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Hariom Pipe Industries Q2 FY27 results: net profit up 142.8% to ₹25.28 crore, revenue up 65.1%
Hariom Pipe Industries Limited reported consolidated revenue of ₹554.60 crore and a net profit of ₹25.28 crore in Q2 FY27. Revenue rose 65.1% from Q2 FY26, while basic EPS increased to ₹8.16 from ₹3.36.
Key points
- Q2 FY27 consolidated revenue was ₹554.60 crore, up 65.1% from ₹335.87 crore in Q2 FY26.
- EBITDA was ₹67.99 crore, up 59.2% from ₹42.72 crore, while EBITDA margin was 12.3% against 12.7%.
- Net profit rose 142.8% to ₹25.28 crore from ₹10.41 crore, and basic EPS increased to ₹8.16 from ₹3.36.
- Against Q1 FY27, revenue rose 29.2% to ₹554.60 crore and net profit increased 52.3% to ₹25.28 crore.
- H1 FY27 revenue was ₹983.78 crore, up 23.5% from ₹796.83 crore, while net profit rose 23.1% to ₹41.88 crore.
How did Hariom Pipe Industries perform in Q2 FY27?
Hariom Pipe Industries reported consolidated revenue of ₹554.60 crore for Q2 FY27, up 65.1% from ₹335.87 crore in Q2 FY26. EBITDA rose 59.2% to ₹67.99 crore from ₹42.72 crore, while the EBITDA margin declined 0.4 percentage points to 12.3% from 12.7%.
Profit before tax increased 143.0% to ₹34.72 crore from ₹14.29 crore, and net profit rose 142.8% to ₹25.28 crore from ₹10.41 crore. Basic EPS increased 142.9% to ₹8.16 from ₹3.36. Against Q1 FY27, revenue was higher by 29.2%, EBITDA by 36.3% and net profit by 52.3%.
The board approved unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The figures reported here are consolidated, while the filing also included standalone results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 554.60 | 429.18 | 335.87 | +65.1% | +29.2% |
| Other income | 0.71 | 1.36 | 0.90 | −21.1% | −47.8% |
| Total expenses | 520.59 | 408.14 | 322.48 | +61.4% | +27.6% |
| EBITDA | 67.99 | 49.90 | 42.72 | +59.2% | +36.3% |
| EBITDA margin | 12.3% | 11.6% | 12.7% | −0.4 pp | +0.7 pp |
| Profit before tax | 34.72 | 22.41 | 14.29 | +143.0% | +54.9% |
| Tax | 9.44 | 5.81 | 3.88 | +143.3% | +62.5% |
| Net profit | 25.28 | 16.60 | 10.41 | +142.8% | +52.3% |
| EPS (₹) | 8.16 | 5.36 | 3.36 | +142.9% | +52.2% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Hariom Pipe Industries' costs and profit?
Total expenses rose 61.4% to ₹520.59 crore from ₹322.48 crore in Q2 FY26. Cost of materials increased 74.7% to ₹453.64 crore, employee cost rose 22.4% to ₹16.64 crore, finance costs rose 30.1% to ₹17.26 crore and other expenses increased 40.9% to ₹31.44 crore.
Depreciation rose 4.2% to ₹16.73 crore from ₹16.06 crore, while other income fell 21.1% to ₹0.71 crore from ₹0.90 crore. There was no exceptional item in either quarter. Tax expense rose 143.3% to ₹9.44 crore from ₹3.88 crore.
The filing does not state a specific reason for the increase in revenue or profit. The reported figures show that the rise in profit was accompanied by higher material, employee, finance, depreciation, other-expense and tax costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 453.64 | 259.71 | +193.93 | +74.7% |
| Employee cost | 16.64 | 13.60 | +3.04 | +22.4% |
| Finance costs | 17.26 | 13.27 | +3.99 | +30.1% |
| Depreciation | 16.73 | 16.06 | +0.67 | +4.2% |
| Other expenses | 31.44 | 22.31 | +9.13 | +40.9% |
| Total expenses | 520.59 | 322.48 | +198.11 | +61.4% |
| Other income | 0.71 | 0.90 | −0.19 | −21.1% |
| Tax | 9.44 | 3.88 | +5.56 | +143.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Hariom Pipe Industries reported consolidated revenue of ₹983.78 crore, up 23.5% from ₹796.83 crore in H1 FY26. Total income rose 23.4% to ₹985.85 crore from ₹799.12 crore.
Profit before tax increased 22.9% to ₹57.12 crore from ₹46.49 crore. Net profit rose 23.1% to ₹41.88 crore from ₹34.02 crore, while basic EPS increased to ₹13.52 from ₹10.98.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 983.78 | 796.83 | +23.5% |
| Profit before tax | 57.12 | 46.49 | +22.9% |
| Net profit | 41.88 | 34.02 | +23.1% |
| EPS (₹) | 13.52 | 10.98 | +23.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹1,444.25 crore on 30 September 2026 from ₹1,219.89 crore on 31 March 2026. Total equity increased to ₹703.99 crore from ₹649.23 crore, while borrowings rose to ₹523.99 crore from ₹404.09 crore and cash fell to ₹2.45 crore from ₹2.89 crore.
Inventories increased to ₹473.41 crore from ₹404.58 crore, trade receivables to ₹210.20 crore from ₹189.07 crore and trade payables to ₹117.15 crore from ₹111.80 crore. H1 FY27 operating cash flow was ₹34.26 crore, compared with ₹40.68 crore in H1 FY26.
Investing cash flow was negative ₹165.29 crore in H1 FY27 against negative ₹28.88 crore a year earlier, while financing cash flow was ₹130.60 crore against negative ₹32.21 crore. Capital expenditure was ₹129.99 crore, compared with ₹55.78 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,444 | 1,220 |
| Total equity | 703.99 | 649.23 |
| Borrowings | 523.99 | 404.09 |
| Cash and equivalents | 2.45 | 2.89 |
| Inventories | 473.41 | 404.58 |
| Trade receivables | 210.20 | 189.07 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 34.26 | 40.68 |
| Cash from investing | −165.29 | −28.88 |
| Cash from financing | 130.60 | −32.21 |
| Capital expenditure | 129.99 | 55.78 |
Source: Company's results filing (XBRL).
How has Hariom Pipe Industries done over the last 7 quarters?
Revenue rose to ₹554.60 crore in Q2 FY27 from ₹429.18 crore in Q1 FY27, reversing the fall from ₹507.27 crore in Q4 FY26 to ₹429.18 crore in Q1 FY27. Q2 FY27 was the highest quarterly revenue in the period covered.
Net profit increased to ₹25.28 crore in Q2 FY27 from ₹16.60 crore in Q1 FY27, after reaching ₹30.10 crore in Q4 FY26 and falling to ₹16.60 crore in Q1 FY27. The Q2 FY27 level was above ₹10.41 crore reported in Q2 FY26.
The EBITDA margin recovered to 12.3% in Q2 FY27 from 11.6% in Q1 FY27, but remained below the 12.7% recorded in Q2 FY26. Across the seven quarters, the margin was lowest at 11.6% in Q1 FY27 and highest at 12.7% in Q2 FY26.
How did other Iron & Steel Products companies do?
A total of 28 other Iron & Steel Products companies filed for the quarter as of 4 November 2026. Their median revenue growth was 23.5%, equal to Hariom Pipe Industries’ reported H1 FY27 revenue growth, while the company’s Q2 FY27 revenue growth was 65.1%.
Of the other companies, 26 grew revenue more slowly than Hariom Pipe Industries and 2 grew faster. Profit was higher at 22 of the 33 peers for which profit was compared.
| Hariom Pipe Industries revenue growth (YoY) | +65.1% |
|---|---|
| Median of 28 other Iron & Steel Products companies | +23.5% |
| Companies with slower revenue growth than Hariom Pipe Industries | 26 of 28 |
| Companies with faster revenue growth than Hariom Pipe Industries | 2 of 28 |
| Companies whose net profit rose | 22 of 33 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Hariom Pipe Industries' revenue in Q2 FY27?
Revenue from operations was ₹554.60 crore, up 65.1% from ₹335.87 crore in Q2 FY26 (consolidated).
Did Hariom Pipe Industries make a profit in Q2 FY27?
Yes. Net profit was ₹25.28 crore, against a net profit of ₹10.41 crore in Q2 FY26.
What was Hariom Pipe Industries' EPS in Q2 FY27?
Basic earnings per share were ₹8.16, against ₹3.36 in Q2 FY26.
When did Hariom Pipe Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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