Rs 16,623.50 Crore Order Book: Solar Civil Construction Company Enters into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam Ltd
The stock is up by 91.3 per cent from its 52-week low of Rs 806 per share and gave multibagger returns of over 500 per cent in 5 years.
H.G. Infra Engineering Limited informed that H.G. Banaskantha Bess Private Limited, a Wholly Owned Subsidiary of H.G. Infra Engineering Limited entered into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam Limited on December 23, 2024 for Procurement of 185 MW/ 370 MWH On Long Term Basis.
H.G. Infra Engineering Limited has acquired 28,40,000 equity shares of its subsidiary, H.G. Jetpur Solar Project Private Limited, for Rs 2,84,00,000 through a rights issue subscription. This related party transaction falls within the Company's business expansion strategy in the solar power sector. H.G. Jetpur Solar Project Private Limited, incorporated on June 23, 2024, is a newly established subsidiary with an authorised capital of Rs. 2,90,00,000/-. The acquisition was completed on December 23, 2024, with a cash consideration of Rs. 2,84,00,000/- for 28,40,000 equity shares, representing the Company's investment in the subsidiary's solar power projects.
About the Company
H.G. Infra Engineering Limited (HGIEL) is an Indian road infrastructure company engaged in the business of engineering, procurement and construction (EPC) services, maintenance of roads, bridges, flyovers and other infrastructure contract works. The company has a market cap of over Rs 9,700 crore and reported positive numbers in its Quarterly Results & annual results.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
Order Book: The company’s order book stands at Rs 16,623.50 crore as of September 30, 2024. The orders are bagged from various clients across India, including NHAI, Adani, DMRC, RVNL and NCR.
As of September 2024, Abakkus Emerging Opportunities Fund – 1 (owned by a renowned ace investor, Sunil Singhania) owns a 1.33 per cent stake in the company. The stock has an ROE of 24 per cent and an ROCE of 24 per cent. The stock is up by 91.3 per cent from its 52-week low of Rs 806 per share and gave multibagger returns of over 500 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.