Indian Hume Pipe surges by 6 per cent on order win

Indian Hume Pipe Limited has bagged an order of Rs. 256.19 crores from Tamil Nadu Water Supply & Drainage Board, Coimbatore. 

The order consists of providing Combined Water Supply Scheme to Alampalayam Town Panchayat, Padaveedu Town Panchayat including 669 Rural Habitations in Pallipalayam and Tiruchengode Unions in Namakkal District and Sankari Town Panchayat in Salem District with River Cauvery as source.

The project is to be completed within next 24 months including trial run and the maintenance period for the same would be of 5 years. 

As mentioned in the annual report for FY18 of the company, its order book stood at Rs. 3,205.63 crore as on May 15, 2018. Whereas, as on May 15, 2017, company’s order book was Rs. 2,655.91 crore. 

For Q1FY19, the company’s revenue dipped by 38.9 per cent YoY to Rs. 333 crore. Although, there was decline in EBITDA, the margin improved to 11.5 per cent from 7.9 per cent on YoY basis. PAT during the quarter declined by 14.5 per cent YoY to Rs. 16.9 crores. 

On Friday, the stock had closed at Rs. 274.35 per share on BSE. On Monday, it opened at Rs. 277.35 and jumped by 6.2 per cent to make intraday high of Rs. 291.45 and made intraday low of Rs. 274.70.