I had mailed to the company and they replied me as follows.
Dear Sir,
First of all congratulations to the team of Hariom Pipe Industries Limited on a great set of numbers in Q3 of FY 2024. Company is on the way to achieve its goal of ₹ 2,500 crore revenue guidance by FY 2026 without compromising on probability. Company did a great job in every parameter. However, I wanted to know the following things because I want to understand the company in a deeper way as I’m an investor in this company.
- Company do exceptionally well, then why company not hold earnings conference calls?
- Why is the company is not cooperating with rating agency i.e., CARE RATINGS?
- Is there any planning to raise equity funds in the foreseeable future?
It is requested to reply to the abovementioned. Quick reply will be greatly appreciated.
Dear Mr. Sumit,
Thank you for your congratulations and keen interest in the performance of Hariom Pipe Industries Limited. We truly appreciate your support and dedication to understanding our company in depth.
Allow me to address your queries:
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Regarding earnings conference calls, while it’s true that we haven’t held such calls in the past, we are actively working on initiating them in the near future. We understand the importance of transparent communication with our valued investors, and conducting earnings conference calls will be an integral part of our efforts to enhance shareholder engagement.
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Concerning our cooperation with rating agencies, we want to clarify that Hariom Pipe Industries Limited has been engaged in an External Credit Rating process with CRISIL LTD for the past 4 to 5 years, resulting in an A- Rating. The agreement with CARE RATINGS had lapsed, but they retain the authority to continue the process. We are currently in discussions with CARE RATINGS to formally conclude the agreement and withdraw the rating process from their purview, adhering to all legal procedures.
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As for raising equity funds, there are no immediate plans to pursue this avenue. We believe in prudent financial management and are committed to exploring various financing options to support our growth ambitions without compromising on the interests of our shareholders.
It’s important to note that Hariom Pipe Industries Limited remains dedicated to keeping our shareholders informed about all significant developments related to the company. We consistently update pertinent events through the stock exchange, ensuring transparency and accountability.
Furthermore, we are actively working on organizing conference calls with our shareholders, providing a platform for direct interaction and sharing insights into our performance and future prospects.
Your continued support and interest in Hariom Pipe Industries Limited are invaluable to us, and we look forward to your ongoing partnership as we navigate the path to sustained growth and success.
Thank you once again for your inquiries, and please feel free to reach out if you have any further questions or require additional information.
Thanks & Regards
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