Indian Hume

By Research Desk
about 8 years ago
Indian Hume

 

Indian Hume Pipe is a part of Seth WalchandHirachand group, been in existence since 1926-27. And in the past 90 years, it has omitted dividend payment in only nine of the intervening years till date, and this includes the first four years of its existence. This is indeed a very credible achievement by any yardstick.  In fact, last week it declared an interim dividend of 150% or Rs.3 /share (FV Rs.2/share) and a Special Dividend to celebrate its 90th Anniversary of Rs.0.20 or 10%. This means total interim dividend for FY16 stands at 160%.

The stock was in the limelight yesterday after it announced that it had secured a water supply contract worth Rs 145.15 crore in Alwar, from the Government of Rajasthan.

Its performance for Q3Fy16 was disappointing. Net sales dropped 25% (YoY) at Rs.198 crore and that consequently led to a fall all around. It ended the quarter with a net profit of Rs.6 crore, halving from Rs,12 crore in previous Q3. Equity of the company is tiny at Rs.4.84 crore, 69.92% is held by the promoters. Reserves as at end of 9MFY16 stood at Rs.282 crore. Maybe a bonus soon?

254.70 (-0.50)

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