The shares of the leading infrastructure company gained up to 3 percent after the company received a work order from 3 domestic clients worth Rs 284 crores for solar business.
With a market capitalization of Rs 6,057.65 crore, the shares of H.G. Infra Engineering Ltd were trading at Rs 929.50 per share, increasing around 2.18 percent as compared to the previous closing of Rs 909.65 apiece.
According to the company filing, H.G. Infra Engineering Ltd received a work order from 3 domestic clients worth Rs 284 crores. Firstly the Company has entered into EPC contracts with Norangdesar Solar Developer Private Limited and Rasisar Solar Developer Private Limited for the Solar Power Plants worth Rs 36 crore and Rs 28 crore respectively.
Secondly, The company has received another letter of award issued by Jodhpur Vidyut Vitran Nigam Limited to Stockwell Solar Services Private Limited consortium with the company for design, survey, supply, installation, testing, commissioning, operation & maintenance for 25 years in the solar business worth Rs 220 crore.
Looking into H.G. Infra Engineering Ltd, the company’s revenue increased by 15 percent, from Rs 1,185 crore in Q3FY23 to Rs 1,365 crore in Q3FY24. During the same period, net profit increased by 22 percent, from Rs 131 crore to Rs 102 crore.
As of December 30, 2023, the company’s order book is at Rs 96,263 million. In FY 2022-23, the company’s gearing was 0.28x due to an increase in term loans to support a a major investment of H2,874 million.
The company aims to increase its non-road project portfolio to 20-25 percent of its order book during the next 2-3 years.
The company recently received a letter of acceptance from the East Central Railway for an Engineering, Procurement, and Construction (EPC) contract to construct double-line track formation in the DDU Division of the East Central Railway in Bihar, which includes earthwork, blanketing, minor and major bridges, electrification, and other miscellaneous works. The project is priced at Rs. 709.11 crore.
H.G. Infra Engineering Limited (HGIEL) is an Indian road infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as maintenance of roads, bridges, flyovers, and other infrastructure contract works.
Written by:- Abhishek Singh
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