H.G. Infra Engineering (HGINFRA) Q4 24/25 earnings summary

Executive summary

• Achieved strong financial and operational performance in FY 2025, with a 22.5% revenue CAGR, 22.7% EBITDA CAGR, and 28.3% PAT CAGR from FY20 to FY25, maintaining robust margins and growth.

• Order book reached INR 15,281 crore (Rs 1,52,812 Mn) as of March 2025, diversified across highways, railways, solar, gas, and new verticals like transmission, airports, and water infrastructure, with a pan-India presence in 13 states.

• Monetized four HAM projects, realizing INR 503 crore, and initiated monetization of six additional HAM projects.

• Audited standalone and consolidated financial statements for FY25 were approved, with a final dividend of ₹2.00 per share recommended, subject to shareholder approval.

• Business diversified across highways, railways, solar, battery energy storage, and renewable energy segments.

Financial highlights

• Standalone FY25 revenue: INR 6,052 crore (Rs 60,519 Mn), up from INR 5,122 crore (Rs 51,217 Mn); EBITDA: INR 951 crore (Rs 9,507 Mn, 15.7% margin); PAT: INR 577 crore (Rs 5,771 Mn, 9.5% margin).

• Consolidated FY25 revenue: INR 5,056 crore (Rs 50,562 Mn), down from INR 5,379 crore (Rs 53,785 Mn); EBITDA: INR 1,058 crore (20.9% margin); PAT: INR 505 crore (Rs 5,054 Mn, 10% margin).

• Exceptional gain of ₹573.71 million in standalone and ₹164.46 million in consolidated results from the sale of H.G. Rewari Bypass Private Limited.

• Gross debt (standalone): INR 1,068 crore (Rs 10,679 Mn); gross debt (consolidated): INR 4,092 crore (Rs 40,919 Mn).

• Standalone EPS for FY25 was ₹88.55; consolidated EPS was ₹77.55.

Outlook and guidance

• Targeting INR 11,000 crore order inflow for FY 2026, with 70% from roads/railways and 30% from other sectors.

• Revenue growth guidance of 17%-18% for FY 2026, aiming for INR 7,100 crore revenue.

• EBITDA margin expected to sustain at 15.6%-16%.

• Continued focus on expanding order book and maintaining a superior book-to-bill ratio (3.2x in FY25).

• The Board recommended a final dividend of ₹2.00 per share for FY25, subject to shareholder approval.