Hariom Pipe Industries has reappointed Rupesh Kumar Gupta as Managing Director and appointed Shailesh Kumar Gupta as Joint Managing Director, subject to shareholder approval.

The Board of Directors approved these appointments during its meeting held on September 2, 2026. The resolutions require ratification by members at the company’s 19th Annual General Meeting.

Director Appointments

Rupesh Kumar Gupta, the founder and promoter, will serve a three-year term effective from January 8, 2027. He brings over two decades of experience in the steel industry.

Shailesh Kumar Gupta, co-founder and B.Com graduate, will assume the role of Joint Managing Director effective September 2, 2026. His three-year tenure begins immediately upon shareholder approval.

Remuneration Revisions

The board also recommended remuneration changes for other directors:

• Ansh Golas, Whole-time Director
• Sunita Gupta, Non-Executive Director
• Soumen Bose, Non-Executive Director

These recommendations follow inputs from the Nomination and Remuneration Committee and the Audit Committee.

Annual General Meeting

The company will convene its 19th AGM on September 30, 2026, at 12:30 pm via Video Conferencing or Other Audio-Visual Means. This aligns with Ministry of Corporate Affairs and SEBI guidelines.

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.