HG Infra Engineering Ltd. News and Updates

Name: Latest research reports of HG Infra Engineering Ltd. authored by Dolat Capital and published by - Trendlyne research reports.
Item: HG Infra Engineering Ltd.
Rating: 5
Author: Dolat Capital

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HG Infra Engineering Ltd.

27 May 2019

1050.80

-0.90%

HG Infra Engg

Buy: HG Infra Engineering Ltd.

Dolat Capital

View: Growth momentum to continue; maintain Buy HGINFRA posted a 15.1% YoY growth in revenue in Q4FY19 (highest quarterly revenue in its history) to `5.8 bn (11.6% below our estimate), due to muted execution. The EBITDA margin was up 46 bps YoY to 16.1% (116 bps above our estimate), primarily due to a lower construction cost at 76.6% of revenue, which was partially offset by higher employee and other expenses. The PAT was up 2.1% YoY to `367 mn (19.5% below our...

HG Infra Engineering Ltd. has lost -39.22% in the last 1 Year

HG Infra Engineering Ltd.

05 Mar 2019

1050.80

-0.90%

Incorporated in 2003, HG Infra Engineering Ltd. (HG Infra) is an emerging pure-play EPC c...

Buy: HG Infra Engineering Ltd.

Emkay

Refer to important disclosures at the end of this report An emerging pure-play EPC player; Disciplined execution, healthy order book, and strong client reputation the hallmarks of a strong franchise This report is solely produced by Emkay Global. The following person(s)...

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

04 Feb 2019

1050.80

-0.90%

H.G. Infra Engineering (3QFY19): In control. Maintain BUY

Buy: HG Infra Engineering Ltd.

Target

HDFC Securities

Maintain BUY with Rs 408/sh TP. HG Infra Engineering Ltd. (HG) posted strong revenue/EBITDA/PAT at Rs 5.5/0.8/0.4bn respectively (~7/6/7% estimate beat). Stable EBITDA margins at 14.6% are comforting while management believes there is scope for a further 100bps uptick from here as share of own orders increase in mix.

HG Infra Engineering Ltd. has lost -39.22% in the last 1 Year

HG Infra Engineering Ltd.

05 Nov 2018

1050.80

-0.90%

H.G. Infra Engineering (2QFY19): Inline performance. Maintain BUY

Buy: HG Infra Engineering Ltd.

Target

HDFC Securities

We have upgraded FY19/20E EPS by 11.9/9.4% and increase TP to Rs 399/sh(vs. Rs 366/sh earlier). Maintain BUY. HG Infra Engineering (HG) reported robust execution of Rs 4.3bn in 2QFY19 (+82% YoY, -5% QoQ, 2% miss). Stable EBITDA margins at 14.5% are comforting while management has guided for a further 100bps uptick from here. PAT came in at Rs 246mn a miss of 6.9%.

HG Infra Engineering Ltd. has lost -28.35% in the last 6 Months

HG Infra Engineering Ltd.

25 Sep 2018

1050.80

-0.90%

H.G. Infra Engineering (Update): Dreaming big. Maintain BUY

Buy: HG Infra Engineering Ltd.

HDFC Securities

We maintain BUY with a TP of 386 (ascribing 15x to Core EPC FY20 earnings). We interacted with HG Infra management, Mr. Harendra Singh, MD, Mr. Rajadutta, COO and other senior members of team. Discussion centered on outlook, strategy and vision amidst the sectoral concerns regarding project funding, land acquisition, pace of future tendering and political uncertainty. We also visited 2 key ongoing projects (continuous stretches): Chittorgarh-Udaipur (with Tata Projects, Rs 4.8bn) and Gulabpura-Chittorgarh (with IRB, Rs 7.1bn).

HG Infra Engineering.. has an average target of 1632.00 from 6 brokers.

HG Infra Engineering Ltd.

04 Sep 2018

1050.80

-0.90%

Broker's call: HG Infra (Buy)

Business Line

HDFC SecuritiesHG Infra (Buy)CMP: 238.95Target: 386HG Infra Engineering (HG) is an EPC (engineering, procurement, construction) company with focus o

Axis Direct decreased Buy price target of HG Infra Engineering Ltd. to 1155.0 on 30 Jun, 2025.

HG Infra Engineering Ltd.

04 Sep 2018

1050.80

-0.90%

H.G. Infra Engineering (Initiating Coverage): Ready to Bloom. BUY

Buy: HG Infra Engineering Ltd.

HDFC Securities

With a further pickup in NHAI orders in 2HFY19E, EPC players will only add to their FY18E book/bill of ~ 3.3x. This should address longevity concerns on their earnings up-cycle. For HG, EPS should rise to Rs 24.7/sh in FY20E. HG has a firm grip over working capital (and hence, debt) and should deliver high RoEs >20%. We initiate coverage with a TP of Rs 386/sh (valuing core EPC operations at 15x FY20E EPS) with a BUY rating. HG Infra Engineering (HG) is an EPC company with focus on highways, roads and bridges in addition to civil works and water supply projects. It has been a sub-contractor for established players like L&T;, Tata Projects and IRB Infra. Strong and persistent execution has helped it transform from a sub-contractor to a frontline EPC bidder. HG has grown to pre-qualify for projects up to Rs 11.2/16.0bn in EPC/HAM respectively. The transformation is visible, with HG quadrupling its revenues over FY13-18.

HG Infra Engineering Ltd. has lost -39.22% in the last 1 Year

HG Infra Engineering Ltd.

01 Aug 2018

1050.80

-0.90%

H.G. Infra Engg - 1QFY19 Result Update

Buy: HG Infra Engineering Ltd.

Target

Reliance Securities

HG Infra Engineering Ltd. has lost -39.22% in the last 1 Year

HG Infra Engineering Ltd.

27 Jun 2018

1050.80

-0.90%

HG Infra Engineering Ltd

Business Line

HG Infra Engineering Ltd has received an LoA (letter of agreement) from Modern Road Makers Pvt Ltd (a subsidiary of IRB Infrastructure Developers) for

HG Infra Engineering Ltd. has lost -39.22% in the last 1 Year

HG Infra Engineering Ltd.

25 May 2018

1050.80

-0.90%

H.G. Infra Engg - 4QFY18 Result Update

Buy: HG Infra Engineering Ltd.

Reliance Securities

Strong Performance on Improved Execution: Maintain BUY H.G. Infra Engineering (HGIE) has posted a strong set of numbers for 4QFY18 with its revenue surging by 34% YoY and 57% QoQ to Rs5bn mainly owing to strong order book and improved execution. Led by improved execution and new accounting standard, EBITDA grew by a substantial 79% YoY (+59% QoQ) to Rs787mn. EBITDA margin expanded by 398bps YoY to 15.6% vs. 11.6% and 15.4% in 4QFY17 and 3QFY18, respectively. While its PAT grew by 48% YoY (+90% QoQ) to Rs360mn in 4QFY18, HGIE posted Rs843mn PAT in FY18 (vs. our estimate of Rs782mn). Its current order book at Rs46bn (3.3x of FY18 revenue) provides healthy revenue...

Axis Direct decreased Buy price target of HG Infra Engineering Ltd. to 1155.0 on 30 Jun, 2025.

Is HG Infra Engineering Ltd. worth buying?

288 Votes:

Buy 86.81%

Sell 5.9%

Hold 7.29%

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