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H.G. Infra Engineering Limited
NSE: HGINFRA · Construction
₹400.55-0.39%06 Nov 2026
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Instant answers about H.G. Infra Engineering Limited — computed from its filings, no language modelMarket cap₹2,610 cr
Current price₹400.55
High / Low₹924 / ₹378
P/E12.2
P/B0.79
Book value₹504.4
ROE6.5%
ROCE10.5%
Debt / equity1.48
Dividend yield0.50%
EPS (TTM)₹32.74
Face value₹10
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,393 | 2,014 | 2,217 | 2,602 | 3,751 | 4,622 | 5,378 | 5,056 | 5,235 |
| EBITDA | 208 | 305 | 356 | 476 | 710 | 895 | 1,062 | 1,058 | 1,012 |
| Operating margin | 14.9% | 15.1% | 16.0% | 18.3% | 18.9% | 19.4% | 19.7% | 20.9% | 19.3% |
| Interest | 40 | 49 | 60 | 94 | 118 | 154 | 217 | 265 | 469 |
| Depreciation | 54 | 75 | 76 | 84 | 85 | 96 | 141 | 144 | 168 |
| Profit before tax | 119 | 192 | 234 | 312 | 515 | 663 | 740 | 679 | 455 |
| Tax | 34 | 67 | 64 | 75 | 135 | 171 | 201 | 175 | 125 |
| Net profit | 0 | 0 | 0 | 0 | 380 | 493 | 539 | 505 | 330 |
| EPS ₹ | 15.39 | 19.54 | 25.57 | 36.31 | 58.31 | 75.68 | 82.64 | 77.55 | 50.61 |
| Operating cash flow | — | — | — | — | -322 | -139 | -311 | -422 | 250 |
| Capex | — | — | — | — | 68 | 339 | 233 | -1,561 | 954 |
| Dividend paid | — | — | — | — | 5 | 7 | 8 | -10 | 13 |
| Total assets | — | — | — | — | — | 4,927 | 5,434 | 8,773 | 10,901 |
| Equity | — | — | — | — | — | 1,922 | 2,455 | 2,950 | 3,265 |
Quarterly performance
last 34 quarters · ₹ crore| MAR '18 | SEP '18 | DEC '18 | MAR '19 | JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 504 | 429 | 551 | 584 | 532 | 479 | 571 | 634 | 312 | 483 | 751 | 1,056 | 941 | 782 | 951 | 1,065 | 1,106 | 796 | 1,185 | 1,535 | 1,351 | 955 | 1,365 | 1,708 | 1,528 | 902 | 1,265 | 1,361 | 1,482 | 904 | 1,421 | 1,427 | 1,101 | 974 |
| Operating profit | 79 | 62 | 81 | 95 | 84 | 77 | 85 | 109 | 61 | 91 | 131 | 193 | 176 | 151 | 178 | 192 | 199 | 161 | 238 | 297 | 281 | 220 | 228 | 333 | 312 | 220 | 287 | 239 | 260 | 206 | 309 | 237 | 304 | 250 |
| Operating margin | 15.6% | 14.5% | 14.6% | 16.3% | 15.9% | 16.1% | 14.9% | 17.2% | 19.6% | 18.8% | 17.5% | 18.2% | 18.7% | 19.3% | 18.7% | 18.1% | 18.0% | 20.2% | 20.1% | 19.3% | 20.8% | 23.1% | 16.7% | 19.5% | 20.4% | 24.3% | 22.7% | 17.6% | 17.5% | 22.8% | 21.7% | 16.6% | 27.6% | 25.6% |
| Other income | 1 | 3 | 3 | 2 | 3 | 5 | 4 | 2 | 3 | 1 | 3 | 7 | 3 | 5 | 9 | 3 | 3 | 4 | 4 | 7 | 5 | 3 | 4 | 6 | 4 | 4 | 3 | 3 | 2 | 13 | 4 | 9 | 5 | 24 |
| Interest | 15 | 10 | 11 | 16 | 14 | 12 | 16 | 18 | 18 | 21 | 24 | 31 | 26 | 28 | 30 | 34 | 34 | 33 | 40 | 47 | 52 | 59 | 57 | 48 | 57 | 62 | 75 | 71 | 95 | 108 | 129 | 137 | 118 | 116 |
| Depreciation | 19 | 18 | 20 | 20 | 18 | 18 | 19 | 21 | 19 | 21 | 22 | 23 | 20 | 21 | 22 | 22 | 20 | 24 | 26 | 26 | 31 | 35 | 37 | 38 | 35 | 36 | 36 | 37 | 36 | 40 | 44 | 48 | 45 | 53 |
| Profit before tax | 46 | 38 | 52 | 60 | 56 | 52 | 54 | 72 | 26 | 51 | 89 | 147 | 133 | 107 | 136 | 139 | 148 | 108 | 177 | 231 | 203 | 129 | 156 | 252 | 225 | 125 | 179 | 151 | 132 | 72 | 139 | 112 | -0 | 105 |
| Tax | 10 | 13 | 17 | 22 | 19 | 10 | 17 | 18 | 6 | 13 | 21 | 35 | 32 | 32 | 35 | 35 | 39 | 26 | 46 | 60 | 53 | 33 | 54 | 62 | 62 | 45 | 65 | 4 | 32 | 19 | 45 | 28 | 44 | 25 |
| Net profit | 0 | 26 | 36 | 0 | 0 | 41 | 34 | 0 | 20 | 38 | 0 | 0 | 0 | 75 | 101 | 104 | 0 | 82 | 0 | 171 | 150 | 0 | 0 | 190 | 163 | 81 | 115 | 147 | 99 | 52 | 94 | 85 | -45 | 79 |
| EPS ₹ | 6.57 | 3.91 | 5.45 | 5.93 | 5.82 | 6.27 | 5.14 | 8.34 | 3.06 | 5.81 | 10.40 | 17.05 | 15.50 | 11.43 | 15.43 | 15.95 | 16.79 | 12.57 | 20.09 | 26.23 | 23.08 | 14.75 | 15.66 | 29.16 | 24.94 | 12.38 | 17.66 | 22.56 | 15.23 | 7.95 | 14.44 | 12.99 | -6.83 | 12.24 |
| Revenue YoY | — | — | — | 15.9% | — | 11.6% | 3.8% | 8.6% | -41.4% | 0.8% | 31.4% | 66.6% | 201.9% | 61.7% | 26.7% | 0.8% | 17.5% | 1.8% | 24.5% | 44.2% | 22.2% | 20.0% | 15.2% | 11.3% | 13.1% | -5.5% | -7.3% | -20.3% | -3.0% | 0.2% | 12.4% | 4.8% | -25.7% | 7.6% |
| Profit YoY | — | — | — | — | — | 60.3% | -5.8% | — | — | -7.4% | -100.0% | — | -100.0% | 96.9% | — | — | — | 10.0% | -100.0% | 64.4% | — | -100.0% | — | 11.2% | 8.1% | — | — | -22.7% | -39.2% | -35.4% | -18.1% | -42.1% | -145.7% | 51.6% |
Returns & margins
trailing-twelve-month, per quarter| JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — | — | — | 17.7% | 11.5% | 13.2% | 21.0% | 14.9% | 14.9% | 13.9% | 14.4% | 16.1% | 20.4% | 17.1% | 15.0% | 13.4% | 12.7% | 10.1% | 5.7% | 6.5% |
| ROCE | — | — | — | — | — | — | — | — | — | — | — | — | — | 21.7% | 23.4% | 21.3% | 23.2% | 26.1% | 26.0% | 24.2% | 24.8% | 19.3% | 20.1% | 13.4% | 12.6% | 10.2% | 10.3% | 11.3% | 9.9% | 10.5% |
| Net margin | 2.9% | 3.6% | 3.4% | 3.4% | 4.7% | 4.6% | 2.7% | 2.2% | 1.2% | 2.1% | 4.7% | 7.5% | 7.1% | 7.3% | 4.5% | 5.5% | 8.3% | 6.4% | 6.2% | 6.3% | 6.3% | 7.9% | 10.2% | 10.0% | 8.8% | 8.2% | 7.6% | 6.3% | 3.8% | 4.3% |
| EBITDA margin | 15.4% | 15.7% | 15.8% | 16.0% | 16.6% | 17.3% | 18.0% | 18.3% | 18.3% | 18.4% | 18.7% | 18.7% | 18.5% | 18.7% | 19.1% | 19.4% | 20.1% | 20.6% | 19.7% | 19.7% | 19.7% | 19.9% | 21.3% | 20.9% | 20.1% | 19.8% | 19.6% | 19.3% | 21.8% | 22.3% |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 0.88 | 0.88 | 0.99 | 0.99 | 0.66 | 0.66 | 0.61 | 0.61 | 0.89 | 0.89 | 1.39 | 1.39 | 1.81 | 1.81 | 1.51 | 1.51 | 1.48 |
| Interest coverage | 5.05 | 5.11 | 4.81 | 4.91 | 4.16 | 3.78 | 3.93 | 4.31 | 5.12 | 5.37 | 5.58 | 5.37 | 5.21 | 5.03 | 5.04 | 5.31 | 5.17 | 4.75 | 4.34 | 4.41 | 4.44 | 4.37 | 4.22 | 3.57 | 2.94 | 2.53 | 2.23 | 1.97 | 1.66 | 1.71 |
| Asset turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | 1.05 | 1.11 | 0.94 | 0.99 | 0.94 | 0.97 | 0.99 | 1.02 | 0.83 | 0.81 | 0.58 | 0.57 | 0.48 | 0.50 | 0.48 | 0.45 | 0.49 |
Balance sheet
equity vs borrowings over time · ₹ crore| SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|
| Share capital | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 |
| Other equity / reserves | 1,555 | 1,857 | 2,095 | 2,390 | 2,625 | 2,884 | 3,022 | 3,200 | 3,222 |
| Total equity | 1,620 | 1,922 | 2,160 | 2,455 | 2,690 | 2,950 | 3,087 | 3,265 | 3,288 |
| Borrowings | 1,425 | 1,907 | 1,432 | 1,504 | 2,404 | 4,092 | 5,575 | 4,934 | 4,881 |
| Current liabilities | 932 | 1,459 | 1,359 | 1,558 | 1,828 | 2,430 | 2,891 | 3,806 | 3,632 |
| Non-current liabilities | 1,175 | 1,546 | 1,035 | 1,218 | 1,943 | 3,393 | 4,401 | 3,190 | 3,194 |
| Total assets | 3,727 | 4,927 | 5,342 | 5,434 | 6,660 | 8,773 | 10,394 | 10,901 | 10,131 |
| Property, plant & equipment | 522 | 621 | 718 | 726 | 691 | 879 | 1,555 | 2,291 | 2,740 |
| Capital work-in-progress | 26 | 72 | 1 | 14 | 312 | 1,349 | 1,322 | 740 | 440 |
| Investments | 9 | 10 | 10 | 10 | 11 | 12 | 11 | 12 | 13 |
| Inventories | 220 | 235 | 280 | 297 | 396 | 451 | 420 | 375 | 480 |
| Receivables | 479 | 736 | 572 | 677 | 534 | 674 | 451 | 804 | 611 |
| Cash & equivalents | 48 | 93 | 9 | 115 | 11 | 87 | 62 | 95 | 90 |
Cash flow
annual · ₹ crore · line = free cash flow| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -322 | -139 | -311 | -422 | 250 |
| Cash from investing | -66 | -378 | 17 | 1,669 | -1,074 |
| Cash from financing | 293 | 562 | 319 | 3,241 | 832 |
| Capex | 68 | 339 | 233 | -1,561 | 954 |
| Free cash flow | -389 | -478 | -544 | 1,139 | -704 |
| Dividends paid | 5 | 7 | 8 | -10 | 13 |
Where the assets sit
Sep '26 · ₹ croreFixed assets (PPE)₹2,740 cr27%
CWIP₹440 cr4%
Investments₹13 cr0%
Inventories₹480 cr5%
Receivables₹611 cr6%
Cash & equivalents₹90 cr1%
Other assets₹5,757 cr57%
Peer comparison
largest in Construction · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Larsen & Toubro Ltd. | 5,66,554 | 4,117.70 | 31.7 | 5.01 | 15.8% |
| Rail Vikas Nigam Ltd. | 40,312 | 193.34 | 44.8 | 4.10 | 9.2% |
| Kalpataru Projects International Ltd. | 23,413 | 1,370.80 | 19.8 | 2.76 | 14.0% |
| Cemindia Projects Ltd. | 22,734 | 1,323.30 | 47.0 | 8.68 | 18.5% |
| NBCC (India) Ltd. | 21,184 | 78.00 | 26.6 | 6.59 | 24.7% |
| IRB Infrastructure Developers Ltd. | 20,557 | 17.02 | 19.1 | 0.97 | 5.0% |
| Engineers India Ltd. | 16,451 | 292.70 | 18.3 | 4.92 | 26.9% |
| Techno Electric & Engineering Company Ltd. | 10,798 | 928.50 | 25.1 | 2.60 | 10.4% |
| IRCON International Ltd. | 10,173 | 108.17 | 20.9 | 1.50 | 7.2% |
| RITES Ltd. | 9,358 | 194.72 | 23.1 | 3.52 | 15.2% |
| H.G. Infra Engineering Limited | 2,610 | 400.55 | 12.2 | 0.79 | 6.5% |
StoxGud checklist: Bearish setup · 3/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-3.7%
6 months-36.3%
1 year-56.8%
3Y CAGR-23.8%
5Y CAGR-12.7%
10Y CAGR—
50-day avg₹433.75
200-day avg₹537.09
RSI (14)46
FAQs
What is the share price of H.G. Infra Engineering Limited?
H.G. Infra Engineering Limited (HGINFRA) closed at ₹400.55 on NSE on 06 Nov 2026.
What is the market cap of H.G. Infra Engineering Limited?
₹2,610 crore at the latest close.
What is the P/E ratio of H.G. Infra Engineering Limited?
12.2, on trailing-twelve-month earnings from its filings.
How fast is H.G. Infra Engineering Limited growing?
H.G. Infra Engineering Limited: revenue has compounded at 4.2% a year over three years; net profit at -12.5% a year. Latest-quarter revenue is up 7.6% year on year, profit up 51.6%.
How profitable is H.G. Infra Engineering Limited?
On a trailing-twelve-month basis return on equity is 6.5%, return on capital employed 10.5%, operating margin 22.3%, net margin 4.3%.
How much debt does H.G. Infra Engineering Limited have?
H.G. Infra Engineering Limited is moderately geared: debt to equity is 1.48 with borrowings of ₹4,881 cr against cash of ₹90 cr (balance sheet of 2026-09-30). Operating profit covers interest 1.7 times.
Financials parsed from H.G. Infra Engineering Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.
H.G. Infra Engineering Limited · advanced chart