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Last Updated: April 2, 2026, 4:45 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543517 | NSE: HARIOMPIPE

Hariom Pipe Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹279.02Fairly Valued by 8.22%vs CMP ₹304.00

P/E (15.0) × ROE (11.9%) × BV (₹195.00) × DY (0.20%)

Defaults: P/E=15

₹281.03Fairly Valued by 7.56%vs CMP ₹304.00
MoS: -8.2% (Negative)Confidence: 43/100 (Low)Models: 3 Under, 2 Fair, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹283.2419%Fair (-6.8%)
Graham NumberEarnings₹298.4417%Fair (-1.8%)
Earnings PowerEarnings₹15.7111%Over (-94.8%)
DCFCash Flow₹103.2114%Over (-66%)
Net Asset ValueAssets₹195.247%Over (-35.8%)
EV/EBITDAEnterprise₹591.229%Under (+94.5%)
Earnings YieldEarnings₹203.007%Over (-33.2%)
ROCE CapitalReturns₹509.249%Under (+67.5%)
Revenue MultipleRevenue₹517.646%Under (+70.3%)
Consensus (9 models)₹281.03100%Fairly Valued
Key Drivers: Wide model spread (₹16–₹591) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.5% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

67
Hariom Pipe Industries Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health68/100 · Strong
ROCE 14.1% GoodROE 11.9% AverageD/E 0.79 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 57.3% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: 42 days (improving) Efficient
Quarterly Momentum78/100 · Strong
Revenue (4Q): +21% YoY AcceleratingProfit (4Q): +2% YoY Positive
Industry Rank75/100 · Strong
P/E 15.0 vs industry 40.7 Cheaper than peersROCE 14.1% vs industry 15.3% Average3Y sales CAGR: 55% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:45 am

Market Cap 942 Cr.
Current Price 304
Intrinsic Value₹281.03
High / Low 572/273
Stock P/E15.0
Book Value 195
Dividend Yield0.20 %
ROCE14.1 %
ROE11.9 %
Face Value 10.0
PEG Ratio9.90

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Hariom Pipe Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hariom Pipe Industries Ltd 942 Cr. 304 572/27315.0 1950.20 %14.1 %11.9 % 10.0
Gandhi Special Tubes Ltd 982 Cr. 808 1,034/60713.7 2361.86 %27.5 %21.0 % 5.00
Rama Steel Tubes Ltd 653 Cr. 3.99 14.9/3.4341.5 2.850.00 %6.75 %4.62 % 1.00
Hi-Tech Pipes Ltd 1,549 Cr. 76.3 128/70.124.0 60.20.03 %11.3 %7.47 % 1.00
Surani Steel Tubes Ltd 169 Cr. 109 139/47.356.8 79.70.00 %1.91 %1.12 % 10.0
Industry Average9,873.50 Cr511.9240.74163.020.44%15.34%11.65%4.69

All Competitor Stocks of Hariom Pipe Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 123252240302280331343314300400461336363
Expenses 104220212266247289299272260351403293318
Operating Profit 18312836334245424049584345
OPM % 15%12%12%12%12%13%13%13%13%12%12%13%12%
Other Income 0011211100111
Interest 2547111011101212121314
Depreciation 2359101012121314141618
Profit before tax 14242020142423221523321416
Tax % 28%27%22%27%29%29%23%27%27%26%27%27%25%
Net Profit 10171515101718161117241012
EPS in Rs 3.986.255.595.353.555.815.665.093.635.577.623.363.75

Last Updated: March 3, 2026, 9:18 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:00 am

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 871051341612544316441,3601,6041,559
Expenses 80901171372203745621,2211,4291,365
Operating Profit 7151723345682139175194
OPM % 8%14%13%15%13%13%13%10%11%12%
Other Income 1000131534
Interest 33378810334551
Depreciation 2325689345062
Profit before tax 2101211214363778386
Tax % 33%36%31%30%29%25%26%27%26%
Net Profit 2688153246576263
EPS in Rs 9.475.946.215.988.9218.8316.7319.6819.9320.30
Dividend Payout % 0%0%10%0%0%0%0%3%3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)200.00%33.33%0.00%87.50%113.33%43.75%23.91%8.77%
Change in YoY Net Profit Growth (%)0.00%-166.67%-33.33%87.50%25.83%-69.58%-19.84%-15.14%

Hariom Pipe Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: February 1, 2026, 2:57 am

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2111313171728293131
Reserves 10921355484348435542574
Borrowings 292556688087297372401418
Other Liabilities 713142323273744223121
Total Liabilities 47581051401742167098801,1971,143
Fixed Assets 121243505954135366424473
CWIP 010081010313129
Investments 0000000000
Other Assets 36466290107152471501761661
Total Assets 47581051401742167098801,1971,143

Reserves and Borrowings Chart

Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 4761104-101579
Cash from Investing Activity + -0-4-32-12-23-4-222-182-86
Cash from Financing Activity + -4-330912-04267431
Net Cash Flow -0-04-2-1-1104-10224
Free Cash Flow 33-26-11-13-1-323-136-25
CFO/OP 60%68%51%10%42%19%-101%17%53%

Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-22.00-10.00-39.00-45.00-46.00-31.00-215.00-233.00-226.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 233629522823493346
Inventory Days 165196169251174150172124156
Days Payable 2831216391413868
Cash Conversion Cycle 161201177240193159207149134
Working Capital Days 1215865595762694442
ROCE %30%22%18%21%28%17%15%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.92%60.91%60.91%60.91%58.28%57.16%57.15%57.27%57.27%57.27%57.27%57.27%
FIIs 2.52%2.22%2.81%2.58%6.51%10.10%9.55%9.40%9.49%9.59%9.53%9.23%
DIIs 0.18%0.00%0.00%0.00%0.00%0.16%0.38%0.05%0.23%0.22%0.16%0.05%
Public 36.38%36.86%36.28%36.52%35.21%32.59%32.93%33.30%33.02%32.93%33.06%33.46%
No. of Shareholders 30,70335,94537,85039,80643,56344,37345,72049,73354,05656,88557,91057,627

Shareholding Pattern Chart

No. of Shareholders

Hariom Pipe Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ITI ELSS Tax Saver Fund 58,141 0.56 2.14N/AN/AN/A

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24
FaceValue 10.0010.00
Basic EPS (Rs.) 20.2520.34
Diluted EPS (Rs.) 19.9318.34
Cash EPS (Rs.) 36.1831.41
Book Value[Excl.RevalReserv]/Share (Rs.) 184.66160.50
Book Value[Incl.RevalReserv]/Share (Rs.) 184.66160.50
Revenue From Operations / Share (Rs.) 438.22399.51
PBDIT / Share (Rs.) 57.5849.81
PBIT / Share (Rs.) 41.3438.08
PBT / Share (Rs.) 26.8426.80
Net Profit / Share (Rs.) 19.9319.68
NP After MI And SOA / Share (Rs.) 19.9319.68
PBDIT Margin (%) 13.1412.46
PBIT Margin (%) 9.439.53
PBT Margin (%) 6.126.70
Net Profit Margin (%) 4.544.92
NP After MI And SOA Margin (%) 4.544.92
Return on Networth / Equity (%) 10.7912.26
Return on Capital Employeed (%) 18.8818.51
Return On Assets (%) 5.156.45
Long Term Debt / Equity (X) 0.160.25
Total Debt / Equity (X) 0.690.79
Asset Turnover Ratio (%) 1.310.00
Current Ratio (X) 1.451.68
Quick Ratio (X) 0.620.64
Inventory Turnover Ratio (X) 3.750.00
Dividend Payout Ratio (NP) (%) 3.000.00
Dividend Payout Ratio (CP) (%) 1.650.00
Earning Retention Ratio (%) 97.000.00
Cash Earning Retention Ratio (%) 98.350.00
Interest Coverage Ratio (X) 3.974.42
Interest Coverage Ratio (Post Tax) (X) 2.372.74
Enterprise Value (Cr.) 1380.281644.52
EV / Net Operating Revenue (X) 1.021.43
EV / EBITDA (X) 7.7411.44
MarketCap / Net Operating Revenue (X) 0.751.13
Retention Ratios (%) 96.990.00
Price / BV (X) 1.802.82
Price / Net Operating Revenue (X) 0.751.13
EarningsYield 0.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hariom Pipe Industries Ltd. is a Public Limited Listed company incorporated on 21/06/2007 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L27100TG2007PLC054564 and registration number is 054564. Currently Company is involved in the business activities of Manufacture of tube and tube fittings of basic iron and steel. Company's Total Operating Revenue is Rs. 1357.05 Cr. and Equity Capital is Rs. 30.97 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Tubes/Pipes3-4-174/12/2, 1st Floor, Samarpan Lane, Besides Spencer�s, Hyderabad Telangana 500048Contact not found
Management
NamePosition Held
Mr. Pramod Kumar KapoorChairman & Ind.Director
Mr. Rupesh Kumar GuptaManaging Director
Mr. Sailesh GuptaWhole Time Director
Mrs. Sunita GuptaNon Executive Director
Mr. Soumen BoseNon Executive Director
Mr. Rajender Reddy GankidiIndependent Director
Mrs. Sneha SanklaIndependent Director

FAQ

What is the intrinsic value of Hariom Pipe Industries Ltd and is it undervalued?

As of 14 April 2026, Hariom Pipe Industries Ltd's intrinsic value is ₹281.03, which is 7.56% lower than the current market price of ₹304.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.9 %), book value (₹195), dividend yield (0.20 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hariom Pipe Industries Ltd?

Hariom Pipe Industries Ltd is trading at ₹304.00 as of 14 April 2026, with a FY2026-2027 high of ₹572 and low of ₹273. The stock is currently near its 52-week low. Market cap stands at ₹942 Cr..

How does Hariom Pipe Industries Ltd's P/E ratio compare to its industry?

Hariom Pipe Industries Ltd has a P/E ratio of 15.0, which is below the industry average of 40.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Hariom Pipe Industries Ltd financially healthy?

Key indicators for Hariom Pipe Industries Ltd: ROCE of 14.1 % is moderate. Dividend yield is 0.20 %.

Is Hariom Pipe Industries Ltd profitable and how is the profit trend?

Hariom Pipe Industries Ltd reported a net profit of ₹62 Cr in Mar 2025 on revenue of ₹1,604 Cr. Compared to ₹32 Cr in Mar 2022, the net profit shows an improving trend.

Does Hariom Pipe Industries Ltd pay dividends?

Hariom Pipe Industries Ltd has a dividend yield of 0.20 % at the current price of ₹304.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hariom Pipe Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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