NSE: HGINFRA | BSE: 541019

Weak Stock

Download real time

960.85 31.05 (3.34%)

New 52W Low today

102.1K NSE+BSE Volume

NSE 01 Oct, 2025 3:31 PM (IST)

6,262

Market Cap

High in industry

1.4

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.

HG Infra Engineering Ltd.

04 Feb 2019

960.85

3.34%

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.

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

HG Infra Engineering Ltd.

05 Nov 2018

960.85

3.34%

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. is trading below all available SMAs

HG Infra Engineering Ltd.

25 Sep 2018

960.85

3.34%

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 Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

04 Sep 2018

960.85

3.34%

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 -38.12% in the last 1 Year

HG Infra Engineering Ltd.

01 Aug 2018, 12:00AM

960.85

3.34%

H.G. Infra Engg - 1QFY19 Result Update

Buy: HG Infra Engineering Ltd.

Target

Reliance Securities

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

25 May 2018

960.85

3.34%

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...

HG Infra Engineering Ltd. has lost -38.12% in the last 1 Year

HG Infra Engineering Ltd.

26 Feb 2018

960.85

3.34%

HG Infra Engineering Limited

IPO Avoid: HG Infra Engineering Ltd.

SMC online

The Offer comprises a Fresh Issue of 300 Cr and an Offer for Sale of up to 6,000,000 Equity Shares. Incorporated in 2003, H.G. Infra Engineering Ltd (HGIEL) is an infrastructure construction, development and management company with extensive experience in its focus area of road projects, including highways, bridges and flyovers. The Company's main business operations include providing EPC services on a fixed-sum turnkey basis and undertaking civil construction and related infrastructure projects. HGIEL is also engaged in executing...

HG Infra Engineering Ltd. has lost -38.12% in the last 1 Year

HG Infra Engineering Ltd.

22 Feb 2018

960.85

3.34%

IPO Note - H.G. Infra Engineering Limited

IPO Note: HG Infra Engineering Ltd.

HDFC Securities

IPO Note - H.G. Infra Engineering Limited Issue Open: Feb 26 - Feb 28, 2017, Price Band: Rs 263 - 270, Issue Size: 17,111,111 Equity Shares * ( Including Fresh issue of *11,111,111 eq,sh + Offer for sale of 6,000,000 eq sh )

HG Infra Engineering Ltd. is trading below all available SMAs

HG Infra Engineering Ltd.

22 Feb 2018

960.85

3.34%

HG Infra Engineering- IPO

IPO Note: HG Infra Engineering Ltd.

ICICI Securities Limited

HG Infra Engineering (HGIEL) is an infrastructure construction company focused on road projects. Its core business operations include providing EPC services on fixed-sum turnkey basis. HGIEL has executed projects in six states across Rajasthan, UP, Maharashtra, etc. It reported robust revenue, PAT CAGR of 31.6%, 38.3% in FY13-17 to | 970 crore, | 49.3 crore, respectively. IPO consists of fresh issue of 1.1 crore equity shares worth ~| 300 crore (at higher end of price band of | 270) & offer for sale...

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

Is HG Infra Engineering Ltd. worth buying?

295 Votes:

Buy 86.78%

Sell 5.76%

Hold 7.46%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf