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Date: November 11, 2026
Listing Department Corporate Relationship Department
The National Stock Exchange of India Limited, BSE Limited,
Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers,
Bandra East, Mumbai – 400051 Dalal Street, Mumbai - 400 001
NSE Symbol – HARIOMPIPE BSE Scrip Code- 543517
Dear Sir/Madam,
Sub: Submission of Transcript of the Post-Earnings Conference Call held on November 05,
2026:
Pursuant to Regulation 30 and 46 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the
transcript of the Post-Earnings Conference Call held with the Investors/Analysts on November 05,
2026, on the Unaudited Financial Results / Financial and Operational Performance of the
Company for the quarter and half year ended September 30, 2026.
The aforesaid transcript is also available on the Company’s website at
https://www.hariompipes.com/presentations-made-to-analysts-or-institutional-investors.
Kindly take the above information on record.
Thanking You,
Yours faithfully
For Hariom Pipe Industries Limited
Rekha Singh
Company Secretary
M. No. A33986
Encl: As above
Hariom Pipe Industries Limited
Q2 & H1 FY27
POST EARNINGS CONFERENCE CALL
November 05, 2026
Management Team
Mr. Rupesh Kumar Gupta - Managing Director
Mr. Amitabha Bhattacharya - Chief Financial Officer
Ms. Rekha Singh - Company Secretary
Call Coordinator
Strategy & Investor Relations Consulting
Hariom Pipe Industries Limited
Q2 & H1 FY27 Post Earnings Conference Call
November 5, 2026
Presentation
Vinay Pandit: Ladies and gentlemen, on behalf of Kaptify Consulting Investor
Relations Team, I welcome you all to the Q2 and H1 FY27 Post
Earnings Conference Call of Hariom Pipe Industries Limited.
Today on the call from the management we have with us Mr. Rupesh
Kumar Gupta, Managing Director; Mr. Amitabha Bhattacharya, Chief
Financial Officer; and Ms. Rekha Singh, Company Secretary.
As a disclaimer, I would like to inform all of you that this call may
contain forward-looking statements which may involve risk and
uncertainties. Also a reminder that this call is being recorded.
I would now request the management to brief us about the business
and performance highlights for the period ended September 2026, the
growth perspective and vision for the coming years, post which we
will open the floor for Q&A. Over to the management team.
Rupesh Kumar Gupta: Good day everyone. On behalf of Hariom Pipe Industries Limited, I
welcome you all, our post results conference call for the second
quarter and a half year ended September 30, 2026. Thank you for
joining us and for your continued interest in the company.
We closed the first half with growth in revenue and profits supported
by better sales realizations and a stronger second quarter. The
recovery in operations at Perundurai was an important development
during the quarter. Our focus on value-added products also continued
to support earnings per tonne.
I will first discuss our standalone performance and the progress in our
steel business, followed by an update on our subsidiaries and priorities
for the second half. For the second quarter, revenue from operations
increased by 65% year-on-year to INR 554 crore, EBITDA increased
by 58% to INR 68 crore, while profit after tax rose to INR 29 crore
from INR 10 crores. In this corresponding quarter last year, the
improvement was also visible compared with the June quarter revenue
increased by 29%, EBITDA by 36% and profit after tax by 64%. Our
EBITDA margin improved to 12.21% from 11.63% as operating
activity recovered.
For the half year, revenue stood at INR 983 crores, an increase of
23%, EBITDA was INR 118 crore, up 17% and profit after tax
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Hariom Pipe Industries Limited
Q2 & H1 FY27 Post Earnings Conference Call
November 5, 2026
increased by 35% to INR 46 crores. These results show that the
growth in our business is translating into higher absolute earnings.
Turning to operations, second quarter sales volume reached 83,117
tonnes, an increase of 32% over the June quarter. Half year sales
volumes were approximately 1.46 lakh tonnes, up 6% year-on-year.
Perundurai resumed operations on July 13, following the temporary
closure during the first quarter. Its return to production supported the
recovery in volumes. Our focus now is stable operations, compliance
and better utilization of the facilities already in place.
Average selling price for the half year increased by 17% to 67,265 per
tonne, EBITDA per tonne increased by 11% to INR 8,042. In the
second quarter, EBITDA per tonne reached INR 8,140, an
improvement of 15% over the corresponding quarter last year. Our
stand-alone net worth increased to INR 705 crore at September 30,
representing year-on-year growth of 17%. The debt to equity ratio
improved to 0.62 times from 0.65 times a year earlier.
I would now like to update you on Hariom Power and Energy. Our
first 5 megawatt AC solar project was commissioned in July. Two
additional projects of 5 megawatt AC each were commissioned in
October. This takes operational capacity to 15 megawatt AC across
three locations. The October additions are subsequent to the half-year
reporting date. The overall portfolio comprises 60 megawatt across 13
locations in Maharashtra. We are targeting completion of 52 megawatt
across 11 locations by January 27. Including the 15 megawatt already
operational, the next phase, therefore, covers a future 37 megawatt AC
across 8 locations.
Metal Mart, our trading and distribution subsidiary, completed its
documentation during the first half and has obtained GST registration.
It is preparing for fuller operations during the current quarter with the
aim of supporting market access of metal, steel and allied products.
On a consolidated basis, including our subsidiaries, half-year revenue
was INR 984 crores, EBITDA was INR 118 crores and profit after tax
was INR 42 crores. Revenue grew by 24%, EBITDA by 18% and
profit after tax by 23% year-on-year. As we enter the second half, our
priority is to build on the improvement in operating activities seen
during the September quarter. We have an established manufacturing
base and better utilization of that base remains an important
opportunity for the company.
Page 3 of 19
Hariom Pipe Industries Limited
Q2 & H1 FY27 Post Earnings Conference Call
November 5, 2026
In the steel business, we will focus on consistent plant operations,
value-added products and closer engagement with our dealers and
institutional customers. Alongside volume growth, we will continue to
pay attention to contribution burden and the working capital required
to support sales.
For the solar business, the focus is on completing the scheduled
products and moving them into regular operations. We will continue
monitoring project progress and funding requirements closely, with
capital allocation guided by the needs of the core business and the
process of these investments. The first half has given as a stronger
base for the remainder of the year. We are engaged by the recovery in
volumes, the improvement in earnings per tonne the process in solar
commissioning. Our efforts will remain directed towards sustainable
earnings, growth and long-term value for shareholders.
I would like to thank our employees for their efforts, our customers
and channel partners for their continued business and our lenders and
shareholders for their support.
With this, I conclude my opening remarks. We will now open the
floor for questions. Thank you, everyone.
Moderator: Thank you, sir. We will now begin the question and answer session.
[Operator Instructions]. We will take the first question from Adi Jha.
Please go ahead.
Adi Jha: Thanks for the opportunity. Great set of numbers. My first question is
this, what is the guidance for H2 and also how do you see Hariom
doing in FY28 as well? Can you just share, throw some light in these
two?
Amitabha Bhattacharya: Good morning, Aditya. I am Amitabha,
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