HDFC Securities has a buy rating on HG Infra Engineering in the long term with a target price of Rs 441 after attending the company’s analysts meet. Shares of HG Infra Engineering ended down 1% at Rs 236.50 on Tuesday while the BSE sensex closed 181.40 points down at 41,461.26.
Company Financials
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 479.35 crore, down -9.91% from last quarter sales of Rs 532.10 crore and up 11.62% from last year same quarter sales of Rs 429.43 crore. The company has reported net profit after tax of Rs 41.32 crore in the latest quarter.
The company’s top management includes Mr.Ashok Kumar Thakur, Mr.Dinesh Kumar Goyal, Mr.Harendra Singh, Mr.Onkar Singh, Mr.Vijendra Singh, Ms.Pooja Hemant Goyal. Company has Price Waterhouse & Co as its auditors. As on 30-09-2019, the company has a total of 65,171,111 shares outstanding.
Investment Rationale
The xompany has secured financial closure for all its HAM (hybrid annuity model) projects signaling the confidence of lending institutions in the financial health of the company, said HDFC Securities. The stock is trading at an attractive valuation of 7.1 imes FY21 estimated priceto-earnings ratio, said HDFC Securities.
Source: Economic Times
