H.G. Infra FY26 profit falls 32.6% on lower revenue

H.G. Infra Engineering Limited reported a 32.6% decline in standalone net profit to ₹3,891.36 million for the financial year ended March 31, 2026, compared to ₹5,771.16 million in the previous year. Revenue from operations decreased by 6.4% to ₹56,666.77 million from ₹60,518.81 million in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026, in compliance with SEBI Listing Regulations. The transcript of the earnings conference call held on May 29, 2026, is available on the company's website.

The consolidated net profit for the year stood at ₹3,298.09 million, with revenue from operations of ₹52,346.74 million. The company's consolidated debt increased to ₹49,339.34 million as of March 31, 2026, from ₹40,918.64 million in the previous year. ICRA reaffirmed its rating of AA- (Positive) for the company's long-term fund-based facilities.

Order Book Position

The order book as of March 31, 2026, was ₹1,01,471 million. Following new orders worth ₹55,914 million received after the fiscal year-end, the total order book increased to ₹1,57,386 million. The order book was diversified across segments, with HAM Road projects accounting for 43.72%, followed by Railway at 27.84%, Energy Vertical at 19.02%, and EPC Road at 9.43%.

Financial Performance

Metric	Standalone FY26	Standalone FY25	Change
Revenue from operations	₹56,666.77 million	₹60,518.81 million	-6.4%
Net profit	₹3,891.36 million	₹5,771.16 million	-32.6%
EBITDA	₹7,334.15 million	₹9,507.21 million	-22.9%
Earnings per share	₹59.71	₹88.55	-

Corporate Governance

The Board recommended a final dividend of ₹2.00 per equity share, subject to shareholder approval. The record date for the final dividend is fixed as Wednesday, August 12, 2026, and the 24th Annual General Meeting is scheduled for Wednesday, August 19, 2026. Mr. Vikas Jain was appointed as the Chief Financial Officer and Key Managerial Personnel effective from July 13, 2026, while Mr. Rajeev Mishra ceased to serve as the Chief Financial Officer and assumed the role of Head Investor Relations and Corporate Affairs.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.19%	+1.94%	-4.80%	-24.79%	-45.35%	+45.73%

HG Infra Engineering has received the official appointed date from the National Highways Authority of India for its highway project on the Varanasi-Ranchi-Kolkata corridor. This milestone marks the formal commencement trigger for the project, with the appointed date set as May 30, 2026.

Project Overview

The project involves the development of a stretch along the Varanasi-Ranchi-Kolkata highway and represents a significant infrastructure undertaking. The key parameters of the project are outlined below:

Parameter:	Details
Project Name:	Varanasi-Ranchi-Kolkata Highway Project
Awarding Authority:	National Highways Authority of India
Project Cost:	₹1303.11 crore
Project Length:	35.6 km
Appointed Date:	May 30, 2026
Completion Timeline:	730 days from appointed date

Significance of the Appointed Date

The receipt of the appointed date is a critical contractual milestone in highway projects, as it officially sets the clock for the construction timeline. With the appointed date confirmed as May 30, 2026, HG Infra Engineering is now positioned to mobilise resources and commence execution on the 35.6 km stretch. The project is expected to be completed within 730 days from this date, in accordance with the terms set by the National Highways Authority of India.

At a project cost of ₹1303.11 crore, this order adds to HG Infra Engineering's infrastructure portfolio and reflects continued engagement with national highway development initiatives.