HEC Infra Projects Ltd

HEC Infra Proj. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HEC Infra Projects Ltd

₹ 157 5.00%
13 Aug - close price
hecprojects.in NSE: HECPROJECT
About

Incorporated in 2005, HEC Infra Projects Ltd is engaged in electrification services

Key Points

Business Overview:[1]
Company is an EPC contractor which provides SITC services to multiple governments and private entities. HEC is registered ‘Class A’ EPC contractor with Roads and Building Department of Govt of Gujarat and a Class-1 registered contractor with Central Public Works Department. It has also been awarded contractor license from GETCO. Company works in the field of Electrical, Electro-Mechanical, Civil and Instrumentation work and offers integrated solutions and end-to-end services ranging from design, supply, installation and commissioning of overhead transmission lines, substations, underground cable lying, Switchyard, Water pumping stations, Lighting systems, Industrial and commercial electrification, solar PV plants, battery energy storage system and mini / micro grid Solar projects. Company has executed projects on Turnkey basis for Switchyard up to 220 KV, Overhead transmission line up to 220 KV, and underground cable laying up to 66 KV, Air insulated substations up to 220KV and SCADA systems.

Website NSE - BE
  • Market Cap ₹ 171 Cr.
  • Current Price ₹ 157
  • High / Low ₹ 184 / 82.0
  • Stock P/E 17.6
  • Book Value ₹ 49.0
  • Dividend Yield 0.00 %
  • ROCE 19.0 %
  • ROE 21.0 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 76.5% CAGR over last 5 years
  • Company's working capital requirements have reduced from 181 days to 44.4 days

Cons

  • Stock is trading at 3.21 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.8% over last 3 years.
  • Company has high debtors of 155 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Construction Construction Civil Construction

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Quarterly Results

Figures in Rs. Crores

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
11.93 8.83 11.50 19.47 13.26 15.27 17.09 28.18 18.02 20.04 27.54 46.50 27.91
11.09 7.99 10.53 18.82 12.45 13.95 15.76 26.40 16.80 18.86 24.91 37.57 25.31
Operating Profit 0.84 0.84 0.97 0.65 0.81 1.32 1.33 1.78 1.22 1.18 2.63 8.93 2.60
OPM % 7.04% 9.51% 8.43% 3.34% 6.11% 8.64% 7.78% 6.32% 6.77% 5.89% 9.55% 19.20% 9.32%
0.08 0.09 0.10 1.07 0.09 0.08 3.01 0.18 0.23 0.70 0.25 -0.13 0.01
Interest 0.70 0.64 0.97 0.91 0.58 0.70 0.51 0.03 0.25 0.70 0.87 1.34 0.73
Depreciation 0.06 0.07 0.05 0.04 0.06 0.06 0.05 0.00 0.10 0.10 0.09 -0.10 0.14
Profit before tax 0.16 0.22 0.05 0.77 0.26 0.64 3.78 1.93 1.10 1.08 1.92 7.56 1.74
Tax % 25.00% 0.00% 20.00% 38.96% 26.92% 0.00% 0.00% 86.53% 22.73% -13.89% 25.52% 24.87% 23.56%
0.12 0.23 0.04 0.46 0.20 0.64 3.78 0.26 0.84 1.23 1.43 5.67 1.33
EPS in Rs 0.12 0.23 0.04 0.45 0.20 0.63 3.73 0.26 0.83 1.21 1.41 5.23 1.23
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
60 125 116 83 82 80 39 38 44 52 74 112 122
56 119 109 76 74 74 36 35 41 48 68 98 107
Operating Profit 4 6 7 8 8 6 3 2 3 3 5 14 15
OPM % 7% 5% 6% 9% 10% 7% 8% 6% 6% 6% 7% 12% 13%
0 1 1 1 1 1 1 1 1 1 3 1 1
Interest 3 3 3 3 4 4 3 3 3 3 2 3 4
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 2 4 4 5 5 3 1 0 1 1 7 12 12
Tax % 37% 33% 35% 35% 32% 26% 28% -94% 9% 34% 29% 21%
1 2 3 3 3 2 1 0 1 1 5 9 10
EPS in Rs 1.46 3.34 2.52 3.13 3.31 1.93 0.53 0.31 0.50 0.78 4.66 8.53 9.08
Dividend Payout % 21% 6% 8% 6% 6% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -1%
5 Years: 23%
3 Years: 37%
TTM: 55%
Compounded Profit Growth
10 Years: 14%
5 Years: 76%
3 Years: 163%
TTM: 75%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 75%
1 Year: 50%
Return on Equity
10 Years: 9%
5 Years: 8%
3 Years: 12%
Last Year: 21%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 1 1 2 2 2 2 2 2 10 10 10 11
Reserves 9 11 18 21 24 26 26 27 19 20 25 42
27 24 17 23 26 29 31 31 35 31 30 38
20 43 29 26 40 35 26 24 17 23 14 15
Total Liabilities 56 80 66 72 92 91 86 84 82 85 79 106
3 3 3 3 2 2 2 2 2 2 1 1
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 1 0 0 0 0 0 0 0 0 0 0
53 76 63 69 90 89 83 82 80 83 78 105
Total Assets 56 80 66 72 92 91 86 84 82 85 79 106

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
4 6 -2 11 -2 -4 -5 2 -4 7 7 -26
-0 0 0 0 0 0 0 0 0 0 4 0
-4 -5 2 -8 2 3 4 -1 2 -7 -2 17
Net Cash Flow 0 1 0 3 -0 -1 -1 0 -1 0 9 -9

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 143 77 96 146 217 141 262 296 243 226 74 155
Inventory Days 41 79 23 22 48 68 299 229 231 247 103 78
Days Payable 157 166 119 177 265 248 485 372 255 362 99 93
Cash Conversion Cycle 27 -10 0 -10 0 -40 76 153 219 111 79 139
Working Capital Days 34 11 33 24 61 112 305 357 361 306 192 44
ROCE % 13% 18% 19% 19% 17% 12% 6% 5% 5% 7% 8% 19%

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 74.93% 74.93%
8.58% 8.58% 8.52% 8.52% 8.52% 8.52% 8.52% 8.52% 8.52% 5.86% 5.48% 5.48%
18.21% 18.21% 18.27% 18.27% 18.27% 18.27% 18.27% 18.27% 18.27% 20.94% 19.58% 19.58%
No. of Shareholders 7591,0051,0401,2601,5792,2222,2273,1803,7623,9273,7074,065

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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