Hariom pipe industries has notified stock exchanges regarding a revision in its credit ratings by CRISIL Ratings Limited. The company informed both the National Stock Exchange of India and BSE Limited about the rating changes for its banking facilities on April 15, 2026.

Credit Rating Revisions

CRISIL Ratings Limited has assigned revised ratings for the company's banking facilities, moving both categories to 'Watch Developing' status. The rating agency has updated its assessment of the company's creditworthiness across different facility types.

The revision affects both long-term and short-term banking facilities. For fund-based long-term facilities, the rating has been changed from CRISIL A-/Stable to CRISIL A-/Watch Developing. Similarly, non-fund based short-term facilities have been revised from CRISIL A2+ to CRISIL A2+/Watch Developing.

Regulatory Compliance

The intimation was made pursuant to Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory framework requires listed companies to promptly disclose material information, including credit rating changes, to ensure transparency for investors and market participants.

Company Secretary and Compliance Officer Rekha Singh communicated the rating revision to the listing departments of both stock exchanges. The notification was digitally signed and submitted on April 15, 2026, maintaining compliance with the prescribed disclosure timeline under SEBI regulations.

Hariom Pipe Industries Limited has submitted the voting results and scrutinizer's report to stock exchanges on April 8, 2026, following the successful completion of its postal ballot process. All three key resolutions were approved by shareholders through remote e-voting, with the company fulfilling its regulatory obligations under SEBI (LODR) Regulations, 2015.

Postal Ballot Process Overview

The postal ballot was conducted for 55152 shareholders as of the record date of February 27, 2026. The company dispatched notices to 53019 members via email on March 7, 2026, with the voting period extending from March 9 to April 7, 2026. The process was overseen by CS Vinod Sakaram from VSSK & Associates as the appointed scrutinizer.

Resolution Results

Director Re-appointment (Special Resolution)

The first resolution concerning the re-appointment of Mr. Rajender Reddy Gankidi (DIN: 09165223) as Non-Executive Independent Director for a second five-year term received overwhelming support from 122 voters.

Related Party Transaction - Solar Power Project (Ordinary Resolution)

The second resolution approved material related party transactions with subsidiary Hariom Power and Energy Private Limited (HPEPL) to support solar power project development, receiving approval from 111 voters.

Related Party Transaction - Operational Efficiency (Ordinary Resolution)

The third resolution approved material related party transactions with subsidiary Metal Mart Private Limited (MMPL) aimed at improving operational efficiency and enabling mega subsidy benefits, also receiving approval from 111 voters.

Regulatory Compliance and Strategic Impact

The postal ballot process adhered to Section 110 of the Companies Act, 2013, and SEBI (LODR) Regulations, 2015. The scrutinizer confirmed that all votes cast were valid and the resolutions passed with requisite majority. For resolutions involving related party transactions where promoters had interests, related parties abstained from voting as required under Regulation 23(4).

The approved resolutions reflect the company's strategic focus on sustainable growth through renewable energy initiatives and operational excellence. The solar power project transaction with HPEPL supports the company's long-term vision of green steel manufacturing and carbon footprint reduction, while the MMPL transaction is designed to enhance market penetration and enable access to government subsidy benefits including GST reimbursement.