Indian Hume Pipe has been hitting new highs consistently from 28th Sept. Even today, it hit a new high at Rs.700.

The market is thrilled that the company is planning to monetize its Pune land, which will bring in a good chunk of money. Its factory land at Vadgaon, Pune is now lying idle as the pipe making there has stopped since 1st Nov, 2015. This is a big tract of land – 14.77 acres.

The board has authorized the CMD and Executive Director of the company to explore the possibility of monetizing the Vadgaon land, Pune and appoint reputed Property Consultant for identifying a Developer.

The company has been on a roll since Q1. In fact it posted 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.