Hariom Pipe Industries Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 19 Jul 2026 | Industrial Products | Market Cap: ₹1.1K Cr

Hariom Pipe Industries targets around 30% year-on-year volume growth for FY26 and expects this momentum to continue in coming years. The company anticipates around 30% volume growth year-on-year for FY26 and continuing 30-35% CAGR growth over the next two years.

From Hariom Pipe Industries Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹348

Market Cap

₹1.1K Cr

P/E Ratio

15.7

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Hariom Pipe Industries Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹507 Cr, net profit ₹30 Cr.

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📊 Revenue & Sales Performance

- Hariom Pipe Industries targets around 30% year-on-year volume growth for FY26 and expects this momentum to continue in coming years. - Q1 FY26 sales volumes grew 35% YoY to 78,221 metric tons, exceeding initial volume growth targets. - The company anticipates further multiplication of volume growth in coming months, particularly with expansion in B2B sales and OEM partnerships. - Q4 guidance includes a volume growth CAGR of 30-35% over the next 2 years. - Increasing share of value-added products and entry into engineering segments are expected to drive higher profitability and margins. - Expansion readiness and capacity enhancements allow Hariom to capitalize on emerging market opportunities swiftly. - Growth also expected from new solar structure manufacturing orders as trial production develops and customer base expands. Overall, Hariom Pipe Industries projects sustained strong volume and revenue growth backed by diversified product offerings and increasing OEM engagements.

📈 Profitability & Margins

→The company anticipates around 30% volume growth year-on-year for FY26 and continuing 30-35% CAGR growth over the next two years.
→EBITDA per ton stood at INR7,362 in Q1 FY26, supported by a 9% increase in selling prices and controlled operational expenses.
→Profitability is expected to improve due to a strategic focus on value-added products with higher margins and expansion into engineering segments.
→PAT for Q1 was INR23.61 crore, up 35% year-on-year and 37% sequentially, with EPS rising to INR7.63, indicating robust profit growth.
→Expansion in solar structure manufacturing and growing OEM business are expected to contribute positively to margins and earnings.
→The company maintains confidence in sustaining volume growth, margin stability, and operational efficiency to meet FY26 targets.
→Value-added product sales contribute 98% of revenue, supporting margin improvement and future earnings growth.

See what Hariom Pipe Industries Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

- No additional CapEx planned this financial year apart from regular operational CapEx in the steel industry (Page 10). - Keen interest in setting up and expanding existing assets; ready to expand whenever an opportunity arises (Page 10). - Solar power project under progress with a PPA signed for 60 MW at INR 2.96/unit, completion deadline September 2026 (Page 8). - Solar project involves leasing land (29 years), not purchase; total CapEx expected below INR 240 crores (Page 14). - The solar plant uses fixed solar modules with expected PLF details not specified but project proceeding as planned (Page 6-8). - Trial production started for solar structures; volume expected to grow once customer base stabilizes (Page 7, 17-18). Overall, focus on operational CapEx and strategic growth in solar and value-added product lines without major new CapEx beyond the solar project in the near term.

💰 Fundraising & Capital Structure

→No explicit mention of new fundraising through equity or debt in the provided transcript.
→Current total borrowings stand at INR 363.70 crores as of June 30.
→The company has a long-term debt repayment schedule; long-term debt expected to become negligible in the next 2 years.
→Hariom Pipe Industries is generating substantial cash flow and is in a good financial position with positive metrics such as net debt-to-EBITDA.
→No plans for any major CapEx apart from routine operational CapEx and keen interest in setting up existing assets.
→Expansion will be pursued opportunistically whenever a suitable opportunity arises.
→No indication of fresh equity issuance or debt raising for current projects mentioned.

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📋 Order Book & Pipeline

→Trial orders for solar structures are approximately 200 tons per month, expected to multiply in the coming months.
→New trial orders are continuously being received on a monthly basis, with some customers already satisfied and demanding ongoing business.
→The company is in talks for new OEM contracts, but no new contract is signed yet; expansions in the engineering segment with higher profitability are planned.
→Continuous addition is happening on a monthly basis in the B2B segment, indicating an increasing order book gradually.
→Customers' demand is diversified across products, with a shift towards value-added products to improve margins.
→Long-term demand and supply consistency are expected to enhance order stability, particularly in the B2B channel alongside dealer models.

Key Metrics

What Hariom Pipe Industries Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Hariom Pipe Industries Ltd Q1 FY26 results?

What is Hariom Pipe Industries Ltd share price analysis?

Hariom Pipe Industries Ltd currently shows a neutral. The stock trades at a P/E of 15.7 with a market cap of ₹1,090 Cr. Investors should review the full earnings analysis for detailed insights.

Is Hariom Pipe Industries Ltd planning capital expenditure?

No additional CapEx planned this financial year apart from regular operational CapEx in the steel industry (Page 10).

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.