H.G. Infra Engineering Limited (HGINFRA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of H.G. Infra Engineering Limited ₹1,065, price ₹420, upside +153.5%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹357.74 – ₹1,818 · fair‑value band ₹797.81 – ₹1,331 · the ₹419.90 price screens below the ₹1,065 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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H.G. Infra Engineering Limited, together with its subsidiaries, engages in the engineering, procurement, and construction (EPC) business in India. The company provides EPC services on a turnkey basis and hybrid annuity model for civil construction and related infrastructure projects.
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H.G. Infra Engineering Limited, together with its subsidiaries, engages in the engineering, procurement, and construction (EPC) business in India. The company provides EPC services on a turnkey basis and hybrid annuity model for civil construction and related infrastructure projects. It also develops and maintains roads, highways, bridges, flyovers, railway networks and other infrastructure contract works, as well as railways, metro, solar power plant, and water sector projects. H.G. Infra Engineering Limited was incorporated in 2003 and is based in Jaipur, India.
Stock analysis
H.G. Infra Engineering Limited (HGINFRA) currently trades at ₹419.90, while our model-based Fair Value estimate is ₹1,065, implying the stock looks roughly 60.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,362 per share, and 12 of the 16 models we run sit above the ₹419.90 price.
Bear case: the Asset-Based group reads lowest at ₹335.66, and 4 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹797.81 (bear) to ₹1,331 (bull), the price of ₹419.90 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 26/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
H.G. Infra Engineering Limited reported revenue of ₹52.3B in FY2026 versus ₹36.6B in FY2022, a compound +9.3%/yr. Reported net income was ₹3.3B in FY2026, compounding −3.4%/yr from FY2022.
Key figures
Market cap ₹27.4B (≈ $285M) · P/E ratio 14.7 · P/S ratio 0.92 · EPS (TTM) ₹28.65 · Dividend yield 0.5% · Net margin 6.3% · Return on equity 10.6% · Return on assets (EBIT) 14.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 154%, HGINFRA screens cheaper than that median.
Fair Value models
Bear ₹797.81Fair Value ₹1,065Bull ₹1,331
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹13.58 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.3%
Start year 2021 (pandemic). Over 10 years: +21.6% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.9%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.9% vs 27.0%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 16%
Compare H.G. Infra Engineering Limited with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 779 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside+153.5% · Top 25%
Profitability
Return on equity (TTM)10.6% · Above median
Return on assets5.4% · Top 25%
Net margin (TTM)3.8% · Above median
Operating margin (TTM)23.5% · Top 25%
Growth and dividend
Revenue growth−25.7% · Bottom 25%
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.90× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "H.G. Infra Engineering Limited Fair Value". https://www.fairvalue-calculator.com/stock/HGINFRA
Frequently asked questions
Is H.G. Infra Engineering Limited (HGINFRA) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹1,065 versus a price of ₹419.90, about +154% upside (undervalued).
What is the fair value of HGINFRA?
Our model-based fair value for H.G. Infra Engineering Limited is ₹1,065 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹419.90.
What is the quality score of HGINFRA?
H.G. Infra Engineering Limited has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for H.G. Infra Engineering Limited (HGINFRA)?
Our model-based price target is the fair value of ₹1,065 (as of Oct 2, 2026) from 16 valuation models. Cautious scenario ₹797.81, optimistic scenario ₹1,331. It is a calculation from audited fundamentals, not an analyst target.
What is the H.G. Infra Engineering Limited stock forecast for 2026?
Our models put fair value at ₹1,065, about +154% upside versus a price of ₹419.90 (undervalued). Cautious scenario ₹797.81, optimistic scenario ₹1,331. The calculation is refreshed regularly with new filings.
What is the revenue of H.G. Infra Engineering Limited (HGINFRA)?
H.G. Infra Engineering Limited reported trailing-twelve-month revenue of about ₹48.5B (latest available figure, as of Oct 2, 2026).
Does H.G. Infra Engineering Limited pay a dividend?
H.G. Infra Engineering Limited currently shows a dividend yield of about 0.48% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of H.G. Infra Engineering Limited (HGINFRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For H.G. Infra Engineering Limited it is ₹1,065 per share (as of Oct 2, 2026), against a price of ₹419.90. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is H.G. Infra Engineering Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, HGINFRA trades below its calculated fair value: price ₹419.90, fair value ₹1,065, a gap of about +154% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HGINFRA?
No. The price is what the market pays today (₹419.90); the fair value is what the company's own numbers justify (₹1,065). For H.G. Infra Engineering Limited the two are ₹644.65 per share apart. That gap is exactly why we show both numbers side by side.
How much is H.G. Infra Engineering Limited worth?
The market values H.G. Infra Engineering Limited at about ₹27.4B (market capitalisation, as of Oct 2, 2026). Per share that is ₹419.90; our models calculate a fair value of ₹1,065 per share.
What do the bullish and bearish scenarios say about HGINFRA?
Our models span a range for H.G. Infra Engineering Limited: cautious scenario ₹797.81, base ₹1,065, optimistic ₹1,331 per share (as of Oct 2, 2026, price ₹419.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HGINFRA?
H.G. Infra Engineering Limited trades at a price-to-earnings ratio of 14.7 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,065 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.6, EV/EBITDA 5.2.
How solid is the balance sheet of H.G. Infra Engineering Limited (HGINFRA)?
Balance-sheet figures for H.G. Infra Engineering Limited (as of Oct 2, 2026): return on equity 10.6%, debt of 0.90 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is HGINFRA from its 52-week high?
H.G. Infra Engineering Limited trades at ₹419.90, about 56% below its 52-week high of ₹960.85 and at the low of ₹419.90 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,065 is for.
Which stocks are comparable to H.G. Infra Engineering Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is H.G. Infra Engineering Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹419.90, calculated fair value ₹1,065 (+154%), Quality Score 26/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HGINFRA calculated?
We run H.G. Infra Engineering Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,065, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1 % above its aggregate fair value. H.G. Infra Engineering Limited currently trades 61 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of H.G. Infra Engineering Limited (HGINFRA)?
The closing price on Oct 1, 2026 was ₹419.90. Our model-based fair value is ₹1,065, about +154% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with H.G. Infra Engineering Limited right now?
The large discount to fair value meets weak quality (26/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (₹797.81). The market is more pessimistic than our downside scenario.
Where does the earnings growth of H.G. Infra Engineering Limited (HGINFRA) come from?
Earnings per share at H.G. Infra Engineering Limited grew +35.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +24.6 %, EBIT margin +10.7 %, tax rate +1.5 %, residual (interest, one-offs) −3.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of H.G. Infra Engineering Limited
How large is the market capitalisation of H.G. Infra Engineering Limited (HGINFRA)?
The market capitalisation of H.G. Infra Engineering Limited is ₹27.4B (≈ $285M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of H.G. Infra Engineering Limited (HGINFRA)?
The price-to-sales ratio of H.G. Infra Engineering Limited is 0.92 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of H.G. Infra Engineering Limited (HGINFRA)?
Earnings per share at H.G. Infra Engineering Limited are ₹28.65 (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of H.G. Infra Engineering Limited (HGINFRA)?
The dividend yield of H.G. Infra Engineering Limited is 0.5% (payout 7.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of H.G. Infra Engineering Limited (HGINFRA)?
The net margin of H.G. Infra Engineering Limited is 6.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of H.G. Infra Engineering Limited (HGINFRA)?
The return on equity (ROE) of H.G. Infra Engineering Limited is 10.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of H.G. Infra Engineering Limited (HGINFRA)?
On an EBIT basis the return on assets of H.G. Infra Engineering Limited is 14.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of H.G. Infra Engineering Limited (HGINFRA)?
The operating margin of H.G. Infra Engineering Limited is 23.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at H.G. Infra Engineering Limited (HGINFRA)?
Revenue at H.G. Infra Engineering Limited is growing −25.7% versus a year earlier (3y avg +5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at H.G. Infra Engineering Limited (HGINFRA)?
Earnings per share at H.G. Infra Engineering Limited are growing −42.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does H.G. Infra Engineering Limited (HGINFRA) generate?
The free cash flow of H.G. Infra Engineering Limited is −₹11.4B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does H.G. Infra Engineering Limited (HGINFRA) carry?
The net debt of H.G. Infra Engineering Limited is ₹47.8B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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