Hariom Pipe Industries reported a steady Q3 FY26 with revenue from operations at ₹1,159.7 crore, up 21% YoY, driven by a 21% YoY increase in sales volume to 2.07 lakh tonnes.
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The new trading subsidiary (MetalMart) may have lower margins than manufacturing, potentially diluting consolidated margins. Management acknowledged this but expects transparency benefits.
medium · analyst_questionDepreciation increased significantly due to ROU assets from the Ultra Pipes acquisition, compressing PAT growth despite revenue expansion. Management expects this to stabilize.
medium · analyst_questionThe planned steel plant in Gadchiroli, Maharashtra, is still awaiting land allotment from MSDCL. Management expects land by end of FY26, but further progress may take 1-2 years.
low · analyst_questionFluctuations in steel prices and the imposition of anti-dumping duties on HR coils could affect input costs and margins. Management believes the duty is supportive for the industry.
medium · management_commentary