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Hariom Pipe Industries Ltd.
(HARIOMPIPE)
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Rating:55Neutral
Price Target:
₹371.00
▼(-5.02% Downside)
Action:Reiterated
Date:09/11/26
The score is mainly held back by financial performance: despite strong growth and manageable leverage, persistently negative free cash flow and margin compression increase execution and funding risk. Technical indicators are neutral-to-weak (negative MACD and trading below the 50-DMA), while valuation is supportive with a mid-teens P/E but limited dividend support.
Positive Factors
Revenue Growth
Sustained multi-year revenue expansion indicates continued demand for the company’s steel products and progress in scaling operations. If maintained, this growth can improve capacity utilization, broaden customer reach, and provide a durable base for future earnings development.
Negative Factors
Negative Free Cash Flow
Consistently negative free cash flow means reported profits are not translating into surplus cash after investment and working-capital needs. That raises dependence on external funding and increases sensitivity to tighter credit conditions or weaker margins during the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained multi-year revenue expansion indicates continued demand for the company’s steel products and progress in scaling operations. If maintained, this growth can improve capacity utilization, broaden customer reach, and provide a durable base for future earnings development.
Read all positive factors
Hariom Pipe Industries Ltd. (HARIOMPIPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.16B
Dividend Yield0.17%
Average Volume (3M)9.84K
Price to Earnings (P/E)16.2
Beta (1Y)0.80
Revenue Growth10.87%
EPS Growth1.30%
CountryIN
Employees458
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)22.18
Shares Outstanding30,967,289
10 Day Avg. Volume8,866
30 Day Avg. Volume9,839
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)1.32
Price to Sales (P/S)0.51
P/FCF Ratio-40.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hariom Pipe Industries Ltd. Business Overview & Revenue Model
Company Description
Hariom Pipe Industries Limited specializes in the production and distribution of a diverse array of iron and steel goods. Their primary product line includes mild steel billets, various pipes and tubes, hot rolled coils, and complete scaffolding s...
How the Company Makes Money
Hariom Pipe Industries Ltd. primarily makes money by manufacturing steel products and selling them to customers, earning revenue based on the volumes shipped and the realized selling prices per product category. The company’s core revenue stream i...
Hariom Pipe Industries Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.37B | 16.67B | 13.57B | 11.53B | 6.44B | 4.31B |
| Gross Profit | 2.40B | 1.71B | 2.45B | 1.96B | 1.81B | 1.40B |
| EBITDA | 2.06B | 2.23B | 1.75B | 1.44B | 818.86M | 561.19M |
| Net Income | 687.03M | 757.08M | 617.26M | 568.00M | 462.08M | 319.57M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 12.20B | 11.97B | 8.80B | 7.09B | 2.16B |
| Cash, Cash Equivalents and Short-Term Investments | 28.93M | 28.93M | 507.86M | 317.90M | 1.05B | 4.88M |
| Total Debt | 0.00 | 4.04B | 4.01B | 3.72B | 2.97B | 862.57M |
| Total Liabilities | -6.49B | 5.71B | 6.24B | 4.16B | 3.34B | 1.15B |
| Stockholders Equity | 6.49B | 6.47B | 5.73B | 4.64B | 3.75B | 1.01B |
Cash Flow | ||||||
| Free Cash Flow | -178.27M | -208.59M | -272.18M | -2.26B | -3.23B | -7.69M |
| Operating Cash Flow | 406.82M | 1.35B | 786.33M | 49.55M | -1.01B | 37.24M |
| Investing Cash Flow | -288.80M | -1.43B | -857.16M | -1.82B | -2.22B | -41.59M |
| Financing Cash Flow | -322.07M | -149.03M | 313.17M | 743.72M | 4.26B | -2.10M |
Hariom Pipe Industries Ltd. Technical Analysis
Negative
390.60
Price Trends
376.01
Negative
373.12
Negative
365.36
Negative
Market Momentum
-3.58
Negative
47.78
Neutral
64.48
Neutral
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 390.6 is above the 20-day moving average (MA) of 352.75, above the 50-day MA of 376.01, and above the 200-day MA of 365.36, indicating a neutral trend. The MACD of -3.58 indicates Negative momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 64.48 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹199.43B | 30.46 | ― | 0.64% | -8.57% | -62.05% | |
65 Neutral | ₹65.03B | 31.66 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹196.83B | 45.52 | ― | 0.36% | -16.30% | -24.14% | |
63 Neutral | ₹41.84B | 40.22 | ― | 0.07% | 21.73% | 13.47% | |
58 Neutral | ₹15.51B | 20.48 | ― | 0.03% | 61.15% | -9.11% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹11.16B | 16.19 | ― | 0.17% | 10.87% | 1.30% |
* General Sector Average
IN:HARIOMPIPE
Hariom Pipe Industries Ltd.
360.25
-168.20
-31.83%
IN:HITECH
Hi-Tech Pipes Ltd.
76.37
-27.82
-26.70%
IN:JINDALSAW
Jindal Saw Limited
311.85
102.48
48.95%
IN:MANINDS
Man Industries (India) Limited
867.00
451.00
108.41%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,808.15
410.51
17.12%
IN:VENUSPIPES
Venus Pipes & Tubes Ltd.
2,019.80
702.76
53.36%
Hariom Pipe Industries Ltd. Corporate Events
Hariom Pipe Sets Record Date for FY26 Final Dividend
Sep 7, 2026
Hariom Pipe Industries Ltd. has announced that its board recommended a final dividend of Rs 0.75 per equity share, equivalent to 7.50% on a face value of Rs 10, for the financial year 2025-26. The payout is contingent on shareholder approval at th...
Hariom Pipe Schedules 19th AGM via Virtual Platform, Publishes Regulatory Notices
Sep 3, 2026
Hariom Pipe Industries Ltd has announced that its 19th Annual General Meeting will be held on September 30, 2026, via video conferencing and other audio-visual means, in line with regulatory provisions for virtual shareholder meetings. The company...
Hariom Pipe Investors Clear All Resolutions at Virtual EGM
Jun 17, 2026
Hariom Pipe Industries Ltd. held an Extraordinary General Meeting on June 16, 2026, conducted via video conferencing and other audio-visual means in compliance with Indian corporate governance and listing regulations. The company submitted to NSE ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.