Small Cap Industrial Products Stock Soars 15.15% On Bagging Mega Project, Gains 86% In 1-Yr

Small cap company operating in Industrial Products industry, Indian Hume Pipe Co. Ltd shares gained 10.86% intraday after it received mega project worth Rs 495 crore from Tapi Irrigation Development Corporation Jalgaon.

Last trading price of Indian Hume Pipe shares on BSE is Rs 260.30 apiece. Indian Hume Pipe shares witnessed an attractive rally of 83.70% in last 1-year. The company has a market capitalisation of Rs 1,371.31 crore. Check details below:

Indian Hume Pipe Bags New Order: As per the BSE filing of the company dated February 14, 2024, "this is to inform that the Company has received Letter of Intent of the value of Rs.495.04 Crores (excluding Royalty, Insurance, GST, Land acquisition and crop compensation) from Tapi Irrigation Development Corporation Jalgaon (Jalgaon Irrigation Project Circle), Maharashtra for Engineering, Procurement and Construction (EPC) of Civil, Mechanical and Electrical works for Pressurised Piped Distribution Network of Varkhede Londhe Irrigation Project including Operation and Maintenance of entire system for five years. The project is to be completed within period of 24 months."

Indian Hume Pipe Q3 Results: The Indian Hume Pipe Company Ltd (IHP) reported a total income of 2320.23 Crores, for the 3rd quarter of the financial year 2023-24 as against 2406.41 Crores, in the corresponding quarter of the previous year. The Company has reported an EBIDTA of Rs 39.30 Crores and a Net Profit of Rs 15.14 Crores as against Rs 38.27 Crores and Rs 12.65 Crores reported respectively in the corresponding quarter of the previous year.

The Company reported a total income of Rs 989.96 Crores for the 9 months period of the current financial year as against Rs 1108.84 Crores in the corresponding period of the previous year. The Company has reported an EBIDTA of Rs 104.22 Crores and the Net Profit of Rs 33.96 Crores as against an EBIDTA of Rs 112.49 Crores and a Net Profit of Rs 39.69 Crores in the corresponding period of the previous year.
The estimated balance value of the work as at 31st January, 2024 is Rs 3309.62 Crores as against Rs 3477.23 Crores as at 31st January, 2023.

Indian Hume Pipe Shares Performance & Return: The 52-week high price of Indian Hume Pipe shares on BSE is Rs 303.45 apiece and 52-week low price is Rs 115.55 apiece, respectively. Indian Hume Pipe shares gained over 11% in last 3-months, jumped 84% in last 1-year, and offered return of 27% in last 2-years.

About: The Indian Hume Pipe Co. Ltd. (IHP) came into existence in 1926 with the goal of manufacturing, popularizing and marketing Hume Pipes and allied products. Over a period of time the company has developed Prestressed Concrete Pipes (Non-Cylinder), Prestressed Concrete Cylinder Pipes, Bar Wrapped Steel Cylinder Pipes, Hume Steel Pipes, Welded Steel Penstocks, Prestressed Concrete Railway Sleepers and specialized in execution of Turnkey Water Supply and Sewerage Projects, according to its official website.

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