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Swing Capital

Hariom Pipe Industries Ltd

NSE: HARIOMPIPE BSE: 543517Metal

Incorporated in 2008, Hariom Pipe Industries Ltd is a manufacturer of high-quality steel products[1]

₹308
52W: ₹268 — ₹572
PE 15.2 · Book ₹195 · +58% vs book
Market Cap₹954 Cr
Stock P/E15.2Price to Earnings
ROCE14.1%Return on Capital
ROE11.9%Return on Equity
Div. Yield0.2%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 50.7% CAGR over last 5 years

Weaknesses

  • −Company has a low return on equity of 14.0% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -3.66%

Shareholding Pattern

Promoters57.27%
FIIs9.5%
DIIs0.06%
Public33.19%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.16%57.15%▼0.057.27%▲0.157.27%57.27%57.27%57.27%57.27%
FIIs10.1%9.55%▼0.59.4%▼0.29.49%▲0.19.59%▲0.19.53%▼0.19.23%▼0.39.5%▲0.3
DIIs0.16%0.38%▲0.20.05%▼0.30.23%▲0.20.22%▼0.00.16%▼0.10.05%▼0.10.06%▲0.0
Public32.59%32.93%▲0.333.3%▲0.433.02%▼0.332.93%▼0.133.06%▲0.133.46%▲0.433.19%▼0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales302280331343314300400461336363
Expenses266247289299272260351403293318
Operating Profit36334245424049584345
OPM %12%12%13%13%13%13%12%12%13%12%
Net Profit15101718161117241012
EPS ₹5.353.555.815.665.093.635.577.623.363.75

AI Insights

Revenue Trend

TTM revenue at ₹1,559Cr, down 2.8% YoY. OPM at 12%.

Debt Position

Borrowings at ₹418Cr. Debt-to-equity ratio: 0.73x. Moderate leverage.

Capex Cycle

CWIP at ₹9Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.06% (+0.06pp change). FIIs: 9.5% (+7.28pp change). Promoters hold 57.27%.

Margin & Efficiency

ROCE improving from 0% (Mar 2017) to 14% (Mar 2025). Working capital days: 42.

Valuation

PE 15.2x with 14.1% ROCE. Price is 58% above book value of ₹195. Dividend yield: 0.2%.

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