Hariom Pipe Industries LimitedQ1 FY27 Results & Financial Update
Hariom Pipe Industries Limited: Q1 FY27 consolidated results and company financials – revenue ₹429.18 Cr, PAT ₹16.60 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Hariom Pipe Industries price & chart
Market price₹309.15
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Hariom Pipe Industries Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the first quarter of fiscal 2027, Hariom Pipe Industries reported consolidated revenue from operations of INR 429.18 crore, accompanied by total income of INR 430.54 crore. The operational performance reflected steady realization improvements even as total revenue moderated compared to sequential and year-ago periods, affected in part by temporary operational constraints at the Perundurai plant during the quarter.
Profitability for the quarter stood at an EBITDA of INR 49.92 crore, yielding an EBITDA margin of 11.59 percent. Profit before tax (PBT) reached INR 22.41 crore, while profit after tax (PAT) closed at INR 16.60 crore with a net profit margin of 3.87 percent and basic earnings per share of INR 5.36. Standalone operations recorded a revenue of INR 429.20 crore and a PAT of INR 17.40 crore.
Per-unit realizations and profitability demonstrated positive resilience, driven by an increased proportion of high-value products in the sales mix. Average selling prices rose to INR 68,034 per metric ton, while EBITDA per metric ton improved to INR 7,914. High-value offerings represented approximately 96.4 percent of total sales volume and 97.5 percent of revenue during the period.
Operational developments included the temporary suspension and subsequent restoration of power supply at the company's Perundurai unit in Tamil Nadu. Pursuant to proceedings dated July 13, 2026, from the Tamil Nadu Pollution Control Board, closure directions were suspended and power was restored immediately after the quarter end, allowing operations to recommence.
In the renewable energy segment, subsidiary Hariom Power and Energy marked a strategic milestone by commissioning its first solar PV project—a 5 MW AC / 6 MW DC installation at Rupur Tanda in Hingoli District, Maharashtra, on July 8, 2026. This asset connects to the MSEDCL grid under a 25-year power purchase agreement at a tariff of INR 2.96 per unit, initiating the company's transition toward power generation revenue.
Capital raising initiatives advanced during the quarter through a preferential warrant issue totaling INR 51.45 crore, with INR 12.86 crore received upfront as application money. Management highlights continued emphasis on working-capital discipline, debtor day optimization, and lower-cost funding structures to support ongoing operational stability.
Profit after tax was ₹16.60 Cr for the reported quarter. EPS was ₹5.36 for the reported quarter.
01 · Business model
What does Hariom Pipe Industries do?
Hariom Pipe Industries Limited operates as an integrated iron and steel manufacturer with operations spanning from sponge iron production to finished steel tubes, pipes, scaffolding, and galvanized products. The company maintains manufacturing infrastructure across Telangana, Andhra Pradesh, and Tamil Nadu, leveraging backward integration through induction furnaces to produce intermediate billets and strips.
The product portfolio serves diverse end-use sectors including housing, infrastructure, agriculture, automotive, and solar energy structures. Distribution is anchored by a network of over 900 dealers across southern and western India alongside direct B2B customer relationships, supported by specialized thin-gauge steel capabilities.
02 · Historical context
What shaped the business before this quarter
Incorporated in June 2007, the company commenced furnace operations in 2008, followed by a rolling mill and pipe mill unit in 2010, progressively establishing its integrated steel manufacturing footprint.
Expanded capabilities through the acquisition of an Anantapur sponge iron unit in 2020 and subsequent capacity enhancements across billets, HR strips, and pipe mills to secure raw material supply.
Acquired operating assets with GP/GI capacity in Tamil Nadu in 2023 and leased Ultra Pipes assets in 2025, bringing total cumulative capacity to 785,232 MTPA and establishing a presence in solar infrastructure.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹429.18 Cr |
| Total income | ₹430.54 Cr |
| Profit before tax | ₹22.41 Cr |
| Profit after tax | ₹16.60 Cr |
| EPS | ₹5.36 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Average selling price increased 15.4 percent year-over-year on a standalone basis to INR 68,034 per metric ton, supported by higher contributions from value-added products.
High-value products accounted for 96.4 percent of sales volume and 97.5 percent of revenue, led by OEM products and MS tubes.
OEM product sales reached 34,080 metric tons with an average realization of INR 80,975 per metric ton, while MS tubes contributed 26,442 metric tons to total volume.
What drove margins
Utilization of internal sponge iron, MS billets, and hot charging processes helped control core conversion costs and protect per-ton margins.
EBITDA per metric ton reached INR 7,914, comprising INR 7,579 for OEM products and INR 8,693 for integrated products.
Disciplined working capital management and lower-cost funding structures contributed to finance cost control, with quarterly finance expenses reported at INR 13.42 crore.
05 · Demand, customers & order book
Where demand is coming from
Approximately 80 percent of sales are channeled through the dealer network, with the remaining 20 percent distributed via direct B2B sales to fabricators and industrial clients.
Secured a 25-year power purchase agreement with MSEDCL for the solar power portfolio at a fixed tariff of INR 2.96 per unit.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
OEM products and MS tubes formed the core of commercial shipments, achieving robust per-ton realizations despite softer overall steel volumes.
Hariom Power progressed its 60 MW AC / 72 MW DC solar portfolio across 13 locations in Maharashtra under the PM-KUSUM scheme, establishing a secondary revenue stream.
Geography and market mix
Distribution remains concentrated across southern and western India, supported by more than 900 dealers across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Kerala, and Maharashtra.
The Perundurai unit in Erode District, Tamil Nadu, resumed normal manufacturing activities following the suspension of pollution control board closure directions post-quarter end.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total installed manufacturing capacity stands at 785,232 MTPA across five manufacturing units in Telangana, Andhra Pradesh, and Tamil Nadu.
Commissioned the initial 5 MW AC / 6 MW DC solar unit out of a total targeted portfolio of 60 MW AC / 72 MW DC.
Projects, capex and execution
Targeting the commissioning of 43 MW of solar capacity by October 2026 across 13 locations in Maharashtra.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Expanding into utility-scale solar generation under the MSKYV - PM-KUSUM scheme to capitalize on renewable energy demand and diversify cash flows.
Developing high-strength, pre-galvanized tubular sections for solar structures to replace traditional HR steel channels and reduce structural weight.
09 · Reported developments
What changed operationally
Power supply and operational status fully restored at the Perundurai plant following successful engagement with regulatory authorities.
Successful grid connection and commissioning of the first solar power plant under the 60 MW AC portfolio in Maharashtra.
10 · Pressure points & risks
What is not going smoothly
Reported year-over-year moderation in quarterly revenue and EBITDA due to temporary operational downtime during the period.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Continued focus on working capital efficiency resulted in improved debtor days and reduced inventory holding periods during the quarter.
Capital allocation & funding
Raised equity capital via a preferential warrant issue aggregating INR 51.45 crore, receiving INR 12.86 crore upfront to fund growth initiatives.
12 · Management guidance & targets
What management is targeting from here
Management highlighted a focus on volume recovery following the recommencement of Perundurai operations, margin protection through high-value product mix, disciplined capital allocation, and timely execution of the solar project portfolio.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Green Steel and Sustainability Initiatives
Emphasized the utilization of approximately 33 to 35 percent recycled steel scrap in production and zero-discharge manufacturing facilities across key units.
14 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations moved from INR 507.30 crore in Q4 FY26 to INR 429.18 crore in Q1 FY27, reflecting seasonal and operational factors.
15 · Key Q&A
The quarter, answered directly
What does Hariom Pipe Industries do?
Hariom Pipe Industries Limited operates as an integrated iron and steel manufacturer with operations spanning from sponge iron production to finished steel tubes, pipes, scaffolding, and galvanized products. The company maintains manufacturing infrastructure across Telangana, Andhra Pradesh, and Tamil Nadu, leveraging backward integration through induction furnaces to produce intermediate billets and strips.
What is the clearest takeaway from Q1 FY27?
During the first quarter of fiscal 2027, Hariom Pipe Industries reported consolidated revenue from operations of INR 429.18 crore, accompanied by total income of INR 430.54 crore. The operational performance reflected steady realization improvements even as total revenue moderated compared to sequential and year-ago periods, affected in part by temporary operational constraints at the Perundurai plant during the quarter.
What drove revenue or demand?
Average selling price increased 15.4 percent year-over-year on a standalone basis to INR 68,034 per metric ton, supported by higher contributions from value-added products.
What mattered most for margins or profitability?
Utilization of internal sponge iron, MS billets, and hot charging processes helped control core conversion costs and protect per-ton margins.
What changed operationally beyond the headline numbers?
Total installed manufacturing capacity stands at 785,232 MTPA across five manufacturing units in Telangana, Andhra Pradesh, and Tamil Nadu.
What is management guiding or targeting from here?
Management highlighted a focus on volume recovery following the recommencement of Perundurai operations, margin protection through high-value product mix, disciplined capital allocation, and timely execution of the solar project portfolio.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Solar Capacity Milestones: Track the scheduled commissioning of additional solar capacity toward the 43 MW target by October 2026.
- 02
Volume Recovery Post-Perundurai: Monitor quarterly sales volume growth and capacity utilization following the resumption of operations at the Perundurai plant.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.