ITI Capital Ltd
Hariom Pipe Industries Limited (“Hariom”) was incorporated on June 21, 2007. Hariom is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron. As part of the B2B sales, the company sells MS Pipes and Scaffoldings to specific developers and contractors. Hariom Pipe Industries has more than 200 dealers and distributors for selling its products. The company is located in Hyderabad, Telangana.
The company operates two plants, one at Mahabubnagar District in Telangana (Unit I) that manufactures finished steel products from iron scrap and sponge iron and the second plant at Anantapur District, Andhra Pradesh (Unit II) that only manufactures Sponge Iron.
Hariom Pipe Industries has more than 200 employees, 1400 plus Retailers distribution network, 150 plus manufacturing specifications, and a total of 300832 MT manufacturing capacity. Rupesh Kumar Gupta and Sailesh Gupta are the company promoters.
For year/ period ended ( in Cr.)
|Profit After Tax||12.87||15.13||7.91|
The company is available at the upper end of the IPO price band at 15.1x its FY22 annualized earnings. At the upper end of the IPO price band, the issue is priced at a P/BV of 3.1x based on its NAV of Rs. 49.79 as of March 31, 2021. The Company have delivered good growth in Sales over past few years along with stable margin profile. Hence, investor can subscribe this issue for medium to long term perspective.