Hariom Pipe Industries Ltd

Solar capacity addition

• Two 5 MW (AC) solar plants commissioned by Hariom Power and Energy Pvt Ltd under MSKVY 2.0.
• Locations: Jaipur Sakhara Sengaon, Hingoli and Pusegaon Sengaon, Hingoli; inject at 33/11 kV substations.
• Total commissioned capacity now 15 MW (AC).
• Regulatory disclosure under Regulation 30 of SEBI LODR.

agm details

• AGM date/time: 30 Sep 2026, 12:30 PM IST, via VC/OAVM.
• Voting window: remote e-voting 27–29 Sep 2026; record date 23 Sep 2026.

resolutions placed for approval

• Ordinary: Adopt audited standalone and consolidated financial statements for FY ended Mar 31, 2026.
• Ordinary: Re-appoint director liable to retirement by rotation.
• Ordinary: Declare final dividend on equity shares for FY 2025-26.
• Ordinary: Re-appoint Statutory Auditors M/s. R Kabra & Co. LLP.
• Ordinary: Ratify remuneration payable to Cost Auditors for FY 2027.
• Special: Re-appoint MD and approve remuneration.
• Special: Appoint Joint Managing Director and remuneration.
• Special: Revise remuneration payable to Whole-time Director.
• Special: Approve remuneration payable to Non-Executive Director.

voting status and next steps

• Voting results to be submitted to stock exchanges after Scrutinizer's report.
• Results to be placed on company website and with CDSL.

Hariom Pipe Industries Ltd – Trading Window closes from Oct 01, 2026 until 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended September 30, 2026

Meeting Details

• Date and time: September 28, 2026, 2:00 PM–3:00 PM.
• Event: Arihant Capital (Broking) – Virtual Conference.
• Format: Group meeting; Mode: Virtual.

Participants

• Key participants: Company management.

Purpose

• Purpose: Analyst/Investors meet; discussions based on publicly available information.

Financial performance

• Revenue from operations rose 23% YoY to ₹1,667 crore.
• EBITDA rose 19% to ₹209.42 crore.
• PAT increased 23% to ₹75.83 crore.
• Sales volume reached 2.89 lakh MT, up 18%.
• Value-added products accounted for 96% of total sales volumes.
• EBITDA per MT stood at ₹7,258.
• Operating cash flow improved to ₹192.08 crore.
• Net worth rose to ₹647 crore; ROCE 20.7% and ROE 11.7%.
• Debt-to-equity ratio at 0.54x; net debt-to-EBITDA 1.65x.
• Total installed capacity expanded to 7,85,232 MTPA across five facilities.
• Final dividend proposed at ₹0.75 per share (7.5%); record date 23-Sep-2026.
• 70% stake in Metal Mart Private Limited; renewable energy initiatives expanded.

Operational footprint and productivity

• Installed capacity across five plants totals 7,85,232 MTPA.
• Five manufacturing units located in Telangana, Andhra Pradesh, Tamil Nadu.
• Dealer and B2B network exceeds 900; ~80% sales via dealers.
• Value-added revenue share estimated around 98% in revenue from value-added products.
• Sales volume for FY26 was 2.89 lakh MT; 98% of revenue from value-added products.
• 60% capacity utilization target achieved; additional capacity added for future expansion.
• ~30,000 MT recycled steel used; recycled steel share ~33% of production input.
• 0 MW rooftop solar; 60 MW AC solar project under implementation with 38 MW tied up.
• CSR spend of ₹151.35 lakh in FY26; health, education, and community initiatives.

Renewable energy and growth platforms

• Hariom Power & Energy Private Limited (HPEPL) advancing a 60 MW AC solar project; 38 MW tied up.
• Land acquisition completed for 8 locations (~123 acres) as of 31-Mar-2026.
• Metal Mart Private Limited incorporated Jan 2026; Hariom holds 70% equity.
• PPA with MSEDCL under MSKVY/PM-KUSUM framework; ongoing revenue visibility on commissioning.
• Renewable energy expansion complements core steel business and supports sustainability goals.

Capital structure and liquidity

• Total borrowings stood at ₹34,527.49 Lakhs; net debt/EBITDA improved to 1.65x.
• Cash and equivalents ₹45.14 Lakhs; current ratio 1.67x.
• Operating cash flow ₹19,208.44 Lakhs; disciplined working capital management.
• Total equity ₹64,664.25 Lakhs; debt-to-equity ratio 0.54x.

Governance and management changes

• Ansh Golas appointed Whole-time Director August 8, 2025; re-designated later as needed.
• Rajender Reddy Gankidi re-appointed as Non-Executive Independent Director for a five-year term (effective 14-May-2026).
• R Kabra & Co. LLP re-appointed as Statutory Auditors for 2026-31; fee proposal ₹20 lakh for 2026-27.
• VSSK & Associates continue as Secretarial Auditors; five-year term through 2030.
• Seven Board meetings held in FY26; independent directors held meeting on 21-Mar-2026.

CSR, sustainability and ESG framework

• CSR expenditure of ₹151.34 lakh; 2% of average net profit required under CSR rules.
• CSR focus areas: health, education, child welfare and community development.
• BRSR demonstrates energy, water, waste, and governance commitments; renewal energy integration pursued.
• Zero whistleblower complaints; ISO 9001/14001/45001 certifications maintained.
• Waste management: 65% recycled/reused; Zero liquid discharge initiatives pursued.

Subsidiaries and group structure

• Hariom Power and Energy Private Limited remains a subsidiary; 60 MW solar project under implementation.
• Metal Mart Private Limited incorporated Jan 2026; Hariom holds 70%; no commercial operations by 31-Mar-2026.
• Consolidated results include both subsidiaries; non-controlling interest presented separately.

Outlook and risks

• Indian steel demand expected to stay positive with infrastructure and energy transition tailwinds.
• Long-term targets include 300 MT capacity and higher per-capita steel consumption projections.
• Risks include raw material price volatility, energy costs, regulatory changes and global trade dynamics.

AGM notice and web-link distribution

• Web-link letters sent to members without registered emails per Reg 36.
• Letters include exact navigation to access Annual Report for FY 2025-26.
• 19th AGM scheduled Sept 30, 2026 at 12:30 IST via VC/OAVM.
• Notice link to 18th AGM and Annual Report link to 2024-25 included.
• Communication to members as on Aug 28, 2026 with unregistered emails.
• Dated Sept 7, 2026; Hyderabad; signed by Rekha Singh, Company Secretary.

Overview

• Standalone BRSR for FY2025-26 covering Hariom Pipe Industries Limited.
• Main activity: manufacturing and sale of MS/GP/GI steel pipes and tubes; 100% turnover from pipes.
• Six locations domestically (5 plants, 1 office); serves 16 states and 3 union territories.
• Exports share nil.
• Reporting period: April 1, 2025 to March 31, 2026.

Key ESG Risks & Opportunities

• Supply chain price volatility risk; mitigated by vertical integration and multiple suppliers; negative financial impact.
• Climate change and GHG emissions risk; mitigated by renewable energy, recycled steel, energy efficiency; negative.
• Environmental compliance and pollution-control risk; mitigated by monitoring and corrective actions; negative.
• Water and effluent management risk; mitigated by water recycling and treatment; negative.
• Waste management & circular economy opportunity; scrap reuse reduces virgin resource needs; positive.
• Energy management & renewable energy opportunity; solar investments; positive.
• Occupational health & safety risk; mitigated by PPE, training, safety programs; negative.
• Employee retention and skill development risk; mitigated by engagement and training; negative.
• Governance and regulatory compliance risk; mitigated by board oversight and internal controls; negative.
• Community development & CSR opportunity; positive social license through local initiatives.
• Life cycle assessment not conducted; monitoring via energy and water metrics.
• Sustainable sourcing: 87% inputs sourced sustainably; 68% of value-chain partners assessed for HR/ENV criteria.

Governance & Policy Highlights

• Board oversight of ESG; Managing Director responsible for BR policy implementation.
• Dedicated Sustainability Committee being established; CSR Committee provides social oversight.
• Anti-corruption policy in place; web link provided.
• Whistleblower mechanism exists; confidentiality and retaliation protection.
• NGRBC policy training coverage: 100% for Board, KMP, employees, and workers.
• Independent external assessment not conducted.
• Policies extend to value chain partners; board-approved policies; web link.
• No material penalties or fines in FY2025-26.
• Related party policy in place; board-approved; web link provided.

Social Responsibility & Workforce

• Total workforce: 148 permanent staff and 1,096 workers.
• Women representation: Board 25%; KMP 20%.
• Return-to-work after parental leave: 100% for both groups.
• PF coverage ~74% of employees; gratuity 100%; ESI 7% of employees.
• 100% coverage for health and safety training for BoD, KMP, employees, and workers.
• Grievance mechanism in place; no employee grievances filed in FY2025-26.
• Accessibility: workplaces accessible to persons with disabilities; adherence to Rights of Persons with Disabilities Act.
• CSR spend: 151.34 lakh; health (healthcare), education and community welfare focus.
• CSR beneficiaries: dialysis program aided 1,449 people; direct medical assistance for 73.
• CSR initiatives concentrated around local communities near operations; 1,449+ beneficiaries in health-related programs.

Environmental Performance

• Total energy: 342.18 TJ; renewable share 14.69 TJ; non-renewable 327.49 TJ.
• Energy intensity: 0.93 TJ per rupee turnover; PPP-adjusted 18.98.
• Total Scope 1 emissions: 91,786 tCO2e; Scope 2: 63,797 tCO2e.
• GHG intensity: 0.93 tCO2e per turnover; PPP-adjusted 18.98.
• Scope 3 emissions: 611,373 tCO2e; intensity 0.04.
• Solar initiatives: 1.4 MW plant at Perundurai; 4.0 MW rooftop solar; 60 MW project under development.
• Water: withdraw 142,651 kl; groundwater 24,606 kl; third-party water 118,045 kl; ZLD in operation.
• ZLD: implemented to reuse water within operations.
• Waste: total 15,840 tonnes; hazardous 414; non-hazardous 15,425; recycled 6,461; reused 9,379.
• End-of-life: steel is recyclable; scrap re-enter steel recycling.

Stakeholder Engagement & Complaints

• Key stakeholder groups: employees, investors, suppliers, customers, regulators, dealers, communities.
• Engagement: ongoing with employees; periodic with investors; ongoing with other groups.
• Grievances: zero complaints filed FY2025-26 across stakeholder groups; channels available.
• Top-line engagement metrics: 80% of sales to dealers; 28.78% of dealer sales from top 10.
• 68% of value-chain partners assessed for HR/ENV criteria; 32% of partners trained on ethics and rights.

Other Notable Metrics

• Green credits: Nil in FY2025-26; no credits procured or generated.
• Related-party transactions: purchases and sales with related parties nil; loans/advances and investments fully with related parties.
• Inputs from MSMEs: 3% of purchases; 100% of inputs sourced domestically.
• Public policy: no direct advocacy; participates through industry associations like FTAPCI.
• Data privacy: no data breaches reported; cyber-risk policy in place with public web link.
• Product information: 100% of environmental, safety and usage information disclosed; no consumer surveys conducted.

Financial highlights

• Revenue from operations: ₹1,667 crore in FY25-26, up 22.8% YoY.
• EBITDA: ₹209 crore; PAT: ₹75.83 crore; margins supported by value-added mix.
• EBITDA per MT ₹7,258; operating cash flow ₹192.08 crore.

Operations & capacity

• Installed capacity: 7,85,232 MTPA across five units.
• Sales volume: 2.89 lakh MT; 96% of volumes from value-added products.
• Value-added revenue share: 98% of total revenue.

Growth & renewable energy

• 60 MW AC solar project: LOA with MSEDCL; PPA in place.
• Land for 8 locations ~123 acres; tied-up capacity 38 MW AC.
• Metal Mart Private Limited: trading platform; 70% stake; no commercial ops in FY25-26.

Capital structure & dividends

• Total debt ₹34,670.62 Lakhs; Debt-to-Equity 0.54x.
• Net worth ₹64,664.25 Lakhs (~₹647 crore); cash flow from operations ₹192.08 crore.
• Final dividend ₹0.75 per share; record date 23 Sep 2026; payout within 30 days.

Governance & ESG

• Board comprises eight directors; Ansh Golas appointed Aug 2025 as Whole-time Director.
• CRISIL ratings: LT A-/Watch Developing; ST A2+/Watch Developing.
• ISO certifications: ISO 9001:2015; ISO 14001:2015; ISO 45001:2018.

CSR & sustainability

• CSR expenditure ₹1.51 crore; focus on health, education, community welfare.
• 0 MW rooftop solar; 60 MW solar project under development.
• 33K MT recycled steel used; renewable energy generation reported.

Dividend details

• Purpose: final dividend on equity shares for FY 2025-26, Rs 0.75 per share.
• Security: equity shares.
• Record Date: 23 September 2026.
• Dividend subject to AGM approval on 30 September 2026.
• Payment will be made within statutory timelines after approval.