# H.G. Infra Engineering share price today (H.G. Infra Engineering Ltd, NSE: HGINFRA)

> H.G. Infra Engineering share price today: ₹389.40 at the NSE close on 3 November 2026, down 57.8% in a year. H.G. Infra Engineering (NSE: HGINFRA) is worth ₹2,535 crore, trades at a P/E of 9.8 and has closed between ₹379.65 and ₹904.40 over the past 52 weeks. > H.G. Infra Engineering Ltd's P/E is near the low end of its own history, higher than only 24% of past readings, and its quarterly results are still getting worse. HGINFRA · Infra - Construction & Contracting · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/hg-infra-engineering-ltd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹389.40 (−57.8% in a year)
- P/E: 9.8× (lower than 76% of the last 8.6 years)
- Revenue (Jun 2026): ₹1,101 Cr (−25.7% on a year ago)
- Profit (Jun 2026): −₹45.0 Cr (−145.5% on a year ago)
- Operating margin: 28.0% (+10.0 points on a year ago)
- ROCE: 11%, FY26
- ROIC: 6.8%, against a 12.0% cost of capital: −5.2 points

The main question: the P/E is near the low end of its own history, higher than only 24% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. ## What is the H.G. Infra Engineering share price today? H.G. Infra Engineering Ltd's share price was ₹389.40 at the close on 3 November 2026. It has been falling for 89 weeks. That is 32.1% 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 2% of the way up from that low. 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 +45% 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. ## What changed at H.G. Infra Engineering this quarter? 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. ## What are H.G. Infra Engineering's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), H.G. Infra Engineering reported revenue of ₹1,101 crore, down 25.7% from ₹1,482 crore a year earlier, and a loss of ₹45.0 crore, down 145.5% from ₹99.0 crore. ### H.G. Infra Engineering results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,101 crore | ₹1,482 crore | −25.7% |
| Profit | loss of ₹45.0 crore | ₹99.0 crore | −145.5% |
| Earnings per share | ₹−6.93 | ₹15.16 | −145.7% |
| Operating margin | 28.0% | 18.0% | +10.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). H.G. Infra Engineering's management discussed these results on a call held on 14 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the H.G. Infra Engineering share price history? H.G. Infra Engineering closed at ₹389.40 on 3 November 2026, down 57.8% from ₹922.30 a year earlier (31 October 2025) and down 50.4% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹381.00 | +2.2% |
| 1 month ago · 1 Oct 2026 | ₹419.90 | −7.3% |
| 6 months ago · 30 Apr 2026 | ₹595.00 | −34.6% |
| 1 year ago · 31 Oct 2025 | ₹922.30 | −57.8% |
| 3 years ago · 3 Nov 2023 | ₹921.45 | −57.7% |
| 5 years ago · 4 Nov 2021 | ₹785.40 | −50.4% |
| Earliest weekly close in our records · 9 Mar 2018 | ₹267.75 | +45.4% |
| Highest weekly close since March 2018 · 28 Jun 2024 | ₹1,763.35 | −77.9% |
| Lowest weekly close since March 2018 · 27 Mar 2020 | ₹157.30 | +147.6% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹904.40 | −56.9% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹379.65 | +2.6% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (456 weekly closes from 9 March 2018 to 3 November 2026.)

## What is the latest news on H.G. Infra Engineering? 3 Nov 2026: H.G. Infra Engineering closed at ₹389.40, up 2.2% on the week and down 7.3% on the month. 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. ### Earlier

- 12 Aug 2026: ex-date for a dividend of ₹2 a share. - Results for April to June 2026: Revenue down 25.7% and profit down 145.5% on a year earlier. ## What dividend does H.G. Infra Engineering pay? H.G. Infra Engineering paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.51% at the ₹389.40 close on 3 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

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 12 Aug 2026 | ₹2 | Dividend | same day |
| 12 Aug 2025 | ₹2 | Dividend | same day |
| 14 Aug 2024 | ₹1.50 | Dividend | same day |
| 14 Aug 2023 | ₹1.25 | Dividend | same day |
| 21 Jul 2022 | ₹1 | Dividend | 22 Jul 2022 |
| 27 Aug 2021 | ₹0.80 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did H.G. Infra Engineering management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/27532-14-Aug-2026.pdf). (From the call for April to June 2026, 14 August 2026.)

## What to watch in H.G. Infra Engineering's next results? When H.G. Infra Engineering reports July to September 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. - What to check (from the call)
- Q2 revenue and operating margin against management's FY27 path; test whether monsoon and supply disruptions remain material. - Pune-Shirur and Odisha Ring Road appointed dates; check whether mobilization converts into execution. - HAM holdback receipts, AP1 NOC and Karnal monetization; check whether COD completion releases cash and supports debt reduction. - Solar commissioning, BESS COD and transmission procurement; check whether energy projects begin contributing consistently. ## Which stock lists is H.G. Infra Engineering on? H.G. Infra Engineering is on one of our India lists: 52 week high & low. [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)

## Is H.G. Infra Engineering profitable? H.G. Infra Engineering Ltd posted a net loss of ₹45.0 Cr in the Jun 2026 quarter. Full-year FY26 profit was ₹330 Cr. Over 10 years profit has grown 27.1% a year on average. That loss is 4.1% of the quarter's revenue. The same quarter a year earlier earned ₹99.0 Cr. 1 of the last 12 reported quarters were loss-making. Jun 2026 profit was −₹45.0 Cr, −145.5% on a year earlier. For the full year, FY26 profit was ₹330 Cr (−34.7% on the year before). Why profit moved: revenue changed −25.7% on a year earlier and the margin moved +10.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed −60.5% and revenue −2.1%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does H.G. Infra Engineering make, and is it growing? H.G. Infra Engineering Ltd reported ₹1,101 Cr of revenue in the Jun 2026 quarter, −25.7% 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 ₹4,853 Cr. FY26 revenue was ₹5,235 Cr, +3.5% on the year before. Recent pace: the last four quarters grew −2.1% 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 −3.1%, against −6.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −57.9%, against −41.9% a year (rolling over). ## How much of every ₹100 of sales does H.G. Infra Engineering keep? H.G. Infra Engineering Ltd's operating margin was 28.0% in the Jun 2026 quarter, 10.0 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. Why the margin moved: operating margin changed +10.1 percentage points on the year while gross margin changed +12.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is H.G. Infra Engineering's profit turning into cash? 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. 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. ## Where does H.G. Infra Engineering's cash go? 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. 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. ## What is H.G. Infra Engineering's P/E ratio, and how does it compare with its own history? H.G. Infra Engineering Ltd's P/E is 9.8×, near the low end of its own history: it has been lower only 24% of the time. Its usual P/E (the middle reading) is 11.3×, over 8.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. 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 Jun 2026 add up to ₹28.61. Why the multiple is where it is: over the past year earnings per share moved −34.6% while the price moved −57.8%. 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 −13.1% a year; about −3.9% a year came from earnings growth and about −9.2 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. ## Is the H.G. Infra Engineering business getting better or worse? H.G. Infra Engineering Ltd's business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −3.1% in the latest quarter, against +27.9% at its best in 12 quarters, with ROCE steady at 12.7%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does H.G. Infra Engineering earn on its capital? 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). 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. ## Does H.G. Infra Engineering have too much debt? H.G. Infra Engineering Ltd has total debt of ₹5,029 Cr against shareholder equity of ₹3,281 Cr as of Jun 2026, so its debt is 1.53× its equity. Year by year, that ratio went from 0.82 in FY22 to 1.53 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the H.G. Infra Engineering shareholding pattern? Domestic institutions cut their stake in H.G. Infra Engineering Ltd by 3.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 9.7% of the company. Foreign institutions moved −1.2 points over the same period, to 1.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −3.0 points over 8 quarters, to 9.7%; Foreign institutions: −1.2 points over 8 quarters, to 1.4%; Promoters: +0.0 points over 8 quarters, to 71.8%. Why the owners changed: domestic institutions drove it (−3.0 points), together with foreign institutions (−1.2 points). They reduced their stake. ## How far is H.G. Infra Engineering from balance-sheet trouble? For H.G. Infra Engineering Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does H.G. Infra Engineering rank in its industry? 42.1 out of 100, rank 12 of 18 in Infra - Construction & Contracting, with 81% of the evidence available. H.G. Infra Engineering Ltd scores 42.1 out of 100 against the 18 companies it is compared with in Infra - Construction & Contracting, ranking 12. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 12.6 + 13.9 + 7.9 + 7.7 = 42.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is H.G. Infra Engineering compared with? H.G. Infra Engineering ranks 12 of 18 Infra - Construction & Contracting companies on the 4-Factor Sector Score, with 42.1 out of 100. 1. [Mold-Tek Technologies Ltd](https://www.sectoralpha.in/stocks/mold-tek-technologies-ltd) MOLDTECH · breaking out · Most evidence points up · 81% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.0/35 · Revenue 48.7% · Profit 100% · Operating margin change 18.5 points · 88% evidence Capital efficiency 10.8/25 · ROCE 9.5% · Operating margin 19.9% · 100% evidence Valuation 11.7/20 · P/E 28× · PEG 0.62 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 23.2% · 1 year n/a · 25% evidence · 7 of 7 weeks ahead Exact sum: 31 + 10.8 + 11.7 + 12.3 = 65.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Cemindia Projects Ltd](https://www.sectoralpha.in/stocks/cemindia-projects-ltd) CEMPRO · quiet · Evidence leans up · 96% evidence 61.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.9/35 · Revenue 8.9% · Profit 47.2% · Operating margin change 1 points · 88% evidence Capital efficiency 18.7/25 · ROCE 32.8% · Operating margin 10% · 100% evidence Valuation 2.5/20 · P/E 38.8× · PEG 5.81 · 100% evidence Relative strength 14.5/20 · Lead over its industry 54.3% · Lead over NIFTY 500 38.4% · 1 year 55.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 25.9 + 18.7 + 2.5 + 14.5 = 61.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Larsen & Toubro Ltd](https://www.sectoralpha.in/stocks/larsen-toubro-ltd) LT · turning · Evidence leans up · 82% evidence 61.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue 11.2% · Profit 9.3% · Operating margin change -2 points · 95% evidence Capital efficiency 15.5/25 · ROCE 14.6% · Operating margin 11% · 76% evidence Valuation 9.1/20 · P/E 28.2× · PEG n/a · 50% evidence Relative strength 17.3/20 · Lead over its industry 14.1% · Lead over NIFTY 500 3% · 1 year -3.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 19.4 + 15.5 + 9.1 + 17.3 = 61.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Patel Engineering Ltd](https://www.sectoralpha.in/stocks/patel-engineering-ltd) PATELENG · basing · Evidence leans up · 96% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.4/35 · Revenue -1.4% · Profit 4.7% · Operating margin change 1 points · 88% evidence Capital efficiency 15.8/25 · ROCE 13.3% · Operating margin 14% · 100% evidence Valuation 15.1/20 · P/E 5.8× · PEG 1.52 · 100% evidence Relative strength 9.5/20 · Lead over its industry -4.9% · Lead over NIFTY 500 -14.5% · 1 year -36.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 15.4 + 15.8 + 15.1 + 9.5 = 55.8 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 5. [SPML Infra Ltd](https://www.sectoralpha.in/stocks/spml-infra-ltd) SPMLINFRA · quiet · Evidence leans up · 74% evidence 52.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.7/35 · Revenue 37.8% · Profit 80.8% · Operating margin change 4.4 points · 88% evidence Capital efficiency 4.1/25 · ROCE 6.5% · Operating margin 9% · 100% evidence Valuation 14.5/20 · P/E 12.7× · PEG 0.69 · 65% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -26.9% · 1 year -44.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 25.7 + 4.1 + 14.5 + 8.4 = 52.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [NBCC (India) Ltd](https://www.sectoralpha.in/stocks/nbcc-indialtd) NBCC · quiet · Evidence leans up · 78% evidence 50.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.2/35 · Revenue 3.8% · Profit 30.9% · Operating margin change 2.4 points · 83% evidence Capital efficiency 17.8/25 · ROCE 29.3% · Operating margin 7% · 76% evidence Valuation 10.9/20 · P/E 27.5× · PEG n/a · 50% evidence Relative strength 2.9/20 · Lead over its industry -14.9% · Lead over NIFTY 500 -23.7% · 1 year -40.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.2 + 17.8 + 10.9 + 2.9 = 50.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Hazoor Multi Projects Ltd](https://www.sectoralpha.in/stocks/hazoor-multi-projects-ltd) HAZOOR · Too little evidence to rank firmly · 59% evidence 47.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.9/43.75 · Revenue -30.5% · Profit -34.1% · Operating margin change 70.1 points · 88% evidence Capital efficiency 18.5/31.25 · ROCE 12% · Operating margin 84.5% · 100% evidence Valuation 13.1/25 · P/E 16.6× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 15.9 + 18.5 + 13.1 = 47.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Ramky Infrastructure Ltd](https://www.sectoralpha.in/stocks/ramky-infrastructure-ltd) RAMKY · basing · Evidence leans down · 63% evidence 46.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 4.6% · Profit 17.8% · Operating margin change -14 points · 83% evidence Capital efficiency 11.6/25 · ROCE 13.5% · Operating margin 6% · 76% evidence Valuation 13.2/20 · P/E 11.4× · PEG n/a · 50% evidence Relative strength 8.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -27.3% · 1 year -51.7% · 25% evidence · 0 of 12 weeks ahead Exact sum: 13.9 + 11.6 + 13.2 + 8.2 = 46.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 9. [PNC Infratech Ltd](https://www.sectoralpha.in/stocks/pnc-infratech-ltd) PNCINFRA · quiet · Evidence leans down · 100% evidence 44.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.7/35 · Revenue 1.8% · Profit -21.3% · Operating margin change -1 points · 100% evidence Capital efficiency 10.1/25 · ROCE 8% · Operating margin 21% · 100% evidence Valuation 20.0/20 · P/E 5.1× · PEG 0.17 · 100% evidence Relative strength 0.0/20 · Lead over its industry -31% · Lead over NIFTY 500 -38.1% · 1 year -55.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.7 + 10.1 + 20 + 0 = 44.8 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Simplex Infrastructures Ltd](https://www.sectoralpha.in/stocks/simplex-infrastructures-ltd) SIMPLEXINF · turning · Evidence leans down · 71% evidence 44.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.9/35 · Revenue 4.6% · Profit 80.8% · Operating margin change 3.9 points · 88% evidence Capital efficiency 5.4/25 · ROCE 2.4% · Operating margin 7% · 100% evidence Valuation 5.9/20 · P/E 44.4× · PEG n/a · 50% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 11.1% · 1 year -6.4% · 25% evidence · 7 of 12 weeks ahead Exact sum: 20.9 + 5.4 + 5.9 + 12 = 44.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Likhitha Infrastructure Ltd](https://www.sectoralpha.in/stocks/likhitha-infrastructure-ltd) LIKHITHA · basing · Evidence leans down · 96% evidence 43.1 out of 100 Growth Capital Valuation Relative
12. H.G. Infra Engineering Ltd this page HGINFRA · quiet · Evidence leans down · 81% evidence 42.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.6/35 · Revenue -3.1% · Profit -57.9% · Operating margin change 10 points · 88% evidence Capital efficiency 13.9/25 · ROCE 11.3% · Operating margin 28% · 100% evidence Valuation 7.9/20 · P/E 9.5× · PEG 3.17 · 100% evidence Relative strength 7.7/20 · Lead over its industry n/a · Lead over NIFTY 500 -32% · 1 year -58.8% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12.6 + 13.9 + 7.9 + 7.7 = 42.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 13. [IRB Infrastructure Developers Ltd](https://www.sectoralpha.in/stocks/irb-infrastructure-developers-ltd) IRB · basing · Evidence leans down · 78% evidence 42.0 out of 100 Growth Capital Valuation Relative
14. [Hindustan Construction Company Ltd](https://www.sectoralpha.in/stocks/hindustan-construction-company-ltd) HCC · quiet · Evidence leans down · 79% evidence 40.5 out of 100 Growth Capital Valuation Relative
15. [KNR Constructions Ltd](https://www.sectoralpha.in/stocks/knr-constructions-ltd) KNRCON · quiet · Evidence leans down · 78% evidence 38.0 out of 100 Growth Capital Valuation Relative
16. [Rail Vikas Nigam Ltd](https://www.sectoralpha.in/stocks/rail-vikas-nigam-ltd) RVNL · quiet · Evidence leans down · 74% evidence 36.4 out of 100 Growth Capital Valuation Relative
17. [Vishnu Prakash R Punglia Ltd](https://www.sectoralpha.in/stocks/vishnu-prakash-r-punglia-ltd) VPRPL · Too little evidence to rank firmly · 59% evidence 23.0 out of 100 Growth Capital Valuation Relative
18. [Giriraj Civil Developers Ltd](https://www.sectoralpha.in/stocks/giriraj-civil-developers-ltd) GIRIRAJ · Too little evidence to rank firmly · 32% evidence 55.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Infra - Construction & Contracting](https://www.sectoralpha.in/sectors/infra-construction-contracting), all 18 compared on one page. ## Which companies are close to H.G. Infra Engineering in size? H.G. Infra Engineering is the 9th largest of 18 Infra - Construction & Contracting companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Hindustan Construction Company, PNC Infratech and KNR Constructions. Just below it: Patel Engineering, Ramky Infrastructure and Simplex Infrastructures. ### Infra - Construction & Contracting companies close in size

1. [Hindustan Construction Company Ltd](https://www.sectoralpha.in/stocks/hindustan-construction-company-ltd) ₹4,490 crore
2. [PNC Infratech Ltd](https://www.sectoralpha.in/stocks/pnc-infratech-ltd) ₹3,179 crore
3. [KNR Constructions Ltd](https://www.sectoralpha.in/stocks/knr-constructions-ltd) ₹2,772 crore
4. H.G. Infra Engineering Ltd ₹2,474 crore
5. [Patel Engineering Ltd](https://www.sectoralpha.in/stocks/patel-engineering-ltd) ₹2,286 crore
6. [Ramky Infrastructure Ltd](https://www.sectoralpha.in/stocks/ramky-infrastructure-ltd) ₹2,125 crore
7. [Simplex Infrastructures Ltd](https://www.sectoralpha.in/stocks/simplex-infrastructures-ltd) ₹2,006 crore

[All 18 Infra - Construction & Contracting companies, largest first](https://www.sectoralpha.in/sectors/infra-construction-contracting#all-companies)

### Companies close in size in other industries

1. [Gujarat Industries Power Co Ltd](https://www.sectoralpha.in/stocks/gujarat-industries-power-co-ltd) ₹2,483 crore · Power - Generation/Distribution
2. [Synthiko Foils Ltd](https://www.sectoralpha.in/stocks/synthiko-foils-ltd) ₹2,483 crore · Aluminium
3. H.G. Infra Engineering Ltd ₹2,474 crore
4. [Apcotex Industries Ltd](https://www.sectoralpha.in/stocks/apcotex-industries-ltd) ₹2,472 crore · Rubber Processing/Rubber Products
5. [Welspun Specialty Solutions Ltd](https://www.sectoralpha.in/stocks/welspun-specialty-solutions-ltd) ₹2,469 crore · Steel - Tubes/Pipes

## What else do people ask about H.G. Infra Engineering? ### What is H.G. Infra Engineering's share price today? H.G. Infra Engineering Ltd's share price is ₹389.40, −57.8% over the past year. The whole company is worth ₹2,535 Cr on the market. In the last 52 weeks it traded between ₹380 to ₹904; today it is 2% of the way up from the low, 32.1% below its 200-day average (as of 3 November 2026). ### What were H.G. Infra Engineering's latest quarterly results? H.G. Infra Engineering Ltd reported revenue of ₹1,101 Cr and a net loss of ₹45.0 Cr for the Jun 2026 quarter. Revenue fell 25.7% and profit fell 145.5% compared with a year earlier. Earnings per share were −₹6.93 (as of 3 November 2026). ### What is H.G. Infra Engineering's market cap? H.G. Infra Engineering Ltd's market capitalisation is ₹2,535 Cr at a share price of ₹389.40. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is H.G. Infra Engineering performing? H.G. Infra Engineering Ltd's share price has been falling for 89 weeks. In its latest quarter, revenue fell 25.7% and profit fell 145.5% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 22 weeks running (as of 3 November 2026). ### Will H.G. Infra Engineering's share price go up? This page does not forecast H.G. Infra Engineering Ltd's share price. What it shows instead: the share price is ₹389.40, and it has been falling for 89 weeks. Its P/E of 9.8× is higher than 24% of its own last 9 years (as of 3 November 2026). ### Who owns H.G. Infra Engineering? Promoters own 71.8% of H.G. Infra Engineering Ltd, foreign institutions 1.4%, domestic institutions 9.7% and the public 17.0% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 3.0 percentage points over 8 quarters (as of 3 November 2026). ### Does H.G. Infra Engineering have too much debt? Yes, H.G. Infra Engineering Ltd has a lot of debt: its debt is 1.54× its equity, and its operating profit is 2 times its interest bill. FY26 borrowings were ₹5,029 Cr against equity of ₹3,265 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is H.G. Infra Engineering in its business cycle? H.G. Infra Engineering Ltd's FY26 operating margin was 19.0%, against a 13-year range of 11.0% to 21.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 28.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the H.G. Infra Engineering story? The main question: the P/E is near the low end of its own history, higher than only 24% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is H.G. Infra Engineering a stock worth studying right now? What the numbers show: H.G. Infra Engineering Ltd's P/E is near the low end of its own history, higher than only 24% of past readings, and its quarterly results are still getting worse. The main open question: whether results start to improve. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a H.G. Infra Engineering share price forecast for 2026? What management itself 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. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india

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