Hariom Pipe Industries Limited has scheduled an Extra-Ordinary General Meeting (EGM) on June 16, 2026, to seek shareholder approval for the issuance of warrants on a preferential basis. The meeting will be conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM) at 12:30 PM IST. The company aims to raise ₹51.45 crore through this issuance to meet incremental working capital requirements.

Preferential Allotment of Warrants

The primary agenda item is the issuance of up to 15,00,000 convertible warrants to persons belonging to the promoter category. Each warrant is convertible into one fully paid-up equity share with a face value of ₹10. The issue price has been fixed at ₹343 per warrant, comprising a premium of ₹333. The total issue size aggregates to ₹51,45,00,000.

The proposed allottees include Rupesh Kumar Gupta and Shailesh Kumar Gupta, who have been offered 6,20,000 warrants each, and Parul Gupta and Isha Gupta, who have been offered 1,30,000 warrants each. The tenure of the warrants will not exceed 18 months from the date of allotment.

Financial Details and Utilization

The company intends to utilize the entire proceeds of the preferential issue to meet incremental working capital requirements within 24 months from the date of allotment. An amount equivalent to 25% of the consideration, amounting to ₹12,86,25,000, will be payable at the time of allotment of warrants. The balance 75%, totaling ₹38,58,75,000, will be paid at the time of exercise of the option to convert warrants into equity shares.

The following table outlines the details of the proposed allotment:

Other Agenda Items

Shareholders will also consider alterations to the Articles of Association (AoA) to insert clauses regarding the increase of subscribed share capital through the conversion of debentures or loans. Additionally, the EGM will seek approval to authorize the Board to convert debt into equity or other capital in the event of a default by the company, subject to applicable laws and lender terms.

E-Voting and Meeting Details

Remote e-voting will commence on June 13, 2026, at 9:00 AM IST and conclude on June 15, 2026, at 5:00 PM IST. The cut-off date for determining eligibility for e-voting and attending the meeting is June 9, 2026. The notice and explanatory statement are available on the company’s website.

Hariom Pipe Industries Limited has reported its audited financial results for the quarter and year ended March 31, 2026. The company recorded a standalone net profit of ₹30.18 crore for the quarter ended March 31, 2026, compared to ₹17.24 crore in the corresponding period of the previous year. For the full fiscal year 2026, the net profit stood at ₹75.83 crore, a 23% increase from ₹61.73 crore in FY25. Revenue from operations for the year ended March 31, 2026, rose to ₹1,666.95 crore from ₹1,357.05 crore in the previous year. The board has recommended a final dividend of ₹0.75 per equity share of face value ₹10 each for the financial year ended March 31, 2026, subject to shareholder approval.

Q4 Performance Highlights

The company's quarterly performance reflected strong year-on-year growth across key metrics. Q4 revenue stood at ₹507.27 crore compared to ₹399.70 crore in the same period of the previous year. EBITDA for the quarter stood at ₹63.87 crore versus ₹48.80 crore in the corresponding quarter, with the EBITDA margin expanding to 12.59% from 12.22% year-on-year. The following table summarises the key Q4 metrics:

Full-Year Financial Performance

The company's total income for FY26 increased to ₹1,680.15 crore from ₹1,359.94 crore in the previous year. Total expenses for the year were reported at ₹1,576.28 crore, up from ₹1,276.84 crore in FY25. The basic earnings per share (EPS) for the year improved to ₹24.49 from ₹20.25 in the prior year. Operating cash flow improved significantly to ₹192.08 crore, translating into approximately 92% EBITDA to cash conversion. The table below presents the full-year financial summary:

Operational and Corporate Developments

The company's performance during FY26 was supported by improved throughput across key manufacturing units and a continued focus on value-added products, which contributed around 98% of revenue. Working capital discipline strengthened, with inventory days reducing from 128 days to 99 days and receivable days reducing from 54 days to 41 days. Net Debt to EBITDA improved to 1.65x, while the Debt Equity Ratio stood at 0.54x as of March 31, 2026.

The Board of Directors approved the re-appointment of M/s. R Kabra & Co, LLP as Statutory Auditors for a second term of five years, subject to shareholder approval. Additionally, the board approved the re-appointment of M/s. Ravi Ladia & Co. as Internal Auditors for the financial year 2026-27. Mr. Yash Gupta has been re-designated as Vice President (VP) – Sponge Division as Senior Management Personnel effective May 22, 2026. The statutory auditors issued an audit report with an unmodified opinion on the standalone and consolidated financial results.