{"id":180651,"date":"2026-02-13T08:22:42","date_gmt":"2026-02-13T13:22:42","guid":{"rendered":"https:\/\/alphastreet.com\/india\/hariom-pipe-industries-ltd-hariompipe-q3-2026-earnings-call-transcript\/"},"modified":"2026-02-13T08:22:42","modified_gmt":"2026-02-13T13:22:42","slug":"hariom-pipe-industries-ltd-hariompipe-q3-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/hariom-pipe-industries-ltd-hariompipe-q3-2026-earnings-call-transcript\/","title":{"rendered":"Hariom Pipe Industries Ltd (HARIOMPIPE) Q3 2026 Earnings Call Transcript"},"content":{"rendered":"

Hariom Pipe Industries Ltd (NSE: HARIOMPIPE) Q3 2026 Earnings Call dated Feb. 09, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Rupesh Kumar Gupta<\/strong> \u2014 Managing Director<\/em><\/p>\n

Amitabha Bhattacharya<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

operator<\/strong><\/p>\n

Ladies and gentlemen, on behalf of Captify Consulting Investor Relations team I welcome you all to the Q3 and 9 months FY26 post earnings conference call of Hari Om Pipe Industries Limited. Today on the call from the management team we have with us Mr. Rupesh Kumar Gupta, Managing Director, Mr. Ansh Golas who time Director Mr. Amitabh Bhattacharya, Chief Financial Officer and Ms. Rekha Singh, Company Secretary. As a disclaimer I would like to inform you that this call may contain forward looking statements which may involve risk and uncertainties. Also, a reminder that this call is being recorded.<\/p>\n

I would now request the management to brief us about the business and performance highlights for the period ended December 2025. The growth perspectives and vision for the coming year. Post which we will open the floor for Q and A. Over to the management team.<\/p>\n

Rupesh Kumar Gupta<\/strong> \u2014 Managing Director<\/em><\/p>\n

Good afternoon everyone. This is Rupesh Kumar Gupta from Harum Pipe Industries Limited. Thank you for joining us today to discuss the performance of har Pipe Industries Limited for the third quarter and nine months ended December 31, 2025. During the period, the company continued to demonstrate steady execution and operational consistency despite fluctuations in steel prices and a dynamic market environment. Our continued focus on value added products, disciplined working capital management and stable plant operations helped us maintain consistent margins and profitability. For the nine months ended December 25, the company recorded sales volume of approximately 2.07 lakh tonnes reflecting a 21% year on year growth.<\/p>\n

Revenue from operations stood at 1159.7 crores also growing 21% year on year. EBITDA came at 145.5 crores with EBITDA margin at 12.55%. EBITDA per ton remained healthy at around 7039 rupees per ton supported by our strong value added product mix which continues to contribute about 96 to 97% of total revenue. Profit before tax for the nine month period stood at 62 crores while profit after tax came at 45.6 crores. Showing stable earnings despite price movements during the year, overall profitability remains well aligned with our internal estimates. Coming to the third quarter, revenue from operations was 362.9 crores compared to 299.9 crores in Q3 last year.<\/p>\n

EBITDA for the quarter stood at 45.2 crores and margin at 12.47% and EBITDA per ton remained at a healthy level of 6,613 before tax. Profit before tax was 15.6 crores and profit after tax to that 11.6 crores. From an operational perspective, the galvanized pipes and coils cons segment continues to be the primary contributor. With both the Telangana and Tamil Nadu unit performing steadily, the integrated steel band in Telangana facility has now reached near optimal. Utilization and overall plant performance across units remain stable and efficient. Looking ahead, business conditions remain stable and operations across all units continue to perform steadily.<\/p>\n

Demand visibility remains healthy and our focus on value added products, disciplined execution and operational stability continues to support overall performance. Based on the performance achieved so far and current business momentum, we remain confident on closing the financial year on a good note. As Q4 is always marked as good quarter for steel industries. I would now like to brief update you on our renewable energy subsidiary Hari Power and energy. The 60 megawatt solar project is progressing smoothly. The land development work across locations is moving as per schedule. A significant portion of land required for the project has been secured including government land which helps optimize project cost.<\/p>\n

We expect 31 megawatt capacity to commence operations by April 26 and balance capacity by end of August 26. To conclude, the company continues to maintain stable firmware performance, consistent margins and disciplined execution. With improving demand visibility, strong product mix and ongoing strategic initiatives, we are confident of delivering steady growth and finally and finishing the financial year on a good note. Thank you all for your continued support and participation. Thank you sir. We’ll now begin. Amita, would you like to add anything on the financial front. Or shall we proceed with Q A?<\/p>\n

Amitabha Bhattacharya<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

I think let’s go with this presentation once so that people will have a very clear clarity on that. So we can go with the question.<\/p>\n

Rupesh Kumar Gupta<\/strong> \u2014 Managing Director<\/em><\/p>\n

Okay.<\/p>\n

Questions and Answers:<\/h2>\n

operator<\/strong><\/p>\n

Thank you. We’ll begin the question and answer session. All those who wish to ask a question please use the option of raise hand. We’ll take the first question from Aryan Bhatia. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thanks. Thanks for the opportunity. Sir, my first question is regarding the drop in EBITDA button. So can you specify the reason? Is it due to the lower steel prices and if it is? And I just wanted to know after the anti dumping duty that government has imposed what is the steady state EBITDA button we are expecting.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

That is decent enough which has been calculated related to your raw material pricing including coal, iron ore and all substitute. Which is not a major one but.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so from 7 to 8,000. Got it. And so my second question is regarding again the anti dumping duty. If I Remember correctly, we used to import some of the HR coils due to the lower prices. But now that government has imported. Sorry. Imposed the anti dumping duty. So do you see some impact on our EBITDA button due to this? Only because we were previously importing some HR coil which were cheaper than the current domestic.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Thanks government in his particular participation anti dumping duty in related to fluctuation in the market. To saving them. And within the India premises. I think anti dumping duty and it is supported.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay, got it. And so my last question is on our integration we were imposing. Sorry. We were planning a steel plant in Gachiroli. So any. Any. What is the outlook for that?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

So the MoU. The MoU was signed by Maharashtra government for Bachiroji project which it is under process. So the documentation part is going on. We are not aggressively having anything in hand. Now government has to allot us a land which is with my msdcl. And after that only we’ll be getting some clarity after land allocation. So we are waiting for things to happen. We think by end of this year we will be getting the land in hand and moving ahead. I think one lap year, two years we have to get that EC and other processes will be there.<\/p>\n

After that only things will be moving ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Got it. Got it. And so my last question is regarding our 30% guidance volume guidance. So are we still intact and what is our expansion plans or the next?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah. So this quarter we have been 21% of our plans. And as you know this fourth quarter will always be a beneficial one. And moving ahead we are expecting new growth in our value added chain also. And on the similar guidelines we are working. And I think we’ll be very near to the guidelines.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. And so my last question is like do you think there is enough demand? Because if I look at all the players they are expanding their capacity quite rapidly. So. But if I look at the growth, the growth has not been that far. So do you think there is a case of oversupply regarding the ERW pipes or black pipes? Because if I look.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah. So I mean basically the policies with the government and other things which has disturbed as geopolitical issues are also a part of our commodity products and the pricing and other things. So basing on those lines in India, especially in southern part of India like Hyderabad, Telangana and Andra and Karnatak. We find a good, very good growth. And we expect the things should move out. Well. It is all about between some. Some months. Demand wise. We are excellently good, well placed in the market.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Got it, Got it. Thank you. That’s on my side.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. We’ll take the next question from Vijay Chauhan. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Thanks for the opportunity. So my first question in the realization side. So if you look at the current quarter realization somewhere it’s around 53 000. So how do we see it shaping up into the quarter four and FY27?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

So quarter four will always be a beneficial one and the average pricing which should minimum move around 55 000. What is our expectation? Between 500 to 55,000 which is our expectation. And we feel that the demand in the and the sur in the prices is already being accepted by the market or market prices. So we expect a good hike in the price also.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. So around 54, 55 is what we are expecting for quarter four. It’s.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

It’s an average pricing.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Okay. And on the volume side, so the guidance on the 30 volume growth. So if I recollect we had done in quarter four previous year somewhere around 74,000 in quarter four. So like are we expecting the same like trajectory going at maybe 95,000 or 1 lakh as per your visibility. Because already one month is already over. So would you like to put some light so that we get like some clarity on that part?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah. 90,000 plus we are. It’s a thing we can easily put on our things or as you know this 21 is already being touched upon and moving ahead. It will automatically grow on So I think 95,000 easily. 90 to 95.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. So it will be around 30, 27, 28% kind of growth that you are targeting on the quarter four versus this one and which are the segments or sectors like you are seeing much demand in this quarter four and also from the long term based on the your assessment on the budget.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

So budget has not given much of support to pricing. So it was normal only apart from that dealers network that is already being grown up. Every year, one year it is getting grown up. So market case, ice co and capacity co marketing and other processes. Demand of pipes is also good.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, that will be all from my side. Thank you and good luck for the future.<\/p>\n

operator<\/strong><\/p>\n

Thank you. We’ll take the next question from Smith Gala. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, thank you for the opportunity. Existing Southern market say 30% growth, 30% guidance if markets.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Thank you. That is only one part of the business. Other part is basically. Government supplies, New product development and visibility in the market will be there.<\/p>\n

Amitabha Bhattacharya<\/strong><\/p>\n

Add on to that in our earlier presentation also we have clearly mentioned that our B2B sales is 15 now it is gone up to 21% till 9 months. So slowly and gradually we are going into that B2B who is corporate clients and OEM manufacturers. So we are supplying to them in that way. Also the whatever our target of demand that we can match.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, second question. Depreciation Q1 may around 14 crores or Q3 as far as major capacity addition significantly depreciation factors.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah, Basically ROU assets long term lease agreement. So like in rou assets. Q3 maybe increase. Nine months later on second half of the Q2. I think in the month of July. July end. Okay. Total Total 18.02 as on December 25th. Nine months September 6.02. December Q2 versus Q3 to be precise 6.46 versus 6.02 assets Metha 1.22 Q3 and Q2 method 0.64.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, last question. Longer term vision. So FY30 volume growth target or fair apnea capacities around end of FY27 optimum mutilation 70, 75%.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Basically aggressive company. It is not every year we’ll jump on with some good opportunities and all it is all about evaluation of the opportunity. Opportunity add on to the business. We are moving very aggressively on it. Volume 30 consistently 30% capacity. That will come across the lines only. Okay, okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. I’ll join back to queue.<\/p>\n

operator<\/strong><\/p>\n

Yeah, thank you, Smith. We’ll take the next question from Kashish Gandotra. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thanks for the opportunity, sir. Firstly. Last two years revenue although 2025%. But Pat is almost going in a single digits. Almost single digit. So growth PAT level 20%. 20% but PAT was only up by 56%. 20 25%.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Sir. Basically though parameter. Parameter consistently 12.5k per hour depreciation and finance cost. Finance cost maybe Average finance cost Almost all working capital 7.79%.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Rate of interest 7.9 K as per Sarah. Which is pretty good in the present financial market. And moreover that Q3 2026 total finance cost 13.5 13% Johan EIR concept May CFI may lease liability. Actual cash outflow. 30 plus 30 volume growth. Last year 4.69 k5 casper da3. Substantially life of the useful assets. Major portion down. Enhancement or increase.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Next two years 2025 similar kind of a growth we can expect at a PET level also. Will that be the right judgment? Okay, fine. So thank you. So second question is regarding like you mentioned, Hamada renewable energy plant apr 26 start hoga. So first two three quarters contribute bottom way you think first two first quarters at least it will be near about break even.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

It is nearby break even it will be near even break even first two three quarters depreciation impact, Depreciation cost it is nothing but internal cash accrual.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

If you can just give a number.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

That would be helpful it is quite difficult.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure sir. Thank you so much sir Thanks a lot.<\/p>\n

operator<\/strong><\/p>\n

Thank you Kashish we’ll take the next question from Prani thready Please go ahead. Yes Praneet. Hello. We’ll move on to Sagar Shah Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello is my. Am I audible?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes yeah. First of all thank you for the opportunity and congratulations sir. Mira. First question subsidiary Metal Mart Private Limited so incorporation basically and Hariyom Pipe will hold around 70% of the company Trading of metal and stereo light products business corporate announcement first of all subsidiary or vision to actually form the subsidiary business on a console basis.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Market key profitability and market key demand cannot go without a calculation on without fact and figure for any further capex so that is why we are creating a platform where the trading margin is very less and if I am not created a subsidiary company then this put on our directly to our balance sheet and which is in fact to very difficult for us to distinguish between the what are the trading sales and what are the manufacturing cells so far hurry on Track record is 12.5 cube per EBITDA subsidiary. From the other manufacturer Therefore automatically EBITDA percentage down.<\/p>\n

Accountability and transparency and corporate governance Subsidiary company Create subsidiary company. Customers base customer demand and product new.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Demand. Future expansion line of activity and moreover these companies actually focused on western and northern part of India. As a trading Kita Kamara. Without any confusion.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

I say multiple imported stuff electronic division oil and gas transformers multiple range of production it all depends on the tie ups with the OEMs and what are they demanding and what are we getting that produced and giving it it is not fixed with any particular region or particular product.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Gross margin sir.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

We will work on the margins wherein profitability otherwise will not go inside it. As a manufacturer trading terms it is very clear that is why we have created separate. Subsidiary. Otherwise subsidiary. Being a manufacturer. Or northern and western part of market Previous participant. Yes northern and western side maybe. Profitability. Tomorrow start it will start that kind of product also manufacturing Then Hario margin will be booster.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Next growth utilization general or valued maybe Ms. Tubes or scaffolding systems so utilization GP pipes or GP coils what is the utilization right now.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Presentation. Total Joe capacity around 3 lakh tons galvanized pipes and coils. Nine months may total contribution K volume to be precise 77,230 plus 51,001 22,046. Metric nine months almost 40% utilization. P right sir.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

50% cash. 50 ending 50%. I think GP realization or margin valuated may be valuated. Maybe it’s X plus one. So can we expect some sort of realization increases or if we scale this kind of product more.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yes, yes. Yes definitely realization. But yes, you are right. Absolutely right. Realization quantity, gross realization, Total installed capacity 3 lakhs. Rather than pipe operational level production.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Next year. Next year sir. Look 20 growth guidance volume terms May I think contributions other GP right sir. Utilization of sky contributions.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Absolutely correct.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Thank you sir. So much and all the best. Thank you.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. Sagar. We’ll take the next question from Prani Thready. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Am I audible? Yeah. Given that Anantapur sponge iron plant is around 300-400km away from existing pipe mills and pipes are very heavy to transport, would it make strategic sense over the long term to evaluate a small to mid size pipe mill near Anantapuram? With the infrastructure and industrial development happening in Andhra so such a unit could act as a feeder plant and serve nearby markets more efficiently.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah. So basically that is only we are holding a sponge RN unit and all the Swanjaran which has been manufactured has been transported to Hyderabad. So now recently the public hearing results are coming out. And recently two days back we had an meeting also online in which we’ll be having the clarity will come for the EC and further moving we can plan out the cleaning production and other things also. So moving ahead we never know if at all the opportunity is there. The market conditions are there. We can go for additional capacities in also because we are having the land as well.<\/p>\n

And the government of Andhra is also cooperative in those terms. And we can move ahead in that plans also. Yes, because of there is more industrial activity happening. Yeah, yeah. And the demands are also good in Andhra. Moving ahead we see Andhra will be a very strong player and in terms of consumption. And we can get the help from the government also.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

My second question is entering into branded play and which 12 executions if done well could truly change the company’s trajectory.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Sorry, I haven’t got that.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Do you see Harum entering into branded play?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah. I mean the Hariyom brand is well accepted in the market and peoples are demanding that particular quality. What we are delivering, it’s the process what we are driving on on time delivery, quality, rust free material but free material. All these things with an ISI grading and all. Everything has been provided to the customers. So customers are very happy. And repeatedly after all you see our repeated customers are not going anywhere and we are adding on new customers.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And which one to executions in longer term if done well as per you could truly change the company’s trajectory.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

It’s a OEMS and the government projects what we will be supplying will also help us out in the profitability and the numbers.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Right now state is giving the most revenues. Revenue contribution.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Revenue from the state?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, like state wise bifurcation or something like that. Which state is giving more revenue?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Basically. Basically our major revenue is coming from Karnataka, Kerala and third position is Andhra Pradesh.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you sir.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

The first one is Karnataka, second Kerala and third is Andhra Pradesh.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so do we have DFT installed in our plants?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Yeah, direct forming technology. That is in ultra is there but that is earlier version of DFT present version of technology.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Are we planning to upgrade anything or not exactly dft.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And what about any color coated products? Are we planning to add any?<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Not now. We are not trying to add on any color coded products at all but value added products. Yes. CRV are doing excellently well. Galvanizing we are doing good. And coil galvanizing also we are doing very good. And only things are also being padded out. CRFH coils, CR coils, All these things are in place basically. So we are not planning.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

We already have color coated products.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

No, we don’t have any electronics.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Oh, okay. Thank you. Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. Prani. We’ll take the follow up question from Smith Gala. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, thank you for the follow up. Joe Apnea trading subsidiary here. Oh, operational numbers may Exactly. Expectations qualitatively. Trading subsidies.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Basically it’s a new new team which is really working very closely to that or it is all about opportunity and the safety of the amount which we will be incurring credit market. It is more about receiving the amounts also parameters. It will initially start with a small volume only and after a quarter time only we’ll come to know what exactly will be the numbers. It is only incorporation because of bifurcation and governance part. So I think march and april first week.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. March end or april. Initial phases Employee expenses or pressure.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Market hair. Market hair. Existing team players. They have been part of a family now.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Thank you. Thank you. Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. Smith. Anybody who wishes to ask a question please use the option of raise hand. Since there are no further questions. Would you like to give any Closing.<\/p>\n

Rupesh Kumar Gupta<\/strong><\/p>\n

Comment so basically Closing Comment. Policies Infrastructure Just a closing remark. I would like to reiterate that Hario Pipe Industries continues to remain focused on stable growth, disciplined execution and long term value creation despite market fluctuations. The company has maintained consistent operational performance supported by a strong value added product mix and efficient utilization of capacity. Our strategic initiatives including expansion in value added segments and progress in renewable energy, continue to strengthen the Company’s long term positioning with steady demand visibility and improving operational stability. We remain confident of closing this financial year on a good note and continuing our growth journey in the coming periods.<\/p>\n

We sincerely thank all our investors, analysts, vendors, partners and employees for their continued trust and support. Thank you all.<\/p>\n

operator<\/strong><\/p>\n

Thank you sir. We thank the management team and all the participants for joining on this call. This brings us to the end of this conference call. Thank you. The recording has stopped. It.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hariom Pipe Industries Ltd (NSE: HARIOMPIPE) Q3 2026 Earnings Call dated Feb. 09, 2026 Corporate Participants: Rupesh Kumar Gupta \u2014 Managing Director Amitabha Bhattacharya \u2014 Chief Financial Officer Analysts: Unidentified Participant Presentation: operator Ladies and gentlemen, on behalf of Captify Consulting Investor Relations team I welcome you all to the Q3 and 9 months FY26 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