AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep - Hariom Pipe will join Arihant Capital virtual investor group meeting on September 28, 2026, 2:00–3:00 PM.
Source: Bse
Hariom Pipe Industries Limited (HARIOMPIPE)
Small CapIndustrials stocks · Small cap · NSE
Hariom Pipe Industries Limited operates in Steel Pipes, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 11:46 am ISTDetails
Quote21 Oct, 11:46 am IST
Base fundamentals06 Oct 2026 · screener
Latest result12 Aug, 07:14 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
29Bearishfull bear SMA stack · SMA20 -4.0% / mo · MACD −
Stock trend: 19
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
HARIOMPIPED candles · FIT view-3.0%TODAY · PROVISIONALLatest price ₹314.50 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.5%
RSI
34
MACD hist
-0.97
52W pos
22%
2026-10-21O ₹325.95H ₹327.15L ₹314.20C ₹314.50Vol 35,466 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
HARIOMPIPENifty India ManufacturingNifty 500
- HARIOMPIPE
- -19.1%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -13.6 pp
Chart stats
19 Oct 2026- From 52W high
- -32.7%
- 52W range position
- 26%
- ATR (14)
- 4.0%
- Volume vs 20D
- 0.82x
- Avg traded value
- ₹2.8 Cr
- 20D price channel
- ₹321.4 - ₹374
₹480.1
₹268.1 - ₹480.1
₹13
Latest completed session
20-session average
30.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST41
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -6.9% · PAT -29.2% YoY
Technical
Bearish29
Price trend and sector-relative-strength timing.
Valuation
Legacy model+7.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence66
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -7% YoY · PAT -29% YoY · margin compression
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹429 Cr | -6.9% | -15.4% |
| EBITDA | ₹50 Cr | -13.8% | -21.9% |
| Operating margin | 12.0% | +0 bps | -100 bps |
| PAT | ₹17 Cr | -29.2% | -43.3% |
| PAT margin | 4.0% | -125 bps | -196 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.60
- P/B
- 1.56
- EV/EBITDA
- 5.16
- Market Cap
- 1005.00Cr
Profitability
- ROE
- 12.40%
- ROCE
- 15.70%
- ROA
- 5.66%
- Dividend Y
- 0.23%
Growth (CAGR)
- Revenue 5Y
- 6.33%
- EPS 5Y
- 6.58%
- Revenue 3Y
- -19.00%
- EPS 3Y
- -19.00%
Balance Sheet
- Debt/Equity
- 0.58
- Interest Coverage
- 3.67×
- Altman Z
- 3.84
- Book Value
- 209.00
Cash Flow
- FCF Yield
- 5.07%
- FCF Positive Y
- 1/5
- OCF
- 192.00 Cr
- EPS TTM
- 22.18
Shareholding
- Promoter Hold
- 57.27%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 26%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 429-15.4% vs prev
Net Profit
₹ CrLatest: 17.0-43.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 34.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.1% over last month) — short-term momentum negative.
- RSI(14) at 34 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 34% off 52W high · 17% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
35
RS percentile
Stage 1 Base / Transition
1M return
-10.9%
3M return
-19.1%
6M return
+1.9%
1Y return
-28.9%
RS 1D
-2
RS 20D
0
Sector rank
#2
Industry rank
#10
Stage evidence
- Price is 9.3% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed -0.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 67.76-2.29%
RS vs Nifty 50068
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation13/30
Growth7/25
Quality5/20
Balance Sheet7/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
41
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
41/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 5.1%.
- Piotroski is strong at 8/9.
- Balance sheet contributes 7/15 to the score.
Main drags
- Quality is weaker at 5/20; verify the latest quarterly trend.
- Growth is weaker at 7/25; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
14.6
PB
1.6
EV/EBITDA
5.2
ROE
12.4%
ROCE
15.7%
FCF Yield
5.1%
Debt/Equity
0.6
MoS
+7.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
41
Previous: 40 (+1)
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+7.6%
Previous: +5.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
40
40
40
40
40
40
40
40
40
40
40
40
Factor attribution
Valuation
13+1
was 12
Modelled fair value
Graham Number
₹322.96
+2.6% MoS
Growth-justified P/E
15.3
Growth-justified Value
₹340.46
+7.6% MoS
PEG
2.22
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
HITECH
Small
Hi-Tech Pipes Limited
Steel Pipes
match 85
50
18.9
5.9%
+51%
FAIR VALUE
SWASTIK
SME
Swastik Pipe Ltd.
Steel Pipes
match 71
1
—
-37.2%
—
OVERVALUED
APLAPOLLO
Mid
APL Apollo Tubes Limited
Steel Pipes
match 65
54
48.3
25.4%
-23%
FAIR VALUE
MANINDS
Small
Man Industries (India) Limited
Steel Pipes
match 44
37
32.6
9.2%
+26%
WATCHLIST
GOODLUCK
Small
Goodluck India Limited
Steel Pipes
match 44
45
23.5
13.0%
+27%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Hariom Pipe Industries Limited operates in Steel Pipes, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
66Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 49th percentile of the scored universe and 47th percentile within Industrials. Main check: cash conversion is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
53 docs text-extracted · 14 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
49th percentile
overall median 67 · Industrials: 47th pctile, median 68 · Small: 54th pctile, median 66
Evidence depth
Financial-only
53 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
53
watch · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
61
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 57.3%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 4.6%.
- ▸3/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Hariom Pipe Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Weblink Letter To Shareholders 7 Sep - Web-link letters sent for FY2025-26 annual report; 19th AGM on September 30, 2026 via VC/OAVM.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep - Newspaper Advertisement under Regulations 30 and 47 of SEBI (LODR) Regulations, 2015, regarding dispatch of the Notice of the 19th Annual General Meeting and Annual …
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR) - Successful Installation And Commencement Of Power Generation. 11 Jul - 5 MW AC solar project at Rupur Tanda began power generation; COD certificate awaited.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Newspaper Advertisement on Unaudited Financial results for the quarter ended June 30, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Management 12 Aug - Q1 FY27 results approved; Perundurai unit restarts July 13 after TNPCB closure suspension.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Jun - Newspaper Publication - Corrigendum cum Addendum to the Notice of the Extra-ordinary General Meeting (EGM).
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 May - Newspaper Publication for dispatch of Notice of Extra-Ordinary General Meeting and e-Voting Instructions.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 11 Sep - Revised FY 2025-26 annual report submitted after typographical and typesetting corrections.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.