Hariom Pipe Industries Limited (HARIOMPIPE) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Hariom Pipe Industries Limited ₹416, price ₹332, upside +25.1%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
54‑month range ₹181.56 – ₹867.06 · fair‑value band ₹311.71 – ₹519.51 · the ₹332.35 price screens below the ₹415.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Hariom Pipe Industries Limited manufactures and sells iron and steel products in India.
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Hariom Pipe Industries Limited manufactures and sells iron and steel products in India. It offers mild steel pipes, tubes, and billets; hot and cold rolled square, rectangular, and circular pipes and tubes; hot dipped galvanized pipes; pre galvanized pipes; and cold rolled full hard, pre galvanized, hot rolled pickled and oiled, and cold rolled closed annealed slit coils. The company also provides scaffolding solutions, such as cuplocks, telescopic props/adjustable props/jacks, spans/acro spans/telescopic spans/adjustable spans, H frame systems, fixed base plates, adjustable base plates, stirrup head/universal jacks, spigot/joint pins, jalli/plank/platform products, and clamps/ couplers. It offers its products for various applications, including chemical, construction, automotive, manufacturing, infrastructure, steel manufacturing, ferroalloy production, powder metallurgy, furniture and interior design, fabrication, maintenance, events, metal fabrication, automotive parts manufacturing, industrial, irrigation, plumbing systems, agricultural machinery, roofing, industrial equipment, and transportation. Hariom Pipe Industries Limited was incorporated in 2007 and is based in Hyderabad, India.
Stock analysis
Hariom Pipe Industries Limited (HARIOMPIPE) currently trades at ₹332.35, while our model-based Fair Value estimate is ₹415.61, implying the stock looks roughly 20.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹982.81 per share, and 10 of the 16 models we run sit above the ₹332.35 price.
Bear case: the Asset-Based group reads lowest at ₹139.88, and 6 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹311.71 (bear) to ₹519.51 (bull), the price of ₹332.35 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hariom Pipe Industries Limited reported revenue of ₹16.7B in FY2026 versus ₹4.3B in FY2022, a compound +40.3%/yr. Reported net income was ₹757M in FY2026, compounding +24.1%/yr from FY2022.
Key figures
Market cap ₹12.3B (≈ $128M) · P/E ratio 13.6 · P/S ratio 0.62 · EPS (TTM) ₹24.45 · Dividend yield 0.2% · Net margin 4.5% · Return on equity 12.4% · Return on assets (EBIT) 15.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at 25%, HARIOMPIPE screens cheaper than that median.
Fair Value models
Bear ₹311.71Fair Value ₹415.61Bull ₹519.51
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹11.95 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+22.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+37.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+45.7%
Start year 2021 (pandemic). Over 10 years: +36.6% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.6%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.1%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.1% vs 45.8%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 9%
Compare Hariom Pipe Industries Limited with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 407 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside+25.1% · Above median
Profitability
Return on equity (TTM)12.4% · Top 25%
Return on assets7.5% · Top 25%
Net margin (TTM)4.5% · Above median
Operating margin (TTM)9.2% · Above median
Growth and dividend
Revenue growth26.9% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.22× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
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Is Hariom Pipe Industries Limited (HARIOMPIPE) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹415.61 versus a price of ₹332.35, about +25% upside (undervalued).
What is the fair value of HARIOMPIPE?
Our model-based fair value for Hariom Pipe Industries Limited is ₹415.61 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹332.35.
What is the quality score of HARIOMPIPE?
Hariom Pipe Industries Limited has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hariom Pipe Industries Limited (HARIOMPIPE)?
Our model-based price target is the fair value of ₹415.61 (as of Sep 27, 2026) from 16 valuation models. Cautious scenario ₹311.71, optimistic scenario ₹519.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Hariom Pipe Industries Limited stock forecast for 2026?
Our models put fair value at ₹415.61, about +25% upside versus a price of ₹332.35 (undervalued). Cautious scenario ₹311.71, optimistic scenario ₹519.51. The calculation is refreshed regularly with new filings.
What is the revenue of Hariom Pipe Industries Limited (HARIOMPIPE)?
Hariom Pipe Industries Limited reported trailing-twelve-month revenue of about ₹16.7B (latest available figure, as of Sep 27, 2026).
Does Hariom Pipe Industries Limited pay a dividend?
Hariom Pipe Industries Limited currently shows a dividend yield of about 0.23% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Hariom Pipe Industries Limited (HARIOMPIPE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hariom Pipe Industries Limited it is ₹415.61 per share (as of Sep 27, 2026), against a price of ₹332.35. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Hariom Pipe Industries Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, HARIOMPIPE trades below its calculated fair value: price ₹332.35, fair value ₹415.61, a gap of about +25% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HARIOMPIPE?
No. The price is what the market pays today (₹332.35); the fair value is what the company's own numbers justify (₹415.61). For Hariom Pipe Industries Limited the two are ₹83.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hariom Pipe Industries Limited worth?
The market values Hariom Pipe Industries Limited at about ₹12.3B (market capitalisation, as of Sep 27, 2026). Per share that is ₹332.35; our models calculate a fair value of ₹415.61 per share.
What do the bullish and bearish scenarios say about HARIOMPIPE?
Our models span a range for Hariom Pipe Industries Limited: cautious scenario ₹311.71, base ₹415.61, optimistic ₹519.51 per share (as of Sep 27, 2026, price ₹332.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HARIOMPIPE?
Hariom Pipe Industries Limited trades at a price-to-earnings ratio of 13.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹415.61 is built from several models across several years. Other multiples: P/B 1.9, P/S 0.7, EV/EBITDA 6.6.
How solid is the balance sheet of Hariom Pipe Industries Limited (HARIOMPIPE)?
Balance-sheet figures for Hariom Pipe Industries Limited (as of Sep 27, 2026): return on equity 12.4%, debt of 0.22 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is HARIOMPIPE from its 52-week high?
Hariom Pipe Industries Limited trades at ₹332.35, about 33% below its 52-week high of ₹496.00 and 23% above the low of ₹270.15 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹415.61 is for.
Which stocks are comparable to Hariom Pipe Industries Limited?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hariom Pipe Industries Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹332.35, calculated fair value ₹415.61 (+25%), Quality Score 43/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HARIOMPIPE calculated?
We run Hariom Pipe Industries Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹415.61, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3 % above its aggregate fair value. Hariom Pipe Industries Limited currently trades 20 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hariom Pipe Industries Limited (HARIOMPIPE)?
The closing price on Oct 1, 2026 was ₹332.35. Our model-based fair value is ₹415.61, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hariom Pipe Industries Limited right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Hariom Pipe Industries Limited (HARIOMPIPE) come from?
Earnings per share at Hariom Pipe Industries Limited grew +49.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +27.1 %, EBIT margin +11.7 %, tax rate +1.1 %, residual (interest, one-offs) +4.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hariom Pipe Industries Limited
How large is the market capitalisation of Hariom Pipe Industries Limited (HARIOMPIPE)?
The market capitalisation of Hariom Pipe Industries Limited is ₹12.3B (≈ $128M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hariom Pipe Industries Limited (HARIOMPIPE)?
The price-to-sales ratio of Hariom Pipe Industries Limited is 0.62 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hariom Pipe Industries Limited (HARIOMPIPE)?
Earnings per share at Hariom Pipe Industries Limited are ₹24.45 (price ÷ EPS = P/E 13.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hariom Pipe Industries Limited (HARIOMPIPE)?
The dividend yield of Hariom Pipe Industries Limited is 0.2% (payout 3.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hariom Pipe Industries Limited (HARIOMPIPE)?
The net margin of Hariom Pipe Industries Limited is 4.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hariom Pipe Industries Limited (HARIOMPIPE)?
The return on equity (ROE) of Hariom Pipe Industries Limited is 12.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hariom Pipe Industries Limited (HARIOMPIPE)?
On an EBIT basis the return on assets of Hariom Pipe Industries Limited is 15.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hariom Pipe Industries Limited (HARIOMPIPE)?
The operating margin of Hariom Pipe Industries Limited is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hariom Pipe Industries Limited (HARIOMPIPE)?
Revenue at Hariom Pipe Industries Limited is growing +26.9% versus a year earlier (3y avg +37.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hariom Pipe Industries Limited (HARIOMPIPE)?
Earnings per share at Hariom Pipe Industries Limited are growing +74.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hariom Pipe Industries Limited (HARIOMPIPE) generate?
The free cash flow of Hariom Pipe Industries Limited is −₹209M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hariom Pipe Industries Limited (HARIOMPIPE) carry?
The net debt of Hariom Pipe Industries Limited is ₹4.0B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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