Rs 12,434 crore order book: This multibagger civil construction company emerges as the lowest bidder (L-1) for an order worth Rs 763.11 crore from MORTH
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 806 per share.
On Friday, shares of H.G. Infra Engineering Limited (HGIEL) plunged 1.95 per cent to 1,670.10 per share from its previous closing of Rs 1,703.25 with an intraday high of Rs 1,718.80 and an intraday low of Rs 1,668. The stock’s 52-week high is Rs 1,880 and its 52-week low is Rs 806.
H.G. Infra Engineering Limited has secured the lowest bid (L-1) for a road improvement project awarded by the Ministry of Road Transport and Highways (MORTH). The project involves upgrading a 63.84 km stretch of NH 227B, known as the "84 Kosi Parikrama Marg," from Bahuvan Madar Majha to Jagarnathpur in Uttar Pradesh, to a two-lane configuration with paved shoulders. H.G. Infra's winning bid of Rs 763.11 crore was selected over MORTH's estimated project cost of Rs 898.5 crore. This project will be executed under the Hybrid Annuity Mode (HAM) with a construction period of two years.
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.
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.
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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 June 2024, Abakkus Emerging Opportunities Fund – 1 (owned by a renowned ace investor, Sunil Singhania) owns a 1.35 per cent stake in the company. As of June 2024, FIIs have increased their stake to 2.04 per cent compared to 1.68 per cent in March 2024.
The stock has an ROE of 24 per cent and an ROCE of 24 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 806 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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