Hariom Pipe Industries Q2 FY2026 Results: 7% Revenue Growth YoY but Profit Declines 34% Sequentially Amid Project Expansion Plans

Hariom Pipe Industries Q2 FY2026 Financial Results

Hariom Pipe Industries Limited (NSE: HARIOMPIPE) announced its financial results for the quarter ended 30 September 2025 (Q2 FY26). The company reported modest revenue growth but lower profit compared to both the previous quarter and the same quarter last year.

Stock Information

As of 13 November 2025 (10:34 a.m.):

• Current Price: ₹389
• Today’s Change: -7.22%
• Market Cap: ₹1,204 Crores
• High / Low (₹): 595 / 301
• Stock P/E: 19.3
• Industry P/E: 22.6
• Book Value: ₹195
• Dividend Yield: 0.16%
• ROCE: 14.1%
• ROE: 11.9%
• Face Value: ₹10
• EPS (TTM): ₹20.2
• Debt to Equity: 0.69
• Debt: ₹418 Crores
• PEG Ratio: 0.72

Q2 FY2026 Financial Highlights

Results Summary

Hariom Pipe Industries reported revenue of ₹336 crore in Q2 FY26, representing a 7% year-on-year increase compared with ₹314 crore in Q2 FY25. However, on a quarter-on-quarter basis, revenue declined 27% from ₹461 crore in Q1 FY26.

EBITDA stood at ₹42.7 crore, slightly higher than ₹42.4 crore a year earlier, indicating stable operating performance. Net Profit (PAT) came in at ₹10.4 crore, a decline of 34% YoY and 56% QoQ, primarily due to higher expenses and sequential moderation in realizations. Earnings per share (EPS) also fell to ₹3.36 from ₹5.09 in Q2 FY25 and ₹7.62 in Q1 FY26.

The company remains profitable with a ROE of 11.9% and ROCE of 14.1%, while maintaining a moderate debt-to-equity ratio of 0.69.

Notes from Financial Statement

1. The consolidated unaudited results for Q2 FY26 were prepared in accordance with SEBI (LODR) Regulations, 2015, reviewed by the Audit Committee, and approved by the Board of Directors on 12 November 2025. 2. Statutory Auditors have issued a limited review report with an unmodified conclusion. 3. Comparative Q2 FY25 figures represent standalone results and are not directly comparable with current consolidated numbers. 4. During the quarter, the company signed an MoU with the Government of Maharashtra to establish a 1.5 MTPA integrated steel plant at Gadchiroli under the State’s Mega Project Policy, with a proposed investment of ₹3,13,500 lakhs (₹3,135 Cr). The project will be executed in phases, focusing on value-added and engineering-grade products.

About Company

Hariom Pipe Industries Limited is engaged in manufacturing a wide range of high-quality HR Pipes, GI Pipes, GP Pipes, MS Pipes, HR Coils, and Billets. Established in 2007 by Mr. Roopesh Kumar Gupta, the company carries forward the legacy of the late Shri Hariom Gupta Ji, a pioneer in India’s steel industry since 1962.

The company operates advanced steel and pipe manufacturing facilities across Telangana, Tamil Nadu, and Andhra Pradesh, with backward integration through a sponge iron unit in Ananthapur.

Product Portfolio

Hariom manufactures:

• Mild Steel (MS) Billets
• Hot Rolled (HR) and Cold Rolled (CR) Coils
• Pre-Galvanized (GP) and Galvanized Iron (GI) Pipes
• Scaffolding Systems and Structural Sections

Its products, marketed under “HARIOM” and “HPIL” brands, adhere to Bureau of Indian Standards (BIS) norms. The company offers:

• Square hollow sections: 12x12 mm to 150x150 mm (0.50 mm to 6.00 mm thickness)
• Rectangular sections: 25x12 mm to 200x100 mm (0.60 mm to 6.00 mm)
• Circular pipes: 12NB to 175NB

The firm maintains a strong presence in South and Western India, supplying key infrastructure, industrial, and construction sectors.

Source

For detailed financial statements, refer to the company’s official filing on BSE: https://www.bseindia.com/xml-data/corpfiling/AttachLive/b329dbcc-e736-41b5-800f-5d869feb76b8.pdf

*Data extracted from official BSE filing | Quarter ended September 30, 2025*