Hariom Pipe Industries Ltd

Hariom Pipe Industries Expands with New Steel Plant & Reports Steady Growth 📈

- Hariom Pipe Industries reported 7% growth in volumes and value in Q2 FY26 vs. Q2 FY25, despite maintenance shutdowns and monsoons.

- H1 FY26 sales volume reached 1.38 lakh metric tonnes (21% YoY growth), with revenue at ₹797 crore (also up 21% YoY).

- EBITDA margin stable at 12.6% in H1 FY26, with EBITDA at ₹100 crore and PAT at ₹34 crore.

- Strong balance sheet: Debt-to-equity ratio at 0.65x, ROCE at 21%, and ROE at 11%.

- Signed MOU with Maharashtra govt. for a 1.5M ton/year steel plant in Gadchiroli, backed by fiscal incentives.

- Expects stronger H2 FY26 growth, targeting 30% volume growth for FY26 with improved B2B/OEM margins.

- Value-added products now make up 97% of sales, with margins ranging ₹7,000–₹11,300 per tonne.

- Focus on automation & quality upgrades in MS tubes; no major CapEx planned for FY26–27.

- Exploring solar sector opportunities (supplying structures) but not entering full EPC contracts.