H.G. Infra Engineering Ltd. (IN:HGINFRA)
:HGINFRA
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H.G. Infra Engineering Ltd.
(HGINFRA)
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Rating:60Neutral
Price Target:
₹541.00
▼(-27.33% Downside)
Action:ReiteratedDate:01/24/26
Moderate score driven primarily by strong growth/profitability but meaningfully offset by weak cash flow and leverage risk. Technicals are very bearish (downtrend despite oversold readings), while the low P/E provides some valuation support.
Positive Factors
Public‑sector contract focus
H.G. Infra’s core business is executing EPC road and highway projects for government and government‑linked clients. This client mix offers durable demand, structural project pipelines and lower commercial counterparty risk versus pure private exposure, underpinning recurring contract opportunities.
Negative Factors
High financial leverage
Material leverage increases interest and refinancing sensitivity and narrows financial flexibility. In an industry with lumpy receivables and payment timing risk, high debt levels can strain liquidity, limit ability to absorb project delays, and elevate default risk during extended slowdowns.
Read all positive and negative factors
Positive Factors
Negative Factors
Public‑sector contract focus
H.G. Infra’s core business is executing EPC road and highway projects for government and government‑linked clients. This client mix offers durable demand, structural project pipelines and lower commercial counterparty risk versus pure private exposure, underpinning recurring contract opportunities.
Read all positive factors
H.G. Infra Engineering Ltd. (HGINFRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹33.61B
Dividend Yield0.25%
Average Volume (3M)9.64K
Price to Earnings (P/E)13.1
Beta (1Y)1.83
Revenue Growth-8.92%
EPS Growth-22.83%
CountryIN
Employees4,848
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)14.90
Shares Outstanding65,171,110
10 Day Avg. Volume7,417
30 Day Avg. Volume9,642
Financial Highlights & Ratios
PEG Ratio-2.29
Price to Book (P/B)2.42
Price to Sales (P/S)1.41
P/FCF Ratio-2.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)79.31
Revenue Forecast (FY)₹68.19B
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 execut...
How the Company Makes Money
HGINFRA makes money primarily by winning infrastructure construction contracts and recognizing revenue as it executes those projects. Its key revenue stream is contract revenue from EPC and similar construction arrangements (for example, building ...
H.G. Infra Engineering Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
65
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.12B | 50.56B | 53.78B | 44.66B | 36.63B | 25.68B |
| Gross Profit | 14.51B | 14.68B | 15.24B | 7.38B | 7.92B | 5.85B |
| EBITDA | 10.10B | 10.64B | 10.58B | 9.12B | 7.16B | 4.89B |
| Net Income | 4.13B | 5.05B | 5.39B | 4.93B | 3.80B | 2.37B |
Balance Sheet | ||||||
| Total Assets | 103.94B | 87.73B | 54.34B | 49.27B | 32.92B | 26.84B |
| Cash, Cash Equivalents and Short-Term Investments | 9.52B | 1.97B | 2.04B | 2.67B | 566.37M | 1.46B |
| Total Debt | 56.69B | 41.70B | 15.13B | 19.10B | 11.84B | 7.68B |
| Total Liabilities | 72.91B | 58.23B | 29.79B | 30.05B | 18.56B | 16.21B |
| Stockholders Equity | 30.87B | 29.50B | 24.55B | 19.22B | 14.36B | 10.63B |
Cash Flow | ||||||
| Free Cash Flow | -12.44B | -24.36B | -5.44B | -4.78B | -3.89B | -271.70M |
| Operating Cash Flow | -5.35B | -8.78B | -3.11B | -1.39B | -3.22B | 705.52M |
| Investing Cash Flow | -7.51B | -14.61B | 169.55M | -3.78B | -656.42M | -1.03B |
| Financing Cash Flow | 12.60B | 23.10B | 3.19B | 5.62B | 2.93B | 1.52B |
H.G. Infra Engineering Ltd. Technical Analysis
Neutral
744.45
Price Trends
561.79
Negative
676.35
Negative
835.86
Negative
Market Momentum
-21.44
Negative
51.29
Neutral
88.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HGINFRA, the sentiment is Neutral. The current price of 744.45 is above the 20-day moving average (MA) of 485.60, above the 50-day MA of 561.79, and below the 200-day MA of 835.86, indicating a neutral trend. The MACD of -21.44 indicates Negative momentum. The RSI at 51.29 is Neutral, neither overbought nor oversold. The STOCH value of 88.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:HGINFRA.
H.G. Infra Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹33.38B | 11.13 | ― | 0.16% | -42.73% | -44.36% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ₹38.05B | 27.56 | ― | 1.03% | -21.85% | -1.63% | |
62 Neutral | ₹51.72B | 30.38 | ― | 0.06% | 5.56% | -22.59% | |
60 Neutral | ₹33.61B | 13.05 | ― | 0.25% | -8.92% | -22.83% | |
60 Neutral | ₹69.16B | 2.45 | ― | 0.21% | -13.57% | 40.24% | |
53 Neutral | ₹47.15B | 21.04 | ― | 0.23% | -30.54% | -35.13% |
* Industrials Sector Average
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H.G. Infra Engineering Ltd. Corporate Events
H.G. Infra to Strike Off Eight Dormant Solar Project Subsidiaries
Mar 30, 2026
H.G. Infra Engineering Limited has decided to voluntarily dissolve eight step-down wholly owned subsidiaries incorporated in 2024 for proposed solar projects in locations such as Nagaur, Behror, Bhilwara, Bhiwadi, Ghiloth, Kota, Tapukara and Tijar...
H.G. Infra Closes Trading Window Ahead of FY26 Results
Mar 23, 2026
H.G. Infra Engineering Ltd. has announced that its trading window for dealing in company securities will be closed for all designated persons and their immediate relatives from April 1, 2026. The window will reopen 48 hours after the announcement ...
H.G. Infra Sells Khammam Devarapalle Road Project SPV for ₹213.85 Crore
Mar 20, 2026
H.G. Infra Engineering Ltd. has completed the sale of its wholly owned subsidiary, H.G. Khammam Devarapalle PKG-2 Private Limited, transferring 100% of its 14,10,500 equity shares to Neo Infra Income Opportunities Fund on March 20, 2026. The subsi...
H.G. Infra Engineering Wins Rs 401 Crore Railway Infra Order for Anuppur Thermal Plant
Mar 10, 2026
H.G. Infra Engineering Limited has secured a domestic civil works contract from Anuppur Thermal Energy (MP) Private Limited in Madhya Pradesh. The project involves earthwork, bridges, station buildings, and track-related (P-way) construction for r...
H.G. Infra wins Rs 1,582 crore NHAI ring road project in Odisha
Feb 27, 2026
H.G. Infra Engineering Ltd. has secured a Letter of Award from the National Highways Authority of India for constructing a new six-lane access-controlled Capital Region Ring Road section in Odisha under the Hybrid Annuity Mode. The 40.33 km projec...
H.G. Infra Officials Secure Bail in Ongoing CBI Case
Feb 27, 2026
H.G. Infra Engineering Ltd. has announced that a special CBI court in Patna has granted bail to four company officials previously in judicial custody and has also granted anticipatory bail to Chairman and Managing Director Harendra Singh in connec...
H.G. Infra Chairman Secures Interim Court Protection in CBI Case, Company Says Operations Unaffected
Jan 28, 2026
H.G. Infra Engineering has disclosed that its Chairman and Managing Director, Harendra Singh, has received interim protection from the Court of Special Judge, CBI-1, Patna, which has directed that no coercive action be taken against him in connect...
H.G. Infra Gets Appointed Date for Rs 763 Crore NH 227B Project in Uttar Pradesh
Jan 16, 2026
H.G. Infra Engineering Limited announced that its wholly owned subsidiary, H.G. Bahuvan Jagarnathpur Highway Private Limited, has received the appointed date from the National Highways Circle, PWD Lucknow, for a key road upgradation project in Utt...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.