Shares of HG Infra Engineering climbed 6.5 percent to an intraday high of Rs 1,363 on November 25 after the company announced receiving a Letter of Award (LoA) from NTPC Vidyut Vyapar Nigam Ltd.
The contract, valued at approximately Rs 1,110 crore, involves the procurement and installation of 500 MW/1000 MWh standalone battery energy storage systems (BESS) across India, supported by viability gap funding. HG Infra will manage 185 MW/370 MWh of the total capacity at a tariff rate of Rs 2,38,000 per MW/month.
The project is expected to be completed within 1.5 years.
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At 10:50 AM, shares of HG Infra were trading nearly 5 percent higher at Rs 1,338. The stock has gained 23 percent year-to-date, outperforming the Nifty 50, which rose 12 percent over the same period. However, the stock has seen negative monthly returns since June.
In Q2FY25, the company reported a 16 percent year-on-year decline in net profit, which stood at Rs 80.7 crore compared to Rs 96.1 crore in the same period last year, according to a regulatory filing. Revenue from operations fell by 5.5 percent to Rs 902.4 crore, down from Rs 954.5 crore a year earlier.
On the operational front, EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) saw a marginal dip of 0.3 percent, reaching Rs 219.5 crore, compared to Rs 220.1 crore in Q2FY24.
However, the EBITDA margin improved to 24.3 percent from 23 percent in the previous year.
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