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H.G.INFRA ENGINEERING 2021-22 Annual Report Analysis
Sun, 17 Jul

H.G.INFRA ENGINEERING has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

H.G.INFRA ENGINEERING Income Statement Analysis

  • Operating income during the year rose 43.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 46.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 18.9% in FY22 as against 18.5% in FY21.
  • Depreciation charges increased by 0.8% and finance costs increased by 25.0% YoY, respectively.
  • Other income grew by 6.6% YoY.
  • Net profit for the year grew by 60.6% YoY.
  • Net profit margins during the year grew from 9.1% in FY21 to 10.1% in FY22.

H.G.INFRA ENGINEERING Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 26,097 37,514 43.7%
Other income Rs m 74 79 6.6%
Total Revenues Rs m 26,171 37,593 43.6%
Gross profit Rs m 4,832 7,096 46.8%
Depreciation Rs m 844 851 0.8%
Interest Rs m 942 1,177 25.0%
Profit before tax Rs m 3,120 5,146 64.9%
Tax Rs m 753 1,346 78.6%
Profit after tax Rs m 2,367 3,800 60.6%
Gross profit margin % 18.5 18.9
Effective tax rate % 24.1 26.2
Net profit margin % 9.1 10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

H.G.INFRA ENGINEERING Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 10 billion as compared to Rs 10 billion in FY21, thereby witnessing an decrease of -7.1%.
  • Long-term debt stood at Rs 10 billion as compared to Rs 6 billion during FY21, a growth of 73.4%.
  • Current assets rose 5% and stood at Rs 19 billion, while fixed assets rose 60% and stood at Rs 15 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 34 billion as against Rs 27 billion during FY21, thereby witnessing a growth of 24%.

H.G.INFRA ENGINEERING Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 10,626 14,360 35.1
 
Current Liabilities Rs m 10,444 9,700 -7.1
Long-term Debt Rs m 5,570 9,660 73.4
Total Liabilities Rs m 27,463 33,922 23.5
 
Current assets Rs m 18,168 19,081 5.0
Fixed Assets Rs m 9,295 14,841 59.7
Total Assets Rs m 27,463 33,922 23.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



H.G.INFRA ENGINEERING Cash Flow Statement Analysis

  • H.G.INFRA ENGINEERING's cash flow from operating activities (CFO) during FY22 stood at Rs -3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -656 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 3 billion, an improvement of 93% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -949 million from the Rs 1 billion net cash flows seen during FY21.

H.G.INFRA ENGINEERING Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 706 -3,218 -
Cash Flow from Investing Activities Rs m -1,026 -656 -
Cash Flow from Financing Activities Rs m 1,516 2,925 93.0%
Net Cash Flow Rs m 1,196 -949 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for H.G.INFRA ENGINEERING

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 58.3, an improvement from the EPS of Rs 36.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 535.8, stands at 9.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 0.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 7.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 400.4 575.6
TTM Earnings per share Rs 36.3 58.3
Diluted earnings per share Rs 36.3 58.3
Price to Cash Flow x 6.0 7.6
TTM P/E ratio x 8.2 9.2
Price / Book Value ratio x 1.5 2.5
Market Cap Rs m 15,677 35,303
Dividends per share (Unadj.) Rs 0.8 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for H.G.INFRA ENGINEERING

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during FY22, from 1.7x during FY21. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 5.4x during FY22, from 4.3x during FY21. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 26.5% during FY22, from 22.3% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 26.3% during FY22, from 25.1% during FY21. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company improved and stood at 14.7% during FY22, from 12.0% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.7 2.0
Debtors’ Days Days 81 62
Interest coverage x 4.3 5.4
Debt to equity ratio x 0.5 0.7
Return on assets % 12.0 14.7
Return on equity % 22.3 26.5
Return on capital employed % 25.1 26.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how H.G.INFRA ENGINEERING has performed over the last 5 years, please visit here.

H.G.INFRA ENGINEERING Share Price Performance

Over the last one year, H.G.INFRA ENGINEERING share price has moved up from Rs 495.1 to Rs 535.8, registering a gain of Rs 40.7 or around 8.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 27,634.8 (up 1.5%). Over the last one year it has moved up from 23,868.7 to 27,634.8, a gain of 3,766 points (up 15.8%).

Overall, the S&P BSE SENSEX is up 1.6% over the year.

(To know more, check out historical annual results for H.G.INFRA ENGINEERING and quarterly results for H.G.INFRA ENGINEERING)

Annual Report FAQs

What is the current share price of H.G.INFRA ENGINEERING?

H.G.INFRA ENGINEERING currently trades at Rs 909.7 per share. You can check out the latest share price performance of H.G.INFRA ENGINEERING here...

What was the revenue of H.G.INFRA ENGINEERING in FY22? How does it compare to earlier years?

The revenues of H.G.INFRA ENGINEERING stood at Rs 37,593 m in FY22, which was up 43.6% compared to Rs 26,171 m reported in FY21.

H.G.INFRA ENGINEERING's revenue has grown from Rs 13,983 m in FY18 to Rs 37,593 m in FY22.

Over the past 5 years, the revenue of H.G.INFRA ENGINEERING has grown at a CAGR of 28.0%.

What was the net profit of H.G.INFRA ENGINEERING in FY22? How does it compare to earlier years?

The net profit of H.G.INFRA ENGINEERING stood at Rs 3,800 m in FY22, which was up 60.6% compared to Rs 2,367 m reported in FY21.

This compares to a net profit of Rs 1,695 m in FY20 and a net profit of Rs 1,245 m in FY19.

Over the past 5 years, H.G.INFRA ENGINEERING net profit has grown at a CAGR of 45.7%.

What does the cash flow statement of H.G.INFRA ENGINEERING reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of H.G.INFRA ENGINEERING reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs -3,218 m as compared to Rs 706 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs -656 m as compared to Rs -1,026 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 2,925 m as compared to Rs 1,516 m in FY21.

Here's the cash flow statement of H.G.INFRA ENGINEERING for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-78656357706-3,218
From Investments-4,46293-854-1,026-656
From Financial Activity4,434-7827111,5162,925
Net Cashflow-106-332151,196-949

What does the Key Ratio analysis of H.G.INFRA ENGINEERING reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of H.G.INFRA ENGINEERING reveals:

  • Operating profit margins witnessed a fall and down at 18.9% in FY22 as against 18.5% in FY21.
  • Net profit margins grew from 9.1% in FY21 to 10.1% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.7 as compared to 0.5 in FY21.

Here's the ratio/financial analysis of H.G.INFRA ENGINEERING for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)14.915.116.018.518.9
Net Profit Margin (%)6.16.27.69.110.1
Debt to Equity Ratio (x)0.20.10.30.50.7

Read: Latest Annual Report Analysis of H.G.INFRA ENGINEERING

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