Indian Hume Pipe is a part of Seth WalchandHirachand group, been in existence since 1926-27. And in the past 82 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 creditable achievement by any yardstick.  its financial performance for Q3 and Q4 in Fy12 was not all that great with decline in operating expenses and extraordinary income helping the bottomline. Its net sales for the current Q1, on a YoY rose 24% at Rs.151 crore and then there was an other income of Rs.3.43 crore and it ended with a net profit at Rs.6.70 crore, up 37% on YoY but QoQ, it was down 11%.

With projects not taking off, clearly delay in implementation is hurting the company. Equity is small at Rs.4.84 crore, 69.92% is held by the promoters. Reserves as at end of FY12 stood at Rs.205 crore. The ‘big’ news in the company currently is getting the go-ahead for its Dosti Realty,  which will be developing its land at Wadala, Mumbai, which is fully encroached by slum dwellers, under Slum Rehabilitation Scheme, admeasuring about 8,558 sq. mtrs. (92,119 sq. ft. approx) in Phase I and 5,512 sq. mtrs. (59,331 sq.ft. approx) in Phase II subject to the necessary approvals.Dosti Realty will build SRA rehabilitation buildings and free sale buildings at their costs and risk on the company's above land at Wadala. The company in turn will be entitled to get 2/3 BHK flats of salable area of 23,730 sq.ft. along with one car park space for each 2/3 BHK flats for Phase I development and salable area of 15,282 sq.ft. along with one car park space for each 2/3 BHK flats for Phase II development on ownership basis as a consideration for the above land on completion of the project. The development of Phase I is expected to be completed within 36 to 42 months on receipt of the full Commencement Certificate, after which Phase II development will be undertaken.