Hariom Pipe Industries Signs ₹700 Crore MoU For Integrated Steel Plant In Andhra Pradesh

Key numbers

Market Cap	₹929.64 CrSmall Cap
P/E Ratio	13.53Sector PE 16.46
RSI	28.93Oversold Zone
Deal value	₹700 Cr
Share of market cap	75.3%
Share of annual revenue	42.8%

Key highlights

• Proposed investment of approximately ₹700 crore for an integrated steel plant
• MoU signed with Andhra Pradesh Economic Development Board (APEDB) on October 23, 2026
• Project to be located at the company existing unit in D. Hirehal, Anantapur District
• Agreement is non-binding and carries a validity period of 12 months from signing
• Facilitation includes land allotment assistance and Union Government discussions
• Proposed deal value represents approximately 75.3 percent of the current market capitalization

The Proposed ₹700 Crore Expansion in Anantapur

Hariom Pipe Industries Limited has formalised its intent to expand its manufacturing footprint by signing a Memorandum of Understanding with the Andhra Pradesh Economic Development Board. The proposed investment of ₹700 crore is significant relative to the company current market capitalisation of ₹929.64 crore and represents approximately 42.8 percent of its TTM revenue. This capital will be directed toward establishing an integrated steel plant at the company existing facility in D.

Hirehal, Anantapur District. Under the agreement, APEDB will act as a facilitator, assisting with land allotment processes and coordinating discussions with the Union Government regarding incentives and project approvals.

Key Terms and Facilitation Scope

• The Memorandum of Understanding is non-binding and valid for a duration of 12 months
• APEDB will assist in securing necessary statutory clearances and government approvals
• The project remains subject to applicable government policies and regulatory procedures
• No new legal entity or special rights like board representation have been created under the MoU
• Facilitation includes assistance in discussions with the Union Government of India

Strategic Context and Industrial Pipeline

This move follows a previous commitment on September 19, 2025, when the company signed a ₹3,135 crore MoU with the Government of Maharashtra for an integrated steel plant in Gadchiroli. The current Andhra Pradesh project aligns with management guidance to reach a sales volume target of 350,000 to 360,000 tonnes by FY27. Furthermore, the company is progressing on a 60 MW solar project aimed at backward integration, with 15 MW operational as of October 2024 and full commissioning targeted for March 2027.

These expansionary steps are taken as the company reports a quarterly net profit of ₹16.6 crore, which declined 29.7 percent year-on-year.

What to watch next

• Announcement of Q2 FY27 financial results scheduled for November 09, 2026
• Full commissioning and operationalisation of the 60 MW solar project by March 2027
• Finalisation of land allotment and statutory clearances for the Anantapur integrated steel plant

Hariom Pipe Industries · financial snapshot

Share price	₹300.2
Market capitalisation	₹929.64 Cr
Revenue (annual)	₹1,666.95 Cr
Net profit (annual)	₹75.71 Cr
Revenue (latest quarter)	₹429.18 Cr-15.39% vs previous quarter
Net profit (latest quarter)	₹16.60 Cr-44.86% vs previous quarter
P/E (TTM)	13.53×Sector 16.46×
Promoter holding	57.26%0.00% QoQ
FII holding	10.39%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.