Hariom Pipe Industries submitted a revised Annual Report for FY26 to stock exchanges on September 11, 2026, to correct inadvertent typographical and typesetting errors in the version filed earlier in September. The company confirmed that the revisions are purely clerical and have no impact on financial statements, figures, or resolutions.

Revised filing details

The revised report was submitted following the initial filing of the Annual Report and the Notice of the 19th Annual General Meeting on September 7, 2026. Rekha Singh, Company Secretary and Compliance Officer, certified that the corrections do not alter any substantive disclosures contained in the original document. The updated report has been uploaded to the company's website and sent electronically to members.

FY 2025-26 financial performance

The company delivered strong financial results, with revenue from operations growing 23% to ₹1,666.95 crore and EBITDA rising 19% to ₹209.43 crore. Profit after tax increased 23% to ₹75.83 crore. Sales volume reached 2.89 lakh MT, up 18% year-on-year, supported by higher throughput and continued market penetration.

Operating cash flow improved to ₹19,208.44 lakhs, reflecting stronger working capital discipline. Net worth increased to ₹647 crore, with ROCE at 20.71% and ROE at 11.73%. The debt-to-equity ratio improved to 0.54x.

Director appointments and AGM agenda

The Board, at its meeting held on September 2, 2026, approved the re-appointment of Rupesh Kumar Gupta as Managing Director for a three-year term effective January 8, 2027, and the appointment of Shailesh Kumar Gupta as Joint Managing Director effective September 2, 2026, both subject to shareholder approval at the 19th AGM.

The 19th AGM is scheduled for September 30, 2026 at 12:30 pm via Video Conferencing or Other Audio-Visual Means, in accordance with MCA and SEBI guidelines. The record date for the proposed final dividend of ₹0.75 per equity share is September 23, 2026.

The AGM agenda also includes re-appointment of Mrs. Sunita Gupta as a director liable to retire by rotation, re-appointment of M/s. R Kabra & Co. LLP as statutory auditors for a second five-year term, ratification of cost auditor remuneration, revision in remuneration for Ansh Golas as Whole-time Director, and approval of remuneration for Mrs. Sunita Gupta as Non-Executive Director.

Operational highlights

Total installed manufacturing capacity increased from 7,01,232 MTPA to 7,85,232 MTPA during FY 2025-26, following expansion of MS Tubes capacity at Mahabubnagar from 1,32,000 MTPA to 2,16,000 MTPA. Value-added products contributed 96% of total sales volume. The dealer and B2B customer network expanded to over 900 across Southern and Western India.

The company's 60 MW AC solar power project progressed through subsidiary Hariom Power and Energy Private Limited, with land acquisition completed for eight locations covering approximately 123 acres as of March 31, 2026, and capacity tied up at 38 MW AC. A 5 MW AC solar project was commissioned at Hingoli District, Maharashtra on July 8, 2026.

Credit rating and governance

CRISIL Ratings revised the company's long-term fund-based rating to CRISIL A-/Watch Developing from CRISIL A-/Stable, while the short-term non-fund-based rating was maintained at CRISIL A2+/Watch Developing. The statutory auditors issued an unmodified opinion on both standalone and consolidated financial statements for FY 2025-26.

Hariom Pipe Industries reported a decline in profitability and revenue for the first quarter of FY27, with net profit falling 26.3% year-on-year to ₹1,736.36 million on a standalone basis. The capital goods manufacturer’s topline contracted by approximately 6.7% to ₹43,122.81 million, reflecting softer operational performance compared to the same period last year. The company’s board of directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, on August 12, 2026.

Financial Performance

The company saw its earnings before interest, tax, depreciation, and amortisation (EBITDA) drop to ₹4,992.16 million from ₹5,758.38 million in the corresponding quarter of the previous fiscal. This decline was accompanied by a compression in operating margins, which narrowed to 11.58% from 12.45% year-ago. On a consolidated basis, revenue stood at ₹43,054.38 million, with EBITDA at ₹4,989.78 million and net profit at ₹1,659.78 million.

What the Numbers Show

The divergence between the revenue decline (-6.7%) and the sharper fall in net profit (-26.3%) indicates significant margin pressure during the quarter. While top-line growth slowed, the contraction in EBITDA margin by 87 basis points suggests that cost efficiencies or pricing power did not fully offset input cost pressures or volume declines. This operating leverage worked against the company, amplifying the impact of lower sales on the bottom line. Basic earnings per share (EPS) fell to ₹5.61 from ₹7.63 in the previous year, aligning with the broader trend of compressed profitability across both standalone and consolidated structures.