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H.G. Infra Engineering Limited

H.G. Infra Engineering Limited

HGINFRA.NS
H.G. Infra Engineering LimitedIN flagNational Stock Exchange of India
562.50
INR
+6.60
- -
36.66BMarket Cap
H.G. Infra Engineering Limited
HGINFRA.NS
(National Stock Exchange of India)

Recent

price

562.50

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
60,643
49,184
28,189

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
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Business
H.G. Infra Engineering Limited undertakes engineering, procurement, and construction (EPC) services on a turnkey basis and hybrid annuity model (HAM) projects for civil construction-linked infrastructure; offers roads and highways development, bridges, railways infrastructure, metro projects, solar power plants, battery energy storage systems (BESS), and transmission and distribution (T&D) works; provides project management and consultancy in civil engineering, including urban infrastructure such as townships, ports, airports, and water supply systems. The company operates across more than 15 states in India, including Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra, Andhra Pradesh, Telangana, Odisha, Karnataka, Madhya Pradesh, Himachal Pradesh, and Jharkhand, targeting central and state government authorities such as MoRTH, NHAI, Indian Railways, DMRC, NTPC, GUVNL, Military Engineering Services, PWD, and private sector partners like IRB, Adani, and Tata Projects. Founded in 2003 and headquartered in Jaipur, Rajasthan, the company maintains an integrated delivery model supported by an in-house fleet of over 3,000 modern equipment pieces and a skilled workforce focused on quality, safety, and timely execution. Recent developments include the execution of battery energy storage purchase agreements by subsidiaries H.G. Choraniya BESS Private Limited and H.G. Banaskantha BESS Private Limited in November 2025; securing a Rs 670 crore BESS project, contributing to an order book of Rs 13,932 crore as of September 2025; investments totaling Rs 8.80 crore in three solar power subsidiaries via rights issues in September 2025; acquisition of Angul Sundargarh Transmission Limited in July 2025; incorporation of multiple wholly owned subsidiaries as special purpose vehicles for new projects in railways, highways, metro, solar, and BESS throughout 2025; receipt of letters of award and intent from entities including NTPC Vidyut Vyapar Nigam Limited, Gujarat Urja Vikas Nigam Limited, Military Engineer Services, PFC Consulting Limited, and Rail Land Development Authority; and achievement of financial closes and appointed dates for several HAM highway projects.