Hariom Pipe Industries Ltd. (HARIOMPIPE) AI Stock Analysis

• Market Cap: ₹12.42B
• Dividend Yield: 0.17%
• Average Volume (3M): 32.68K
• Price to Earnings (P/E): 19.9
• Beta (1Y): 1.06
• Revenue Growth: 17.98%
• EPS Growth: -0.62%
• Country: IN
• Employees: 458
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 3.36
• Shares Outstanding: 30,967,289
• 10 Day Avg. Volume: 12,582
• 30 Day Avg. Volume: 32,677
• PEG Ratio: -38.28
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 0.77
• P/FCF Ratio: -38.41
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ₹424.00 ▲(7.26% Upside)

Hariom Pipe Industries has a solid financial performance with strong revenue and equity growth, but faces challenges with high leverage and negative free cash flow. The technical analysis indicates a bearish trend, and the valuation is fair but not particularly attractive due to a low dividend yield. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market expansion and product demand, supporting long-term business sustainability.

Profitability Margins

Improved profitability margins suggest efficient cost management and enhanced operational performance, contributing to financial health.

Operating Cash Flow

Improved operating cash flow reflects better cash generation from operations, enhancing liquidity and financial flexibility.

Negative Factors

High Leverage

High leverage poses risks to financial stability, potentially limiting the company's ability to invest in growth and weather economic downturns.

Negative Free Cash Flow

Negative free cash flow can constrain investment capacity and necessitate external financing, impacting long-term financial health.

Moderate EBIT and EBITDA Margins

Moderate margins may limit profitability potential, requiring efficiency improvements to enhance competitive positioning and profitability.

Hariom Pipe Industries Ltd. Business Overview & Revenue Model

Company Description

Hariom Pipe Industries Limited manufactures and sells iron and steel products. It primarily offers mild steel billets, pipes, and tubes; hot rolled coils; and scaffolding systems for various industrial applications. The company was incorporated in 2007 and is based in Hyderabad, India.

How the Company Makes Money

Hariom Pipe Industries Ltd. generates revenue through the sale of its diverse range of pipes and fittings. The company's primary revenue streams include the manufacturing and distribution of PVC and HDPE pipes, which are essential for various applications in construction, irrigation, and industrial projects. Additionally, HARIOMPIPE benefits from strategic partnerships with distributors and retailers, enhancing its market reach and sales performance. The company may also engage in export activities, further diversifying its income sources. Market demand for infrastructure development and agricultural products plays a crucial role in driving sales and overall revenue growth.

Hariom Pipe Industries Ltd. Financial Statement Overview

Summary

Hariom Pipe Industries shows a strong growth trajectory with substantial revenue and equity growth, improving profitability margins, and better cash flow from operations. However, the company should address high leverage and negative free cash flow to ensure sustainable long-term growth and stability.

Income Statement

Hariom Pipe Industries has demonstrated robust revenue growth over the years, with a notable increase from 4.31 billion in 2022 to 13.57 billion in 2025, reflecting a strong expansion trajectory. The gross profit margin has been stable, hovering around 18% over the recent year, indicating efficient cost management. The net profit margin improved to approximately 4.55% in 2025, suggesting enhanced profitability. However, there is room for improvement in EBIT and EBITDA margins, which are relatively moderate at 14.32% and 12.92% respectively.

Balance Sheet

The company exhibits a solid equity base, with stockholders' equity rising from 1.01 billion in 2022 to 5.73 billion in 2025. The debt-to-equity ratio has improved, reflecting a more balanced capital structure, though total debt remains substantial at 4.01 billion in 2025. The equity ratio has strengthened, indicating a better ability to cover liabilities with equity. However, the company should be cautious of potential risks from high leverage.

Cash Flow

Operating cash flow has improved significantly to 786 million in 2025 from negative values in previous years, indicating better cash generation from operations. However, free cash flow remains negative, primarily due to high capital expenditures, which may be indicative of growth investments. The operating cash flow to net income ratio is strong, suggesting good cash conversion, but the company should focus on turning free cash flow positive.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.75B	13.57B	11.53B	6.44B	4.31B	2.54B
Gross Profit	2.70B	2.45B	1.96B	1.81B	1.40B	812.80M
EBITDA	1.90B	1.75B	1.44B	818.86M	561.19M	349.67M
Net Income	678.23M	617.26M	568.00M	462.08M	319.57M	151.32M
Balance Sheet
Total Assets	0.00	11.97B	8.80B	7.09B	2.16B	1.74B
Cash, Cash Equivalents and Short-Term Investments	507.86M	507.86M	317.90M	1.05B	4.88M	8.80M
Total Debt	0.00	4.01B	3.72B	2.97B	862.57M	801.75M
Total Liabilities	-5.73B	6.24B	4.16B	3.34B	1.15B	1.03B
Stockholders Equity	5.73B	5.73B	4.64B	3.75B	1.01B	707.89M
Cash Flow
Free Cash Flow	0.00	-272.18M	-2.26B	-3.23B	-7.69M	-134.38M
Operating Cash Flow	0.00	786.33M	49.55M	-1.01B	37.24M	104.26M
Investing Cash Flow	0.00	-857.16M	-1.82B	-2.22B	-41.59M	-234.69M
Financing Cash Flow	0.00	313.17M	743.72M	4.26B	-2.10M	120.92M

Hariom Pipe Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 395.30
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARIOMPIPE, the sentiment is Neutral. The current price of 395.3 is above the 20-day moving average (MA) of 372.40, above the 50-day MA of 378.04, and below the 200-day MA of 420.60, indicating a neutral trend. The MACD of 9.06 indicates Negative momentum. The RSI at 61.22 is Neutral, neither overbought nor oversold. The STOCH value of 80.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:HARIOMPIPE.

Hariom Pipe Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KSL	76 Outperform	₹30.67B	11.76	―	1.36%	-0.46%	4.85%
GOODLUCK	76 Outperform	₹36.59B	21.99	―	0.38%	9.57%	3.24%
VENUSPIPES	70 Outperform	₹23.80B	25.43	―	0.08%	17.45%	-7.82%
HARIOMPIPE	66 Neutral	₹12.42B	19.87	―	0.17%	17.98%	-0.62%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
HITECH	61 Neutral	₹17.71B	21.93	―	0.03%	9.05%	-4.65%
RAMASTEEL	55 Neutral	₹14.32B	71.37	―	―	14.51%	-30.02%