The Indian Hume Pipe Company Ltd reports earnings for Q1FY21

The Indian Hume Pipe Company Ltd (IHP) reported a total income of Rs. 219.28 Crores, for the 1st quarter of the financial year 2020-21 as against Rs. 464.05 Crores, in the corresponding quarter of the previous year.

The Company has reported an EBIDTA of Rs. 16.81 Crores as against Rs. 52.15 Crores reported in the corresponding quarter of the previous year.

The Company's net loss for the current quarter of Rs. 5.54 Crores as against net profit Rs. 20.94 Crores reported in the corresponding quarter of the previous year.

The nationwide lockdown imposed to control COVID-19 pandemic resulted in disruption in supply chain and availability of manpower, leading to stoppage of factories and project execution, in major part of this quarter. Though gross margins were stable, net profit impaired due to non-absorption of fixed cost on 52.7% lower volume of turnover.

Order Book

The estimated balance value of the work as at 18th August, 2020 is Rs. 4,445.00 Crores as against Rs. 4,354.83 Crores as at 9th August, 2019.

The Company is L1 in one project having value of Rs. 134.82 Crores as at 18th August, 2020.

Shares of INDIAN HUME PIPE CO.LTD. was last trading in BSE at Rs.203 as compared to the previous close of Rs. 210. The total number of shares traded during the day was 11913 in over 749 trades.

The stock hit an intraday high of Rs. 211.95 and intraday low of 202. The net turnover during the day was Rs. 2455723.

Source : Equity Bulls

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