NSE: HGINFRA | BSE: 541019

Slowing Down Stock

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502.15 0.25 (0.05%)

52.17% Fall from 52W High

43,446 NSE+BSE Volume

NSE 27 Aug, 2026 3:31 PM (IST)

3,272.6

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.

19 Aug 2026

502.15

0.05%

HG Infra Engineering

Sell: HG Infra Engineering Ltd.

Recommendation Target

ICICI Direct

orderbook stood at 14,502 crore as 3x TTM book to bill. Although management targets new order inflows of 11,000-12,000 crore for FY27 (having won ~5,500 crore in Q1), clarity over execution visibility is missing. Moreover, over 6,000 crore more than 41% of the total orderbook-is currently not under execution due to persistent land acquisition delays, pending appointed dates, and right-of-way permissions across major projects. Furthermore, intense sector competition threatens project win profitability...

Number of FII/FPI investors decreased from 68 to 59 in Jun 2026 qtr

HG Infra Engineering Ltd.

01 Jun 2026

502.15

0.05%

Execution undershoots expectation; recent order wins offer comfort

Hold: HG Infra Engineering Ltd.

Target

ICICI Securities Limited

HG Infra (HG) has been walking a tight rope, with both execution and ordering falling short of its own guidance, as ordering in the road segment has been weak over the last three years. It had guided for INR 65bn in revenue for FY26 with EBITDA margin of ~14%.

HG Infra Engineering has lost -48.61% in the last 1 Year

HG Infra Engineering Ltd.

01 Jun 2026

502.15

0.05%

Result Update:H.G. Infra Engg.

Buy: HG Infra Engineering Ltd.

Target

Axis Direct

We rollover our estimates to FY28 and maintain our BUY recommendation on the stock.

ICICI Direct downgraded HG Infra Engineering Ltd. to Sell with a price target of 505.0 on 19 Aug, 2026.

HG Infra Engineering Ltd.

25 Mar 2026

502.15

0.05%

H.G. INFRA ENGINEERING LIMITED

Buy: HG Infra Engineering Ltd.

Target

Geojit BNP Paribas

Management is focused on diversifying the order book while maintaining a healthy margin profile to support long-term growth. However, given weak execution, elevated debt levels, and uncertainty around the outcome of the CBI investigation, we remain...

Number of FII/FPI investors decreased from 68 to 59 in Jun 2026 qtr

HG Infra Engineering Ltd.

17 Nov 2025

502.15

0.05%

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 -48.61% in the last 1 Year

HG Infra Engineering Ltd.

17 Nov 2025

502.15

0.05%

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.. has an average target of 780.33 from 6 brokers.

HG Infra Engineering Ltd.

17 Nov 2025

502.15

0.05%

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...

ICICI Direct downgraded HG Infra Engineering Ltd. to Sell with a price target of 505.0 on 19 Aug, 2026.

HG Infra Engineering Ltd.

14 Nov 2025

502.15

0.05%

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...

Number of FII/FPI investors decreased from 68 to 59 in Jun 2026 qtr

HG Infra Engineering Ltd.

08 Oct 2025

502.15

0.05%

H.G. INFRA ENGINEERING LIMITED

Buy: HG Infra Engineering Ltd.

Target

Geojit BNP Paribas

The company plans to derive 3040% of its order book over the next 23 years from non-road segments, including railways, metros, renewable energy, and transmission projects. During the quarter, HG Infra has received its first transmission projects worth...

HG Infra Engineering.. has an average target of 780.33 from 6 brokers.

HG Infra Engineering Ltd.

21 Aug 2025

502.15

0.05%

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 -48.61% in the last 1 Year

Is HG Infra Engineering Ltd. worth buying?

319 Votes:

Buy 86.21%

Sell 6.27%

Hold 7.52%

RESEARCH REPORTS

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