Price Target Changed • Jun 02
Price target decreased by 8.0% to ₹904 Down from ₹983, the current price target is an average from 13 analysts. New target price is 57% above last closing price of ₹575. Stock is down 47% over the past year. The company is forecast to post earnings per share of ₹75.89 for next year compared to ₹50.61 last year. Declared Dividend • May 30
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 12th August 2026 Payment date: 18th September 2026 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (3% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 81% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 29
H.G. Infra Engineering Limited, Annual General Meeting, Aug 19, 2026 H.G. Infra Engineering Limited, Annual General Meeting, Aug 19, 2026. Reported Earnings • May 29
Full year 2026 earnings released: EPS: ₹50.61 (vs ₹77.56 in FY 2025) Full year 2026 results: EPS: ₹50.61 (down from ₹77.56 in FY 2025). Revenue: ₹52.6b (up 4.1% from FY 2025). Net income: ₹3.30b (down 35% from FY 2025). Profit margin: 6.3% (down from 10.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 15% per year. Announcement • May 18
H.G. Infra Engineering Limited to Report Q4, 2026 Results on May 22, 2026 H.G. Infra Engineering Limited announced that they will report Q4, 2026 results on May 22, 2026 Price Target Changed • May 18
Price target decreased by 8.4% to ₹993 Down from ₹1,085, the current price target is an average from 13 analysts. New target price is 64% above last closing price of ₹604. Stock is down 51% over the past year. The company is forecast to post earnings per share of ₹66.39 for next year compared to ₹77.56 last year. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹630, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Construction industry in India. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹394 per share. Buy Or Sell Opportunity • Mar 24
Now 21% overvalued Over the last 90 days, the stock has fallen 40% to ₹474. The fair value is estimated to be ₹392, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has declined by 4.6%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Price Target Changed • Feb 16
Price target decreased by 7.3% to ₹1,243 Down from ₹1,340, the current price target is an average from 15 analysts. New target price is 93% above last closing price of ₹645. Stock is down 42% over the past year. The company is forecast to post earnings per share of ₹77.46 for next year compared to ₹77.56 last year. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹14.44 (vs ₹17.66 in 3Q 2025) Third quarter 2026 results: EPS: ₹14.44 (down from ₹17.66 in 3Q 2025). Revenue: ₹14.2b (up 13% from 3Q 2025). Net income: ₹942.8m (down 18% from 3Q 2025). Profit margin: 6.6% (down from 9.1% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Announcement • Feb 07
H.G. Infra Engineering Limited to Report Q3, 2026 Results on Feb 12, 2026 H.G. Infra Engineering Limited announced that they will report Q3, 2026 results on Feb 12, 2026 Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹587, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Construction industry in India. Total loss to shareholders of 6.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹613 per share. New Risk • Jan 20
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (48% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Jan 06
H.G. Infra Engineering Limited Announces Resignation of Abhishek Goenka as Head of Strategy, Effective January 5, 2026 H.G. Infra Engineering Limited has announced that Mr. Abhishek Goenka, Head of Strategy categorized as Senior Management Personnel, has tendered his resignation due to personal reasons. The resignation is effective from the close of business hours on January 5, 2026. Price Target Changed • Nov 25
Price target decreased by 7.6% to ₹1,355 Down from ₹1,466, the current price target is an average from 14 analysts. New target price is 55% above last closing price of ₹872. Stock is down 34% over the past year. The company is forecast to post earnings per share of ₹79.08 for next year compared to ₹77.56 last year. Buy Or Sell Opportunity • Nov 24
Now 22% overvalued Over the last 90 days, the stock has fallen 10% to ₹878. The fair value is estimated to be ₹720, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 58% in 2 years. Earnings are forecast to grow by 60% in the next 2 years. Announcement • Nov 07
H.G. Infra Engineering Limited to Report Q2, 2026 Results on Nov 12, 2025 H.G. Infra Engineering Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Announcement • Aug 21
H.G. Infra Engineering Limited Approves the the Appointment of Devendra Bhushan Gupta as A Whole-Time Director, Effective from June 01, 2025 H.G. Infra Engineering Limited at its AGM held on August 19, 2025, approved the the appointment of Mr. Devendra Bhushan Gupta as a Whole-Time Director of the Company for a period of 3 (three) consecutive years, Effective from June 01, 2025. Mr. Gupta is a former Indian Administrative Officer with 37 years of diverse experience. After superannuation, he has also served as Advisor to the Chief Minister and later as the Chief Information Commissioner of Rajasthan for three years. He holds a bachelor's degree (Honours in Economics) and has also done MBA and MA in Economics. During service, he was posted as the Finance Secretary, Commissioner of Delhi Development Authority, Commissioner of Jaipur Development Authority, Principal Secretary, Planning, Agriculture and Urban Development Departments. He was also posted as Principal Secretary, Public Works Department (PWD) in June, 2014 with an ambitious project of constructing 20,000 kilometers of State Highways and other Major roads on Public Private Partnership (PPP) basis. Later after promotion, he also served as Additional Chief Secretary, PWD and Infrastructure and as the Chairman of the State Highway Authority of Rajasthan. Thereafter, he was appointed as Additional Chief Secretary, Finance and finally as the Chief Secretary of Rajasthan in the year 2018 and remained there till July 2020. Currently, Mr. Gupta is serving as Independent Director on the Board of Danish Power Limited and Wonder Home Finance Limited. Price Target Changed • Aug 20
Price target decreased by 7.7% to ₹1,533 Down from ₹1,661, the current price target is an average from 15 analysts. New target price is 53% above last closing price of ₹1,000. Stock is down 38% over the past year. The company is forecast to post earnings per share of ₹87.27 for next year compared to ₹77.56 last year. Announcement • Aug 09
H.G. Infra Engineering Limited to Report Q1, 2026 Results on Aug 13, 2025 H.G. Infra Engineering Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Buy Or Sell Opportunity • Aug 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.9% to ₹1,027. The fair value is estimated to be ₹1,290, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Jul 30
Full year 2025 earnings released: EPS: ₹77.56 (vs ₹82.64 in FY 2024) Full year 2025 results: EPS: ₹77.56 (down from ₹82.64 in FY 2024). Revenue: ₹50.6b (down 6.0% from FY 2024). Net income: ₹5.05b (down 6.1% from FY 2024). Profit margin: 10.0% (in line with FY 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 11
Now 22% undervalued Over the last 90 days, the stock has risen 3.5% to ₹1,089. The fair value is estimated to be ₹1,391, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Declared Dividend • May 23
Dividend increased to ₹2.00 Dividend of ₹2.00 is 33% higher than last year. Ex-date: 12th August 2025 Payment date: 18th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (2% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹77.55 (vs ₹82.64 in FY 2024) Full year 2025 results: EPS: ₹77.55 (down from ₹82.64 in FY 2024). Revenue: ₹50.7b (down 5.7% from FY 2024). Net income: ₹5.05b (down 6.1% from FY 2024). Profit margin: 10.0% (in line with FY 2024). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
H.G. Infra Engineering Limited to Report Q4, 2025 Results on May 21, 2025 H.G. Infra Engineering Limited announced that they will report Q4, 2025 results on May 21, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: ₹17.66 (vs ₹15.66 in 3Q 2024) Third quarter 2025 results: EPS: ₹17.66 (up from ₹15.66 in 3Q 2024). Revenue: ₹12.6b (down 7.3% from 3Q 2024). Net income: ₹1.15b (up 13% from 3Q 2024). Profit margin: 9.1% (up from 7.5% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 31
H.G. Infra Engineering Limited Announces the Resignation of Rajeev Khanna as President - Finance & Accounts H.G. Infra Engineering Limited announced that Mr. Rajeev Khanna, President - Finance & Accounts has tendered his resignation due to personal reasons as well as considering family issues effective from the close of business hours from January 31, 2025. Buy Or Sell Opportunity • Jan 31
Now 23% overvalued Over the last 90 days, the stock has fallen 8.0% to ₹1,282. The fair value is estimated to be ₹1,041, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Announcement • Jan 30
H.G. Infra Engineering Limited to Report Q3, 2025 Results on Feb 05, 2025 H.G. Infra Engineering Limited announced that they will report Q3, 2025 results on Feb 05, 2025 Announcement • Jan 16
H.G. Infra Engineering Limited Announces Resignation of Ashok Kumar Menon as Chief Human Resource Officer H.G. Infra Engineering Limited informed that Mr. Ashok Kumar Menon, Group - Chief Human Resource Officer (President - HR & Admin) categorized as Senior Management Personnel, has tendered his resignation due to personal reasons as well as considering family issues effective from the close of business hours from January 16, 2025. Announcement • Dec 19
H.G. Infra Engineering Limited Appoints Dr. Yash Pal Soni as Chief Information Officer, Effective from January 20, 2025 H.G. Infra Engineering Limited informed that Dr. Yash Pal Soni has been appointed as Chief Information Officer categorized as Senior Management Personnel (SMP) of the Company, effective from January 20, 2025. Term of Appointment - Full Time Employment. Dr. Yash Pal Soni is Master of Engineering from BITS, Pilani in Systems, and Information and PhD in Computer Science with 30 years of distinguished experience as CIO with blue chip corporate in India and Abroad. He was associated earlier with Intex Technologies India Limited, New Delhi as Chief Digital Officer and driving Business Implementation for Mining Conglomerate. Responsible for alignment of IT Strategy with Business Strategy, Information Technology & Systems, IT Shared Services, Information Security, ERP Implementation,Business Process Re-engineering, and IT Risk Management. He also associated with Khaitan Group of Industries, Kolkata, Jaipur as Chief Information officer, Dalmia Cement (Bharat) Limited, Chennai as Chief Information Officer, Everest Industries, New-Delhi as Chief Information Officer and Change Agent, Secure Meters Limited as Program Manager-ERP and Change Manager, Secure Meters Limited as Program Manager- IT and Benefit Delivery, Gurgaon/Winchester, U.K, Baton Rouge International, Cupertino, San Jose, California, USA as Senior Consultant, IT, ERP & Network Operations, Indo Bazzar on Net LLC, New Jersey, USA as Senior Consultant and National Industrial Development Corporation, New Delhi as Assistant Manager. Buy Or Sell Opportunity • Nov 25
Now 25% overvalued Over the last 90 days, the stock has fallen 13% to ₹1,337. The fair value is estimated to be ₹1,068, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Announcement • Nov 22
H.G. Infra Engineering Limited Announces Resignation of Mayank Sharma as President - Renewables (Senior Management Personnel) H.G. Infra Engineering Limited announced that the Mr. Mayank Sharma, President - Renewables (Senior Management Personnel), has tendered his resignation due to personal health issues effective from the close of business hours from November 22, 2024. Announcement • Nov 16
H.G. Infra Engineering Limited Announces Resignation of Raja Dutta as President - Operations H.G. Infra Engineering Limited announced that Mr. Raja Dutta, President - Operations (Senior Management Personnel), has tendered his resignation due to personal health reasons effective from the close of business hours from November 13, 2024. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹12.38 (vs ₹14.75 in 2Q 2024) Second quarter 2025 results: EPS: ₹12.38 (down from ₹14.75 in 2Q 2024). Revenue: ₹9.06b (down 5.1% from 2Q 2024). Net income: ₹807.4m (down 16% from 2Q 2024). Profit margin: 8.9% (down from 10% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Announcement • Nov 09
H.G. Infra Engineering Limited Appoints Ravi Prakash as "Director Operations" Head Transportation H.G. Infra Engineering Limited announced that Mr. Ravi Prakash has been appointed as "Director Operations" Head Transportation (categorized as Senior Management Personnel (SMP) of the Company), effective from November 09, 2024. Term of Appointment: Full Time Employment. Mr. Ravi Prakash is a Civil Engineer (B.E.) from Bangalore University having Experience of 35 years mainly in Infrastructure area in Domestic & Overseas. Having exposure in construction of Highway, Railway, Metro, Tunnels, Buildings, Water Treatment & distribution, Electrical distribution & Power Plants. He was previously associated with organizations like L&T, Ramky Infrastructure, JMC Projects (Kalpataru Group) & Afcons Infrastructure (Shapoorji Pallonji). Announcement • Nov 04
H.G. Infra Engineering Limited to Report Q2, 2025 Results on Nov 11, 2024 H.G. Infra Engineering Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Announcement • Aug 22
H.G. Infra Engineering Limited Approves Final Dividend for the Financial Year Ended March 31, 2024 H.G. Infra Engineering Limited at its AGM held on August 21, 2024 approved final dividend of INR 1.50 per share for the financial year ended March 31, 2024. Price Target Changed • Aug 08
Price target increased by 11% to ₹1,578 Up from ₹1,420, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of ₹1,624. Stock is up 75% over the past year. The company is forecast to post earnings per share of ₹82.88 for next year compared to ₹82.64 last year. Upcoming Dividend • Aug 07
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 19 September 2024. Payout ratio is a comfortable 1.8% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.6%). Reported Earnings • Aug 01
Full year 2024 earnings released: EPS: ₹82.64 (vs ₹75.68 in FY 2023) Full year 2024 results: EPS: ₹82.64 (up from ₹75.68 in FY 2023). Revenue: ₹53.8b (up 16% from FY 2023). Net income: ₹5.39b (up 9.2% from FY 2023). Profit margin: 10.0% (in line with FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
H.G. Infra Engineering Limited to Report Q1, 2025 Results on Aug 05, 2024 H.G. Infra Engineering Limited announced that they will report Q1, 2025 results on Aug 05, 2024 Announcement • Jul 04
H.G. Infra Engineering Limited Appoints Chandra Pal Mehta as President-Technical, Effective July 08, 2024 H.G. Infra Engineering Limited informed that Mr. Chandra Pal Mehta has been appointed as President-Technical (categorized as Senior Management Personnel (SMP) of the Company), effective from July 08, 2024. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₹1,819, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Construction industry in India. Total returns to shareholders of 363% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹749 per share. Price Target Changed • May 22
Price target increased by 9.4% to ₹1,260 Up from ₹1,152, the current price target is an average from 13 analysts. New target price is 13% below last closing price of ₹1,455. Stock is up 59% over the past year. The company is forecast to post earnings per share of ₹80.34 for next year compared to ₹82.64 last year. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹1,375, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Construction industry in India. Total returns to shareholders of 284% over the past three years. Declared Dividend • May 10
Dividend increased to ₹1.50 Dividend of ₹1.50 is 20% higher than last year. Ex-date: 14th August 2024 Payment date: 20th September 2024 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Announcement • May 10
H.G. Infra Engineering Limited, Annual General Meeting, Aug 21, 2024 H.G. Infra Engineering Limited, Annual General Meeting, Aug 21, 2024. Reported Earnings • May 09
Full year 2024 earnings released: EPS: ₹82.64 (vs ₹75.68 in FY 2023) Full year 2024 results: EPS: ₹82.64 (up from ₹75.68 in FY 2023). Revenue: ₹54.0b (up 17% from FY 2023). Net income: ₹5.39b (up 9.2% from FY 2023). Profit margin: 10.0% (in line with FY 2023). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
H.G. Infra Engineering Limited Recommends Final Dividend for the Financial Year Ended March 31, 2024 H.G. Infra Engineering Limited at its board meeting held on May 08, 2024, recommended a final dividend of INR 1.50 per equity share (15%) of the face value of INR 10 each for the financial year ended March 31, 2024, subject to the approval of the shareholders at the upcoming 22nd Annual General Meeting of the Company, which if approved, shall be paid within thirty days from the conclusion of the AGM. Announcement • Apr 17
H.G. Infra Engineering Limited Appoints Mayank Sharma as President-Renewables, Effective from April 18, 2024 H.G. Infra Engineering Limited announced that Mr. Mayank Sharma has been appointed as President-Renewables (categorized as Senior Management Personnel (SMP) of the Company), effective from April 18, 2024. Term of Appointment - Full-Time Employment. Mr. Mayank Sharma holds a master degree in Commerce from M.D.S. University Ajmer, Rajasthan. Mr. Sharma has expertise in the development of Solar Park and Project on private land as well as Govt Land, allotment and development of the land bank. Mr. Sharma worked with Rays Power Infra Ltd. as president in Jaipur, Auro Mira Energy Co Private Limited as a Regional Head, Jaipur and Chennai, Transtech Green Power Ltd. as Project Head, Jaipur. Buy Or Sell Opportunity • Apr 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to ₹1,060. The fair value is estimated to be ₹882, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Announcement • Mar 28
H.G. Infra Engineering Limited Announces Resignation of Brajesh Kumar Sohrot as President - Techno Commercial H.G. Infra Engineering Limited announced that Mr. Brajesh Kumar Sohrot, President - Techno Commercial (Senior Management Personnel), has tendered his resignation to pursue a new endeavour outside the Company effective from the close of business hours on March 30, 2024. Announcement • Mar 13
H.G. Infra Engineering Limited Announces the Resignation of Arvind Khandelwal as President - Strategy, Effective March 18, 2024 H.G. Infra Engineering Limited announced that Mr. Arvind Khandelwal, President - Strategy (Senior Management Personnel), has tendered his resignation due to personal reasons effective from the close of business hours on March 18, 2024. Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: ₹15.66 (vs ₹20.09 in 3Q 2023) Third quarter 2024 results: EPS: ₹15.66 (down from ₹20.09 in 3Q 2023). Revenue: ₹13.7b (up 16% from 3Q 2023). Net income: ₹1.02b (down 22% from 3Q 2023). Profit margin: 7.5% (down from 11% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 26
H.G. Infra Engineering Limited to Report Q3, 2024 Results on Feb 02, 2024 H.G. Infra Engineering Limited announced that they will report Q3, 2024 results on Feb 02, 2024 Announcement • Jan 10
H.G. Infra Engineering Limited Announces Appointment of Neeraj Kumar Bansal as President-Railways & Metro, Effective from February 28, 2024 H.G. Infra Engineering Limited announced appointment of Mr. Neeraj Kumar Bansal as President Railways & Metro (Categorized as Senior Management Personnel). Effective from February 28, 2024. Term of Appointment - Full-Time Employment. Brief profile: Mr. Neeraj Kumar Bansal holds a degree in B. Tech. from I.I.T. Kanpur. Mr. Bansal is an Ex IES - officer having more than 28 years of experience in SBU management and developing large-scale complex infrastructure projects in the Roads, Railways, Buildings, Transmission and Distribution sectors. Mr. Bansal worked with K2 Infragen Limited as Director & CEO, GR Infraprojects Limited as Sr. Vice President & Head (Railways), EMCO Limited as Chief Executive Officer (PPP Projects), Era Infra Engineering Limited as Chief General Manager & BU Head, Central Public Works Department (CPWD) as Executive Engineer (EE) & Asst. Executive Engineer (AEE) in Ministry of UD & PA, Govt. of India, and Central Electricity Authority (CEA) as Assistant Director, Grade-1, in Ministry of Power, Govt. of India. Announcement • Dec 06
H.G. Infra Engineering Limited Announces Appointment of Rajeev Khanna as President - Finance & Accounts, Effective from March 01, 2024 H.G. Infra Engineering Limited announced appointment of Mr. Rajeev Khanna as President - Finance & Accounts. Effective from March 01, 2024. Brief profile:Mr. Khanna holds a degree in B.Com. He is a qualified Chartered accountant and Company Secretary and has also done a diploma in Business Finance. He has an experience of over 31 years in Accounting and control, Business Planning and Budgeting, Financial Analysis and Reporting, Corporate Compliance, Risk Planning, Treasury Management, Tax Planning, Investor Relations and Working Capital Management etc. Before joining H.G. Infra Engineering Limited, Mr. Khanna was working with Satchmo Holdings Ltd. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹14.75 (vs ₹12.57 in 2Q 2023) Second quarter 2024 results: EPS: ₹14.75 (up from ₹12.57 in 2Q 2023). Revenue: ₹9.58b (up 20% from 2Q 2023). Net income: ₹961.2m (up 17% from 2Q 2023). Profit margin: 10.0% (in line with 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
H.G. Infra Engineering Limited to Report Q2, 2024 Results on Nov 06, 2023 H.G. Infra Engineering Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Announcement • Oct 08
H.G. Infra Engineering Limited Announces Change in Management H.G. Infra Engineering Limited announced that meeting of the Board of Directors held on October 07, 2023, approved the changes in senior management personnel (SMP). The company Designated Mr. Raja Dutta as SMP. Designated with effect from October 07. 2023, Term of appointment: Existing full-time employment with effect from August 29,2023 as President (Operations). Mr. Dutta, a senior Construction Management Professional, holds degree in MBA from IIIM-Ahmedabad and BE Civil from Jadavpur University, Kolkata. He has more than 26 years professional experiences in the field of` project operations, strategic planning etc. Prior to joining H.G. .Infra Engineering Limited, Mr. Dutta, was working with Larsen & Toubro Limited. The company also Designated Mr. Ashok Kumar Menon as SMP. Designated with effect from October 07. 2023. Term of Appointment: Existing full-time employment with effect from September 29, 2023 as President (Chief Human Resource Officer). Mr. Menon holds degree in B. Com from Calicut University and is PGDBM from Punjab Technical University. He has more than 33 years professional experiences in the field of HR, IR, Administration, CSR, Training & People Development and Corporate Communication etc. in different industries (Chemicals, Steel, Insulators, Green Energy, Water Management, Infrastructure-Highways, Buildings, Irrigation, Minong etc. Prior to joining Mr. Menon was working with Sadbhav Engineering Limited. Announcement • Sep 15
H.G. Infra Engineering Limited Announces Resignation of Ashutosh Mathur, Senior Vice President -Technical H.G. Infra Engineering Limited announced that Mr. Ashutosh Mathur, Senior Vice President -Technical, senior management personnel of the Company has tendered his resignation with effect from closure of business hours on September 14, 2023 due to personal reasons. Upcoming Dividend • Aug 07
Upcoming dividend of ₹1.25 per share at 0.1% yield Eligible shareholders must have bought the stock before 14 August 2023. Payment date: 19 September 2023. Payout ratio is a comfortable 1.7% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.9%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: ₹23.08 (vs ₹16.79 in 1Q 2023) First quarter 2024 results: EPS: ₹23.08 (up from ₹16.79 in 1Q 2023). Revenue: ₹13.6b (up 23% from 1Q 2023). Net income: ₹1.50b (up 37% from 1Q 2023). Profit margin: 11% (up from 9.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 26
H.G. Infra Engineering Limited to Report Q1, 2024 Results on Jul 31, 2023 H.G. Infra Engineering Limited announced that they will report Q1, 2024 results on Jul 31, 2023 Price Target Changed • May 15
Price target increased by 11% to ₹1,066 Up from ₹962, the current price target is an average from 12 analysts. New target price is 13% above last closing price of ₹943. Stock is up 78% over the past year. The company is forecast to post earnings per share of ₹72.30 for next year compared to ₹75.68 last year. Reported Earnings • May 11
Full year 2023 earnings released: EPS: ₹75.68 (vs ₹58.31 in FY 2022) Full year 2023 results: EPS: ₹75.68 (up from ₹58.31 in FY 2022). Revenue: ₹46.4b (up 24% from FY 2022). Net income: ₹4.93b (up 30% from FY 2022). Profit margin: 11% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 16
Price target increased by 9.1% to ₹963 Up from ₹883, the current price target is an average from 11 analysts. New target price is 26% above last closing price of ₹764. Stock is up 26% over the past year. The company posted earnings per share of ₹58.31 last year. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹761, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 211% over the past three years. Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: ₹20.09 (vs ₹15.43 in 3Q 2022) Third quarter 2023 results: EPS: ₹20.09 (up from ₹15.43 in 3Q 2022). Revenue: ₹11.9b (up 25% from 3Q 2022). Net income: ₹1.31b (up 30% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 40% per year. Announcement • Feb 02
H.G. Infra Engineering Limited to Report Q3, 2023 Results on Feb 08, 2023 H.G. Infra Engineering Limited announced that they will report Q3, 2023 results on Feb 08, 2023 Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹647, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 150% over the past three years. Announcement • Nov 10
H.G. Infra Engineering Limited Appoints Rajeev Mishra as Chief Risk Officer The board of directors of H.G. Infra Engineering Limited meeting held on November 9, 2022, approved that Mr. Rajeev Mishra, Chief Financial Officer will also act as Chief Risk Officer of the Company with effect from November 09, 2022. Mr. Rajeev Mishra is MBA (Marketing and Finance) from Faculty of Management Studies, IIRM, Jaipur and holds B.com degree from University of Rajasthan. Mr. Mishra is associated with H.G. Infra Engineering Limited since July, 2015 and designated as "Chief Financial Officer' of the Company since May, 2017. He has over 12 years of experience in Banking/Finance sector with in-depth knowledge of Banking sector related to corporate banking. He has also been awarded "CFO of the year" in year 2021 in engineering sector organized by Asian leadership. During the span of his 22 years of experience, Mr. Mishra has worked with various prestigious corporates at senior level positions and has exhaustive banking experience of more than 12 years with Yes Bank Limited, Kotak Mahindra Bank, ICICI Bank, Indusind Bank and HDFC Bank. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: ₹12.57 (vs ₹11.43 in 2Q 2022) Second quarter 2023 results: EPS: ₹12.57 (up from ₹11.43 in 2Q 2022). Revenue: ₹8.00b (up 1.7% from 2Q 2022). Net income: ₹819.3m (up 10.0% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
H.G. Infra Engineering Limited to Report Q2, 2023 Results on Nov 09, 2022 H.G. Infra Engineering Limited announced that they will report Q2, 2023 results at 12:08 PM, Indian Standard Time on Nov 09, 2022 Announcement • Aug 05
H.G. Infra Engineering Limited Approves Dividend for the Financial Year 2021-22 H.G. Infra Engineering Limited at the AGM on August 03, 2022 approved to declare a Final dividend of INR 1.00 per equity share of INR 10 each for the financial year 2021 -22. Announcement • Jul 26
H.G. Infra Engineering Limited to Report Q1, 2023 Results on Aug 01, 2022 H.G. Infra Engineering Limited announced that they will report Q1, 2023 results at 4:00 AM, Indian Standard Time on Aug 01, 2022 Upcoming Dividend • Jul 14
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 1.7% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (1.4%). Reported Earnings • Jul 13
Full year 2022 earnings released: EPS: ₹58.31 (vs ₹36.31 in FY 2021) Full year 2022 results: EPS: ₹58.31 (up from ₹36.31 in FY 2021). Revenue: ₹37.5b (up 44% from FY 2021). Net income: ₹3.80b (up 61% from FY 2021). Profit margin: 10% (up from 9.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Jul 12
H.G. Infra Engineering Limited Proposes Dividend for the Financial Year 2021-22, Payable on or Before September 01, 2022 The AGM of H.G. Infra Engineering Limited is scheduled to be held on August 03, 2022, the board proposed a dividend of INR 1 (@ 10%) per equity share having face value of INR 10 each fully paid-up for the financial year 2021-22. The said Dividend, if declared by the members at the AGM, shall be paid on or before September 01, 2022, subject to deduction of tax at source as applicable. Announcement • Jul 06
H.G. Infra Engineering Limited, Annual General Meeting, Aug 03, 2022 H.G. Infra Engineering Limited, Annual General Meeting, Aug 03, 2022, at 14:00 Indian Standard Time. Agenda: To recommend a final dividend of INR 1 per equity share; and to consider other matters, if any. Reported Earnings • May 26
Full year 2022 earnings released: EPS: ₹58.31 (vs ₹36.31 in FY 2021) Full year 2022 results: EPS: ₹58.31 (up from ₹36.31 in FY 2021). Revenue: ₹37.6b (up 44% from FY 2021). Net income: ₹3.80b (up 61% from FY 2021). Profit margin: 10% (up from 9.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 24
H.G. Infra Engineering Limited Recommends Final Dividend for the Financial Year Ended March 31, 2022 H.G. Infra Engineering Limited at the board meeting held on May 23, 2022 recommended a final dividend of INR 1 per equity share of face value of INR 10 each for the financial year ended March 31, 2022, subject to the approval of the shareholders at the upcoming 20" Annual General Meeting (`AGM') of the Company, which if approved, shall be paid within thirty days from the conclusion of the AGM.