H

HEC Infra Projects Limited

HECPROJECTNSE
Market snapshot · 2026-08-10 22:57 UTC

134.94

+₹2.19 (+1.65%)

MARKET CAP

₹146.25 Cr

STOCK P/E

11.6x

52W HIGH

₹173.47

52W LOW

₹92.10

BOOK VALUE

₹60.68

EPS

₹11.63

ROE

21.20%

SECTOR

Industrials

DEBT/EQUITY

67.51

VOLUME

7,018

P/B RATIO

2.22x

PEG RATIO

Sector

Industrials

Themes

Electrical Components & Equipments
₹165.21₹148.36₹131.50₹114.65₹97.79VolumeAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

HEC Infra Projects is an Indian EPC contractor for electro-mechanical and instrumentation projects. Transmission and substations, water management, smart lighting, solar, and building systems drive its project revenue. Fire, security, air-conditioning, and electrification services extend its industrial and commercial offering. Revenue grew 57.4% year-on-year, but no major recent development provides a clear catalyst for further growth or margin improvement. Profit increased 36.3%, while declining margins indicate earnings are growing slower than revenue. ROE of 21.2% is supported by substantial leverage, with debt-to-equity at 67.51, increasing financial risk. At 11.4 times earnings, the shares appear undervalued against current growth, but execution and margin compression remain open questions. Neutral sentiment reflects limited near-term catalysts despite strong reported revenue expansion.

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for HECPROJECT.

Coverage check

Price Forecast

Current
₹134.94
High Target
Median Target
Low Target
Now₹134.94Aug '25Now12M Target
Price history (1Y)
Analyst target range

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹86.50 - ₹182.4180%
6M₹68.99 - ₹198.1780%
12M₹48.04 - ₹213.6680%
Realized vol: +58.2% · Drift: -11.7%

Revenue Forecast

₹ Cr
Mar '26Current₹51.0
Sep 2026 ETrend estimate range
High₹64.8Base₹60.0Low₹55.2
Jun '25: ₹28.0 · Sep '25: ₹40.0 · Dec '25: ₹57.0 · Mar '26: ₹51.0 · Sep '26: ₹60.0 · Dec '26: ₹85.5
Jun '25Sep '25Dec '25Mar '26Sep '26 EDec '26 E28.040.057.051.060.085.5
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Mar '26Current₹5.63
Sep 2026 ETrend estimate range
High₹3.46Base₹3.09Low₹2.72
Jun '25: ₹1.23 · Sep '25: ₹2.06 · Dec '25: ₹2.69 · Mar '26: ₹5.63 · Sep '26: ₹3.09 · Dec '26: ₹4.04
Jun '25Sep '25Dec '25Mar '26Sep '26 EDec '26 E1.232.062.695.633.094.04
PastCurrentTrend estimate: Low / Base / High
Analyst price target unavailable from FMP/yfinance. Analyst pillar unavailable from FMP/yfinance.
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
70%
Analyst Consensus
Unavailable

Analyst coverage unavailable

Mean upsideNot available

Fundamentals

Strong

Fundamentals institutional score is 81 using EVA spread proxy 9.2%; growth durability 62.1.

Valuation

Premium valuation

Valuation institutional score is 42 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Unavailable

No usable analyst target or recommendation data was available.

Technical Structure

Strong Trend

Technicals institutional score is 98 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 1 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. fundamentals and technical structure provide support, while valuation and market sentiment remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals StrongValuation Premium valuationTechnical Structure Strong TrendMarket Sentiment Neutral backdrop

Key Data Points

Mean Target PriceUnavailable
Mean UpsideNot available
Technical Score98%
Fundamental Score81%
Data CoverageMedium

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 16.2% above historical median. Valuation is stable — currently in the overvalued zone (z-score: +0.76). Confidence: 71%.

Forward Valuation Outlook

Forward outlook is unavailable because live next-12-month estimate data is not available for this ticker right now.

P/E
Overvalued

5Y Average

6.87

Current

11.41

Overvalued

11.17

Undervalued

7.67

EV/EBITDA
Strongly Overvalued

5Y Average

5.13

Current

8.67

Overvalued

7.56

Undervalued

2.31

P/B
Strongly Undervalued

5Y Average

2.47

Current

2.22

Overvalued

2.84

Undervalued

2.10

Peers & Comparison

Sector: Industrials · Theme: Electrical Components & Equipments

Electrical Components & Equipments Peers8 peers
Avg P/E: 48.9x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
AARTECH SOLONICS LIMITED
AARTECHElectrical Components & Equipments
+65.5%9.9%
37.0x
Undervalued
-24% vs avg
-26.8%
BHAGYANAGAR INDIA LIMITED
BHAGYANGRElectrical Components & Equipments
+45.2%2.4%
19.4x
Undervalued
-60% vs avg
+337.0%
KAYNES TECHNOLOGY IND LTD
KAYNESElectrical Components & Equipments
+42.6%8.9%
68.7x
Premium
+40% vs avg
-34.1%
POLYCAB INDIA LIMITED
POLYCABElectrical Components & Equipments
+39.0%9.2%
48.8x
Fair
0% vs avg
+36.4%
APAR INDUSTRIES LTD.
APARINDSElectrical Components & Equipments
+29.1%4.8%
56.2x
Premium
+15% vs avg
+90.7%
GRAPHITE INDIA LTD
GRAPHITEElectrical Components & Equipments
+26.6%7.0%
66.1x
Premium
+35% vs avg
+35.7%
ATLANTA ELECTRICALS LTD
ATLANTAELEElectrical Components & Equipments
+48.0%10.9%
55.0x
Fair
+12% vs avg
+95.2%
RAM RATNA WIRES LIMITED
RAMRATElectrical Components & Equipments
+88.6%2.1%
40.0x
Undervalued
-18% vs avg
+35.5%
WHY THESE PEERS

Comparable-scale peer data is limited — showing nearest stored business/industry peers instead of an empty comparison.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹51 CrMar 2026

Latest net profit

₹6.10 CrMar 2026

Latest EPS

₹5.63Mar 2026

Net margin

17.9%Mar 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q4 '25Q1 '26Q2 '26Q3 '26Q4 '260.0%5.0%10.0%15.0%20.0%0.00 Cr15 Cr30 Cr45 Cr60 Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q4 '25Q1 '26Q2 '26Q3 '26Q4 '260.00 Cr15 Cr30 Cr45 Cr60 Cr₹0₹2₹4₹6₹8
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOperatingprofitOther incomeInterestProfitbefore taxTax & otherNet Profit0.00 Cr15 Cr30 Cr45 Cr60 Cr

Latest reported period: Mar 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-45 Cr0.00 Cr45 Cr90 Cr135 Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +19.4713.2615.2717.0928.1818.0220.0427.5446.5027.9140.5057.3550.73
Expenses +18.8212.4513.9515.7626.4016.8018.8624.9138.7925.3136.9652.4441.63
Operating Profit0.650.811.321.331.781.221.182.637.712.603.544.919.10
OPM %3.34%6.11%8.64%7.78%6.32%6.77%5.89%9.55%16.58%9.32%8.74%8.56%17.94%
Other Income +1.070.090.083.010.180.230.700.251.010.010.320.420.79
Interest0.910.580.700.510.030.250.700.871.260.730.881.400.93
Depreciation0.040.060.060.050.000.100.100.09-0.100.14-0.070.040.04
Profit before tax0.770.260.643.781.931.101.081.927.561.743.053.898.92
Tax %38.96%26.92%0.00%0.00%86.53%22.73%-13.89%25.52%24.87%23.56%26.56%24.94%31.61%
Net Profit +0.460.200.643.780.260.841.231.435.671.332.232.926.10
EPS in Rs0.450.200.633.730.260.831.211.415.231.232.062.695.63
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +74.93%74.93%74.93%74.93%74.93%
DIIs +5.48%5.48%5.48%
Public +19.58%19.58%19.58%25.07%25.07%
Others0.01%0.01%0.01%
Jun 2026
Promoters +
Public +

Events Timeline

Copy of Newspaper Publication

Aug 03, 2026PDFCompany Reports Open

General Updates

Jul 28, 2026PDFCompany Reports Open

General Updates

Jul 23, 2026PDFCompany Reports Open

Outcome of Board Meeting

Jul 23, 2026PDFCompany Reports Open

Change in Auditors

Jul 23, 2026PDFCompany Reports Open