 "HG Infra hits 52-week high, rallies 13% in two days post Q3 results")
Shares of HG Infra Engineering hit a 52-week high of Rs 743, as they rallied 8 per cent on the BSE in Friday's intra-day trade amid heavy volumes. In the past two trading days, the stock has surged 13 per cent after the civil construction company reported a good set of numbers for the quarter ended December 2022 (Q3FY23). It surpassed its previous high of Rs 720, touched on January 20, 2022.
At 12:31 pm, HG Infra was quoting 7 per cent higher at Rs 736.30, as compared to 0.32 per cent decline in the S&P BSE Sensex. Average trading volumes on the counter jumped over four-fold today with a combined around 720,000 equity shares having changed hands on the NSE and BSE till th time of writing of this report.
The company and its jointly controlled operations are primarily engaged in the business of Engineering, Procurement and Construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities. In the past three months, the stock has zoomed nearly 40 per cent, as against 0.01 per cent decline in the Sensex.
For Q3FY23, HG Infra reported 30 per cent year-on-year (YoY) jump in its consolidated profit after tax at Rs 130.90 crore. Revenue from operations grew 23.7 per cent to Rs 1,185 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin increased by 80 bps to 20.1 per cent from 19.3 per cent in the year-ago quarter.
The company has a strong order book position, with Rs 11,064-crore worth of order as on December 31, 2022.
In its FY22 annual report, the company had said that it has, in recent times, witnessed the push on infrastructure development with objective on better connectivity and increasing road network across the nation. With consistently high awarding activity and rapid pace of construction, the company sees a lot of traction in the future order inflows. The company has been constantly focusing on strengthening its foothold and upscaling its capabilities to undertake opportunities arising in the sector.
The company has also adopted digital technology which will enable daily activity monitoring and bring in efficiencies. These steps will help the Company utilise the resources more efficiently, which, in turn, will lead to margin expansion and healthy financials, HG Infra said.
At 12:31 pm, HG Infra was quoting 7 per cent higher at Rs 736.30, as compared to 0.32 per cent decline in the S&P BSE Sensex. Average trading volumes on the counter jumped over four-fold today with a combined around 720,000 equity shares having changed hands on the NSE and BSE till th time of writing of this report.
The company and its jointly controlled operations are primarily engaged in the business of Engineering, Procurement and Construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities. In the past three months, the stock has zoomed nearly 40 per cent, as against 0.01 per cent decline in the Sensex.
For Q3FY23, HG Infra reported 30 per cent year-on-year (YoY) jump in its consolidated profit after tax at Rs 130.90 crore. Revenue from operations grew 23.7 per cent to Rs 1,185 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin increased by 80 bps to 20.1 per cent from 19.3 per cent in the year-ago quarter.
The company has a strong order book position, with Rs 11,064-crore worth of order as on December 31, 2022.
In its FY22 annual report, the company had said that it has, in recent times, witnessed the push on infrastructure development with objective on better connectivity and increasing road network across the nation. With consistently high awarding activity and rapid pace of construction, the company sees a lot of traction in the future order inflows. The company has been constantly focusing on strengthening its foothold and upscaling its capabilities to undertake opportunities arising in the sector.
The company has also adopted digital technology which will enable daily activity monitoring and bring in efficiencies. These steps will help the Company utilise the resources more efficiently, which, in turn, will lead to margin expansion and healthy financials, HG Infra said.
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