Indian Hume Pipe Company Ltd.

•

indianhumepipe.comBSE: 504741NSE: INDIANHUME

Market Cap₹ 2,067 Cr.

Current Price

High / Low₹ 432 / 280

Stock P/E14.5

Book Value₹ 286

Price to Book1.00

Dividend Yield1.27 %

ROCE13.0 %

ROE9.9 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Construction Contracts Including Water Supply Schemes, Pipes Supply & Laying Projects: 100.0%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has delivered good profit growth of 27.4% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 24.3%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.5%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.91x)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 74.4% versus prior year
Company has delivered a poor sales growth of 1.0% over past five years
Recurring exceptional / one-off items are inflating headline profit
Inventory has been piling up - inventory days up from 43 to 64

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3965.00	32.88	545530.90	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	209.50	48.56	43681.17	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1417.50	21.30	24207.01	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.67	24.90	23757.43	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1296.30	37.02	22268.82	0.23	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	281.90	20.21	15843.97	1.77	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	975.45	26.32	11344.44	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.65	21.31	11159.22	1.60	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	AFCONS	295.00	74.98	10849.65	0.68	303.00	120.52	26710.00	692.49	12.88	9.42
10.	KEC	406.15	19.53	10811.71	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	WELENT	765.35	34.66	10593.50	0.39	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	INDIANHUME	392.40	14.48	2067.23	1.27	23.57	7.53	302.81	-1.50	13.03	9.83

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	347	319	319	404	364	354	381	392	307	365	282	351	303
	318	287	281	330	306	320	343	336	274	313	260	313	288
Operating Profit	29	32	38	74	58	35	37	56	34	52	22	38	15
OPM %	8.40%	9.99%	11.81%	18.32%	15.96%	9.82%	9.80%	14.28%	10.97%	14.13%	7.85%	10.91%	4.82%
	3	1	2	3	1	2	2	548	12	12	75	11	17
Interest	17	16	16	15	14	16	16	16	12	12	12	12	11
Depreciation	3	3	3	4	3	3	4	4	5	5	5	5	5
Profit before Tax	11	14	20	58	42	18	20	584	29	46	80	32	32
Tax %	25.31%	25.29%	25.23%	24.78%	26.31%	24.74%	26.50%	14.49%	24.59%	24.60%	23.22%	29.23%	25.30%
Net Profit	9	10	15	44	31	13	14	499	22	35	62	23	24
	1.74	1.96	2.87	8.29	5.91	2.52	2.73	94.77	4.16	6.59	11.67	4.37	4.47

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,806	1,547	1,646	1,624	1,241	1,520	1,543	1,389	1,491	1,306	1,301
	1,600	1,395	1,459	1,433	1,117	1,364	1,400	1,207	1,296	1,154	1,174
Operating Profit	206	152	186	190	125	157	143	182	195	151	127
OPM %	11.42%	9.80%	11.31%	11.72%	10.06%	10.32%	9.28%	13.11%	13.09%	11.58%	9.73%
	3	3	12	5	28	5	22	9	554	111	114
Interest	46	43	54	77	76	66	77	74	71	55	46
Depreciation	11	11	12	18	20	17	16	14	15	20	20
Profit before Tax	153	100	132	100	57	78	72	103	663	188	190
Tax %	34.85%	34.19%	34.74%	26.85%	26.28%	25.89%	23.04%	24.99%	15.87%	24.81%	24.92%
Net Profit	100	66	86	73	42	58	56	78	558	141	143
EPS	0.00	0.00	0.00	0.00	8.67	11.93	11.50	14.74	105.93	26.79	—
Dividend Payout %	16.53%	24.93%	20.21%	13.20%	23.07%	16.77%	8.70%	10.18%	5.48%	18.67%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 1%
3 Years:: -5%

COMPOUNDED PROFIT GROWTH

10 Years:: 17%
5 Years:: 27%
3 Years:: 36%

STOCK PRICE CAGR

10 Years:: 2%
5 Years:: 13%
3 Years:: 12%
1 Year:: -3%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 18%
3 Years:: 24%
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	10	10	11	11	11
	390	443	510	559	593	641	686	819	1,366	1,474
	293	385	526	732	607	631	678	557	510	491
Trade Payables	318	433	496	529	490	518	559	473	529	462
	363	370	381	302	275	273	284	282	486	408
Total Liabilities	1,373	1,641	1,923	2,132	1,974	2,073	2,216	2,142	2,901	2,845
	78	77	90	142	126	121	108	110	147	142
Capital Work in Progress	1	2	18	1	1	0	0	1	1	1
	3	2	3	2	3	4	4	76	180	401
	60	47	71	76	78	79	75	143	210	250
	0	0	0	0	0	0	0	661	649	485
Cash & Bank	42	19	39	32	28	40	47	42	443	469
	1,190	1,494	1,702	1,879	1,738	1,829	1,981	1,108	1,270	1,098
Total Assets	1,373	1,641	1,923	2,132	1,974	2,073	2,216	2,142	2,901	2,845

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	198	10	40	1	203	84	32	213	204	294
Cash from Investing	-21	-18	-54	-60	-9	-15	11	-68	-67	-151
Cash from Financing	-42	-10	71	55	-171	-93	-62	-37	-108	-106
	89	-59	12	-36	4	-51	-31	108	29	37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	20.57	13.64	17.82	15.15	8.67	11.93	11.50	14.74	105.93	26.79
Book Value (₹)	82.59	93.52	107.25	117.38	124.38	134.21	143.52	157.41	261.32	281.76
Dividend per Share (₹)	3.40	3.40	3.60	2.00	2.00	2.00	1.00	1.50	5.80	5.00
Cash EPS (₹)	22.75	15.87	20.24	18.96	12.78	15.53	14.71	17.37	108.72	30.54
PROFITABILITY
Operating Margin %	11.45%	9.93%	12.01%	12.03%	12.29%	10.63%	10.69%	13.11%	13.09%	11.58%
Net Margin %	5.46%	4.26%	5.25%	4.52%	3.38%	3.80%	3.61%	5.59%	37.42%	10.81%
ROE %	28.21%	15.49%	17.75%	13.49%	7.17%	9.23%	8.28%	10.18%	50.60%	9.86%
ROCE %	30.74%	19.58%	20.78%	15.89%	11.10%	12.06%	11.67%	13.34%	46.57%	13.03%
	7.98%	4.38%	4.84%	3.62%	2.05%	2.86%	2.60%	3.56%	22.13%	4.91%
EFFICIENCY
Debtor Days	74	103	119	138	174	151	171	184	160	158
Inventory Days	50	13	13	16	23	19	18	29	43	64
Payable Days	161	224	236	271	345	285	312	635	415	499
	-38	-108	-104	-117	-149	-115	-122	-422	-212	-276
FINANCIAL HEALTH
Debt to Equity (x)	0.67x	0.75x	0.91x	1.17x	0.92x	0.90x	0.91x	0.60x	0.33x	0.28x
Interest Coverage (x)	4.35x	3.34x	3.47x	2.31x	1.75x	2.18x	1.94x	2.41x	10.29x	4.43x
	1.30x	1.31x	1.26x	1.25x	1.33x	1.33x	1.34x	1.54x	1.92x	2.03x
GROWTH
Revenue Growth %	95.18%	-14.36%	6.39%	-1.33%	-23.54%	22.47%	1.48%	-10.00%	7.39%	-12.45%
Operating Profit Growth %	109.41%	-26.35%	28.21%	-1.10%	-21.91%	5.88%	2.07%	15.83%	6.88%	-3.06%
Net Profit Growth %	242.53%	-33.72%	30.65%	-14.95%	-42.78%	37.59%	-3.61%	39.36%	618.88%	-74.71%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	28.16%	618.88%	-74.71%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.29x	3.44x	10.52x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.62x	1.40x	1.00x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.59%	1.59%	1.77%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	9.42x	9.44x	7.21x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.34	72.34	72.34	72.34	72.34	72.34	72.34	72.34	72.34
	0.92	0.83	0.66	0.56	0.52	0.42	0.46	0.39	0.39
	2.21	2.20	2.20	2.20	2.20	2.20	2.20	2.20	0.75
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.53	24.60	24.80	24.90	24.94	25.04	25.00	25.07	26.52

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-15

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-15 - Indian Hume Pipe Company Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Indian Hume Pipe Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Press Release

2026-08-12 - Indian Hume Pipe Company Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Press Release under Regulation 30 of SEBI (LODR) Regulations, 2015 as per attached letter".

2026-08-12

Outcome of Board Meeting

2026-08-12 - Indian Hume Pipe Company Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-03

Shareholders meeting

2026-08-03 - Disclosure of Voting Results of 100th Annual General Meeting ("AGM") held on Monday,3rd August, 2026 pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

2026-08-03

Shareholders meeting

2026-08-03 - Proceedings of the 100th Annual General Meeting held on Monday, 3rd August, 2026.

2026-07-09

Copy of Newspaper Publication

2026-07-09 - Indian Hume Pipe Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-06

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-06 - Indian Hume Pipe Company Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-03

Awarding of order(s)/contract(s)

2026-07-03 - Indian Hume Pipe Company Limited has informed the Exchange about Awarding of order(s)/contract(s)

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