Hariom Pipe Industries Limited (HARIOMPIPE)

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Hariom Pipe Industries Limited (HARIOMPIPE) · mywealthgrid

About

Mid-cap steel pipe manufacturer (₹1,091 Cr market cap) supplying India's infrastructure, construction, and industrial sectors. Quarterly revenue ranges ₹336–507 Cr with stable 12.5% operating margins. Positioned as capital-light specialist exposed to infrastructure capex cycles typical of industrials.

Face value: ₹10

Market cap

₹1,030 Cr

P/E

15.0×

P/B

1.6×

Dividend yield

0.2%

ROE

12.4%

ROCE

20.8%

Debt / equity

0.63

OPM

12.6%

EPS (TTM)

₹22.2

Book value

₹208.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue and profit volatility: Quarterly revenue ₹336–507 Cr and net profit ₹10–30 Cr signal demand or execution swings; downturns could compress volumes sharply
Fixed cost base: Profit swings 3× as much as revenue (₹10–30 Cr on ₹336–507 Cr range), indicating downside leverage if demand falls
Cyclical exposure: Steel pipe demand depends on infrastructure/construction/auto capex—verify India's current cycle position and forward spending visibility
Moderate leverage: D/E 0.63 combined with cyclical demand means margin compression + volume downturn could strain debt service; verify interest coverage and covenant headroom

Generated analysis · source review pending

Growth drivers

Peak revenue ₹507 Cr (Mar 2026) vs recent ₹430 Cr suggests untapped capacity; achieving peak volumes would restore net profit from ₹17 Cr to ₹30 Cr range
Stable OPM at 12.5% across ₹336–507 Cr quarterly range means profit scales with volume—verify what drives quarterly swings and if they are cycle or execution related
D/E 0.63 provides capex headroom; verify if management has growth capex or M&A plans
Steel pipe demand typically follows infrastructure/construction/auto spending—verify India's current and forward capex trends

Generated analysis · source review pending

1,100 historical price candles were omitted because the exchange source has not been verified.

₹332.4-3.7%1Y

Quick read

rule-based

Pros

+High return on capital employed of 20.3%
+Profit CAGR of 38% over the last 5 years
+Revenue CAGR of 45.7% over the last 5 years

Cons

−Low dividend payout of 3.4% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 38
Growth: 40
Valuation: 84

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	254	431	644	1,153	1,357	1,667
COGS	—	—	—	—	1,048	1,302
Gross profit	—	—	—	—	309	365
	—	—	—	—	134	155
	34	56	82	139	175	209
OPM %	13.5%	13%	12.7%	12%	12.9%	12.6%
Depreciation	6	8	9	34	50	65
Interest	8	8	10	33	45	54
	1	3	1	5	3	13
Profit before tax	21	43	63	77	83	104
Tax	—	—	—	—	21	28
Tax %	—	—	—	—	25.7%	27%
	15	32	46	57	62	76
PAT margin %	6%	7.4%	7.2%	4.9%	4.6%	4.5%
EPS (₹)	—	—	—	—	20.3	24.5
EPS adjusted (₹)	8.9	18.8	16.7	19.7	19.9	24.5
	—	—	—	—	3%	3.1%
Annual report	—	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	17	17	28	29	31	31
Reserves	54	84	348	435	542	616
Minority interest	—	—	—	—	—	3
	80	87	296	371	400	404
	23	27	38	45	224	167
Total equity & liabilities	174	216	709	880	1,197	1,220
	59	54	134	366	424	484
CWIP	—	—	—	—	12	16
Investments	—	—	—	—	0	0
	—	—	—	—	761	721
Total assets	174	216	709	880	1,197	1,220

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	10	4	-101	5	79	192
	-23	-4	-222	-182	-86	-141
	12	-0	426	74	31	-75
Net cash flow	-1	-1	104	-102	24	-23
Free cash flow	—	—	—	—	-26	33
CFO / Operating profit %	30.4%	6.6%	-122.8%	3.6%	44.8%	91.7%

Compounded sales growth

7 years: —
5 years: 46%
3 years: 37%
1 year: 23%

Compounded profit growth

7 years: —
5 years: 38%
3 years: 18%
1 year: 23%

Return on equity

7 years: —
5 years: 16%
3 years: 12%
Last year: 12%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	22.8%	21.9%
EBITDA margin %	13.5%	13%	12.7%	12%	12.9%	12.6%
EBIT margin %	11%	11.2%	11.3%	9.1%	9.2%	8.6%
PAT margin %	6%	7.4%	7.2%	4.9%	4.6%	4.5%
Working capital
Receivable days	—	—	—	—	54	41
Inventory days	—	—	—	—	149	113
Payable days	—	—	—	—	65	31
NWC days	—	—	—	—	138	123
Leverage
Current ratio	1.62	1.96	2.12	1.68	1.45	1.68
Debt to EBITDA	2.34	1.56	3.62	2.68	2.28	1.93
Debt to equity	1.13	0.87	0.79	0.8	0.7	0.63
Interest coverage	3.8	6.2	7.1	3.4	2.9	2.9
Asset turnover	1.46	1.99	0.91	1.31	1.13	1.37
Return ratios
Return on assets %	8.7%	14.8%	6.5%	6.5%	5.2%	6.2%
Return on capital employed %	26.5%	41%	22.7%	20%	20.1%	20.8%
Return on equity %	21.4%	31.6%	12.3%	12.2%	10.8%	11.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.91%	60.91%	58.28%	57.17%	57.15%	57.26%	57.26%	57.26%	57.26%	57.26%	57.26%	57.26%
	2.81%	2.58%	6.51%	10.1%	9.55%	9.4%	9.5%	9.59%	9.53%	9.23%	9.49%	10.25%
	0%	0%	0%	0.16%	0.38%	0.05%	0.23%	0.22%	0.16%	0.05%	0.06%	0.07%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	36.28%	36.51%	35.21%	32.57%	32.92%	33.29%	33.01%	32.93%	33.05%	33.46%	33.19%	32.42%
No. of shareholders	—	—	—	—	—	—	—	—	57,910	57,627	53,763	54,386

Promoter holding down 3.65 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Ansh GolasPromoter Group	BuyMarket Purchase	220	₹1.05 L	0.47% → 0.47%	14 Aug 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

94 deals · 13 Apr 2022 – 14 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	2,67,958	₹415.59	₹11.14 Cr
14 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	2,66,284	₹413.57	₹11.01 Cr
14 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	1,97,529	₹415.81	₹8.21 Cr
14 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	1,95,456	₹416.25	₹8.14 Cr
14 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	1,80,990	₹419.99	₹7.60 Cr
14 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	1,80,990	₹420.20	₹7.61 Cr
21 May 2026	AJAY UPADHYAYA	Bulk	NSE	Buy	1,56,216	₹327.06	₹5.11 Cr
2 Dec 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	3,06,424	₹379.96	₹11.64 Cr
2 Dec 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	3,04,948	₹379.56	₹11.57 Cr
1 Dec 2025	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	6,95,345	₹390.07	₹27.12 Cr

1–10 of 94

1 / 10

Mr. PRAMOD KAPOOR KUMARNon-Executive - Independent Director-Chairperson
Mr. RUPESH KUMAR GUPTAExecutive Director-MD
Mr. SHAILESH KUMAR GUPTAExecutive Director
Mr. RAJENDER REDDY GANKIDINon-Executive - Independent Director
Mrs. SNEHA SANKLANon-Executive - Independent Director
Mr. SOUMEN BOSENon-Executive - Non Independent Director
Mrs. SUNITA GUPTANon-Executive - Non Independent Director
Mr. ANSH GOLASExecutive Director
Mrs. Rekha SinghCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Hariom Pipe Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

3

Final dividend23 Sept 2026 · ex-date₹0.75
Final dividend23 Sept 2025 · ex-date₹0.61
Final dividend13 Sept 2024 · ex-date₹0.6

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

94 announcementsExport CSV

7 Sept 2026, 8:13 pmAGM/EGM

NOTICE Of The 19Th Annual General Meeting.

AGM PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	22.8%	21.9%
EBITDA margin %	13.5%	13%	12.7%	12%	12.9%	12.6%
EBIT margin %	11%	11.2%	11.3%	9.1%	9.2%	8.6%
PAT margin %	6%	7.4%	7.2%	4.9%	4.6%	4.5%
Working capital
Receivable days	—	—	—	—	54	41
Inventory days	—	—	—	—	149	113
Payable days	—	—	—	—	65	31
NWC days	—	—	—	—	138	123
Leverage
Current ratio	1.62	1.96	2.12	1.68	1.45	1.68
Debt to EBITDA	2.34	1.56	3.62	2.68	2.28	1.93
Debt to equity	1.13	0.87	0.79	0.8	0.7	0.63
Interest coverage	3.8	6.2	7.1	3.4	2.9	2.9
Asset turnover	1.46	1.99	0.91	1.31	1.13	1.37
Return ratios
Return on assets %	8.7%	14.8%	6.5%	6.5%	5.2%	6.2%
Return on capital employed %	26.5%	41%	22.7%	20%	20.1%	20.8%
Return on equity %	21.4%	31.6%	12.3%	12.2%	10.8%	11.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

Date	Category	Subject	Filing
7 Sept 2026, 8:13 pm	AGM/EGM AGM	NOTICE Of The 19Th Annual General Meeting.	PDF
7 Sept 2026, 8:04 pm	AGM/EGM AGM	Intimation Of The Date 19Th Annual General Meeting (AGM), Record Date And Cut-Off Date For Remote E-Voting And E-Voting During The AGM.	PDF
3 Sept 2026, 11:55 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
2 Sept 2026, 2:58 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
2 Sept 2026, 2:49 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of The Board Meeting Held On September 02, 2026	PDF
14 Aug 2026, 5:32 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
12 Aug 2026, 7:21 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
12 Aug 2026, 7:14 pm	Result Financial Results	Unaudited Financial Results (Standalone & Consolidated) For The Quarter Ended June 30, 2026	PDF

Hariom Pipe Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

3

1

Announcements

3

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Hariom Pipe Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends3

Board meetings1

Announcements

Dividends3

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

3

1