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H.G. Infra Engineering (HGINFRA) investor relations material
H.G. Infra Engineering Q1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY 2027 saw significant declines in revenue and profit due to industry sluggishness, project delays, and supply disruptions, with operations spanning roads, railways, solar, BESS, and transmission across 14 states and 36+ projects.
The Board and Audit Committee approved unaudited standalone and consolidated results, with no material misstatements found by auditors.
Significant divestment activity occurred, with the sale of stakes in multiple subsidiaries impacting exceptional items.
Diversification into renewables, BESS, and transmission continues, with aggressive scaling planned.
Corrective measures have been implemented to address execution bottlenecks, with expectations of recovery in the latter half of FY 2027.
Financial highlights
Standalone Q1 FY 2027 revenue: INR 9,072.36 million; EBITDA: INR 770 million (8.49% margin); PAT: INR 282.72 million (3.12% margin), down 46.9% and 77.5% year-over-year.
Consolidated Q1 FY 2027 revenue: INR 11,005.85 million; EBITDA: INR 3,040 million (27.6% margin); PAT: -INR 445.18 million (-4.04% margin), compared to INR 992.64 million profit in Q1 FY 2026.
Gross standalone debt as of June 26: INR 1,834 crore.
Five-year revenue CAGR (FY21-26): 17.5%; EBITDA CAGR: 11.9%; PAT CAGR: 13%.
Standalone net worth at quarter-end: INR 32,866.04 million; consolidated net worth: INR 32,193.14 million.
Outlook and guidance
FY 2027 revenue guidance: INR 6,000–6,500 crore, with Q2 expected at ~INR 1,000 crore and significant ramp-up in H2; FY 2028 revenue expected at ~INR 7,000 crore.
EBITDA margin guidance for FY 2027 and FY 2028: 13.5%–14%, with improvement expected in H2 FY 2027.
Order inflow target for FY 2027: INR 11,000–12,000 crore; INR 5,500 crore already received in Q1.
Equity commitments for HAM projects are comfortably met, with ongoing expansion in the order book.
Management assessed that ongoing legal proceedings have not impacted operations or financial position.
- Order book hit ₹1,57,386 Mn despite lower FY26 revenue, profit, and margin pressure.HGINFRA
Q4 25/26 - Q1 FY25 delivered strong growth, record order book, high margins, and improved credit profile.HGINFRA
Q1 24/25 - Order book at INR 13,624 crore; revenue up, but net profit pressured by finance costs.HGINFRA
Q3 25/26 - Strong revenue and profit growth, robust order book, and stable margins support positive outlook.HGINFRA
Q2 24/25 - Order book at INR 15,080 crores; strong revenue, margin growth, and major project wins.HGINFRA
Q3 24/25 - Record order book, robust margins, and key asset sale drive strong annual performance.HGINFRA
Q4 24/25 - Q1 FY26 delivered revenue growth, margin compression, and key asset monetization.HGINFRA
Q1 25/26 - Order book at INR 13,933 crores; stable revenue; margins down; divestments and new projects ongoing.HGINFRA
Q2 25/26
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