H.G. Infra Engineering541019Quarterly results
Board approved Q2 and H1 results; auditor review unmodified, draws attention to CBI note
Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 4 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 9,735.87 | 9,045.03 | +7.6% | 11,005.85 | −11.5% |
| Total income | 9,974.68 | 9,179.79 | +8.7% | 11,060.51 | −9.8% |
| Profit before tax | 1,047.15 | 711.08 | +47.3% | (4.06) | — |
| Profit after tax | 797.61 | 518.36 | +53.9% | (445.18) | — |
| Total comprehensive income | 792.72 | 515.00 | +53.9% | (450.72) | — |
| Basic EPS | 12.24 | 7.95 | +54% | (6.83) | — |
- Total income YoY change
- 9,179.79 (+8.7%)
- Period
- September 30, 2026 ( Unaudited )
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: note 6 describes uncertainty related to outcome of search proceedings by CBI, Anti-Corruption Bureau, Patna; Holding Company states no impact on consolidated results at this stage.
Notes to the results
- Consolidated exceptional item of (1,467.81) Rs. Million in quarter ended June 30, 2026 (refer note 5), related to divestment of subsidiaries; nil in current quarter.
- CBI ACB Patna took four employees into custody on January 21, 2026 and searched offices and CMD residence; Rs 0.77 million cash confiscated; Company concluded no impact on results.
What the board decided
The Board of Directors met on November 03, 2026, from 02:30 p.m. to 04:05 p.m. IST, and approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026, as recommended and reviewed by the Audit Committee. It also took note of the Limited Review Report issued by the Joint Statutory Auditors on those results.
What the auditor's review says
- This is a review, not a full audit; the auditors state that they do not express an audit opinion.
- The conclusion is unmodified: nothing came to their attention that makes them believe the statement contains a material misstatement or omits a required disclosure.
- Paragraph 5 draws attention to note 5, which describes uncertainty related to the outcome of search proceedings conducted by the Central Bureau of Investigation, Anti-Corruption Bureau, Patna. The company's position is that there is no impact on the standalone financial results at this stage, and the auditors' conclusion is not modified for this matter.
Standalone results, quarter ended September 30, 2026 (Amount in Rs. Million)
- Revenue from operations: Rs. 8,832.19 Million, against Rs. 11,537.47 Million in the quarter ended September 30, 2025.
- Total income: Rs. 9,081.45 Million, against Rs. 11,703.15 Million.
- Profit before exceptional item and tax: Rs. 460.37 Million, against Rs. 897.88 Million.
- Exceptional item: Rs. (21.23) Million, against nil in the same quarter last year.
- Profit before tax: Rs. 439.14 Million, against Rs. 897.88 Million.
- Profit after tax: Rs. 321.31 Million, against Rs. 673.06 Million.
- Earnings per equity share (face value of Rs. 10 per share), basic and diluted: Rs. 4.93, against Rs. 10.33.
Half year and balance sheet
- For the six months ended September 30, 2026: Revenue from operations Rs. 17,904.55 Million, Total income Rs. 18,182.82 Million, Profit after tax Rs. 604.03 Million and Earnings per share Rs. 9.27. For the six months ended September 30, 2025 these were Rs. 28,629.90 Million, Rs. 28,818.34 Million, Rs. 1,927.75 Million and Rs. 29.58 respectively.
- Total equity as at September 30, 2026 was Rs. 33,052.12 Million, against Rs. 32,588.85 Million as at March 31, 2026.
- Total assets as at September 30, 2026 were Rs. 70,256.94 Million, against Rs. 72,136.73 Million as at March 31, 2026.
Subsidiary sales and exceptional items
Note 3 sets out a series of divestments of wholly owned subsidiaries
- H.G. Khammam Devarapalle PKG-2 Private Limited: 100% transferred on March 20, 2026 for Rs. 1,077.70 Million; gain of Rs. 419.36 Million recorded as an exceptional item.
- H.G. Khammam Devarapalle PKG-1 Private Limited: 49% transferred on March 30, 2026 for Rs. 682.72 Million, gain of Rs. 292.07 Million; the remaining 51% transferred on June 09, 2026 for Rs. 730.32 Million, gain of Rs. 323.73 Million.
- H.G. Raipur Visakhapatnam OD-6 Private Limited: 100% transferred on April 23, 2026 for Rs. 760.21 Million, gain of Rs. 41.60 Million.
- H.G. Raipur Visakhapatnam OD-5 Private Limited: 49% transferred on June 05, 2026 for Rs. 1,256.61 Million, with a loss of Rs. 64.21 Million; the remaining 51% transferred on July 23, 2026 for Rs. 1,353.55 Million, with a loss of Rs. 21.23 Million recorded as an exceptional item in the standalone financial results.
- Two subsidiaries were incorporated during the quarter.
The CBI matter in brief
- Four employees of the company were taken into custody on January 21, 2026, pursuant to an FIR dated January 21, 2026 invoking Sections 7, 7A, 8 and 9 of the Prevention of Corruption Act, 1988. Searches were also conducted at a few offices of the company and at the residence of the Chairman and Managing Director.
- Cash amounting to Rs. 0.77 Million confiscated from one of the four employees is reflected in the books and has been considered recoverable in the financial results. Cash amounting to Rs. 0.93 million confiscated from the CMD's residence belongs to his personal funds.
- The court has extended bail to all four employees, and no charge sheet has yet been shared by the investigating agency against the company or its employees in relation to the FIR.
- The company states that, based on management's assessment and the opinion of the lawyer and the external firm appointed to review the matter, there is no impact on these financial results and no impact on its operations and financial position.
Ratios disclosed with the results
- Debt equity ratio: 0.48 times; debt service coverage ratio: 0.96 times; interest service coverage ratio: 2.17 times; current ratio: 1.19 times.
- Operating margin: 11.86%; net profit margin: 3.64% for the quarter.
9,735.87 (Rs. in Million)Revenue from operations, latest quarter
Total income, year-ago quarter9,179.79 (Rs. in Million)
Total comprehensive income, year-ago quarter515.00 (Rs. in Million)
Also from H.G. Infra Engineering
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More numbers
- Revenue from operations - standalone, quarter ended Sep 30, 20268,832.19
- Total income - standalone, quarter ended Sep 30, 20269,081.45
- Profit after tax - standalone, quarter ended Sep 30, 2026321.31
- Earnings per equity share (basic and diluted), quarter4.93
- Revenue from operations - standalone, six months ended Sep 30, 202617,904.55
- Profit after tax - standalone, six months ended Sep 30, 2026604.03
- Cash confiscated from one employee (CBI matter)Rs 0.77 million
- Debt equity ratio, quarter ended Sep 30, 20260.48
- Total income, latest quarter9,974.68 (Rs. in Million)
- Total income, year-ago quarter9,179.79 (Rs. in Million)
- Total income, previous quarter11,060.51 (Rs. in Million)
- Total comprehensive income, latest quarter792.72 (Rs. in Million)
- Total comprehensive income, year-ago quarter515.00 (Rs. in Million)
- Total comprehensive income, previous quarter(450.72) (Rs. in Million)
- Profit after tax, latest quarter797.61 (Rs. in Million)
- Profit after tax, year-ago quarter518.36 (Rs. in Million)
- Profit after tax, previous quarter(445.18) (Rs. in Million)
- Revenue from operations, latest quarter9,735.87 (Rs. in Million)
- Revenue from operations, year-ago quarter9,045.03 (Rs. in Million)
- Revenue from operations, previous quarter11,005.85 (Rs. in Million)
- Profit before tax, latest quarter1,047.15 (Rs. in Million)
- Profit before tax, year-ago quarter711.08 (Rs. in Million)
- Profit before tax, previous quarter(4.06) (Rs. in Million)
Source: BSE · 3 Nov 2026
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