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 has uploaded the revised audio recording of its investor conference call held on May 23, 2026, to discuss the audited financial results for the quarter and year ended March 31, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was confirmed by Company Secretary Rekha Singh.

Solar Power Project: Key Details

Hariom Pipe Industries has announced a 60 MW solar power project with a total estimated cost of INR 241–245 crores. The project is being funded through a combination of INR 195 crores secured via bank loans and INR 25–30 crores in equity. As of the latest update, INR 9.56 crores have been invested in the project so far. The following table summarises the key parameters of the solar initiative:

Production from the initial 10 MW portion of the project is set to commence next month, with 38 MW currently under construction. The company is targeting full project completion by March 2027.

Management Guidance and Growth Strategy

The management emphasised that the lower volume growth recorded in FY26 was a conscious strategic decision, driven by a focus on maintaining profitability rather than pursuing aggressive volume targets. For FY27, the company is targeting sales volume growth of 20–25%, with an absolute volume target of 350,000 to 360,000 tons. Market conditions and margin preservation remain the key factors underpinning this outlook.

On the profitability front, management expects to sustain EBITDA ratios, reporting INR 7,258 per ton for FY26 and INR 7,800 per ton for Q4 FY26. The company is aiming for sustainable EBITDA margins in the range of 12.50% to 12.60%.

Conference Call Details

The investor and analyst conference call was held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audio recording of the call has been officially uploaded to the company's website and is accessible to all stakeholders. The filing was confirmed by Company Secretary Rekha Singh on behalf of the management.