Hariom Pipe Industries Reports Strong FY26 Performance with 23% Revenue and PAT Growth

Hariom Pipe Industries Reports Strong FY26 Performance with 23% Revenue and PAT Growth​

Hyderabad, May 22, 2026: Hariom Pipe Industries Limited, a vertically integrated manufacturer of steel products with a significant presence across southern and western India, announced its audited financial results for the quarter and year ended March 31, 2026.

The Company reported a robust performance in FY 2025-26, attributed to higher sales volumes, improved throughput, strong contribution from value-added products, better operating cash generation, and improved working capital discipline.

Key Financial Performance for FY26​

For the full fiscal year 2026, the company saw its Revenue from Operations reach ₹ 1,666.95 crore, marking a 23% Year-on-Year (YoY) growth compared to ₹ 1,357.05 crore in FY25. EBITDA stood at ₹ 209.42 crore, an increase of 19% YoY. Profit After Tax (PAT) also rose by 23% YoY, reaching ₹ 75.83 crore.

The key financial highlights for the year are presented below:

Quarterly Results (Q4 FY26)​

Focusing on the quarter ended March 31, 2026, the Company reported notable increases. Revenue from Operations stood at ₹ 507.27 crore, up 27% YoY from ₹ 399.70 crore in Q4 FY25. EBITDA reached ₹ 63.87 crore, with an EBITDA margin of 12.59%. Profit After Tax was ₹ 30.18 crore, representing a 75% YoY increase compared to ₹ 17.24 crore in Q4 FY25.

Business and Operational Drivers​

The Company continued strengthening its focus on value-added steel products, with these products contributing around 98% of the revenue during FY26. Management noted that the overall performance was supported by improved throughput across key manufacturing units and a sustained focus on value-added categories. Despite a competitive steel market environment, the Company maintained stable EBITDA margins, reflecting disciplined cost management and efficient utilization of available capacities.

Operational efficiency also improved during the year, with inventory days reducing from 128 days to 99 days, and receivable days decreasing from 54 days to 41 days.

Cash Flow and Balance Sheet Strength​

The financial health of the Company improved significantly during FY26. Operating cash flow rose sharply to ₹ 192.08 crore, which translates to an approximately 92% EBITDA to cash conversion. The balance sheet strengthened with improved working capital discipline, driven by reductions in inventories and trade receivables. As of March 31, 2026, the Net Debt / EBITDA ratio improved to 1.65x, and the Debt Equity Ratio stood at 0.54x.

Subsidiary Updates​

In terms of its subsidiaries, Hariom Power & Energy Private Limited, the renewable energy SPV, is executing a 60 MW AC solar power project via an LOA and PPA with MSEDCL. As of March 31, 2026, land acquisition was completed for 8 locations covering approximately 123 acres. The capacity tied up stands at 38 MW AC out of the planned 60 MW AC, and work has commenced at 6 locations. Additionally, Metal Mart Private Limited was incorporated on January 22, 2026, and is currently in the initial setup phase.

Management Commentary​

Rupesh Kumar Gupta, Managing Director of Hariom Pipe Industries Limited, commented on the results, stating, "FY 2025-26 has been a year of steady growth and improved financial discipline for Hariom Pipe Industries Limited. The Company achieved healthy revenue and volume growth, supported by higher contribution from value-added products and improved utilization across key units."

He further added that the company’s focus remains on strengthening the product portfolio, expanding market reach, improving operating efficiency, and maintaining a disciplined balance sheet. He noted that "The strong improvement in operating cash flow and reduction in working capital intensity reflect the Company's continued emphasis on quality growth and capital efficiency."

HARIOMPIPE Stock Price Movement​

On Friday, Hariom Pipe Industries Limited shares edged higher, gaining 3.09% to close at ₹344.35. The stock settled the session amidst high activity, with 692,009 shares traded during the day.