Engineering stock bagged an order from North Central Railway for 677 crore project

Shares of HG Infra Engineering Ltd closed at the price of Rs 947, on Wednesday’s trading session as compared to the previous closing price of Rs 944.55, with a market capitalization of Rs 6,159 crores. 

According to the company’s filings with the exchange, Company received an order from North Central Railway. For the Redevelopment of Kanpur Central Railway Station in the state of Uttar Pradesh, For an estimated project cost of Rs 677.31 crore.

H.G. Infra Engineering Limited (HGIEL) is engaged in the business of engineering such as Procurement and Construction Services, Maintenance of roads, bridges, flyovers, and other infrastructure contract works. The company has a presence in 12 Indian states.

The company’s net profit improved by 65% in Q4FY23 to Rs 170 crore from Rs 103 crore in Q4FY22. Furthermore, revenue from operations climbed by 44% to Rs 1,535  crore from Rs 1,064 crore in the previous year’s equivalent period.

On a YoY comparison of the metrics, the revenues significantly improved from  Rs 3,751 crores during FY 21-22 to Rs 4,622 crores in FY 22-23. For the same time period, The Net profit shifted upwards, from Rs 380 crores to  Rs 492 crores.

In the past three months, the stock gained 23.04  percent from Rs 769.65  to current levels, and in the last six months, the stock gained 62.39 percent from Rs 583.15 to current levels. 

According to the latest data pertaining to the shareholding pattern, the promoters hold a  74.53 percent stake, and Domestic institutional investors (DIIs) hold a 14.01 percent stake in the company for FY 22-23.

Written by Omkar C

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