H.G. Infra Engg. Result Analysis 2021-11-08

Report as on 8 November 2021 at 10:36 PM
VERY POSITIVE
RESULTS IN SEP 21
Sales H.G. Infra

Sep 2021 - 782 Cr
Sep 2020 - 483 Cr
Engg.
Operating Profit
Sep 2021 - 151 Cr CMP: 787.35

Sep 2020 - 91 Cr STOCK INFO:
BSE – 541019/ NSE – HGINFRA
Market Cap - Mid Cap (Rs. 5,255 cr)
Sector – Engineering
52 w H/L (Rs.) – 830.8/177.4
Dividend Yield: 0.1%
Debt Equity: 0.4%
Return on Equity: 22.27%
Price to Book: 4.83
Figures in Rs crore; Basis consolidate data as of Sep 2021
www.marketsmojo.com
H.G. Infra Engg.
CMP: 787.35
Report as on 8 November 2021 at 10:36 PM
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ANALYSIS Past Risk Return Analysis

Absolute Risk Volatility
With a growth in Net Profit of 96.86%, the
Adjusted
company declared Very Positive results in Sep 21
-The company has declared positive results for the H.G. Infra Engg. 343.33% 6.89 49.81%
last 3 consecutive quarters SENSEX 44.52% 2.90 15.37%
-PBT LESS OI(Q) At Rs 102.05 cr has Grown at 107.46
% RETURNS SUMMARY (Price + Dividend)
-PAT(Q) At Rs 74.51 cr has Grown at 96.9 % The stock gave a total returns of 343.76% in the last 1 year
-NET SALES(Q) At Rs 781.55 cr has Grown at 61.69 % Outperforming Sensex returns of 44.52%
400%
Stock is technically in a Mildly Bullish range
-Multiple factors for the stock are Bullish like MACD, 200%
Bollinger Band and KST
0%
Majority shareholders : Promoters
-200%
Ja 1 8
O 19
Ja 2 0
O 21
Fe 1 9
Se 0
Au 19
Au 21
Ap 19
M 20
Ju 1 9
D -1 9
1
Fe 1 9
M -2 1
M -2 0
Ju 0
N -2 0
M -2 1
Ju 2 1
Market Beating performance in long term as well
l- 2
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as near term
-Along with generating 343.33% returns in the last 1 H.G. Infra Engineering Ltd MIDCAP
year, the stock has outperformed BSE 500 in the last

3 years, 1 year and 3 months Investors Returns (3 years) –
Period 6M 1Y 2Y 3Y
Stock (%) 177.97% 343.76% 327.53% 252.09%
Sector (%) 52.67% 52.67% 93.14% 70.81%
Sensex 23.04% 44.52% 50.15% 71.82%
(%)
MOJO PROFESSIONAL 1
H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM
BEFORE PROCEEDING AHEAD

This Real-Time Stock Analysis service is only for
Registered members of www.marketsmojo.com
This Real-Time Stock Analysis Report was

generated on 8th November, 2021 at 10:36 PM,
and may not be valid if you are reading it later.
Some factors/ data may have changed after the

report was generated.
To access the LATEST version of this report.
Click Here
MOJO PROFESSIONAL 2
This research report has been created by www.marketsmojo.com exclusively for absaj87@gmail.com. You may not copy, reproduce, distribute, publish, display,
perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property rights and
a violation of law and it may also result in cancellation of your subscription package without any refund and may lead to legal action.
FINANCIAL TREND
Positive
WITH A GROWTH IN NET PROFIT

results for
OF 96.86%, THE COMPANY 3

DECLARED VERY POSITIVE consecutive
quarters
RESULTS IN SEP 21
Near term PBT trend is very 139.24

129.81
107.5% positive 102.05
PBT less Other Income (Rs Cr) 85.38

PBT Growth At Rs 102.05 cr has Grown at 107.46 %
49.19
Year on Year (YoY)
Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
Near term PAT trend is very

positive
96.9% 111.11
101.02
PAT (Rs Cr) 74.51

PAT Growth At Rs 74.51 cr has Grown at 96.9 % 67.76
Year on Year (YoY) 37.85
Near term sales trend is very

61.7% positive 1 056.29
941.4
Net Sales (Rs Cr) 750.74 781.55
Sales Growth At Rs 781.55 cr has Grown at 61.69 %
483.35
Year on Year (YoY)
Sep'21 Sep'20 Change%

Net Sales 781.6 483.4 61.7%
Key Operating Profit (PBDIT) excl Other Income 151.2 90.7 66.7%
Result Interest 27.8 20.7 34.7%
Highlights Exceptional Items 0.0 0.0
Consolidated Net Profit 74.5 37.9 96.9%
Operating Profit Margin (Excl OI) 19.3 18.8 0.6%
Consolidate- figures in Rs
Cr
MOJO PROFESSIONAL 3
TECHNICALS
STOCK IS TECHNICALLY IN A MILDLY

BULLISH RANGE
Mildly Bullish Daily Moving Averages indicating near term price strength
Current Price 50 Day Moving Average 200 Day Moving Average
787.35 667.32 437.57
Factors with upward momentum

Indicator Technical Trend
MACD Bullish (weekly)
MACD Bullish (monthly)
Bollinger Band Bullish (weekly)
Bollinger Band Bullish (monthly)
KST Bullish (monthly)
Consistent Returns over the last 3 years

3 Months 1 Year 3 Years
343.33%
37.72%
251.50%
11.01% 74.10%
54.90%
Stock BSE 500 Stock BSE 500 Stock BSE 500
MOJO PROFESSIONAL 4
RETURNS
MARKET BEATING PERFORMANCE IN

LONG TERM AS WELL AS NEAR TERM
Along with generating 400%
343.33% returns in the last
1 year, the stock has 200%
343.33% outperformed BSE 500 in

the last 3 years, 1 year 0%
UP and 3 months -200%
Ja 1 8
O 19
Ja 2 0
O 21
Fe 1 9
Se -2 0
Au 19
Au 21
Ap 19
M 20
Ju 1 9
D -1 9
1
Fe 1 9
M -2 1
M -2 0
Ju 0
M -2 1
N -2 0
Ju 2 1
-2
-2
-
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H.G. Infra Engineering Ltd BSE500
Inconsistent Performance against Mid Cap

companies
H.G. Infra Engineering Ltd has not been a
consistent performer in the YTD
1st
Quartile
4th
Quartile
1st
Quartile
Stock has been in the 4th quartile in 2020
and in 1st in YTD period
YTD 2020 2019

266.21% -17.28% 25.56%
Company 1 Month 3 Month 1 Year 3 Years

H.G. Infra Engg. 13.29% 37.72% 343.33% 251.5%
Return
Tube Investments 23.79% 43.12% 144.46% 462.2%
Comparison
AIA Engineering 1.7% -2.49% 10.13% 11.37%
with Peers
Closest peers by PNC Infratech -6.13% 11.55% 105.32% 139.68%
market cap Rail Vikas 27.14% 32.72% 113.28% -
MOJO PROFESSIONAL 5
QUARTERLY VARIANCE
QUARTER RESULTS VARIANCE ANALYSIS

Sep'21 Jun'21 QoQ Sep'20 YoY Comments
Total Operating income 782 941 -17% 483 61.7%
Total Expenditure (Excl Depreciation) 630 765 -17.7% 393 60.6%
Operating Profit (PBDIT) excl Other Income 151 176 -14.1% 91 66.7%
Other Income 5 3 49% 1 232.9% High Growth in previous quarter
and same quarter last year
Operating Profit (PBDIT) 156 179 -12.9% 92 69.4%
Interest 28 26 7.9% 21 34.7% High Growth in previous quarter
and same quarter last year
Exceptional Items 0 0 0% 0 0%
Depreciation 21 20 4.8% 21 2.1% QoQ and YoY increase
Profit Before Tax 107 133 -19.6% 51 111.2%
Tax 33 32 1.2% 13 153.3% QoQ and YoY increase
Provisions and contingencies 0 0 0% 0 0%
Net Profit 75 101 -26.2% 38 96.9%
Share in Profit of Associates 0 0 0% 0 0%
Minority Interest 0 0 0% 0 0%
Other related items 0 0 0% 0 0%
Consolidated Net Profit 75 101 -26.2% 38 96.9%
Consolidate results triggered in Rs Cr
Margins
Sep'21 Jun'21 Mar'21 Dec'20 Sep'20 Avg. (4 Comments
Qtrs)
OPM 19.3% 18.7% 18.2% 17.5% 18.8% 18.3% Higher than average (4 Qtrs) – Promising
GPM 16.4% 16.3% 16.0% 14.7% 14.8% 15.5% In line with average (4 Qtrs)
NPM 9.5% 10.7% 10.5% 9.0% 7.8% 9.5% In line with average (4 Qtrs)
MOJO PROFESSIONAL 6
ANNUAL RESULT
NET SALES - YOY GROWTH IN YEAR ENDED

MAR 2021 IS 17.37% VS 10.06% IN MAR
2020
Consolidated Net Profit: YoY Growth in year ended Mar 2021 is 42.04% vs 30.84% in Mar
2020
Operating Profit (PBDIT) excl Other Income: YoY Growth in year ended Mar 2021 is
33.97% vs 16.59% in Mar 2020
Interest: YoY Growth in year ended Mar 2021 is 57.54% vs 21.90% in Mar 2020 17.37%
Operating Profit Margin (Excl OI): YoY Growth in year ended Mar 2021 has improved from NET SALES
Mar 2020
Mar'21 Mar'20 Change(%)

Net Sales 2,602.25 2,217.07 17.37%
Key Operating Profit (PBDIT) excl Other Income 475.73 355.10 33.97%
Annual Interest 94.16 59.77 57.54%
Results Exceptional Items 0.00 0.00
Consolidated Net Profit 236.65 166.61 42.04%
Operating Profit Margin (Excl OI) 18.28 16.02 2.26%
Figures in Rs Cr | Seasonal companies are compared with the same quarter last year
Net Sales-YoY Growth in year ended Mar 2021 is 17.37% vs Consolidated Net Profit-YoY Growth in year ended Mar 2021
10.06% in Mar 2020 is 42.04% vs 30.84% in Mar 2020
4000 400
2,602.25 236.65
2,014.50 2,217.07
2000 200 166.61
1,392.73 127.34
1,056.03 84.26
53.42
0 0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Mar 2021 is 33.97% vs 16.59% in Mar 2020 Mar 2021 has improved from Mar 2020
475.73 18.28
500 20
14.94 15.12 16.02
355.10
304.58 11.78
250 208.07 10
124.44
0 0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Figures in Rs Crore
MOJO PROFESSIONAL 7
BALANCESHEET AND CASHFLOW
BALANCE SHEET AND CASH FLOW

ANALYSIS
101.95% Borrowings
Mar'21
1,246.29
Mar'20
617.13
Change%
101.95%
Increase
Other Long Term Liabilities 0.11 0.69 -84.06%
Fixed Assets 484.38 490.46 -1.24%
Investments 0.00 0.00
in Borrowings in quarter Current Assets 1,746.65 1,588.85 9.93%
ended Mar 2021 vs in
Figures in Rs Cr
Mar 2020
Other Long Term Liabilities: YoY Growth in year ended Mar 2021 is -84.06% vs in Mar 2020
Fixed Assets: YoY Growth in year ended Mar 2021 is -1.24% vs 6.12% in Mar 2020
Investments: YoY Growth in year ended Mar 2021 is vs -100.00% in Mar 2020
Current Assets: YoY Growth in year ended Mar 2021 is 9.93% vs 47.75% in Mar 2020
Cash From Operation - YoY Growth in year ended Mar

97.62% 2021 is 97.62% vs -45.55% in Mar 2020
Mar'21 Mar'20 Change%
GROWTH Cash Flow from Operating Activities 70.55 35.70 97.62%
Figures in Rs Cr
75 70.55
64.39 65.57
50
35.70
25
-7.78
-25
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
MOJO PROFESSIONAL 8
SHAREHOLDING
MAJORITY SHAREHOLDERS : PROMOTERS
Majority shareholders: Promoters

Pledged Promoter Holdings: None Mutual Funds
13.06%
Mutual Funds: Held in 10.00 Schemes (13.06%) FIIs
2.16%
FIIs: Held by 33 FIIs (2.16%)
Non Institution
Promoter with highest holding: Harendra Singh Family Trust Promoters
8.66%
(24.85%) 74.53% Other DIIs
1.59%
Highest Public shareholder: Nippon Life India Trustee Ltd-a/c
Nippon India Small Cap Fund (4.76%)
Individual Investors Holdings: 6.28%
Promoter holding-Promoter holding has decreased by -0%. FII Holdings-FII holding has increased by 1.69%
However, the number of shares held by the Promoters has
4%
remained constant during the period
100% 2.16%
74.04% 74.04% 74.53% 74.53% 74.53% 2%
0.50% 0.40% 0.47%

50% 0.12%
0%
0.00% 0.00% 0.00% 0.00% 0.00%
0%
MF Holdings-MF holding has decreased by -0.31% Other DII Holdings-Other DII holding has increased by 0.05%
20% 2%
16.61% 16.01% 1.59%
14.31% 1.53% 1.54%
13.37% 13.06%
1.01%
10% 1% 0.81%
0% 0%
Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
Figures in Rs Crore
MOJO PROFESSIONAL 9
PEER COMPARISION
PEER COMPARISON
H.G. Infra Engg. Craftsman Auto MTAR Ircon Intl. Engineers India
Technologie
Size
Market Cap (Cr.) 5,131 5,463 5,600 4,543 4,050
Annual Sales (TTM) (Cr.) 3,232 1,546 246 5,955 3,416
Annual Net Profit (TTM) (Cr.) 318 97 46 446 309
Growth Factors (TTM)
Net Sales Growth 1 year 61.9% - 0.2% 22.8% 15.1%
Operating Profit Growth 1 year 98.6% 22% 54% 12.6% 32%
Net Profit Growth 1 year 113.8% 138% 47% 18.8% -10.6%
Net Sales Growth 5 year 28.8% -7.6% 25.1% 8.1% 13.8%
Operating Profit Growth 5 year 44.4% -2.9% 51% -6.9% 0.8%
Net Profit Growth 5 year 50.8% 1.4% 45.3% 2.5% -12.8%
Capital Structure Factors
EBIT to Interest 5 2.3 10.1 15.3 116.3
Debt to EBITDA 1.5 1.9 0.1 0.6 0
Net Debt to Equity 0.4 0.8 -0.4 -0.7 -0.9
Sales to Capital Employed 1.7 0.9 0.8 4.2 13.9
Management Quality Factors
ROCE (latest) 26.3% 13.2% 23.7% 31.9% 144.3%
ROE(latest) 22.3% - 9.7% 8.9% 20.2%
Tax Ratio 24.2% - 28.9% 31.8% 26.3%
Operating CF to Net Profit 29.8% - 18.7% 132.5% 48.5%
Dividend Payout Ratio - - - 46% 76.8%
Valuation Factors
PE Ratio 16.1 56.5 121.5 10.2 13.1
Price to Book 4.8 5.2 11.7 1 2.3
PEG Ratio 0.1 - - 0.5 13.1
Dividend Yield 0.1% - 0.2% 11.2% 2.8%
EV to EBITDA 9.4 14.4 65.2 2.6 5.8
EV to Capital Employed 3.7 3.4 18.2 1.1 11.2
Shareholding
Promoter Holdings 74.5% 59.8% 50.3% 73.2% 51.3%
Promoter Pledged Holdings - - - - -
Total Institutional Holding 16.8% 18.1% 24.9% 3.1% 18.8%
FII Holdings 2.2% 3.7% 1.9% 2.3% 6%
Returns
1 Month 13.3% 18.3% 12.6% 4.3% -7.6%
3 Months 37.7% 29.7% 32.1% 9.5% -2.6%
YTD 266.2% - - 10.6% -8%
1 Year 343.3% - - 23.9% 7.1%
3 Years 251.5% - - 29.6% -39.7%
MOJO PROFESSIONAL 10
COMPANY BACKGROUND
COMPANY BACKGROUND
About the Company

H.G. Infra Engineering Limited is a leading player in the roads & highways space
INDUSTRY : with an execution track record of over 15 years. HG provides engineering,
Engineering procurement and construction (EPC) services on a fixed-sum turnkey basis and
undertakes civil construction and related infrastructure projects in the road
construction space. The company has presence in Raiasthan, Uttar Pradesh,
5,255 cr (Mid Cap) Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh.
Board of Directors
Harendra Singh Chairman & Managing Director
Vijendra Singh Whole-time Director
Ashok Kumar Thakur Independent Director
Pooja Hemant Goyal Independent Director
Onkar Singh Independent Director
2 more board of directors
Company Coordinates
Company Details: Registrat Details:

14, Panchwati Colonyratanada, Jodhpur Jodhpur Rajasthan : Link Intime India Pvt Ltd, C-13 Pannalal Silk Compound, L B S
342001 Marg, Bhandup , Mumbai
Tel: 029-12515327 Fax: 91-022-25946979/91-022-25960329
Email: hginfrajdr@gmail.com Email: helpdesk@linkintime.co.in
Website: www.hginfra.com
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Report as on 8 November 2021 at 10:36 PM

Figures in Rs crore; Basis consolidate data as of Sep 2021

ANALYSIS Past Risk Return Analysis

year, the stock has outperformed BSE 500 in the last

BEFORE PROCEEDING AHEAD

This Real-Time Stock Analysis Report was

Some factors/ data may have changed after the

To access the LATEST version of this report.

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

WITH A GROWTH IN NET PROFIT

OF 96.86%, THE COMPANY 3

Near term PBT trend is very 139.24

107.5% positive 102.05

PBT less Other Income (Rs Cr) 85.38

Near term PAT trend is very

PAT (Rs Cr) 74.51

Year on Year (YoY) 37.85

Near term sales trend is very

Sep'21 Sep'20 Change%

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

STOCK IS TECHNICALLY IN A MILDLY

787.35 667.32 437.57

Factors with upward momentum

Consistent Returns over the last 3 years

Stock BSE 500 Stock BSE 500 Stock BSE 500

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

MARKET BEATING PERFORMANCE IN

343.33% outperformed BSE 500 in

UP and 3 months -200%

Inconsistent Performance against Mid Cap

YTD 2020 2019

Company 1 Month 3 Month 1 Year 3 Years

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

QUARTER RESULTS VARIANCE ANALYSIS

Consolidate results triggered in Rs Cr

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

NET SALES - YOY GROWTH IN YEAR ENDED

Mar'21 Mar'20 Change(%)

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

BALANCESHEET AND CASHFLOW

BALANCE SHEET AND CASH FLOW

Cash From Operation - YoY Growth in year ended Mar

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

MAJORITY SHAREHOLDERS : PROMOTERS

Majority shareholders: Promoters

0.50% 0.40% 0.47%

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

About the Company

Vijendra Singh Whole-time Director

Ashok Kumar Thakur Independent Director

Pooja Hemant Goyal Independent Director

Onkar Singh Independent Director

2 more board of directors

Company Details: Registrat Details:

H.G. Infra Engg. Report as on 8 November 2021 at 10:36 PM

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