Hariom Pipe Industries Ltd. (HARIOMPIPE) AI Stock Analysis

• Market Cap: ₹17.07B
• Dividend Yield: 0.11%
• Average Volume (3M): 55.12K
• Price to Earnings (P/E): 25.2
• Beta (1Y): 1.02
• 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: 54,010
• 30 Day Avg. Volume: 55,117
• 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: ₹599.00
• Price Target Upside: 8.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 76 Outperform
• Price Target: ₹599.00 ▲(8.67% Upside)

The overall stock score is driven by strong financial performance and positive technical indicators. The company's robust revenue growth and improved profitability margins are significant strengths. However, the high P/E ratio and low dividend yield suggest potential overvaluation, which slightly offsets the positive momentum.

Hariom Pipe Industries Ltd. Business Overview & Revenue Model

Company Description

Hariom Pipe Industries Limited manufactures and sells iron and steel products. It primarily offers mild steel billets, pipes, and tubes; hot rolled coils; and scaffolding systems for various industrial applications. The company was incorporated in 2007 and is based in Hyderabad, India.

How the Company Makes Money

Hariom Pipe Industries Ltd. generates revenue primarily through the manufacture and sale of steel pipes and tubes. The company's key revenue streams include the sale of mild steel (MS) pipes, galvanized iron (GI) pipes, and other steel products. It serves a diverse clientele spanning the construction, agricultural, and industrial sectors. The company leverages its strong distribution network to reach customers across different regions, ensuring a steady demand for its products. Additionally, strategic partnerships and collaborations with distributors and suppliers play a crucial role in maintaining its market position and driving sales growth.

Hariom Pipe Industries Ltd. Financial Statement Overview

Summary

Hariom Pipe Industries shows a strong growth trajectory with substantial revenue and equity growth, improving profitability margins, and better cash flow from operations. However, the company should address high leverage and negative free cash flow to ensure sustainable long-term growth and stability.

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 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.57B	13.57B	11.53B	4.31B	6.44B	2.54B
Gross Profit	2.13B	2.45B	1.96B	1.40B	1.81B	812.80M
EBITDA	1.76B	1.75B	1.44B	588.34M	826.32M	342.83M
Net Income	617.26M	617.26M	568.00M	319.57M	462.08M	151.32M
Balance Sheet
Total Assets	11.97B	11.97B	8.80B	2.16B	7.09B	1.74B
Cash, Cash Equivalents and Short-Term Investments	507.86M	507.86M	317.90M	4.88M	1.05B	8.80M
Total Debt	4.01B	4.01B	3.72B	862.57M	2.97B	801.75M
Total Liabilities	6.24B	6.24B	4.16B	1.15B	3.34B	1.03B
Stockholders Equity	5.73B	5.73B	4.64B	1.01B	3.75B	707.89M
Cash Flow
Free Cash Flow	0.00	-272.18M	-2.26B	-7.69M	-3.23B	-134.38M
Operating Cash Flow	0.00	786.33M	49.55M	37.24M	-1.01B	104.26M
Investing Cash Flow	0.00	-857.16M	-1.82B	-41.59M	-2.22B	-234.69M
Financing Cash Flow	0.00	313.17M	743.72M	-2.10M	4.26B	120.92M

Hariom Pipe Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 551.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARIOMPIPE, the sentiment is Positive. The current price of 551.2 is above the 20-day moving average (MA) of 499.48, above the 50-day MA of 480.98, and above the 200-day MA of 439.36, indicating a bullish trend. The MACD of 16.68 indicates Negative momentum. The RSI at 68.74 is Neutral, neither overbought nor oversold. The STOCH value of 84.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
HARIOMPIPE	76 Outperform	₹17.07B	25.17		0.11%	17.40%	6.49%
KSL	73 Outperform	36.14B	13.60	13.55%	1.21%	2.03%	10.83%
GOODLUCK	70 Outperform	36.42B	21.31	12.57%	0.36%	11.91%	9.18%
VENUSPIPES	68 Neutral	28.61B	31.63	17.48%	0.07%	15.31%	-6.80%
HITECH	64 Neutral	24.64B	29.75	5.80%	0.02%	2.32%	5.26%
RAMASTEEL	55 Neutral	16.17B	74.30	6.25%	―	15.67%	-26.43%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

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.