Highway Infrastructure

Highway Infrastructure Limited held its first earnings conference call since listing, discussing results for the quarter and half-year ended September 30, 2025. The company reported total revenue of Rs. 115.3 crores in Q2 FY26 compared to Rs. 119.4 crores in Q2 FY25. EBITDA increased significantly by 253% year-on-year to Rs. 13.7 crores against Rs. 3.9 crores in Q2 FY25. For H1 FY26, total revenue was Rs. 227.8 crores against Rs. 226.8 crores in H1 FY25, with EBITDA growing 102% to Rs. 25.8 crores. Profit after tax surged 515% year-on-year to Rs. 9.7 crores in Q2 FY26. The company achieved its highest ever order book of Rs. 775 crores, up 46% in H1 FY26. Highway Infrastructure operates across three verticals: EPC Infrastructure, Tollway Collection, and Real Estate. The company commenced toll collection at multiple new plazas and secured new EPC contracts. Management expects 60-65% of annual revenue to be booked in Q3 and Q4. The debt-to-equity ratio stands at 0.28x with net cash equivalents of Rs. 52.8 crores. The company targets EBITDA margins of 8-12% for FY27-28 and aims for an order book of Rs. 1,000 crores by year-end.

Highway Infrastructure Limited submitted its monitoring agency report for IPO fund utilization during the quarter ended September 30, 2025. The company raised Rs. 97.52 crores through fresh issue with net proceeds of Rs. 81.85 crores after deducting issue expenses of Rs. 15.67 crores. Out of the net proceeds, Rs. 44.72 crores was utilized during the quarter - Rs. 43.84 crores for working capital requirements and Rs. 0.88 crores for general corporate purposes. The monitoring agency Infomerics Valuation and Rating Limited reported no deviation from disclosed objects and no material deviations from expenditures mentioned in the offer document. Unutilized funds of Rs. 37.13 crores were deployed in fixed deposits with HDFC Bank earning returns between 5% to 5.25%. The company's statutory auditors certified that funds were utilized as per the prospectus with no material deviations observed.

Highway Infrastructure Limited submitted its investor presentation for Q2 FY2025-26 results. The company reported total revenue of Rs. 227.8 crores for H1FY26, up 0.4% year-on-year. Profit after tax increased significantly to Rs. 16.9 crores in H1FY26 from Rs. 5.8 crores in H1FY25, representing 191.8% growth. EBITDA doubled to Rs. 25.8 crores in H1FY26 from Rs. 12.7 crores in H1FY25. The company's order book grew 46% to Rs. 775 crores by September 2025 from Rs. 530 crores in March 2025. Highway Infrastructure operates across three business segments: EPC Infrastructure (77% of revenue), Tollway Collection (21%), and Real Estate (2%). The company has presence across 11 states and 1 union territory with 90 completed projects and 25 ongoing projects. Return on equity improved to 19.1% in FY25. The debt-to-equity ratio decreased to 0.61x, and net worth increased to Rs. 210.6 crores by September 2025.