Shares of one of the leading construction company gained 4 percent to Rs 975.80 apiece on Wednesday trade following the company’s strong June quarter financial results.
HG Infra Engineering Ltd shares were trading at Rs 948.85 a share on the National stock exchange at 2:09 p.m., up Rs 15.35 or 1.64 percent.
As per company’s exchange filing,Company reported a 22 percent increase in sales to Rs 1,351 crore in Q1FY24 compared to Rs 1,105 crore in the previous year corresponding period(Q1FY23).Furthermore, its net profit climbed by 37 percent to Rs 150 crore in Q1FY24 from Rs 109 crore in Q1FY23.
The stock has increased 44 percent in the previous six months from Rs 661.30 to current levels, and 65.90 percent in the last year from Rs 576.85 to current values.
H.G. Infra Engineering Limited (HGIEL) is in the engineering field, delivering Procurement and Construction Services, along with maintenance of roads, bridges, flyovers, and other infrastructure contract works. The company works in 12 Indian states.
The company’s margins are steadily improving, with a net profit margin at 10.64 percent and an operating margin at 17.68 percent and the company has a debt to equity ratio of 0.99.
The firm reported EPS of Rs 23.08 for the fiscal year ended June 30, 2023, compared to Rs 16.79 for the fiscal year ended June 30, 2022.
According to the current shareholding pattern, the promoters hold a 74.53 percent stake, and Domestic institutional investors hold a 13.14 percent stake in the company.
Written by Omkar Chitnis
