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.

HG Infra Engineering Ltd.

11 Nov 2019

927.50

-1.04%

H.G. Infra Engineering (2QFY20): Well positioned. Maintain BUY

Buy: HG Infra Engineering Ltd.

Target

HDFC Securities

HG delivered an inline performance during 2QFY20. About Rs 32bn of orders are expected to move into execution during 3QFY20, leading to a strong pickup in revenue from 4QFY20. The EPC bid pipeline is robust (HG hopes to secure EPC orders of ~Rs20bn and HAM orders of ~Rs10bn during 2HFY20). HG has received FC for its 2 HAM projects from 2 leading banks, highlighting the company's ability to secure funding in a market which values Infra companies with strong execution capabilities as well as strong financial health. We maintain BUY. Key risks (1) Further delay in NHAI ordering activity; (2) Delay in appointed dates for the company's HAM and EPC projects. HG Infra reported Rev/EBIDTA/APAT beat of 1/3/8.5% vs our estimates. Higher EBIDTA margins (+35bps vs estimate), stable interest cost/depreciation resulted in APAT beat. We maintain BUY on HG with SOTP of Rs 441/Sh, valuing the EPC business at 12x FY21E EPS.

HG Infra Engineering.. has an average target of 1344.83 from 6 brokers.

HG Infra Engineering Ltd.

25 Sep 2019

927.50

-1.04%

Infrastructure: Corporate tax cut an earnings booster; HG Infra to gain the most

Buy: HG Infra Engineering Ltd.

Target

BOB Capital Markets Ltd.

The corporate tax reduction announced last week will bump up standalone EPS by 2-13% for our infrastructure universe over FY20-FY22, with HGIEL benefiting the most.

HG Infra Engineering Ltd. has lost -39.96% in the last 1 Year

HG Infra Engineering Ltd.

14 Aug 2019

927.50

-1.04%

H.G. Infra Engineering Ltd: Robust Order Book Aiding Consistent Growth

Buy: HG Infra Engineering Ltd.

Karvy

Robust Order Book Aiding Consistent Growth: HG Infra has reported its Q1FY20 results broadly in line with our estimates. EBITDA margin has expanded by a marginal 21 bps to reach 15.1% for Q1FY20 on account ofhigher turnover (16.9% YoY growth) and lower material expenses (43.2% vs 50.1% as a % of sales).

HG Infra Engineering Ltd. has lost -39.96% in the last 1 Year

HG Infra Engineering Ltd.

13 Aug 2019

927.50

-1.04%

H.G. Infra Engineering (1QFY20): Inline performance. Maintain BUY

Buy: HG Infra Engineering Ltd.

HDFC Securities

HG delivered an inline performance during 1QFY20. The NWC days remained stable at 100 as Rajasthan State project contributed 38%/33days to debtor days. HG expects to realize it soon and revert to 60-65days of NWC. About Rs 23bn of orders will move into execution from 3QFY20-end, leading to a strong pickup in revenue from 2HFY20. The EPC bid pipeline is robust (HG plans to bid for ~Rs 500bn in EPC and selectively in HAM, post FC of 2 HAM). HG has received term sheet for 2 HAM projects and FC will get announced in Sep-19. We maintain BUY. Key risks (1) Slowdown in NHAI ordering; (2) High interest rates; and (3) Delay in appointed dates for HAM. HG Infra reported Rev/EBIDTA/APAT beat of (8)/(6.1)/0.1% vs our estimates. Higher EBIDTA margins (+30bps vs estimate), stable interest cost/depreciation resulted in inline profits. We maintain BUY on HG with SOTP of Rs 462/Sh, valuing the EPC business at 15x FY21E EPS.

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

13 Aug 2019

927.50

-1.04%

HG Infra Engineering (BUY): Revenue miss; expect steady growth momentum ahead

Buy: HG Infra Engineering Ltd.

BOB Capital Markets Ltd.

HG Infra's (HGIEL) Q1FY20 revenue grew 17% YoY to Rs 5.3bn but was below estimates due to delayed AD award for the Hapur-Moradabad project.

Number of FII/FPI investors decreased from 119 to 107 in Jun 2025 qtr

HG Infra Engineering Ltd.

13 Aug 2019

927.50

-1.04%

HG Infra - 1QFY20 Result Update

Buy: HG Infra Engineering Ltd.

Target

Reliance Securities

HG Infra Engineering (HGINFRA) has reported a better-than-expected performance in 1QFY20 despite a marginal misses on revenue front, which grew by 17% YoY to Rs5.26mn (vs. our estimate of Rs5.35bn). While EBITDA grew by ~19% YoY to Rs795mn, EBITDA margin stood at 15.1% (+21bps YoY and -96bps QoQ) vs. our assumption of 15%. Higher-than-estimated margin and lower finance cost led to better-than-estimated 27% YoY growth in PAT to Rs344mn (vs. our estimate of Rs312mn). Having secured orders worth Rs36.5bn in FY19 (EPC components), HGINFRA did not bag any order in 1QFY20 due to slowdown in ordering activities. Order backlog stands at Rs57.1bn (2.7x of TTM revenue) as of 1QFY20-end vs. Rs62.2bn in FY19. Further, gross borrowings...

Number of FII/FPI investors decreased from 119 to 107 in Jun 2025 qtr

HG Infra Engineering Ltd.

30 May 2019, 12:00AM

927.50

-1.04%

First Light: Mahindra & Mahindra, Aurobindo Pharma, HG Infra Engineering

Sell: HG Infra Engineering Ltd.

BOB Capital Markets Ltd.

Mahindra & Mahindra (MM) clocked a 6% YoY rise in Q4FY19 standalone revenue to Rs 140bn, with realisations up 6% despite stagnant volume growth. EBITDA declined 6% YoY to Rs 16.5bn but came in above our estimate, as did margins at 11.7%. Adj. PAT was broadly in line, dipping 9% YoY to Rs 9.3bn. We trim FY20/FY21 earnings estimates by ~2% each to build in softer volumes and also pare our target core P/E multiple from 14x to 12x. Upon rollover to Mar'20, our TP remains at Rs 760....

Number of FII/FPI investors decreased from 119 to 107 in Jun 2025 qtr

HG Infra Engineering Ltd.

27 May 2019

927.50

-1.04%

H.G. Infra Engineering (4QFY19): Marginal miss. Maintain BUY

Buy: HG Infra Engineering Ltd.

Target

HDFC Securities

HG delivered a strong performance during FY19. The focus should now be on debt reduction. There has been a marginal deterioration in NWC days owing to increase in FY19 debtors even as HG expects to realize it soon and revert to 65days of NWC. ~Rs 12/27bn of orders will move into execution from 1QFY20-end/3QFY20 leading to a strong pickup in revenue from 2HFY20. Hapur project's AD is expected to come in the next 15days. The EPC bid pipeline is strong (HG plans to bid for ~Rs 250bn in EPC and selectively in HAM) and it stands to benefit from the upcoming ordering in the roads segment (incl. State projects). We maintain BUY. Key risks (1) Slowdown in NHAI ordering; (2) High interest rates; and (3) Delay in appointed dates for HAM. We maintain BUY on HG with SOTP of Rs 462/Sh, valuing the EPC business at 15x FY21E EPS. We have marginally cut our FY20/21E EPS by 0.7/0.3% to factor in higher interest costs as share of interest bearing mobilization advances increase in the mix.

Number of FII/FPI investors decreased from 119 to 107 in Jun 2025 qtr

HG Infra Engineering Ltd.

27 May 2019

927.50

-1.04%

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.. has an average target of 1344.83 from 6 brokers.

HG Infra Engineering Ltd.

05 Mar 2019

927.50

-1.04%

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. has lost -39.96% in the last 1 Year

Is HG Infra Engineering Ltd. worth buying?

295 Votes:

Buy 86.78%

Sell 5.76%

Hold 7.46%

RESEARCH REPORTS

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