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

₹ 90.5 -1.04%
26 Apr 3:49 p.m.
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
  • Market Cap ₹ 91.8 Cr.
  • Current Price ₹ 90.5
  • High / Low ₹ 106 / 30.6
  • Stock P/E 18.1
  • Book Value ₹ 30.4
  • Dividend Yield 0.00 %
  • ROCE 7.04 %
  • ROE 2.66 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.03 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -8.88% over past five years.
  • Company has a low return on equity of 1.84% over last 3 years.
  • Earnings include an other income of Rs.4.25 Cr.
  • Company has high debtors of 213 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

Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
8.86 14.93 7.08 10.44 7.76 18.45 11.93 8.83 11.50 19.47 13.26 15.27 17.09
7.76 14.57 6.50 9.59 7.48 17.53 11.09 7.99 10.53 18.82 12.45 13.95 15.76
Operating Profit 1.10 0.36 0.58 0.85 0.28 0.92 0.84 0.84 0.97 0.65 0.81 1.32 1.33
OPM % 12.42% 2.41% 8.19% 8.14% 3.61% 4.99% 7.04% 9.51% 8.43% 3.34% 6.11% 8.64% 7.78%
0.09 0.48 0.10 0.10 0.08 0.47 0.08 0.09 0.10 1.07 0.09 0.08 3.01
Interest 0.67 0.83 0.52 0.72 0.33 1.02 0.70 0.64 0.97 0.91 0.58 0.70 0.51
Depreciation 0.06 0.04 0.06 0.06 0.06 0.06 0.06 0.07 0.05 0.04 0.06 0.06 0.05
Profit before tax 0.46 -0.03 0.10 0.17 -0.03 0.31 0.16 0.22 0.05 0.77 0.26 0.64 3.78
Tax % 10.87% 666.67% 30.00% 29.41% 33.33% -6.45% 25.00% 0.00% 20.00% 38.96% 26.92% 0.00% 0.00%
0.41 0.17 0.08 0.12 -0.02 0.33 0.12 0.23 0.04 0.46 0.20 0.64 3.78
EPS in Rs 0.41 0.17 0.08 0.12 -0.02 0.33 0.12 0.23 0.04 0.45 0.20 0.63 3.73
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
57.29 59.71 60.46 124.96 115.92 83.48 82.29 79.99 39.22 37.54 43.71 51.68 65.09
54.02 56.29 56.39 118.66 109.32 75.82 74.34 74.22 36.09 35.24 41.07 48.37 60.98
Operating Profit 3.27 3.42 4.07 6.30 6.60 7.66 7.95 5.77 3.13 2.30 2.64 3.31 4.11
OPM % 5.71% 5.73% 6.73% 5.04% 5.69% 9.18% 9.66% 7.21% 7.98% 6.13% 6.04% 6.40% 6.31%
1.13 0.93 0.50 0.63 0.79 0.71 0.86 1.24 0.86 0.71 0.75 1.34 4.25
Interest 2.49 2.67 2.79 2.87 3.13 3.21 3.56 4.05 2.99 2.62 2.60 3.23 2.70
Depreciation 0.16 0.18 0.18 0.37 0.32 0.32 0.31 0.31 0.25 0.23 0.24 0.22 0.21
Profit before tax 1.75 1.50 1.60 3.69 3.94 4.84 4.94 2.65 0.75 0.16 0.55 1.20 5.45
Tax % 35.43% 29.33% 36.88% 33.06% 35.28% 34.71% 32.19% 26.04% 28.00% -93.75% 9.09% 34.17%
1.13 1.07 1.02 2.47 2.55 3.16 3.34 1.95 0.54 0.31 0.51 0.79 5.08
EPS in Rs 3.23 3.06 1.46 3.34 2.52 3.13 3.31 1.93 0.53 0.31 0.50 0.78 5.01
Dividend Payout % 9.29% 9.81% 20.59% 6.03% 7.96% 6.42% 6.08% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -1%
5 Years: -9%
3 Years: 10%
TTM: 28%
Compounded Profit Growth
10 Years: -3%
5 Years: -25%
3 Years: 14%
TTM: 606%
Stock Price CAGR
10 Years: %
5 Years: 27%
3 Years: 62%
1 Year: 195%
Return on Equity
10 Years: 7%
5 Years: 3%
3 Years: 2%
Last Year: 3%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0.70 0.70 1.40 1.49 2.03 2.03 2.03 2.03 2.03 2.03 10.14 10.14 10.14
Reserves 7.49 8.51 8.69 10.84 18.00 20.92 24.26 25.97 26.50 26.81 19.22 20.01 20.68
Preference Capital 0.09 0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
18.85 21.79 26.46 23.98 17.36 22.66 26.04 28.61 31.27 31.11 35.13 31.30 36.39
16.16 15.02 19.83 43.34 28.74 26.08 40.10 34.61 25.77 24.32 17.41 23.35 12.61
Total Liabilities 43.20 46.02 56.38 79.65 66.13 71.69 92.43 91.22 85.57 84.27 81.90 84.80 79.82
3.36 3.20 3.16 2.99 2.73 2.52 2.44 2.24 2.22 2.19 2.02 1.93 1.82
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
39.84 42.82 53.22 75.98 63.40 69.17 89.99 88.98 83.35 82.08 79.88 82.87 78.00
Total Assets 43.20 46.02 56.38 79.65 66.13 71.69 92.43 91.22 85.57 84.27 81.90 84.80 79.82

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
5.78 0.24 4.28 5.90 -1.69 10.80 -1.75 -4.06 -4.56 1.63 -3.56 8.41
-0.29 0.39 -0.26 0.04 0.25 0.24 0.08 0.21 0.04 0.07 0.26 0.20
-4.43 -1.97 -3.76 -5.33 1.90 -8.07 1.54 2.89 3.88 -1.44 1.95 -8.39
Net Cash Flow 1.06 -1.34 0.26 0.61 0.45 2.96 -0.12 -0.96 -0.63 0.26 -1.35 0.22

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 160.30 168.59 143.20 77.05 95.97 145.60 217.25 140.82 261.61 296.36 242.58 212.66
Inventory Days 30.22 29.49 40.57 79.19 23.34 21.95 47.69 67.87 299.33 229.13 230.70 246.82
Days Payable 128.83 123.08 156.66 165.81 118.80 177.08 264.68 248.24 484.96 372.26 254.69 361.87
Cash Conversion Cycle 61.68 75.00 27.12 -9.56 0.50 -9.54 0.27 -39.55 75.97 153.23 218.59 97.61
Working Capital Days 96.27 125.07 151.35 64.99 74.62 102.14 134.93 181.75 440.38 468.06 454.52 350.03
ROCE % 18.07% 14.32% 12.96% 17.98% 19.24% 19.40% 17.19% 12.08% 6.43% 4.64% 5.05% 7.04%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
73.41% 73.41% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20% 73.20%
9.00% 8.58% 8.58% 8.58% 8.58% 8.58% 8.58% 8.52% 8.52% 8.52% 8.52% 8.52%
17.60% 18.01% 18.21% 18.21% 18.22% 18.21% 18.21% 18.27% 18.27% 18.27% 18.27% 18.27%
No. of Shareholders 871041146386997591,0051,0401,2601,5792,2222,227

* 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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