw materials. Steel pricing volatility is a major factor, as raw material costs represent the bulk of the INR 48,019 cost per MT.

Import Sources

Not disclosed in available documents; however, the company maintains established relationships with domestic suppliers.

Capacity Expansion

Production volume reached 2,45,467 MT in FY25, up 23.3% YoY. The company aims for a 30% CAGR in volume growth from FY26 to FY27 through targeted capacity expansions and de-bottlenecking.

Raw Material Costs

Raw material costs are highly sensitive to steel price volatility. In FY25, the cost per MT was INR 48,019, which decreased from INR 50,719 in FY24, helping to sustain EBITDA margins despite lower realizations.

Manufacturing Efficiency

Capacity utilization is improving, with production volume growing 23.3% YoY. Integrated operations from HRC to finished pipes provide a competitive edge in quality and cost.

Logistics & Distribution

The company maintains an expansive distribution network reaching both rural and urban areas. Logistics costs are expected to stay within a predictable range as volumes improve.

📈 Strategic Growth

Expected Growth Rate

30%

Growth Strategy

The 30% CAGR will be achieved by expanding the dealer network, increasing penetration in the OEM and B2B segments, and focusing on value-added products like the thin steel segment. The company is also entering the solar segment by providing mounting structures and accessories.

Products & Services

Steel pipes, tubes, GP pipes, HRPO coils, and solar panel mounting structures/accessories.

Brand Portfolio

Hariom Pipes.

New Products/Services

New segment focused on solar supporting structures and accessories, which contributed to a jump in 'purchase of stock in trade' in recent financials.

Market Expansion

Targeting the Andhra Pradesh belt for infrastructure growth and establishing new dealers to increase market reach.

Strategic Alliances

The company uses MOUs and long-term strategies with 'good companies' to ensure consistent consumption of Hariom products and maintain quality standards.

🌍 External Factors

Industry Trends

The industry is seeing robust infrastructure demand. Hariom is positioning itself by shifting from generic pipes to value-added thin steel segments and solar infrastructure, aiming for a 30% volume CAGR.

Competitive Landscape

The company faces competition in generic pipe markets and is strategically moving toward B2B and OEM segments to differentiate its product profile.

Competitive Moat

The moat is built on an integrated business model (cost leadership) and a specialized focus on the thin steel segment. This is sustainable due to the technical requirements and established dealer network in South India.

Macro Economic Sensitivity

Highly sensitive to infrastructure demand and government policy shifts. GDP growth and steel price cycles directly impact volume and realization trajectories.

Consumer Behavior

Increased demand for quality-certified products and specialized steel for solar and infrastructure projects is driving the shift toward value-added sales.

Geopolitical Risks

Macroeconomic headwinds in input costs and steel pricing volatility are the primary external risks identified.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to the Companies Act 2013 and SEBI Listing Regulations. The company maintains internal financial controls to ensure compliance with all applicable manufacturing and environmental standards.

Environmental Compliance

The company manages environmental risks through compliance with applicable laws and internal monitoring, though specific ESG costs are not disclosed.

Taxation Policy Impact

The effective tax rate for FY25 was approximately 25.7% (INR 21.38 Cr tax on INR 83.10 Cr PBT).

Legal Contingencies

The company reported no complaints under its vigil mechanism during the review period. Specific values for pending court cases were not disclosed.

⚠️ Risk Analysis

Key Uncertainties

Steel price volatility and working capital intensity are the primary uncertainties, with the potential to impact PAT margins (which fell 36 bps in FY25).