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H.G. Infra Engineering (HGINFRA) investor relations material

H.G. Infra Engineering Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary13 Nov, 2025

Executive summary

  • Achieved a 5-year revenue CAGR of 22.5%, EBITDA CAGR of 22.7%, and PAT CAGR of 28.3% from FY20 to FY25, reflecting strong growth and execution.

  • Order book as of September 25 stands at INR 13,933 crores, with 66% from highways, 20% from rails/metro, and 14% from renewables, diversified across roads, highways, railways, solar, and BESS.

  • Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with auditor review confirming compliance and no material misstatements.

  • Significant divestment activity: sale of H.G. Rewari Bypass Private Limited completed in February 2025, and approval for divestment of five wholly owned subsidiaries, pending regulatory and contractual conditions.

  • Completed 45+ projects with 22+ active projects and a modern fleet of 2,880+ equipment.

Financial highlights

  • Standalone Q2 FY26 revenue: INR 1,154 crores; EBITDA: INR 147 crores (12.7% margin); PAT: INR 67 crores (5.8% margin), down from 8.3% margin YoY.

  • Standalone Q2FY26 revenue rose 8.4% YoY to Rs. 11,537 million; H1FY26 revenue up 11.4% YoY to Rs. 28,630 million.

  • Consolidated Q2 FY26 revenue: INR 905 crores; EBITDA: INR 206 crores (22.8% margin); PAT: INR 52 crores (5.7% margin), down from 8.9% YoY.

  • Standalone net profit after tax for Q2 FY26 was Rs. 673.06 million (Q2 FY25: Rs. 886.41 million); consolidated net profit after tax was Rs. 518.36 million (Q2 FY25: Rs. 807.12 million).

  • Exceptional gain of Rs. 573.71 million (standalone) and Rs. 164.46 million (consolidated) from the sale of H.G. Rewari Bypass Private Limited recognized in FY25.

Outlook and guidance

  • FY26 order inflow target: INR 10,000-11,000 crores; non-road infra portfolio to reach 35% by FY27.

  • FY26 revenue guidance: INR 6,500-7,000 crores; FY27 revenue expected at INR 7,800-8,000 crores, with 15% growth.

  • Board and management continue to focus on core EPC and renewable segments, with ongoing divestment of non-core subsidiaries to streamline operations.

  • Expanding order book with new project wins in BESS, solar, and transmission, supporting future growth.

  • Focus on expanding into buildings, real estate, green hydrogen, and water management.

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