HGINFRAH.G. Infra Engineering Ltd.
H.G. Infra Engineering Q2 FY27 Results: Consolidated Net Profit ₹79.76 Crore on Total Income of ₹997 Crore
- Earnings
- Infrastructure EPC
Reviewed byRachit TripathiBlacklitt Research
H.G. Infra Engineering (NSE: HGINFRA) said in a filing on 03 Nov 2026 that for the quarter ended 30 Sep 2026 its consolidated total income was ₹997.47 crore and net profit ₹79.76 crore. Standalone total income was ₹908.15 crore and net profit ₹32.13 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹997.47 crore, up 8.7% YoY and down 9.8% QoQ
- Net profit and EPS: ₹79.76 crore, up 53.9% YoY; basic EPS ₹12.24 against ₹7.95
- Finance costs: ₹116.05 crore, up 7.3% YoY and 11.6% of total income
- Exceptional item: ₹146.78 crore in the quarter ended 30 Jun 2026
Standalone
The company on its own, without its subsidiaries
- Total income: ₹908.15 crore, down 22.4% YoY and down 0.2% QoQ
- Net profit and EPS: ₹32.13 crore, down 52.3% YoY; basic EPS ₹4.93 against ₹10.33
- Other income: ₹24.93 crore, up 50.4% YoY and 2.7% of total income
- Exceptional item: ₹30.11 crore in the quarter ended 30 Jun 2026; a loss of ₹2.12 crore in the quarter ended 30 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 997.47 | 917.98 | +8.7% | 1,106.05 | -9.8% | |
| Revenue from operations | 973.59 | 904.50 | +7.6% | 1,100.59 | -11.5% |
| Other income | 23.88 | 13.48 | +77.2% | 5.47 | +336.9% |
| 79.76 | 51.84 | +53.9% | -44.52 | n/a | |
| Profit before tax | 104.72 | 71.11 | +47.3% | -0.41 | n/a |
| Finance costs | 116.05 | 108.11 | +7.3% | 117.62 | -1.3% |
| Depreciation | 52.63 | 40.05 | +31.4% | 45.04 | +16.8% |
| Tax expense | 24.95 | 19.27 | +29.5% | 44.11 | -43.4% |
| Net profit margin | 8.00% | 5.65% | +2.35 pp | -4.02% | +12.02 pp |
| EPS, basic (₹) | 12.24 | 7.95 | +54.0% | -6.83 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose faster than income. Net profit was ₹79.76 crore against ₹51.84 crore a year earlier, up 53.9%, while total income rose 8.7% to ₹997.47 crore from ₹917.98 crore. Profit before tax rose 47.3% to ₹104.72 crore, and tax expense rose 29.5% to ₹24.95 crore.
Revenue from operations rose 7.6% to ₹973.59 crore, slower than other income, which rose 77.2% to ₹23.88 crore. Other income is 2.4% of total income this quarter.
The comparison quarter ended 30 Jun 2026 carries an exceptional item. The consolidated statement shows an exceptional loss of ₹146.78 crore in that quarter, and a net loss of ₹44.52 crore. Note 4 records a loss of ₹48.50 crore on the disposal of 49% of H.G. Raipur Visakhapatnam OD-5 Private Limited, and also records an impairment charge of ₹27.53 crore relating to H.G. Raipur Visakhapatnam AP-1 Private Limited.
Finance costs rose 7.3% to ₹116.05 crore from ₹108.11 crore, and depreciation rose 31.4% to ₹52.63 crore from ₹40.05 crore. Finance costs are 11.6% of total income this quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 908.15 | 1,170.32 | -22.4% | 910.14 | -0.2% | |
| Revenue from operations | 883.22 | 1,153.75 | -23.4% | 907.24 | -2.6% |
| Other income | 24.93 | 16.57 | +50.4% | 2.90 | +759.2% |
| 32.13 | 67.31 | -52.3% | 28.27 | +13.6% | |
| Profit before tax | 43.91 | 89.79 | -51.1% | 36.59 | +20.0% |
| Finance costs | 50.88 | 39.31 | +29.4% | 42.95 | +18.5% |
| Depreciation | 32.74 | 34.03 | -3.8% | 30.50 | +7.3% |
| Tax expense | 11.78 | 22.48 | -47.6% | 8.32 | +41.7% |
| Net profit margin | 3.54% | 5.75% | -2.21 pp | 3.11% | +0.43 pp |
| EPS, basic (₹) | 4.93 | 10.33 | -52.3% | 4.34 | +13.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income fell 22.4% to ₹908.15 crore from ₹1,170.32 crore a year earlier. Revenue from operations fell 23.4% to ₹883.22 crore, while other income rose 50.4% to ₹24.93 crore, which is 2.7% of total income this quarter.
Standalone net profit fell 52.3% to ₹32.13 crore from ₹67.31 crore, more than profit before tax, which fell 51.1% to ₹43.91 crore from ₹89.79 crore. Tax expense was ₹11.78 crore against ₹22.48 crore a year earlier.
Against the quarter ended 30 Jun 2026, standalone net profit rose 13.6% from ₹28.27 crore, while total income fell 0.2%.
The standalone statement shows an exceptional item of ₹30.11 crore in the quarter ended 30 Jun 2026 and a loss of ₹2.12 crore in the quarter ended 30 Sep 2026. The notes tie the September loss to the transfer on 23 Jul 2026 of the remaining 51% of H.G. Raipur Visakhapatnam OD-5 Private Limited, for consideration of ₹135.35 crore.
Inference
The board approved the results on 03 Nov 2026 after Audit Committee review, and the joint statutory auditors issued limited review reports on both statements. Both reports draw attention to the CBI and Anti-Corruption Bureau search proceedings in Patna; the conclusions are not modified in respect of that matter, and the company says there is no impact on these results at this stage.
The cash flow statements show a dividend paid of ₹13.03 crore in the six months to 30 Sep 2026, gross of TDS. The notes describe the divestment of five wholly owned subsidiaries, approved by the board on 13 Aug 2025, with transfers recorded from March to July 2026.
What the company plans for the remaining investment classified as held for sale is not stated in the filing.
Filed with BSE on . Reference: Original filing (PDF)
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