Shares of HG Infra Engineering soared up to 7.7 per cent at Rs 1,877 per share in Monday’s early morning deals. This came after the company incorporated six new solar power units
SI Reporter New Delhi
Shares of HG Infra Engineering soared up to 7.7 per cent at Rs 1,877 per share in Monday’s early morning deals. This came after the company incorporated six new solar power units namely HG Kapuriya Solar Project, HG Jetpur Solar Project, HG Bhada Solar Project, HG Surnana Solar Project, HG Peelwa Solar Project, and HG Jakhan Solar Project.
The company in an exchange filing said that each incorporated company has authorised, subscribed and paid-up share capital of Rs 1,00,000 divided into 10,000 equity shares of Rs 10 each.
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The company further disclosed that the initial subscription to each units share capital includes Rs 51,000, which is divided into 5,100 equity shares of Rs 10 each, subscribed by HG Infra Engineering. Additionally, Rs 49,000, divided into 4,900 equity shares of Rs 10 each, was subscribed by HG Solar Projects Private Limited, a wholly-owned subsidiary of the company.
The HG Infra Engineering is engaged in engineering, procurement and construction (EPC) business including maintenance of roads, bridges, flyovers and other infrastructure contract works.
The firm reported its Q4 earnings with a net profit increase of 11.2 per cent at Rs 190 crore compared to Rs 170.9 crore in the previous year. Revenue also rose by 11.3 per cent to Rs 1,708.2 crore from Rs 1,535.4 crore year-on-year.
Additionally, earnings before interest, tax, depreciation and amortisation (Ebitda) showed a growth of 12.1 per cent at Rs 332.6 crore versus Rs 296.8 crore in the previous year. The margin stood at 19.5 per cent compared to 19.3 per cent year-on-year.
At 11:20 AM; the stock of the company was trading 5.06 per cent higher at Rs 1797.95. By comparison the BSE Sensex was up 0.21 per cent at 77,372 levels.
The stock of the company is presently trading at a price to earnings multiple of 20.45 with an earning per share of Rs 83.70.
