H.G. Infra Engineering Limited
₹378.55-₹8.75 (-2.3%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹4,553 Cr
- P/E
- 9.2x
- EV / EBITDA
- 4.7x
- Revenue
- ₹6,052 Cr
- Net margin
- 10.6%
- ROCE
- 29.7%
Price chart
Technical chartScreen technicals →-59.0% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -12.6%
- 3M
- -28.9%
- 6M
- -36.4%
- 1Y
- -59.0%
- 5Y
- -51.8%
52-week range
Day change -₹8.75 (-2.3%) from ₹387 to ₹379 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in HGINFRA, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 18.5%
Concerns1
- Negative free cash flow (₹576 Cr)
Rule-based from financial data. Not advice.
About the company
H.G. Infra Engineering Limited, together with its subsidiaries, engages in the engineering, procurement, and construction (EPC) business in India. The company provides EPC services on a turnkey basis and hybrid annuity model for civil construction and related infrastructure projects. It also develops and maintains roads, highways, bridges, flyovers, railway networks and other infrastructure contract works, as well as railways, metro, solar power plant, and water sector projects. H.G. Infra Engineering Limited was incorporated in 2003 and is based in Jaipur, India.
- Sector
- Industrials
- Shares outstanding
- 6.5 Cr shares
- ISIN
- INE926X01010
- BSE code
- 541019
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹4,553 Cr
- P/E
- 9.2x
- P/B
- 1.5x
- EV / EBITDA
- 4.7x
- EV / Sales
- 0.9x
- P/S
- 0.9x
- Earnings yield
- 10.9%
- 52-week high
- ₹937.15
- 52-week low
- ₹377.55
Profitability
- Operating margin
- 16.1%
- Net margin
- 10.6%
- EBITDA margin
- 18.4%
- ROE
- 23.5%
- ROCE
- 29.7%
- ROA
- 13.3%
- Dividend payout
- 2.0%
- Tax rate
- 24.0%
- Other income, % of PBT
- 16.4%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹6,052 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹942 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 29.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.9%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 26.8%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹271 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -53.8%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹82.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.9%
Solvency and efficiency
- Current ratio
- 2.54
- Debt / Equity
- 0.20
- Debt / Assets
- 0.11
- Debt / EBITDA
- 0.49
- Interest coverage
- 10.17
- Financial leverage
- 1.77
- CFO / Net profit
- 0.50
- Cash / Market cap
- 59.9%
- Cash per share
- ₹418.66
- Asset turnover
- 1.25
- Fixed asset turnover
- 6.90
- Capital intensity
- 0.14
- Debtor days
- 65 days
- Inventory turnover
- 7.60
- Cash conversion cycle
- -22 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹10 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹5,101 Cr |
| Sales | Operating profit | ₹951 Cr |
| Operating profit | Interest | ₹116 Cr |
| Operating profit | Depreciation | ₹144 Cr |
| Operating profit | Profit before tax | ₹691 Cr |
| Other income | Profit before tax | ₹72 Cr |
| Profit before tax | Tax and other | ₹186 Cr |
| Profit before tax | Net profit | ₹577 Cr |
Revenue and net profit
Revenue grew 18.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹2,535 Cr | ₹211 Cr |
| FY2022 | ₹3,615 Cr | ₹339 Cr |
| FY2023 | ₹4,419 Cr | ₹421 Cr |
| FY2024 | ₹5,122 Cr | ₹545 Cr |
| FY2025 | ₹6,052 Cr | ₹577 Cr |
Cash flows
FY2025: ₹120 Cr from operations, -₹576 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹527 Cr | ₹257 Cr |
| FY2022 | ₹114 Cr | -₹59 Cr |
| FY2023 | ₹587 Cr | -₹96 Cr |
| FY2024 | ₹271 Cr | ₹184 Cr |
| FY2025 | ₹120 Cr | -₹576 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹6,052 Cr+18.2%1Y
- Net profit
- ₹577 Cr+5.9%1Y
- Cash from operations
- ₹120 Cr
- Free cash flow
- -₹576 Cr-413.0%1Y
- Revenue CAGR, 5Y
- 18.5%
- EBITDA CAGR, 5Y
- 21.5%
- Net profit CAGR, 5Y
- 26.8%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹6,052 Cr | ₹951 Cr | — | ₹577 Cr | ₹120 Cr | -₹576 Cr | 20.0% | +18.2% | +5.9% |
Monthly returns
Month-by-month returns of HGINFRA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹5,826 Cr |
| Equity capital | ₹65 Cr |
| Reserves | ₹2,820 Cr |
| Borrowings | ₹1,076 Cr |
| Other liabilities | ₹1,865 Cr |
| Assets | ₹5,826 Cr |
| Fixed assets | ₹687 Cr |
| Capital work in progress | ₹3 Cr |
| Investments | ₹1,369 Cr |
| Other assets | ₹3,767 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
HGINFRA trades at 9.2x earnings against a peer median of 38.3x (a 76% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| H.G. Infra Engineering LimitedHGINFRAthis companyP/E ↓ discount | ₹4,553 Cr | 9.2x | 1.5x | 23.5% | 4.7x |
| GMM Pfaudler Ltd.GMMPFAUDLR | ₹4,612 Cr | 72.2x | 5.6x | 6.8% | 34.1x |
| Nirlon LimitedNIRLON | ₹4,506 Cr | 14.2x | 9.7x | 55.2% | 11.7x |
| Skipper LimitedSKIPPER | ₹4,489 Cr | 26.5x | 3.6x | 8.4% | 14.0x |
| AGI GREENPAC LIMITEDAGI | ₹4,449 Cr | 12.6x | 2.0x | 13.8% | 8.2x |
| KRN HEAT EXCHANGER AND REFRIGERATION LIMITEDKRN | ₹4,423 Cr | 67.2x | 8.3x | 30.5% | 69.4x |
| Kennametal India LimtiedKENNAMET | ₹4,410 Cr | 40.4x | 5.9x | — | — |
| Swaraj Engines Ltd.SWARAJENG | ₹4,379 Cr | 24.7x | 11.2x | 37.5% | 21.3x |
| SG MART LIMITEDSGMART | ₹4,314 Cr | 44.9x | 2.9x | 5.6% | 44.8x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
HGINFRA since 1 January, against earlier years.
Historical volatility
HGINFRA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 17.0% |
| FY2022 | 16.0% |
| FY2023 | 16.0% |
| FY2024 | 16.0% |
| FY2025 | 16.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹6,052 Cr |
| Costs | |
| Interest | ₹116 Cr |
| Expenses | ₹5,101 Cr |
| Operating profitOperating Profit | ₹951 Cr |
| Other income and charges | |
| Profit before tax | ₹763 Cr |
| Tax | |
| Net profitNet Profit | ₹577 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹5,826 Cr |
| Equity capitalEquity Capital | ₹65 Cr |
| Reserves | ₹2,820 Cr |
| Borrowings | ₹1,076 Cr |
| Other liabilitiesOther Liabilities | ₹1,865 Cr |
| AssetsTotal Assets | ₹5,826 Cr |
| Fixed assetsFixed Assets | ₹687 Cr |
| Capital work in progressCWIP | ₹3 Cr |
| Investments | ₹1,369 Cr |
| Other assetsOther Assets | ₹3,767 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹120 Cr |
| Investing cash flowCash from Investing Activity | -₹696 Cr |
| Financing cash flowCash from Financing Activity | ₹494 Cr |
| Change in cashNet Cash Flow | -₹82 Cr |
Learn while you research
Academy chapters picked for H.G. Infra Engineering Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Value InvestingA P/E of 9.2 could be a value opportunity, or a value trap. Know the difference.7 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read