As of Mar 28, 2026, Hazoor Multi Projects Ltd (Infra - Construction & Contracting) has a deep value score of 34/100 (rated Weak).
Deep value thesis based on recent earnings • Updated Mar 7, 2026
HMPL is showing early signs of a turnaround with robust standalone revenue growth, strategic debt reduction through equity infusion, and significant PAT recovery in consolidated operations, though margin pressures and working capital issues remain concerning.
Verdict
EARLY_INNINGS
Re-rating catalysts over the next 2-4 quarters • Updated Mar 7, 2026
₹277 crore in new orders should boost revenue visibility and cash flow generation.
Impact: +₹277 Cr revenue
“Two new contracts from NHAI for toll collection in Maharashtra and Tamil Nadu.”
Full impact of ₹42.55 crore equity infusion should reduce interest costs by ~₹15-20 lakhs quarterly.
“Issued 364 crore shares to 38 non-promoter investors, generating ₹42.55 crore after warrant conversion.”
54.84% YoY revenue growth in 9M FY26 should drive OPM improvement from current ~7.5%.
“Standalone revenue growth of 54.84% YoY in 9M FY26 to ₹25,919.86 lakhs.”
Risks that could prevent re-rating or deepen the value trap
If DSO increases beyond 120 days
Impact: -300 bps margin impact
Management view: Management has not addressed working capital concerns in recent communications.
Monitor: DSO and inventory turnover ratios
If consolidated revenue continues declining for 2 more quarters
Impact: -200 bps margin impact
Management view: Management indicated strategic refocusing on core infrastructure business.
Monitor: Consolidated vs standalone revenue divergence
If promoter pledge increases above 25%
Impact: -150 bps margin impact
Management view: No recent disclosures on promoter pledge status.
Monitor: SEBI filings for pledge changes
Forward-looking targets from management for FY27
Revenue Growth Target
25%
Implied PAT Growth
40%
OPM Guidance
10%
Capex Plan
₹50 Cr
Credit Growth Target
15%
NIM Guidance
0%
Key Milestones
• NHAI contract execution by Q4 FY26
• Debt-to-equity conversion completion by Q1 FY27
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | -16% | +78% | Stable |
| PAT (Net Profit) | +138% | +80% | Inflection Up |
| OPM | 21.1% | +1507 bps | Volatile |
The above analysis is AI-generated from publicly available financial data. This is educational research only — not investment advice. Last updated Mar 7, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Hazoor Multi Projects Ltd has a deep value score of 34/100 (rated Weak). This score is calculated from three components
Hazoor Multi Projects Ltd's quarterly profit (PAT) growth trajectory
Hazoor Multi Projects Ltd is underperforming the market despite improving earnings — this is the core deep value thesis
Hazoor Multi Projects Ltd's earnings momentum is Monitoring.
Hazoor Multi Projects Ltd's valuation metrics
Hazoor Multi Projects Ltd's revenue and margin trends
Hazoor Multi Projects Ltd's trailing twelve month (TTM) performance
Hazoor Multi Projects Ltd key facts
Hazoor Multi Projects Ltd shows limited deep value signals currently — score is 34/100 (Weak). Monitor for improvement.
Deep value investing studies stocks that are underperforming the market despite showing improving fundamentals. The thesis is that the market has not yet recognized the earnings recovery, creating a potential valuation gap. It requires patience — recovery can take several quarters.
The deep value score (0-100) combines three factors:
- Earnings (0-40 pts): PAT growth across last 3 quarters, acceleration, and consecutive growth - Underperformance (0-35 pts): How much the stock trails Nifty 500 over 1Y, 6M, 3M (deeper underperformance = higher score) - Quality (0-25 pts): Revenue growth, margin trends, and valuation metrics (PEG, P/B)
Higher score indicates a stronger contrarian research signal.
Hazoor Multi Projects Ltd has 3 key growth catalysts identified from recent earnings analysis
Hazoor Multi Projects Ltd has 3 key risks worth monitoring
The above FAQs are generated from publicly available earnings data. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
