Hariom Pipe Industries Limited has announced the appointment of Mr. Sanjay Madanlalji Bhansali as Chief Operations Officer (COO), effective December 12, 2025. The appointment was approved by the Board of Directors through a circular resolution dated December 10, 2025, following the recommendation of the Nomination and Remuneration Committee.

Key Appointment Details

The appointment details are outlined in the company's regulatory filing:

Executive Profile and Experience

Mr. Sanjay Bhansali brings extensive industry expertise to his new role. His professional background includes:

• Total Experience: Over 35 years in the steel industry
• Core Specializations: Iron steel making, SMS operations, rolling mills, and large greenfield/brownfield project execution
• Previous Leadership Roles: CTO at Captain Steel India Ltd. and Executive Vice President (Technical & Customer Services) at Jindal Steel & Power Ltd.

Educational Qualifications

Mr. Bhansali's educational credentials include:

• Diploma in Mechanical Engineering
• Bachelor's degree in Mechanical Engineering
• Executive Leadership Program from IIM Calcutta

Regulatory Compliance

The appointment has been made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III. The company has fulfilled all disclosure requirements as mandated by SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The appointment information will also be made available on the company's official website at https://www.hariompipes.com/ . This strategic leadership addition is expected to strengthen the company's operational capabilities in the steel pipe manufacturing sector.

Hariom Pipe Industries Limited , a leading integrated steel manufacturer, has reported a robust performance for the first half of FY26, with significant growth in both volumes and revenue. The company has also made strategic moves to expand its presence in the Indian steel industry.

H1 FY26 Performance Highlights

Hariom Pipe Industries achieved impressive growth in the first half of FY26:

The company maintained a healthy EBITDA margin of 12.6%, despite a softer pricing environment. This resilience in margins underscores the strength of Hariom's integrated business model, which provides natural hedging and operational flexibility across the value chain.

Q2 FY26 Performance

The second quarter saw some softness due to planned maintenance shutdown and extended monsoons. Despite these challenges, the company recorded a 7% year-on-year growth in both volumes and value in Q2 FY26.

Strategic Expansion

Hariom Pipe Industries has signed a Memorandum of Understanding (MOU) with the Government of Maharashtra to establish a 1.5 million tonne per annum integrated steel plant at Gadchiroli. This project, valued at INR 3,135.00 crore, will be developed under the state's mega project policy and comes with substantial fiscal incentives, including GST reimbursements and power tariff support.

Key points about the expansion:

1. The project will be developed in phases, with initial focus on the finishing stage.
2. The company aims to start revenue generation from the initial investment before expanding further.
3. The entire project is expected to be completed over an 8-year period.
4. The location offers advantages in terms of raw material availability (coal and iron ore).

Future Outlook

Hariom Pipe Industries remains optimistic about stronger volume growth and improved profitability in the second half of FY26. The company maintains its guidance of 30% CAGR in volume growth for the next two years.

Management expects margins to improve as the company increases its focus on B2B and OEM segments. The company also plans to maintain its EBITDA margins and potentially increase PAT margins in the coming years.

Financial Position

The company maintains a strong financial position with:

• Debt-to-equity ratio: 0.65x
• ROCE: 21%
• ROE: 11%
• Operating cash flow: INR 40.00 crore

Hariom Pipe Industries continues to focus on disciplined capital allocation and consistent value creation for all stakeholders.

As India's infrastructure sector continues to grow, Hariom Pipe Industries appears well-positioned to capitalize on the increasing demand for steel products, while maintaining its focus on profitability and ethical business practices.