Rs 12,434 crore order book & FIIs increase stake: Multibagger civil construction stock made fresh 52-week high as company incorporates 19 subsidiaries for solar power projects!

The stock gave multibagger returns of 116 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.

Today, one of the Top Gainers on BSE, shares of H.G. Infra Engineering Limited (HGIEL) gained 18.15 per cent and made a fresh new 52-week high of 1,853.10 per share from its previous closing of Rs 1,568.45. At the closing bell, shares of the company were trading at Rs 1,818.15 per share, up 15.95 per cent with a spurt in volume by more than 2.48 times on BSE.

Recently, HGIEL incorporated a total of 19 subsidiary companies for solar power projects in India. Here is the list of 19 companies: 

1. H.G. Jaipur Solar Project Private Limited
2. H.G. Jalore Solar Project Private Limited
3. H.G. Ajmer Solar Project Private Limited
4. H.G. Mangeriya Solar Project Private Limited
5. H.G. Nagaur Solar Project Private Limited
6. H.G. Renewable Energies Private Limited
7. H.G. Mathania Solar Project Private Limited
8. H.G. Bilara Solar Project Private Limited
9. H.G. Tijara Solar Project Private Limited
10. H.G. Bhiwadi Solar Project Private Limited
11. H.G. Bhilwara Solar Project Private Limited
12. H.G. Kota Solar Project Private Limited
13. H.G. Tapukara Solar Project Private Limited
14. H.G. Ghiloth Solar Project Private Limited
15. H.G. Bikaner Solar Project Private Limited
16. H.G. Nokha Solar Project Private Limited
17. H.G. Bhopalgarh Solar Project Private Limited
18. H.G. Behror Solar Project Private Limited
19. H.G. Sri Dungargarh Solar Project Private Limited

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 11,000 crore and reported amazing numbers in its Quarterly Results & annual results.

Also Read: Reliance Group-backed multibagger penny stock at Rs 28.67 was locked in upper circuit as the company becomes debt-free on a standalone basis!

Order Book: The company’s order book stands at Rs 12,434 crore as of March 31, 2023. The orders are bagged from various clients across India, including NHAI, Adani, DMRC, RVNL and NCR.

The net sales increased by 11.3 per cent to Rs 1,708.26 crore and the net profit increased by 11.4 per cent to Rs 189.90 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 16.4 per cent to Rs 5,378.48 crore and the net profit increased by 9.4 per cent to Rs 538.22 crore in FY24 compared to FY23.

As of March 2024, Abakkus Emerging Opportunities Fund – 1 (owned by a renowned ace investor, Sunil Singhania) owns a 1.44 per cent stake in the company. As of March 2024, FIIs have increased their stake to 1.68 per cent compared to 1.34 per cent in March 2023.

The stock has an ROE of 24 per cent and an ROCE of 24 per cent. The stock gave multibagger returns of 116 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.