H.G. Infra Engineering Limited — PPTs, 22-05-2025: Investor Presentation

**1. Financial Highlights:**

Standalone revenue rose 18.2% YoY to ₹605.2 Cr in FY25, with EBITDA margin steady at 15.7%. PAT was ₹57.7 Cr, reflecting a slight margin dip to 9.5%. Q4 revenue grew 20.7% to ₹197.3 Cr, though EBITDA margin eased to 14.3%. Consolidated revenue fell 6% to ₹505.6 Cr due to solar segment adjustments, with PAT down 6.2% at ₹50.5 Cr. The order book increased 22.9% YoY to ₹1,528 Cr, ensuring strong execution visibility. Consolidated debt rose to ₹409 Cr, while standalone debt-to-equity remains moderate at 0.37x with healthy cash balances.

**2. Strategic Initiatives & Growth Drivers:**

Focus remains on expanding HAM and EPC portfolios across highways (68% order book), railways (20%), solar (5%), and battery energy storage systems (7%). Capex targets modernizing a large fleet (3000+ equipment) and scaling operations across 13 states. Equity commitments for existing HAM projects are fully met, supporting disciplined growth capital allocation.

**3. Business Developments:**

Active across 28+ projects, the company continues adding HAM projects in Telangana, Andhra Pradesh, Odisha, and other states, broadening its pipeline. Multi-segment presence spanning roads, metro/rail, solar, and BESS enhances resilience amid sector shifts.

**4. Market Position & Competitive Advantage:**

Delivering a 22.5% revenue CAGR over FY20-25 with stable ~16% EBITDA margins, the company is a leading mid-sized EPC player in India. A strong book-to-bill ratio (~2.5x) and pan-India presence provide scale, geographic diversification, and steady order inflows.

**5. Investor Implications:**

Robust order book growth alongside consistent margins points to positive expansion potential. Moderate leverage and a solid execution record lower financial risk, though margin pressure at the consolidated level merits watching. Diversified sector exposure and a growing HAM pipeline underpin a stable, medium-term growth outlook.