Hariom Pipe Industries Limited (HARIOMPIPE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2582.9%

-₹8,164.91

vs ₹328.85 price

Levered DCF

-₹8,236.65

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.25×	16.67×	24.56×	26.16×	12.27×	21.71×	74.52×	73.33×
P/B	1.32×	1.83×	3.01×	3.22×	5.83×	4.64×	12.18×	16.31×
P/S	0.51×	0.77×	1.21×	1.88×	1.37×	1.29×	3.66×	4.41×
EV / EBITDA	5.63×	7.96×	12.28×	17.12×	12.04×	11.66×	27.69×	37.13×
Gross margin	10.2%	18.0%	17.0%	28.1%	32.4%	32.0%	43.6%	37.0%
Operating margin	8.6%	14.3%	12.9%	11.3%	11.2%	11.1%	11.4%	11.1%
Net margin	4.5%	4.5%	4.9%	7.2%	7.4%	6.0%	4.9%	6.0%
Current ratio	1.68×	1.45×	1.68×	2.12×	1.96×	1.62×	1.45×	1.74×
Debt / equity	0.63×	0.7×	0.8×	0.79×	0.87×	1.13×	1.41×	1.55×
Interest coverage	2.69×	4.33×	4.56×	7.03×	5.86×	3.77×	2.44×	4.32×
Dividend yield	0.2%	0.2%	0.0%	0.0%	0.0%	0.0%	0.1%	0.0%
Payout ratio	2.5%	3.0%	0.0%	0.0%	0.0%	0.0%	10.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.7%	10.8%	12.2%	12.3%	31.6%	21.4%	16.4%	22.2%
Return on invested capital	9.8%	14.6%	12.9%	7.9%	18.8%	13.1%	10.8%	11.0%
Return on assets	6.2%	5.2%	6.5%	6.5%	14.8%	8.7%	5.7%	7.8%
Free cash flow yield	-2.4%	-2.6%	-16.2%	-26.7%	-0.1%	-4.1%	-1.9%	-4.9%
Earnings yield	8.9%	5.9%	4.1%	3.8%	5.4%	4.6%	1.3%	1.4%
Enterprise value	₹12.5B	₹14B	₹17.7B	₹14B	₹6.8B	₹4.1B	₹6.5B	₹6.4B
Net debt / EBITDA	1.8×	2×	2.58×	2.36×	1.56×	2.27×	2.81×	3.01×
Cash conversion cycle (days)	113	133	145	203	156	190	231	164