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Highway Infrastructure Limited
(HILINFRA)
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Rating:53Neutral
Price Target:
₹46.00
▲(4.97% Upside)
Action:Reiterated
Date:08/28/26
The score is held back primarily by weak and deteriorating cash-flow generation (negative operating and free cash flow in the last two years), which raises funding and earnings-quality risk despite strong revenue growth and a generally supportive balance sheet. Technicals add pressure with the price below key moving averages and slightly negative MACD, while valuation is moderately supportive with a P/E around 12.
Positive Factors
Strong Revenue and Net Income Growth
Sustained multi-year revenue expansion and rising net income indicate growing business scale and market demand. This provides a stronger base for future operating leverage, although converting growth into consistent cash generation remains important.
Negative Factors
Deteriorating Cash Generation
Recent negative operating and free cash flow weakens earnings quality and indicates the company is not currently self-funding operations and growth. Persistent cash conversion problems could increase reliance on external financing and constrain expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Net Income Growth
Sustained multi-year revenue expansion and rising net income indicate growing business scale and market demand. This provides a stronger base for future operating leverage, although converting growth into consistent cash generation remains important.
Read all positive factors
Highway Infrastructure Limited (HILINFRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.11B
Dividend YieldN/A
Average Volume (3M)9.45K
Price to Earnings (P/E)11.7
Beta (1Y)0.93
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees137
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)3.69
Shares Outstanding71,720,634
10 Day Avg. Volume10,869
30 Day Avg. Volume9,449
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.20
Price to Sales (P/S)0.45
P/FCF Ratio-3.56
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)N/A
Revenue Forecast (FY)N/A
Highway Infrastructure Limited Business Overview & Revenue Model
Company Description
Highway Infrastructure Limited operates extensively across India, providing both toll collection and broader infrastructure services. Its operations are structured into three distinct divisions: Toll, Work Contract & Machinery Hire, and Real Estat...
Highway Infrastructure Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.99B | 6.08B | 4.96B | 5.73B | 4.55B | 3.55B |
| Gross Profit | 283.14M | 348.77M | 466.70M | 563.82M | 453.52M | 323.67M |
| EBITDA | 432.16M | 260.62M | 384.85M | 398.60M | 281.29M | 187.09M |
| Net Income | 258.78M | 320.62M | 196.70M | 189.62M | 117.12M | 83.34M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.77B | 2.32B | 2.03B | 1.57B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 143.19M | 143.19M | 148.70M | 232.83M | 88.80M | 100.48M |
| Total Debt | 0.00 | 1.04B | 721.05M | 700.69M | 636.28M | 570.64M |
| Total Liabilities | -2.29B | 1.49B | 1.14B | 1.02B | 817.79M | 917.19M |
| Stockholders Equity | 2.29B | 2.28B | 1.13B | 931.70M | 741.23M | 624.70M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -768.66M | -66.37M | 108.23M | 16.81M | -18.33M |
| Operating Cash Flow | 0.00 | -691.22M | -49.49M | 142.19M | 41.52M | -12.11M |
| Investing Cash Flow | 0.00 | -516.78M | 120.09M | -60.27M | -36.24M | -162.46M |
| Financing Cash Flow | 0.00 | 1.15B | -53.76M | -28.77M | -10.25M | 181.73M |
Highway Infrastructure Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹3.11B | 11.72 | ― | ― | ― | ― | |
50 Neutral | ₹744.78M | 2.65 | ― | 13.51% | 7.31% | ― | |
43 Neutral | ₹462.53M | -21.11 | ― | ― | 439.66% | -100.16% | |
42 Neutral | ₹1.35B | -0.77 | ― | 0.82% | -28.52% | -179.94% |
* General Sector Average
IN:HILINFRA
Highway Infrastructure Limited
44.00
-41.80
-48.72%
IN:BRNL
Bharat Road Network Ltd.
16.99
-4.63
-21.42%
IN:GAYAHWS
Gayatri Highways Ltd.
1.90
-1.21
-38.91%
IN:IL&FSTRANS
IL&FS Transportation Networks Limited
1.87
-1.29
-40.82%
IN:MEP
MEP Infrastructure Developers Ltd.
0.65
-1.07
-62.21%
IN:NOIDATOLL
Noida Toll Bridge Co. Ltd.
4.06
-0.16
-3.79%
Highway Infrastructure Limited Corporate Events
Highway Infrastructure shuts trading window ahead of June-quarter results
Jun 25, 2026
Highway Infrastructure Limited has announced that its trading window for dealing in company securities will be closed from July 1, 2026, for all insiders, including designated persons and their immediate relatives, in line with SEBI’s Prohib...
Highway Infrastructure revamps articles, extends top leadership terms
Jun 6, 2026
Highway Infrastructure Limited has amended its Articles of Association, with the board approving alterations that will now be placed before shareholders for approval, signaling potential changes to the company’s governance framework. The boa...
Highway Infrastructure Tweaks Governance, Extends Top Leadership Tenure
Jun 6, 2026
Highway Infrastructure Limited’s board has approved changes to its Articles of Association, subject to shareholder approval, signaling potential updates to the company’s governance framework as it refines its corporate structure. The b...
Highway Infrastructure Tweaks Articles of Association and Extends Top Leadership Terms
Jun 6, 2026
Highway Infrastructure Limited has approved alterations to certain clauses in its Articles of Association and adopted the revised version, with implementation subject to shareholder approval. The move signals a potential update to the company̵...
Highway Infrastructure Board Clears Governance Changes and Extends Top Leadership Tenure
Jun 6, 2026
Highway Infrastructure Limited’s board has approved amendments to the company’s Articles of Association, with the revised articles to be adopted subject to shareholder approval. The move indicates a potential update to the company̵...
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.