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H.G. Infra Engineering Ltd.
(HGINFRA)
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Rating:54Neutral
Price Target:
₹506.00
▼(-5.71% Downside)
Action:Reiterated
Date:08/30/26
The score is held back primarily by weak financial quality—persistent negative operating/free cash flow alongside rising leverage—despite historically strong revenue scaling and still-decent operating margins. Technical indicators also point to a downtrend with negative momentum. Valuation is relatively reasonable (P/E 17.39) but the low dividend yield offers limited support, keeping the overall score in the mid-range.
Positive Factors
Revenue Scale
Revenue has more than doubled over the period, demonstrating meaningful operating scale. A larger execution base can support procurement leverage, equipment utilization and resilience across public infrastructure programs.
Negative Factors
Persistent Cash Burn
Repeated negative operating and free cash flow shows that reported profits are not consistently converting into cash. This can increase reliance on external funding and constrain the company’s ability to self-finance growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scale
Revenue has more than doubled over the period, demonstrating meaningful operating scale. A larger execution base can support procurement leverage, equipment utilization and resilience across public infrastructure programs.
Read all positive factors
H.G. Infra Engineering Ltd. (HGINFRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹31.61B
Dividend Yield0.42%
Average Volume (3M)15.67K
Price to Earnings (P/E)16.8
Beta (1Y)1.84
Revenue Growth-3.14%
EPS Growth-57.80%
CountryIN
Employees5,077
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)28.55
Shares Outstanding65,171,110
10 Day Avg. Volume4,412
30 Day Avg. Volume15,673
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)0.86
Price to Sales (P/S)0.54
P/FCF Ratio-2.46
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)53.26
Revenue Forecast (FY)₹58.36B
H.G. Infra Engineering Ltd. Business Overview & Revenue Model
Company Description
H.G. Infra Engineering Limited, an Indian firm, specializes in road construction and comprehensive engineering, procurement, and construction (EPC) services. Its operations encompass the development and maintenance of critical transport infrastruc...
How the Company Makes Money
HGINFRA makes money mainly by executing infrastructure construction contracts and recognizing revenue based on progress/milestones under those contracts. Its key revenue streams are: (1) EPC contract revenue from building roads/highways and associ...
H.G. Infra Engineering Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.59B | 52.35B | 50.56B | 53.78B | 44.66B | 36.63B |
| Gross Profit | 13.81B | 9.64B | 14.68B | 15.24B | 7.38B | 7.92B |
| EBITDA | 11.33B | 10.91B | 10.64B | 10.58B | 9.12B | 7.16B |
| Net Income | 1.86B | 3.30B | 5.05B | 5.39B | 4.93B | 3.80B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 109.01B | 87.73B | 54.34B | 49.27B | 32.92B |
| Cash, Cash Equivalents and Short-Term Investments | 2.49B | 2.49B | 1.97B | 2.04B | 2.67B | 566.37M |
| Total Debt | 0.00 | 50.29B | 41.70B | 15.13B | 19.10B | 11.84B |
| Total Liabilities | -32.81B | 76.20B | 58.23B | 29.79B | 30.05B | 18.56B |
| Stockholders Equity | 32.81B | 32.65B | 29.50B | 24.55B | 19.22B | 14.36B |
Cash Flow | ||||||
| Free Cash Flow | -12.44B | -11.45B | -24.36B | -5.44B | -4.78B | -3.89B |
| Operating Cash Flow | -5.35B | -1.91B | -8.78B | -3.11B | -1.39B | -3.22B |
| Investing Cash Flow | -7.51B | -10.87B | -14.61B | 169.55M | -3.78B | -656.42M |
| Financing Cash Flow | 12.60B | 12.87B | 23.10B | 3.19B | 5.62B | 2.93B |
H.G. Infra Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹36.93B | 9.60 | ― | 0.83% | -2.47% | -6.60% | |
66 Neutral | ₹51.57B | 23.97 | ― | 0.91% | -29.86% | -22.89% | |
65 Neutral | ₹32.09B | 1.29 | ― | 0.65% | -24.59% | 39.70% | |
59 Neutral | ₹33.66B | 8.76 | ― | 0.20% | -37.51% | -58.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹31.61B | 16.76 | ― | 0.42% | -3.14% | -57.80% | |
52 Neutral | ₹34.68B | 32.34 | ― | 0.31% | 44.77% | 231.43% |
* General Sector Average
IN:HGINFRA
H.G. Infra Engineering Ltd.
478.05
-502.96
-51.27%
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H.G. Infra Engineering Ltd. Corporate Events
H.G. Infra posts Q1 FY27 earnings call transcript for investors
Aug 17, 2026
H.G. Infra Engineering Ltd. has notified exchanges that the transcript of its earnings conference call for the first quarter of FY27, covering unaudited standalone and consolidated financial results for the period ended June 30, 2026, has been mad...
H.G. Infra sells majority stake in Raipur-Visakhapatnam project SPV to Neo Infra fund
Jun 5, 2026
H.G. Infra Engineering Ltd. has sold 49% of its stake in its special purpose vehicle, H.G. Raipur Visakhapatnam OD-5 Private Ltd., to Neo Infra Income Opportunities Fund, an alternative investment fund, for part of a total consideration of Rs. 377...
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.