Company secures Rs 4,95,00,00,000 irrigation order in Maharashtra: Do you own it?
The stock has delivered impressive returns, surging by over 110 per cent in the past year.
Indian Hume Pipe Co. Ltd., established in 1926, specializes in manufacturing, laying, and joining pipelines. They also execute infrastructure projects on a turnkey basis, particularly in water supply. Additionally, the company supplies Concrete Railway Sleepers to Indian Railways. Their EPC contracts cover construction, maintenance, and laying of pipelines using various materials. Despite these diverse operations, pipe manufacturing contributes less than 10 per cent to their total revenue.
The company disclosed its order details on February 15, 2024.
The company has received a significant order from the Tapi Irrigation Development Corporation Jalgaon (Jalgaon Irrigation Project Circle), Maharashtra. The order is for the engineering, procurement, and construction (EPC) of civil, mechanical, and electrical works for a pressurized piped distribution network for the Varkhede Londhe Irrigation Project. The project also includes the operation and maintenance of the entire system for five years.
Project Details
- The project will cover an area of 8,290 hectares in Chalisgaon, Jalgaon district.
- The contract value is Rs. 495.04 crore (excluding royalty, insurance, GST, land acquisition, and crop compensation).
- The project will be completed within 24 months.
What This Means for IHPL
This order is a major boost for IHPL, and it is expected to have a positive impact on the company's financial performance. The project will also help IHPL to expand its presence in the irrigation sector in Maharashtra.
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IHPL's Strengths
IHPL has a long history of experience in the construction of irrigation projects. The company has a strong track record of completing projects on time and within budget. IHPL also has a wide network of manufacturing facilities and a team of experienced engineers and construction professionals.
The Future of Irrigation in India
The Indian government is investing heavily in irrigation infrastructure in order to improve agricultural productivity. This is expected to create significant opportunities for companies like IHPL.
The stock has delivered impressive returns, surging by over 110 per cent in the past year.
Disclaimer: The article is for informational purposes only and not investment advice.