ICICI Direct's research report on HG Infra
HG Infra Engineering Ltd is a Jaipur (Rajasthan) based infrastructure company having primary focus on Roads and allied sectors. Additionally, the company is actively looking to diversify itself by targeting into railways and water infra segment. Reported 26% revenue CAGR over FY18-23 with improved operating margin. As on FY23, order book stood at Rs 12595 crore (2.9x book to TTM revenues).
Outlook
We maintain our BUY rating • We value HG Infra at Rs 1150 per share (on SoTP basis)
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