NSE: HGINFRA | BSE: 541019

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780.80 -9.15 (-1.16%)

New 52W Low in past week

75,138 NSE+BSE Volume

NSE 26 Dec, 2025 3:31 PM (IST)

5,088.6

Market Cap

High in industry

Beta 1Year

Very High Volatility

HG Infra Engineering Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HGINFRA, BSE:541019 HG Infra Engineering Ltd.

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HG Infra Engineering Ltd.

17 Nov 2025

780.80

-1.16%

Muted show, softer order inflows with high debt; BUY with lower TP

Buy: HG Infra Engineering Ltd.

Target

Anand Rathi

HG Infra’s revenue grew 8.4% y/y to ~Rs11.5bn in Q2, led by higher execution albeit partially impacted by prolonged monsoon. EBITDA margin fell to 12.7% from 16.4% in Q2 FY25, due to one-time provisioning.

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

17 Nov 2025

780.80

-1.16%

HG Infra Engineering

Buy: HG Infra Engineering Ltd.

Target

ICICI Direct

Well placed to fund HAM equity: The total equity requirement for 11 HAM projects stands at 1,709 crore, of which 1,165 crore has already been infused as of September 2025. With a major portion already funded and additional liquidity expected from upcoming asset monetization (1,384 crore in net cash proceeds for equity investment, likely to complete by FY26 end), the...

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

17 Nov 2025

780.80

-1.16%

Walking a tightrope

Hold: HG Infra Engineering Ltd.

Target

ICICI Securities Limited

HG Infra (HG) reported a soft Q2FY26, with revenue up 8.4% YoY but short of our expectation due to delayed project starts and slower execution. EBITDA declined 16% YoY to INR 1.5bn, as margins shrank 368bps YoY to 12.7%, impacted by lower operating leverage.

HG Infra Engineering has lost -24.93% in the last 6 Months

HG Infra Engineering Ltd.

14 Nov 2025

780.80

-1.16%

H.G. Infra Engineering: Q2FY26 Result Review

Buy: HG Infra Engineering Ltd.

Target

IDBI Capital

HG Infra delivered a mixed set of results in Q2FY26 that underline execution progress on its large road/HAM portfolio but also reflect near-term noise from project accounting, higher financing and working-capital needs, on a standalone basis revenue rose to Rs11.5bn in Q2 vs Rs10.6bn a year ago (+8.4% YoY) but declined sharply QoQ from Rs17bn in Q1, driven by phasing of project billings. EBITDA dropped to Rs1.5bn with 12.7% margin versus 16.4% last year and PAT fell to Rs673mn, at 5.8% margin, reflecting higher finance costs and some oneoff provisions taken on specific contracts. We maintain BUY rating on the stock with revised TP at Rs1,126 value at 10x FY26E EPS. Q2 consolidated revenue was...

HG Infra Engineering has lost -24.93% in the last 6 Months

HG Infra Engineering Ltd.

21 Aug 2025

780.80

-1.16%

Q1 orders, execution sustained; Half OB yet to start execution; Buy with lower TP

Buy: HG Infra Engineering Ltd.

Target

Anand Rathi

Beating ARe, HG Infra’s Q1 ~Rs17.1bn revenue (up 13.5% y/y) reflects its strong execution abilities. The dip in the 13.8% EBITDA margins (16.2%, Q1 FY25) is attributed to one-time provisions.

HG Infra Engineering has lost -24.93% in the last 6 Months

HG Infra Engineering Ltd.

17 Aug 2025

780.80

-1.16%

H.G. Infra Engineering: Q1FY26 Result Review

Buy: HG Infra Engineering Ltd.

Target

IDBI Capital

HG Infra (HGIEL) Q1FY26 performance was mixed, with a softer undertone despite healthy standalone revenue growth. On a standalone basis, revenue came in at Rs17,092.4mn, representing a 13.5% YoY increase but a 13.4% sequential decline. Profit after tax fell 10.1% YoY and 40.9% QoQ to Rs1,254.7 mn, as EBITDA margins contracted to 13.8% from 15.9% a year earlier. The fall in profitability was largely driven by a Rs43 crore one-off margin correction in the Ganga Expressway project due to a change in law provision, alongside higher finance costs and impairment provisions on receivables. Standalone PAT...

HG Infra Engineering has lost -24.93% in the last 6 Months

HG Infra Engineering Ltd.

17 Aug 2025

780.80

-1.16%

On-track execution aids in steady core performance

Buy: HG Infra Engineering Ltd.

Target

Emkay

HGIEL posted 14%/1% YoY revenue/EBITDA growth in Q1FY26 to Rs17.1/2.5bn, respectively, while RPAT stood at Rs1.3bn.

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

16 Aug 2025

780.80

-1.16%

Execution risk intensifying; downgrade to HOLD

Hold: HG Infra Engineering Ltd.

Recommendation Target

ICICI Securities Limited

Order awarding in the road sector has been soft for the past two years, impacting HG Infra’s (HG) order book (OB), now at INR 147bn (2.2x TTM revenues) – part of this (INR 31bn) is yet to receive appointed date.

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

30 Jun 2025

780.80

-1.16%

Axis Punch:H.G. Infra Engg.

Buy: HG Infra Engineering Ltd.

Target

Axis Direct

We maintain our BUY rating on HGIEL with a target price of Rs 1,155/share. The TP implies an upside of 10% from the CMP.

HG Infra Engineering has lost -24.93% in the last 6 Months

HG Infra Engineering Ltd.

26 May 2025, 12:00AM

780.80

-1.16%

Steady execution with one-off muted margins in Q4; retaining a Buy

Buy: HG Infra Engineering Ltd.

Target

Anand Rathi

A steady execution pace, continued operating profitability and steady orders make HG Infra’s FY25 results comforting with one-off margins in Q4. This sets the tone for an even better performance ahead.

HG Infra Engineering Ltd. is trading below all available SMAs

Is HG Infra Engineering Ltd. worth buying?

307 Votes:

Buy 86.64%

Sell 5.86%

Hold 7.49%

RESEARCH REPORTS

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