External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>We anticipate road construction companies under our coverage to report revenue, and APAT growth of 6% and 10%, while EBITDA is expected to be flattish YoY.</li><li>The project execution during the quarter moderated on the back of an election, shortage of labour, and extreme heat conditions.</li><li>We estimate EBITDA margins to be 14.5%, compared to 15.5% YoY. APAT is expected to be higher on account of exceptional gains during the quarter.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We anticipate road construction companies under our coverage to report revenue, and APAT growth of 6% and 10%, while EBITDA is expected to be flattish YoY.The project execution during the quarter moderated on the back of an election, shortage of labour, and extreme heat conditions.We estimate EBITDA margins to be 14.5%, compared to 15.5% YoY. APAT is expected to be higher on account of exceptional gains during the quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Bottom-Up

HG Infra Engineering Ltd / Equity Bottom-Up

<ul><li>Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.</li><li>Road EPC projects accounted for 38% of the total order book, while 40% originated from HAM road projects, 22% from Railway projects, and the remaining 10% from other projects.</li><li>A significant portion, 83%, of these projects are attributed to the Government of India, with the remaining 17% coming from the Private sector</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.Road EPC projects accounted for 38% of the total order book, while 40% originated from HAM road projects, 22% from Railway projects, and the remaining 10% from other projects.A significant portion, 83%, of these projects are attributed to the Government of India, with the remaining 17% coming from the Private sectorContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HG Infra Engineering Ltd - Robust Order Book & Strategic Diversification to Drive Growth

<ul><li>We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.</li><li>This expected growth can be attributed to improved execution by infrastructure companies, which consequently supported higher profitability during the quarter.</li><li>We estimate EBITDA margins to be 15%, compared to 14.5% QoQ and 15.5% YoY. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.This expected growth can be attributed to improved execution by infrastructure companies, which consequently supported higher profitability during the quarter.We estimate EBITDA margins to be 15%, compared to 14.5% QoQ and 15.5% YoY. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>H.G. Infra Engineering Limited (HGIEL), established in 2003, is an infrastructure company headquartered in Jaipur, Rajasthan.</li><li>The company specializes in construction, development, design, and management of various infrastructure projects.</li><li>Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

H.G. Infra Engineering Limited (HGIEL), established in 2003, is an infrastructure company headquartered in Jaipur, Rajasthan.The company specializes in construction, development, design, and management of various infrastructure projects.Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - H G Infra Engineering Ltd - 26 FEB 2024

<ul><li>During the quarter, road infrastructure companies under our coverage reported revenue growth of 7%.</li><li>EBITDA was flattish, while APAT grew by 4% against our expectation of 14%/11%/13% YoY, primarily owing to underperformance of GR Infra projects and KNR Construction Ltd.</li><li>EBITDA margins declined by 30bps/120bps QoQ/YoY. Overall performance remained below our expectations during the quarter.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

During the quarter, road infrastructure companies under our coverage reported revenue growth of 7%.EBITDA was flattish, while APAT grew by 4% against our expectation of 14%/11%/13% YoY, primarily owing to underperformance of GR Infra projects and KNR Construction Ltd.EBITDA margins declined by 30bps/120bps QoQ/YoY. Overall performance remained below our expectations during the quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

H.G. Infra Engineering Limited (HGIEL) provides infrastructure construction services. The Company offers highways, roads, bridges, runways, and civil construction, as well as land development, water pipelines, and rehabilitation and upgradation services. HGIEL serves customers in India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

HG Infra Engineering Ltd (HGINFRA IN)

Road Infra- Q1FY25 Result Preview

We estimate EBITDA margins to be 14.5%, compared to 15.5% YoY. APAT is expected to be higher on account of exceptional gains during the quarter.

Axis Direct

HG Infra Engineering Ltd - Robust Order Book & Strategic Diversification to Drive Growth

Healthy order book: As of 31st Mar’24, the company's total order book stood at Rs 12,400 Cr, equivalent to 2.4 times the FY24 revenue.

Axis Direct

Infra-Road Q4FY24 Earnings Preview

We anticipate road construction companies under our coverage to report revenue, EBITDA, and APAT growth of 11%, 8%, and 8% respectively YoY.

Axis Direct

Pick of the Week - H G Infra Engineering Ltd - 26 FEB 2024

Over the past 18 years, HGIEL has undergone a significant transformation, evolving from a sub-contractor to a prominent road developer.

Axis Direct

Top Sector Ideas - Infra Road Q3FY24

EBITDA was flattish, while APAT grew by 4% against our expectation of 14%/11%/13% YoY, primarily owing to underperformance of GR Infra projects and...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)