Indian Hume hits 20% UC and new high

Indian Hume Pipe has posted a superlative set of numbers for Q1FY17, having had an extraordinary quarter. Net sales for the quarter was at Rs.447 crore, up 111% and net profit came in at Rs.26 crore, up over 4 times. More importantly, this is almost close to entire FY16 net profit of Rs.29 crore, meaning with three more quarters to go, we are looking at a trailblazing fiscal here.

EBITDA for the quarter was at Rs.52 crore, up 126% and margins have jumped up from 10.85% to 11.61%, which means costs have been more or less in tandem with growth in turnover.

The company’s equity is tiny at Rs.4.84 crore and reserve is at a healthy Rs.302 crore, making it an ideal bonus candidate too – if the same trend continues through this quarter.

The stock today opened itself 20% higher at Rs.544.10, a new 52-week high and frozen at this upper circuit.