H.G. Infra Engineering Limited

H.G. Infra Engineering Limited

HGINFRA.BO
H.G. Infra Engineering LimitedIN flagBombay Stock Exchange
555.75
INR
+4.85
- -
36.15BMarket Cap
H.G. Infra Engineering Limited
HGINFRA.BO
(Bombay Stock Exchange)

Recent

price

555.75

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
72.28
56.02
113.68
161.61
254.33
309.11
339.65
395.15
558.84
685.34
786.33
775.73
801.91
801.28
Revenue per Share
2.63
1.42
4.63
8.2
15.39
19.54
25.57
36.31
58.31
75.68
82.64
77.55
50.61
50.57
Basic EPS, GAAP
5.42
1.96
-5.09
-7.78
-48.62
-9.71
-10.35
-4.17
-59.75
-73.37
-83.49
-374.09
-107.9
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.6
0.6
- -
0.8
1
1.25
1.5
2
- -
Dividend per Share
12.24
12.96
2.77
26.99
49.56
60.38
85.44
121.7
178.99
51.34
51.34
51.34
9.98
9.98
Book Value per Share
12.24
12.95
18.83
26.99
98.68
101.21
126.29
162.65
220.06
294.66
376.45
452.16
502.27
501.88
Tangible Book Value per Share
65
65
65
65
55
65
65
65
65
65
65
65
65
65
Basic Weighted Avg Shares
4,710
3,651
7,409
10,532
13,927
20,145
22,136
25,753
36,420
44,664
51,246
50,562
52,347
52,347
Sales/Revenue/Turnover
8
7.6
9.65
17.13
11.07
11.37
12.5
14.19
17.19
14.87
14.98
18.19
16.34
16.34
Operating Margin (%)
134
171
183
256
539
755
756
844
851
964
1,412
1,444
1,675
1,675
Depreciation Expense
172
92
302
534
843
1,273
1,666
2,367
3,800
4,932
5,386
5,055
3,304
3,304
Net Income, GAAP
33.43
31.76
34.67
35.93
29.05
35.01
27.51
24.15
26.15
25.79
27.21
25.76
27.46
27.46
Effective Tax Rate (%)
3.65
2.53
4.07
5.07
6.05
6.32
7.53
9.19
10.43
11.04
10.51
10
6.31
6.31
Profit Margin (%)
-205
-9
108
361
2,486
2,825
4,931
5,526
8,196
10,588
12,963
14,062
7,292
7,292
Working Capital
44
155
284
635
1,247
593
2,136
5,571
9,663
14,836
10,971
32,134
30,315
30,315
LT Debt
798
844
1,228
1,761
5,409
6,630
8,263
10,626
14,360
19,219
24,550
29,498
32,814
32,814
Total Equity
- -
12.07
24.96
41.1
16.85
14.84
16.81
17.6
20.79
15.23
14.3
12.31
8.04
8.04
Return on Invested Capital (%)
- -
7.11
25.27
29
20.75
20.58
21.27
21.6
22.18
25.35
32.64
22.1
13.95
13.95
Return on Capital (%)
- -
11.23
58.92
55.1
37.68
38.3
35.06
35.06
38.79
65.71
160.96
151.06
165.27
165.27
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
14,794
- -
19,977
LT Borrowings
41,079
- -
29,496
LT Finance Leases
818
- -
819
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
65
- -
65
Market Capitalization
60,624
49,226
28,186

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
41,926
- -
51,591
Cash, Cash Equivalents & STI
9,518
- -
6,246
Accounts Receivable, Net
4,442
- -
7,882
Inventories
4,200
- -
3,751
Total Current Liabilities
28,906
- -
44,299
Payables & Accruals
- -
- -
- -
ST Debt
14,794
- -
19,977
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
45.45%
25.62%
11.24%
Free Cash Flow
199.41%
329.12%
-71.11%
Net Income, GAAP
31.75%
11.75%
-34.64%
Sales/Revenue/Turnover
22.62%
16.2%
3.53%
Total Cash Common Dividend
- -
27.21%
33.33%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13,512
9,545
13,645
14,544
51,246
2025
15,280
9,024
12,648
13,609
50,562
2026
14,822
9,045
14,212
14,268
52,347

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23.08
14.75
15.66
- -
82.64
2025
24.94
12.38
17.66
22.56
77.55
2026
15.23
7.95
14.44
12.99
50.61

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.25
2025
- -
- -
- -
- -
1.5
2026
- -
- -
- -
- -
2
Business
H.G. Infra Engineering Limited is an Indian infrastructure company specializing in engineering, procurement, and construction (EPC) services with a focus on roads, highways, bridges, railways, metro, solar power, battery energy storage systems (BESS), and transmission and distribution projects. Founded in 2003 and headquartered in Jodhpur, Rajasthan, the company operates across more than 15 states in India, delivering large-scale infrastructure projects including Hybrid Annuity Model (HAM) road projects, urban metro networks, and railway modernization. Its portfolio includes over 10 completed HAM projects and 26 ongoing projects supported by a fleet of over 3,000 modern equipment, emphasizing quality, safety, and efficiency. Recent developments include the formation of a wholly owned subsidiary, H.G. Clean Energy Solutions Pvt Ltd, reflecting a strategic push into renewable energy and green infrastructure. In 2024, the company signed a Memorandum of Understanding with Ultra Vibrant Solar Energy Private Limited to acquire shares in solar power project companies, expanding its renewable energy footprint. In 2025, H.G. Infra acquired 100% equity in Angul Sundargarh Transmission Limited to strengthen its transmission business and executed a securities purchase agreement to divest its fully owned subsidiary H.G. Raipur Visakhapatnam OD-6 Private Limited, part of its portfolio rationalization and restructuring efforts. The company is also a qualified bidder for large standalone BESS projects in Gujarat under tariff-based competitive bidding, marking a notable expansion into energy storage solutions. H.G. Infra collaborates with major government entities such as the Ministry of Road Transport and Highways (MoRTH), National Highways Authority of India (NHAI), Delhi Metro Rail Corporation (DMRC), Indian Railways, and Gujarat Urja Vikas Nigam Limited (GUVNL), as well as leading private infrastructure and engineering firms. Its business segments primarily cover road construction, urban transportation infrastructure including metros, railway projects, water pipeline projects, and renewable energy infrastructure to support India’s sustainable growth agenda. The company holds a Class AA contractor certification, allowing it to undertake large government and private sector projects with a robust balance between EPC and HAM contracts. H.G. Infra Engineering Limited remains focused on integrating digital construction technologies, mechanized execution methods, and sustainability practices to enhance operational efficiency and environmental responsibility while expanding its presence in emerging infrastructure sectors, including green energy and digital infrastructure solutions. The company’s recent strategic moves and diversified project portfolio underscore its commitment to long-term growth and leadership in India’s infrastructure development industry.