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Hariom Pipe Industries Ltd

| Quarterly Financial Results Q3 FY 2025-26

BULLISH SENTIMENT

Report Source

⬤7th Feb 26

Summary : Hariom Pipe Industries reported strong Q3 and 9M FY26 financial results with increased revenue and profit, while evaluating new labour code impacts.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Major expenses include cost of materials consumed, employee benefits, finance costs, depreciation, power and fuel.
  2. Standalone Revenue from operations: Q3 FY26 at 36,285.39 lakhs, 9M FY26 at 1,15,968.53 lakhs.
  3. Consolidated Revenue from operations: Q3 FY26 at 36,285.39 lakhs, 9M FY26 at 1,15,968.53 lakhs.
  4. Standalone Net Profit for Q3 FY26: 1,161.47 lakhs; 9M FY26: 4,564.43 lakhs.
  5. Consolidated Net Profit for Q3 FY26: 1,159.21 lakhs; 9M FY26: 4,560.79 lakhs.
  6. Consolidated results include Hariom Power and Energy private limited, a wholly owned subsidiary with minimal revenue and net loss.

Corporate Overview

  1. Evaluation of the impact of the Central government's new Labour Code Bill, effective November 21, 2025, on financials.
  2. Primarily engaged in manufacturing and selling of Steel Products.
  3. Factual and compliant with regulatory disclosure requirements.
  4. Sole business segment is manufacturing and selling of Steel Products.

Risk Factors

  1. New labour code bill impact.
  2. Financial effects still uncertain.
  3. Potential increase in operating costs.
  4. Regulatory compliance changes.

Key Drivers

  1. Revenue from operations increased significantly.
  2. Net profit showed healthy growth.
  3. Earnings per share improved consistently.
  4. Strong demand for steel products.

Auditor’s Report

  1. Unmodified conclusion on the unaudited financial results based on a limited review, not an audit opinion.

Board Commentary

  1. Impact of new Labour Code Bill on company financials.
  2. Central government's new Labour Code Bill effective November 21, 2025, impact under evaluation.

Corporate Governance

  1. Audit Committee reviewed and recommended financial results to the Board.

Management Discussion & Analysis

Performance Drivers

  1. Increased revenue from operations and other income.
  2. Growth in net profit for the quarter and nine months.

Risk Control Measures

  1. Company is in the process of evaluating the Labour Code Bill's impact.

Critical Risks

  1. Uncertain financial impact of the new Labour Code Bill.