H.G. Infra Engineering share price today

H.G. Infra Engineering Ltd's share price was ₹402.10 at the close on 5 November 2026. It has been falling for 89 weeks. That is 29.0% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹380 and ₹904, and at that close it sat 4% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today H.G. Infra Engineering Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 22 weeks running.

Over the last 8.7 years the share price moved +50% while the NIFTY 500 moved +139%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 19 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) cut their stake for 8 quarters in a row, best operating margin in 15 quarters and revenue fell in the June 2026 quarter.

1. Indian funds and insurers (DIIs) cut their stake for 8 quarters in a row

   From 12.7% to 9.7% of the company by the September 2026 quarter.

2. Best operating margin in 15 quarters

   Operating margin was 28% in the June 2026 quarter, against 18% a year earlier.

   Why: The margin jumped because the company billed solar power to state electricity buyers, and that work cost very little to run.

   Next results: check whether the energy projects start adding steady money.

   From the earnings call on 14 Aug 2026.

3. Revenue fell in the June 2026 quarter

   Revenue was ₹1,101 crore, -25.7% on a year earlier (₹1,482 crore), after 3 quarters of growth.

   Why: Revenue fell because work slowed across roads, energy and rail/metro projects.

   Next results: check whether rain and supply problems still slow work.

   From the earnings call on 14 Aug 2026.

For July to September 2026 (the quarter ended 30 September 2026), H.G. Infra Engineering reported revenue of ₹974 crore, up 7.7% from ₹904 crore a year earlier, and a profit of ₹80.0 crore, up 53.8% from ₹52.0 crore.

H.G. Infra Engineering results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 14 August 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

H.G. Infra Engineering closed at ₹402.10 on 5 November 2026, down 55.5% from ₹904.40 a year earlier (7 November 2025) and down 48.8% over five years. Its highest weekly close since March 2018 was ₹1,763.35 on 28 June 2024.

H.G. Infra Engineering share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

456 weekly closes from 9 March 2018 to 5 November 2026.

5 Nov 2026: H.G. Infra Engineering closed at ₹402.10, up 5.9% on the week and up 0.1% on the month. Results for July to September 2026: Revenue up 7.7% and profit up 53.8% on a year earlier.

Earlier

• 14 Aug 2026: H.G. Infra Engineering held its results call for April to June 2026. Management guided: FY27 revenue ₹6,000-6,500 crore, Q2 around ₹1,000 crore, with next three quarters including highways around ₹3,000 crore, BESS around ₹600 crore and rail ₹2,000-2,500 crore; FY28 around ₹7,000 crore.
• 12 Aug 2026: ex-date for a dividend of ₹2 a share.

H.G. Infra Engineering paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.50% at the ₹402.10 close on 5 November 2026. The last was a dividend of ₹2 a share, ex-date 12 August 2026.

H.G. Infra Engineering dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. H.G. Infra Engineering Ltd paid out 4% of its profit as dividends in FY26, and it paid a dividend in 8 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 14 August 2026, H.G. Infra Engineering's management guided: FY27 revenue ₹6,000-6,500 crore, Q2 around ₹1,000 crore, with next three quarters including highways around ₹3,000 crore, BESS around ₹600 crore and rail ₹2,000-2,500 crore; FY28 around ₹7,000 crore.

“We remain confident that the upcoming quarters, particularly the period after the monsoon and especially the latter half of FY27, will be much more promising, with improved execution and a meaningful recovery in our performance.”Harendra Singh, Chairman & Managing Director, on the call for April to June 2026

What management guided

• FY27 operating margin 13.5%-14%, with FY28 at a similar level.
• FY27 order inflows ₹11,000-12,000 crore.
• Cash conversion goals: standalone gross debt ₹900 crore and consolidated working capital around 50 days by FY27-end; HAM monetization and related receipts approximately ₹850 crore, other operational receipts above ₹300 crore, and settlements around ₹100 crore in September / ₹200 crore by year-end.
• Remaining equity funding totals ₹583 crore in FY27, ₹625 crore in FY28 and ₹146 crore in FY29 across HAM, BESS and transmission.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 14 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When H.G. Infra Engineering reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Q2 revenue and operating margin against management's FY27 path; test whether monsoon and supply disruptions remain material.

H.G. Infra Engineering is on one of our India lists: 52 week high & low.

H.G. Infra Engineering Ltd earned ₹80.0 Cr of net profit in the Sep 2026 quarter, +53.8% on the same quarter a year earlier. Full-year FY26 profit was ₹330 Cr. Over 10 years profit has grown 27.1% a year on average. That is 8.2% of the quarter's revenue. The same quarter a year earlier earned ₹52.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹330 Cr (−34.7% on the year before).

Why profit moved: revenue changed +7.7% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −38.0% and revenue −0.2%. Profit is growing slower than sales: rising costs are taking part of the growth.

H.G. Infra Engineering Ltd reported ₹974 Cr of revenue in the Sep 2026 quarter, +7.7% on the same quarter a year earlier. Over 10 years it has grown 21.6% a year on average. The last full year, FY26, came in at ₹5,235 Cr. The last four reported quarters add to ₹4,923 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹5,235 Cr, +3.5% on the year before.

Recent pace: the last four quarters grew −0.2% on average, against 21.6% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −1.8%, against −5.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −48.2%, against −36.8% a year (rolling over).

H.G. Infra Engineering Ltd's operating margin was 26.0% in the Sep 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 11.0% and 21.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +2.9 percentage points on the year while gross margin changed +2.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years H.G. Infra Engineering Ltd's operations used more cash than they brought in, so cash conversion was −68%, a gap worth watching. In FY26 it brought in ₹250 Cr of operating cash against ₹330 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹971 Cr of spending on assets, free cash was −₹721 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −68% of profit came in as cash: the cash cycle got 176 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 6.1× depreciation over three years. The next section checks what that spending is building.

H.G. Infra Engineering Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −171 days in FY26, down from 5 days in FY21. It spent ₹2,783 Cr on assets over the last 3 years. Customers take 55 days to pay, and stock sits for 73 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹5,235 Cr, each day of that cycle ties up about ₹14.3 Cr, so roughly −₹2,453 Cr is tied up in the business at any time.

FY26: customers took 55 days to pay and stock sat for 73 days, about 2.4 months of sales sitting as stock, for a full cycle of −171 days, shorter than FY21's 5.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 73 days. Customers pay about 55 days after that. Suppliers are paid at 299 days. Together that makes the −171-day cycle.

Spending on assets: ₹2,783 Cr over the last 3 years, against ₹453 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹740 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

H.G. Infra Engineering Ltd's P/E is 9.1×, near the low end of its own history: it has been lower only 16% of the time. Its usual P/E (the middle reading) is 11.3×, over 8.7 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹32.74.

Why the multiple is where it is: over the past year earnings per share moved −34.6% while the price moved −55.5%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved −12.5% a year; about −2.0% a year came from earnings growth and about −10.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

H.G. Infra Engineering Ltd's business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −1.8% in the latest quarter, against +25.0% at its best in 12 quarters, with ROCE steady at 12.7%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

H.G. Infra Engineering Ltd earned a ROCE of 11% in FY26. Its return on capital used (ROIC) is 5.2 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 6.3% net margin and 0.48× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 6.3% net margin × 0.48× asset turnover × 3.32× leverage (assets divided by equity) ≈ 10.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 6.8% − 12.0% = −5.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 6.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 8.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.