Hariom Pipe Industries Ltd. (HARIOMPIPE) AI Stock Analysis

• Market Cap: ₹13.84B
• Dividend Yield: 0.14%
• Average Volume (3M): 32.68K
• Price to Earnings (P/E): 20.4
• Beta (1Y): 1.08
• Revenue Growth: 17.40%
• EPS Growth: 6.49%
• Country: IN
• Employees: 458
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 7.62
• Shares Outstanding: 30,967,289
• 10 Day Avg. Volume: 12,582
• 30 Day Avg. Volume: 32,677
• PEG Ratio: -38.28
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 0.77
• P/FCF Ratio: -38.41
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹496.00 ▲(16.45% Upside)

Hariom Pipe Industries has a solid financial foundation with strong revenue growth and improving profitability. However, technical indicators suggest a bearish trend, and the valuation is moderate with a low dividend yield. The absence of recent earnings call data and corporate events limits additional insights.

Hariom Pipe Industries Ltd. Business Overview & Revenue Model

Company Description

Hariom Pipe Industries Ltd. (HARIOMPIPE) is a prominent manufacturer and supplier in the Indian pipe industry, specializing in the production of a wide range of pipes and fittings. The company primarily operates in the sectors of construction and infrastructure, offering products such as PVC pipes, HDPE pipes, and various types of fittings that cater to agricultural, domestic, and industrial needs. With a commitment to quality and innovation, HARIOMPIPE serves a diverse clientele across the nation, contributing significantly to the growth of the infrastructure sector.

How the Company Makes Money

Hariom Pipe Industries Ltd. generates revenue through the sale of its diverse range of pipes and fittings. The company's primary revenue streams include the manufacturing and distribution of PVC and HDPE pipes, which are essential for various applications in construction, irrigation, and industrial projects. Additionally, HARIOMPIPE benefits from strategic partnerships with distributors and retailers, enhancing its market reach and sales performance. The company may also engage in export activities, further diversifying its income sources. Market demand for infrastructure development and agricultural products plays a crucial role in driving sales and overall revenue growth.

Hariom Pipe Industries Ltd. Financial Statement Overview

Summary

Hariom Pipe Industries demonstrates strong revenue and equity growth, with improving profitability margins and better cash flow from operations. However, high leverage and negative free cash flow pose risks to long-term sustainability.

Income Statement

Hariom Pipe Industries has demonstrated robust revenue growth over the years, with a notable increase from 4.31 billion in 2022 to 13.57 billion in 2025, reflecting a strong expansion trajectory. The gross profit margin has been stable, hovering around 18% over the recent year, indicating efficient cost management. The net profit margin improved to approximately 4.55% in 2025, suggesting enhanced profitability. However, there is room for improvement in EBIT and EBITDA margins, which are relatively moderate at 14.32% and 12.92% respectively.

Balance Sheet

The company exhibits a solid equity base, with stockholders' equity rising from 1.01 billion in 2022 to 5.73 billion in 2025. The debt-to-equity ratio has improved, reflecting a more balanced capital structure, though total debt remains substantial at 4.01 billion in 2025. The equity ratio has strengthened, indicating a better ability to cover liabilities with equity. However, the company should be cautious of potential risks from high leverage.

Cash Flow

Operating cash flow has improved significantly to 786 million in 2025 from negative values in previous years, indicating better cash generation from operations. However, free cash flow remains negative, primarily due to high capital expenditures, which may be indicative of growth investments. The operating cash flow to net income ratio is strong, suggesting good cash conversion, but the company should focus on turning free cash flow positive.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.75B	13.57B	11.53B	6.44B	4.31B	2.54B
Gross Profit	2.70B	2.45B	1.96B	1.81B	1.40B	812.80M
EBITDA	1.90B	1.75B	1.44B	818.86M	588.34M	349.67M
Net Income	678.23M	617.26M	568.00M	462.08M	319.57M	151.32M
Balance Sheet
Total Assets	0.00	11.97B	8.80B	7.09B	2.16B	1.74B
Cash, Cash Equivalents and Short-Term Investments	507.86M	507.86M	317.90M	1.05B	4.88M	8.80M
Total Debt	0.00	4.01B	3.72B	2.97B	862.57M	801.75M
Total Liabilities	-5.73B	6.24B	4.16B	3.34B	1.15B	1.03B
Stockholders Equity	5.73B	5.73B	4.64B	3.75B	1.01B	707.89M
Cash Flow
Free Cash Flow	0.00	-272.18M	-2.26B	-3.23B	-7.69M	-134.38M
Operating Cash Flow	0.00	786.33M	49.55M	-1.01B	37.24M	104.26M
Investing Cash Flow	0.00	-857.16M	-1.82B	-2.22B	-41.59M	-234.69M
Financing Cash Flow	0.00	313.17M	743.72M	4.26B	-2.10M	120.92M

Hariom Pipe Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 425.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARIOMPIPE, the sentiment is Negative. The current price of 425.95 is below the 20-day moving average (MA) of 462.72, below the 50-day MA of 485.01, and below the 200-day MA of 429.97, indicating a neutral trend. The MACD of -10.43 indicates Positive momentum. The RSI at 38.01 is Neutral, neither overbought nor oversold. The STOCH value of 8.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HARIOMPIPE.

Hariom Pipe Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KSL	76 Outperform	₹37.16B	14.24	―	1.17%	-0.46%	4.85%
GOODLUCK	76 Outperform	₹40.84B	23.89	―	0.32%	11.91%	9.18%
VENUSPIPES	70 Outperform	₹25.99B	28.74	―	0.04%	15.31%	-6.80%
HARIOMPIPE	65 Neutral	₹13.84B	20.41	―	0.14%	17.40%	6.49%
HITECH	64 Neutral	₹22.66B	27.35	―	0.02%	2.32%	5.26%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RAMASTEEL	56 Neutral	₹15.80B	72.58	―	―	15.67%	-26.43%

Hariom Pipe Industries Ltd. Corporate Events

Hariom Pipe Industries Announces AGM Notice Publication

Hariom Pipe Industries Ltd. announced the publication of newspaper advertisements regarding the dispatch of their 18th Annual General Meeting notice and related documents. This disclosure, in compliance with SEBI regulations, ensures transparency and keeps stakeholders informed about the company’s governance activities, potentially impacting investor relations and market perception.

Hariom Pipe Industries Announces Virtual AGM for 2025

Hariom Pipe Industries Ltd. announced the publication of a newspaper advertisement regarding the convening of its 18th Annual General Meeting, scheduled for September 30, 2025, to be held via video conferencing. This announcement signifies the company’s adherence to regulatory requirements and its adaptation to modern communication methods, potentially impacting stakeholder engagement and operational transparency.

Hariom Pipe Industries Ltd. Announces Auditor Change and Executive Remuneration Revision

Hariom Pipe Industries Ltd. announced a change in its auditors, appointing M/s. VSSK & Associates as the new Secretarial Auditors for a five-year term, pending approval at the upcoming Annual General Meeting. This strategic move is part of the company’s efforts to enhance compliance and governance standards. Additionally, the company plans to revise the remuneration of its Executive Directors, which will also be subject to member approval at the AGM. These changes reflect Hariom Pipe Industries’ proactive approach to maintaining robust corporate governance and adapting to evolving regulatory requirements, potentially impacting its operational efficiency and stakeholder confidence.

Hariom Pipe Industries Releases Q2 Financial Results

Hariom Pipe Industries Limited announced the publication of its unaudited financial results for the quarter ended June 30, 2025, in prominent newspapers. This disclosure, in compliance with SEBI regulations, highlights the company’s commitment to transparency and timely communication with stakeholders. The announcement is expected to provide insights into the company’s financial health and operational performance, potentially impacting investor confidence and market positioning.