Indian Hume Pipe Company Ltd

Indian Hume Pipe Company Ltd

₹ 446 0.93%
11 Dec 1:34 p.m.
About

The Indian Hume Pipe Co. Ltd. was incorporated in 1926. The Company is in the business of manufacturing, laying and joining of pipelines. The Company has also been undertaking infrastructure development programmes by way of execution on turnkey basis the combined water supply projects. The company also manufactures and supplies Concrete Railway Sleepers to Indian Railways. [1]

Key Points

Products & Services
EPC contracts: Construction, maintenance, laying, and joining of pipelines of various pipe materials, for providing infrastructure facilities of drinking water supply projects, etc

Manufacturing and sale: Bar Wrapped Steel Cylinder pipes (BWSC), Prestressed Concrete Cylinder pipes (PCCP), Manufacturing of Steel pipes, Prestressed Concrete Railway Sleepers, etc. [1]

With an increased focus on EPC contract business, the pipe manufacturing segment contributes less than 10% to the total revenue of the co. [2]

  • Market Cap 2,355 Cr.
  • Current Price 446
  • High / Low 614 / 231
  • Stock P/E 22.8
  • Book Value 164
  • Dividend Yield 0.34 %
  • ROCE 13.2 %
  • ROE 10.1 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 2.79 times its book value
  • The company has delivered a poor sales growth of -3.34% over past five years.
  • Company has a low return on equity of 9.21% over last 3 years.
  • Promoters have pledged 30.7% of their holding.
  • Company has high debtors of 174 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
416 422 392 360 324 405 454 347 319 319 404 364 354
374 383 346 331 297 368 412 318 287 281 330 306 320
Operating Profit 42 39 45 29 27 37 42 29 32 38 74 58 35
OPM % 10% 9% 12% 8% 8% 9% 9% 8% 10% 12% 18% 16% 10%
1 1 2 16 3 2 2 3 1 2 3 1 2
Interest 14 15 16 14 16 18 20 17 16 16 15 14 16
Depreciation 4 4 4 4 4 4 4 3 3 3 4 3 3
Profit before tax 24 21 27 27 9 17 20 11 14 20 58 42 18
Tax % 26% 26% 26% 24% 28% 24% 20% 25% 25% 25% 25% 26% 25%
18 15 20 21 6 13 16 9 10 15 44 31 13
EPS in Rs 3.74 3.14 4.08 4.27 1.31 2.61 3.30 1.62 1.96 2.87 8.29 5.91 2.52
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
696 819 1,010 939 1,792 1,521 1,646 1,624 1,241 1,520 1,543 1,389 1,441
635 747 900 842 1,586 1,370 1,459 1,433 1,116 1,364 1,400 1,206 1,237
Operating Profit 61 72 110 97 206 152 186 190 125 157 143 182 205
OPM % 9% 9% 11% 10% 12% 10% 11% 12% 10% 10% 9% 13% 14%
5 8 13 3 3 3 12 5 27 5 22 9 8
Interest 25 35 48 45 46 43 54 77 76 66 77 74 61
Depreciation 7 8 12 10 11 11 12 18 20 17 16 14 14
Profit before tax 33 38 62 45 153 100 132 100 57 78 72 103 138
Tax % 32% 37% 33% 35% 35% 34% 35% 27% 26% 26% 23% 25%
23 24 42 29 100 66 86 73 42 58 56 78 103
EPS in Rs 4.72 4.97 8.59 6.01 20.57 13.64 17.82 15.15 8.67 11.93 11.50 14.74 19.59
Dividend Payout % 23% 24% 17% 27% 17% 25% 20% 13% 23% 17% 17% 10%
Compounded Sales Growth
10 Years: 5%
5 Years: -3%
3 Years: 4%
TTM: -5%
Compounded Profit Growth
10 Years: 13%
5 Years: -2%
3 Years: 23%
TTM: 117%
Stock Price CAGR
10 Years: 11%
5 Years: 17%
3 Years: 31%
1 Year: 72%
Return on Equity
10 Years: 12%
5 Years: 10%
3 Years: 9%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 5 5 5 5 10 10 10 10 10 10 10 11 11
Reserves 232 249 282 302 390 443 510 559 593 641 686 819 855
176 248 306 318 268 342 474 672 560 587 633 511 607
317 380 415 439 605 746 796 783 732 736 852 741 818
Total Liabilities 730 882 1,007 1,063 1,274 1,541 1,790 2,024 1,894 1,973 2,181 2,081 2,291
80 84 75 73 78 77 90 142 126 127 114 115 114
CWIP 1 1 0 3 1 2 18 1 1 0 0 1 19
Investments 2 2 1 0 3 2 3 2 3 4 4 76 7
648 796 931 987 1,192 1,459 1,679 1,878 1,764 1,842 2,063 1,888 2,151
Total Assets 730 882 1,007 1,063 1,274 1,541 1,790 2,024 1,894 1,973 2,181 2,081 2,291

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4 -34 -4 46 152 -31 -5 -32 185 56 19 213
-10 -9 6 -10 -21 -18 -54 -60 -9 -15 11 -68
1 38 4 -48 -42 -10 71 55 -171 -93 -62 -37
Net Cash Flow -5 -5 6 -12 89 -59 12 -36 4 -51 -31 108

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 102 102 121 130 82 114 133 141 163 169 176 174
Inventory Days 389 847 1,094 1,682 190 118 237 195 607
Days Payable 194 438 676 992 1,004 1,079 1,660 1,361 2,012
Cash Conversion Cycle 297 510 539 821 -733 -847 -1,290 -1,026 163 169 176 -1,231
Working Capital Days 159 175 175 204 96 157 168 206 247 224 249 268
ROCE % 14% 15% 18% 15% 31% 20% 21% 16% 11% 12% 12% 13%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
69.92% 69.92% 69.92% 69.93% 69.93% 69.93% 72.34% 72.34% 72.34% 72.34% 72.34% 72.34%
0.29% 0.30% 0.28% 0.34% 0.19% 0.04% 0.03% 0.90% 0.68% 0.45% 0.92% 0.83%
2.05% 2.05% 2.05% 2.00% 1.74% 1.48% 0.91% 2.21% 2.21% 2.21% 2.21% 2.20%
27.74% 27.73% 27.75% 27.72% 28.15% 28.54% 26.70% 24.54% 24.76% 24.99% 24.52% 24.60%
No. of Shareholders 25,15425,00225,29025,10525,43725,17325,36923,37424,22426,00127,37029,021

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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