H.G. Infra Engineering Ltd. (HGINFRA) AI Stock Analysis

• Market Cap: ₹61.33B
• Dividend Yield: 0.21%
• Average Volume (3M): 8.97K
• Price to Earnings (P/E): 13.9
• Beta (1Y): 1.74
• Revenue Growth: -9.81%
• EPS Growth: -19.80%
• Country: IN
• Employees: 4,848
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 19.30
• Shares Outstanding: 65,171,110
• 10 Day Avg. Volume: 11,900
• 30 Day Avg. Volume: 8,973
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,000.00
• Price Target Upside: 6.26% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 66 Neutral
• Price Target: ₹1,114.00 ▲(18.38% Upside)

H.G. Infra Engineering Ltd. scores a 66, driven primarily by strong financial performance with robust revenue growth and profitability. However, challenges in cash flow management and high leverage pose risks. Technical analysis suggests a mixed outlook with potential for upward movement, while valuation indicates the stock is fairly priced but offers limited dividend income.

H.G. Infra Engineering Ltd. Business Overview & Revenue Model

Company Description

H.G. Infra Engineering Limited engages in the road construction, and engineering, procurement, and construction business in India. It constructs and maintains highways, bridges, flyovers, and other infrastructure contract works. The company executes civil construction projects comprising extension and grading of runways, railways, and land development. In addition, it undertakes water pipeline projects. The company was incorporated in 2003 and is based in Jaipur, India.

How the Company Makes Money

H.G. Infra Engineering Ltd. generates revenue through its EPC contracts, primarily in the road and highway construction sector. The company's key revenue streams include government contracts for the development of national and state highways, funded by both central and state governments. Additionally, H.G. Infra undertakes projects from private sector clients, including industrial and commercial infrastructure development. The company benefits from strategic partnerships and joint ventures, which enhance its capacity to bid for large-scale projects and expand its project portfolio. Revenue is typically recognized based on the percentage of completion method, reflecting the progress made on various construction contracts over time.

H.G. Infra Engineering Ltd. Financial Statement Overview

Summary

Strong revenue growth and profitability are offset by challenges in cash flow management and high leverage. The company is investing heavily in its future, but negative cash flows and high debt levels suggest a need for careful financial management.

Income Statement

H.G. Infra Engineering Ltd. shows strong revenue growth over the past years, with a notable increase from 2020 to 2024. The company maintains healthy gross and net profit margins, indicating efficient cost management and profitability. However, slight margin compression in recent years suggests increasing competitive pressures or cost challenges.

Balance Sheet

The balance sheet reflects substantial growth in total assets and stockholders' equity, suggesting strong reinvestment in the business. However, the debt-to-equity ratio is relatively high, indicating significant leverage which could pose a risk if not managed carefully. The equity ratio has remained stable, showing a balanced capital structure.

Cash Flow

The company exhibits negative free cash flow in recent years due to high capital expenditures, which may be indicative of investment in growth. Operating cash flow has been consistently negative, raising concerns about cash conversion efficiency. The free cash flow to net income ratio is negative, highlighting potential liquidity challenges.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	50.56B	50.56B	44.19B	53.78B	25.68B	36.63B
Gross Profit	13.54B	14.68B	9.71B	15.24B	5.85B	7.92B
EBITDA	10.69B	10.64B	9.12B	10.58B	4.89B	7.16B
Net Income	5.05B	5.05B	4.93B	5.39B	2.37B	3.80B
Balance Sheet
Total Assets	87.73B	87.73B	49.27B	54.34B	26.84B	32.92B
Cash, Cash Equivalents and Short-Term Investments	1.97B	1.97B	6.80B	2.04B	1.46B	566.37M
Total Debt	41.70B	41.70B	19.10B	15.13B	7.68B	11.84B
Total Liabilities	58.23B	58.23B	30.05B	29.79B	16.21B	18.56B
Stockholders Equity	29.50B	29.50B	19.22B	24.55B	10.63B	14.36B
Cash Flow
Free Cash Flow	0.00	-24.36B	-4.78B	-5.44B	-271.70M	-3.89B
Operating Cash Flow	0.00	-8.78B	-1.39B	-3.11B	705.52M	-3.22B
Investing Cash Flow	0.00	-14.61B	-3.78B	28.14M	-1.03B	-656.42M
Financing Cash Flow	0.00	23.10B	5.62B	3.19B	1.52B	2.93B

H.G. Infra Engineering Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 941.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HGINFRA, the sentiment is Negative. The current price of 941.05 is below the 20-day moving average (MA) of 992.73, below the 50-day MA of 1009.53, and below the 200-day MA of 1133.31, indicating a bearish trend. The MACD of -8.77 indicates Positive momentum. The RSI at 33.63 is Neutral, neither overbought nor oversold. The STOCH value of 3.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HGINFRA.

H.G. Infra Engineering Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNRCON	75 Outperform	₹55.70B	5.85	22.06%	0.13%	-2.17%	17.20%
AHLUCONT	72 Outperform	₹65.09B	29.22	11.24%	0.06%	4.32%	-37.38%
MANINFRA	70 Outperform	₹60.17B	21.36	16.03%	0.61%	-13.33%	-12.34%
HGINFRA	66 Neutral	₹61.33B	13.88	―	0.21%	-9.81%	-19.80%
DBL	61 Neutral	₹82.74B	10.24	12.65%	0.20%	-11.92%	141.80%
PNCINFRA	57 Neutral	₹76.23B	11.35	13.62%	0.20%	-30.96%	-48.49%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

H.G. Infra Engineering Ltd. Corporate Events

H.G. Infra Engineering Secures Financial Closure for Major Highway Project

H.G. Infra Engineering Ltd. announced the financial closure of a significant project through its subsidiary, H.G. Narol Sarkhej Highway Private Limited. The project involves the upgradation of a 10.63 km stretch of NH 47 in Gujarat, with a project cost of INR 781.11 crore, to be completed over 30 months. This development marks a strategic advancement for the company in the infrastructure domain, potentially enhancing its market position and stakeholder value.

H.G. Infra Transfers Stake in Solar Subsidiaries to Stockwell Solar

H.G. Infra Engineering Ltd. has announced the transfer of a 26% stake in three of its wholly-owned solar project subsidiaries to Stockwell Solar Services Pvt. Ltd. This move means these entities will no longer be wholly-owned subsidiaries but will remain as subsidiaries. This strategic stake transfer is part of H.G. Infra’s efforts to optimize its solar energy investments and collaborate with Stockwell Solar, a company specializing in renewable energy solutions, which could enhance operational efficiency and market positioning in the renewable sector.

H.G. Infra Engineering Ltd. Conducts 23rd AGM, Declares Dividend

H.G. Infra Engineering Ltd. held its 23rd Annual General Meeting on August 19, 2025, via video conferencing, in compliance with regulatory guidelines. The meeting included discussions on the company’s financial statements and the declaration of a final dividend of Rs. 2 per equity share. The AGM proceedings were conducted smoothly, with no adverse remarks from auditors, indicating stable financial and operational health, which is likely to reassure stakeholders about the company’s ongoing commitments and performance.

H.G. Infra Engineering Ltd. Holds 23rd AGM, Declares Dividend

H.G. Infra Engineering Ltd. conducted its 23rd Annual General Meeting (AGM) on August 19, 2025, via video conferencing, adhering to guidelines from the Ministry of Corporate Affairs and SEBI. The AGM covered the adoption of financial statements and the declaration of a final dividend, with all resolutions passed smoothly, indicating stable governance and shareholder engagement.