Indian Hume Pipe Company announced that the Board of Directors of the Company at its meeting held on 29 June 2020, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Net profit of Indian Hume Pipe Company declined 12.38% to Rs 25.34 crore in the quarter ended March 2020 as against Rs 28.92 crore during the previous quarter ended March 2019. Sales declined 23.97% to Rs 396.92 crore in the quarter ended March 2020 as against Rs 522.04 crore during the previous quarter ended March 2019.

For the full year,net profit declined 14.95% to Rs 73.41 crore in the year ended March 2020 as against Rs 86.31 crore during the previous year ended March 2019. Sales declined 1.33% to Rs 1623.62 crore in the year ended March 2020 as against Rs 1645.53 crore during the previous year ended March 2019.

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Indian Hume Pipe Company will hold a meeting of the Board of Directors of the Company on 29 June 2020.

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Indian Hume Pipe Company has received Letter of Acceptance for the work of Rs.357.53 crore (including GST) from Madurai City Municipal Corporation, Madurai, Tamil Nadu for providing dedicated water supply to Madurai City Municipal Corporation. The project is to be completed within 30 months followed by 6 months trial run and commissioning. The Agreement will be signed in due course.

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