HEC Infra Projects Ltd

HEC Infra Projects Ltd

₹ 117 4.99%
14 Jun 3:52 p.m.
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.

  • Market Cap 119 Cr.
  • Current Price 117
  • High / Low 124 / 33.4
  • Stock P/E 25.2
  • Book Value 34.4
  • Dividend Yield 0.00 %
  • ROCE 13.3 %
  • ROE 14.5 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 177 to 74.4 days.

Cons

  • Stock is trading at 3.41 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 6.59% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.3.35 Cr.

* 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.

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
14.93 7.08 10.44 7.76 18.45 11.93 8.83 11.50 19.47 13.26 15.27 17.09 28.18
14.57 6.50 9.59 7.48 17.53 11.09 7.99 10.53 18.82 12.45 13.95 15.76 26.40
Operating Profit 0.36 0.58 0.85 0.28 0.92 0.84 0.84 0.97 0.65 0.81 1.32 1.33 1.78
OPM % 2.41% 8.19% 8.14% 3.61% 4.99% 7.04% 9.51% 8.43% 3.34% 6.11% 8.64% 7.78% 6.32%
0.48 0.10 0.10 0.08 0.47 0.08 0.09 0.10 1.07 0.09 0.08 3.01 0.18
Interest 0.83 0.52 0.72 0.33 1.02 0.70 0.64 0.97 0.91 0.58 0.70 0.51 0.03
Depreciation 0.04 0.06 0.06 0.06 0.06 0.06 0.07 0.05 0.04 0.06 0.06 0.05 0.00
Profit before tax -0.03 0.10 0.17 -0.03 0.31 0.16 0.22 0.05 0.77 0.26 0.64 3.78 1.93
Tax % 666.67% 30.00% 29.41% 33.33% -6.45% 25.00% 0.00% 20.00% 38.96% 26.92% 0.00% 0.00% 86.53%
0.17 0.08 0.12 -0.02 0.33 0.12 0.23 0.04 0.46 0.20 0.64 3.78 0.26
EPS in Rs 0.17 0.08 0.12 -0.02 0.33 0.12 0.23 0.04 0.45 0.20 0.63 3.73 0.26
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
59.71 60.46 124.96 115.92 83.48 82.29 79.99 39.22 37.54 43.71 51.68 73.79
56.29 56.39 118.66 109.32 75.82 74.34 74.22 36.09 35.24 41.07 48.37 68.53
Operating Profit 3.42 4.07 6.30 6.60 7.66 7.95 5.77 3.13 2.30 2.64 3.31 5.26
OPM % 5.73% 6.73% 5.04% 5.69% 9.18% 9.66% 7.21% 7.98% 6.13% 6.04% 6.40% 7.13%
0.93 0.50 0.63 0.79 0.71 0.86 1.24 0.86 0.71 0.75 1.34 3.35
Interest 2.67 2.79 2.87 3.13 3.21 3.56 4.05 2.99 2.62 2.60 3.23 1.82
Depreciation 0.18 0.18 0.37 0.32 0.32 0.31 0.31 0.25 0.23 0.24 0.22 0.17
Profit before tax 1.50 1.60 3.69 3.94 4.84 4.94 2.65 0.75 0.16 0.55 1.20 6.62
Tax % 29.33% 36.88% 33.06% 35.28% 34.71% 32.19% 26.04% 28.00% -93.75% 9.09% 34.17% 28.85%
1.07 1.02 2.47 2.55 3.16 3.34 1.95 0.54 0.31 0.51 0.79 4.72
EPS in Rs 3.06 1.46 3.34 2.52 3.13 3.31 1.93 0.53 0.31 0.50 0.78 4.66
Dividend Payout % 9.81% 20.59% 6.03% 7.96% 6.42% 6.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 2%
5 Years: -2%
3 Years: 25%
TTM: 43%
Compounded Profit Growth
10 Years: 17%
5 Years: 20%
3 Years: 148%
TTM: 497%
Stock Price CAGR
10 Years: %
5 Years: 35%
3 Years: 83%
1 Year: 196%
Return on Equity
10 Years: 8%
5 Years: 5%
3 Years: 7%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 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 8.51 8.69 10.84 18.00 20.92 24.26 25.97 26.50 26.81 19.22 20.01 24.72
Preference Capital 0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
21.79 26.46 23.98 17.36 22.66 26.04 28.61 31.27 31.11 35.13 31.30 30.21
15.02 19.83 43.34 28.74 26.08 40.10 34.61 25.77 24.32 17.41 23.35 13.93
Total Liabilities 46.02 56.38 79.65 66.13 71.69 92.43 91.22 85.57 84.27 81.90 84.80 79.00
3.20 3.16 2.99 2.73 2.52 2.44 2.24 2.22 2.19 2.02 1.93 1.46
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
Investments 0.00 0.00 0.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
42.82 53.22 75.98 63.40 69.17 89.99 88.98 83.35 82.08 79.88 82.87 77.54
Total Assets 46.02 56.38 79.65 66.13 71.69 92.43 91.22 85.57 84.27 81.90 84.80 79.00

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0.24 4.28 5.90 -1.69 10.80 -1.75 -4.06 -4.56 1.63 -3.56 8.41 7.04
0.39 -0.26 0.04 0.25 0.24 0.08 0.21 0.04 0.07 0.26 0.20 3.60
-1.97 -3.76 -5.33 1.90 -8.07 1.54 2.89 3.88 -1.44 1.95 -8.39 -2.09
Net Cash Flow -1.34 0.26 0.61 0.45 2.96 -0.12 -0.96 -0.63 0.26 -1.35 0.22 8.55

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 168.59 143.20 77.05 95.97 145.60 217.25 140.82 261.61 296.36 242.58 212.66 74.39
Inventory Days 29.49 40.57 79.19 23.34 21.95 47.69 67.87 299.33 229.13 230.70 246.82 103.21
Days Payable 123.08 156.66 165.81 118.80 177.08 264.68 248.24 484.96 372.26 254.69 361.87 98.51
Cash Conversion Cycle 75.00 27.12 -9.56 0.50 -9.54 0.27 -39.55 75.97 153.23 218.59 97.61 79.10
Working Capital Days 125.07 151.35 64.99 74.62 102.14 134.93 181.75 440.38 468.06 454.52 350.03 219.47
ROCE % 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.

Click on the line-items to see the names of individual entities.

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