1. Financial Results Approval

The Board approved the Audited Financial Results (Standalone & Consolidated) of the Company for the quarter and year ended March 31, 2026, along with the Audit Reports with unmodified opinion issued by the Statutory Auditors, pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015.

2. Dividend Recommendation

The Board recommended a final dividend of ₹0.75 (Seventy-Five Paise) per equity share of face value of ₹10 each (i.e., 7.5%) for the financial year ended March 31, 2026. The dividend, if declared by the Members of the Company, will be credited/dispatched to the Members within 30 days from the date of declaration. The total dividend payout aggregates to ₹232.25 lakhs. Further details, including the record date, will be provided to the stock exchanges in due course.

3. Auditor Appointments

Based on the recommendation of the Audit Committee, the Board approved:

  • Reappointment of M/s. R Kabra & Co, LLP, Chartered Accountants (Firm Registration No. 104502W/W100721), as Statutory Auditors for the second term of 5 consecutive years from the conclusion of the ensuing 19th Annual General Meeting till the conclusion of the 24th Annual General Meeting, subject to shareholder approval.
  • Reappointment of M/s. Ravi Ladia & Co., Chartered Accountants as Internal Auditors for the Financial Year 2026-27.

4. Management Re-designation

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the re-designation of Mr. Yash Gupta as Vice President (VP) - Sponge Division as Senior Management Personnel of the Company effective May 22, 2026.

Financial Results Details

Standalone Financial Performance (₹ in lakhs)

Quarter ended March 31, 2026:

  • Revenue from operations: ₹50,726.85
  • Other income: ₹94.15
  • Total income: ₹51,668.00
  • Total expenses: ₹47,490.18
  • Profit before tax: ₹4,177.81
  • Tax expense: ₹1,159.47
  • Net profit: ₹3,018.34
  • EPS (Basic): ₹9.75
  • EPS (Diluted): ₹9.75

Year ended March 31, 2026:

  • Revenue from operations: ₹1,66,695.39
  • Other income: ₹131.93
  • Total income: ₹1,68,014.65
  • Total expenses: ₹1,57,682.00
  • Profit before tax: ₹10,386.41
  • Tax expense: ₹2,803.65
  • Net profit: ₹7,582.77
  • EPS (Basic): ₹24.49
  • EPS (Diluted): ₹24.49

Consolidated Financial Performance (₹ in lakhs)

Quarter ended March 31, 2026:

  • Net profit: ₹3,009.99
  • Total comprehensive income: ₹3,013.65
  • EPS (Basic): ₹9.72
  • EPS (Diluted): ₹9.72

Year ended March 31, 2026:

  • Net profit: ₹7,570.78
  • Total comprehensive income: ₹7,573.78
  • EPS (Basic): ₹24.45

Balance Sheet Position (Standalone as at March 31, 2026, ₹ in lakhs)

  • Total assets: ₹1,18,241.72
  • Equity share capital: ₹3,096.73
  • Other equity: ₹61,567.52
  • Total equity: ₹64,664.25
  • Non-current liabilities: ₹15,094.29
  • Current liabilities: ₹38,483.18

Cash Flow Statement (Standalone for year ended March 31, 2026, ₹ in lakhs)

  • Net cash flow from operating activities: ₹19,208.44
  • Net cash flow used in investing activities: ₹(11,047.42)
  • Net cash flow from financing activities: ₹(10,718.09)
  • Net decrease in cash equivalents: ₹(2,557.02)
  • Closing cash equivalents: ₹45.14

Key Notes to Financial Statements

1. Subsidiary Investment

The Company invested in Metal Mart Private Limited, a subsidiary incorporated on January 22, 2026, with authorized share capital of ₹10.00 lakhs. The Company subscribed to 70,000 equity shares of ₹10 each, aggregating to ₹7.00 lakhs, representing 70% of the paid-up equity share capital. The subsidiary engages in trading activities in metals and steel allied products.

2. Labour Codes Implementation

Effective November 21, 2025, the Central Government introduced Labour Codes comprising four laws. The Company has evaluated the impact based on available information and accounted for incremental liability where applicable. Based on present assessment, no significant impact on financial results. The Company will continue evaluating impact based on further notifications.

3. Credit Ratings

The Company received CRISIL A- for Long term (Bank facilities) and CRISIL A2+ for Short term (Bank facilities).

4. Tamil Nadu Plant Closure

The Company received directions dated April 01, 2026 from Tamil Nadu Pollution Control Board under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974, for temporary closure of operations and disconnection of power supply at its unit located at SIPCOT Industrial Growth Centre, Perundurai, Erode District, Tamil Nadu. The Company has initiated corrective measures and is taking steps for restoration of operations. Impact is being mitigated through alternate operations at Telangana unit, and based on present assessment, impact is expected to be temporary. Financial impact not quantified in the disclosure.

5. Segment Information

Based on management approach under IND AS 108, the Company operates primarily in manufacturing & selling of Steel Products as a single business segment. No segment-wise disclosure provided.

6. Auditor Emphasis Matter

Auditors drew attention to Note 6 regarding temporary closure notice for Perundurai plant, impact not ascertained. Audit opinion not modified.

Documents Availability

The audited financial results and related documents are available on the Company's website (https://www.hariompipes.com/) and on stock exchange websites (www.bseindia.com and www.nseindia.com).