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 Q3FY13 sequentially was not great but YoY, it was stupendous, thanks to the low base effect. The company posted a net profit at Rs.4.42 crore, up 281% YoY but down 36% QoQ.  The profit would have been much lower but for the 5% reduction in total operating costs. Its interest outgo every quarter, in FY13 has been around Rs.6.5 -7 crore. Its currently has orders to the tune of Rs.1321 crore, up from Rs.1308 croreQoQ but much below Rs.1442 crore on YoY.

Equity of the company is small at Rs.4.84 crore, 69.92% is held by the promoters. Reserves as at end of H1FY13 stood at Rs.229 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.