HECPROJECT

HEC Infra Projects Limited

EPC contractor for electrical and power infrastructure projects

Industrials›Construction›Construction›Civil Construction

hecprojects.in(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹113.87
Market cap
124 Cr
Stock P/E
9.8
P/B
1.88
Dividend yield
2.1%
ROE (FY26)
19.2%
ROCE (FY26)
19.6%
Operating margin (FY26)
11.3%
Debt / equity (FY26)
0.68
OCF / EBITDA (FY26)
15.1%
OCF / EBITDA (3Y)
-40.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

HEC Infra Projects is an engineering contractor that designs, supplies, installs and commissions electrical and power infrastructure.

Company snapshot

75thBy market cap

Ranked among 90 companies in Civil Construction.

What we see

Positives
  • ✓Return on equity of 19.2% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales15 Cr17 Cr28 Cr18 Cr20 Cr28 Cr46 Cr28 Cr40 Cr57 Cr51 Cr31 Cr
Operating expenses (approx.)14 Cr16 Cr26 Cr17 Cr19 Cr25 Cr38 Cr25 Cr37 Cr52 Cr42 Cr28 Cr
EBITDA1 Cr1 Cr2 Cr1 Cr1 Cr3 Cr9 Cr3 Cr4 Cr5 Cr9 Cr3 Cr
OPM %8.7%7.8%6.3%6.7%5.9%9.5%19.2%9.3%8.7%8.5%17.9%8.8%
Other income0.08 Cr3 Cr0.18 Cr0.23 Cr0.70 Cr0.25 Cr-0.13 Cr0.0063 Cr0.32 Cr0.42 Cr0.79 Cr0.29 Cr
Interest0.70 Cr0.51 Cr0.03 Cr0.25 Cr0.70 Cr0.87 Cr1 Cr0.73 Cr0.88 Cr1 Cr0.93 Cr1 Cr
Depreciation0.06 Cr0.05 Cr0.0007 Cr0.10 Cr0.10 Cr0.09 Cr-0.10 Cr0.14 Cr-0.07 Cr0.04 Cr0.04 Cr0.04 Cr
Profit before tax0.64 Cr4 Cr2 Cr1 Cr1 Cr2 Cr8 Cr2 Cr3 Cr4 Cr9 Cr2 Cr
Tax %0.0%0.0%86.6%23.5%-13.8%25.5%24.9%23.6%26.7%24.9%31.6%12.6%
Net profit0.64 Cr4 Cr0.26 Cr0.84 Cr1 Cr1 Cr6 Cr1 Cr2 Cr3 Cr6 Cr1 Cr
EPS (₹)₹0.64₹3.73₹0.26₹0.82₹1.21₹1.41₹5.58₹1.23₹2.06₹2.69₹5.63₹1.26

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales38 Cr44 Cr52 Cr74 Cr112 Cr176 CrSign in free for the trailing twelve months
Operating expenses (approx.)35 Cr41 Cr48 Cr68 Cr98 Cr156 CrSign in free for the trailing twelve months
EBITDA2 Cr3 Cr3 Cr5 Cr14 Cr20 CrSign in free for the trailing twelve months
OPM %6.1%6.0%6.4%7.3%12.4%11.4%Sign in free for the trailing twelve months
Other income0.71 Cr0.75 Cr1 Cr3 Cr1 Cr2 CrSign in free for the trailing twelve months
Interest3 Cr3 Cr3 Cr2 Cr3 Cr4 CrSign in free for the trailing twelve months
Depreciation0.23 Cr0.23 Cr0.22 Cr0.17 Cr0.14 Cr0.15 CrSign in free for the trailing twelve months
Profit before tax0.16 Cr0.66 Cr1 Cr7 Cr12 Cr18 CrSign in free for the trailing twelve months
Tax %-93.8%22.1%34.5%28.3%21.0%28.5%Sign in free for the trailing twelve months
Net profit0.31 Cr0.51 Cr0.79 Cr5 Cr9 Cr13 CrSign in free for the trailing twelve months
EPS (₹)₹0.00₹0.51₹0.78₹4.65₹9.08₹11.63Sign in free for the trailing twelve months
Dividend payout %—504.7%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital2 Cr10 Cr10 Cr10 Cr11 Cr11 Cr
Reserves27 Cr19 Cr20 Cr25 Cr42 Cr55 Cr
Borrowings30 Cr33 Cr29 Cr30 Cr38 Cr44 Cr
Other liabilities26 Cr19 Cr25 Cr14 Cr15 Cr25 Cr
Total liabilities84 Cr82 Cr85 Cr79 Cr106 Cr135 Cr
Fixed assets (net)2 Cr2 Cr2 Cr1 Cr1 Cr1 Cr
CWIP0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Investments0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances——29 Cr23 Cr2 Cr0 Cr
Inventories15 Cr16 Cr16 Cr10 Cr10 Cr42 Cr
Trade receivables30 Cr29 Cr30 Cr15 Cr48 Cr27 Cr
Cash & bank4 Cr3 Cr3 Cr4 Cr0.93 Cr1 Cr
Other assets33 Cr33 Cr5 Cr25 Cr45 Cr64 Cr
Total assets84 Cr82 Cr85 Cr79 Cr106 Cr135 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity2 Cr-4 Cr8 Cr7 Cr-26 Cr3 Cr
Cash from investing0.07 Cr0.26 Cr0.20 Cr4 Cr1 Cr-5 Cr
Cash from financing-1 Cr2 Cr-8 Cr-2 Cr16 Cr3 Cr
Net cash flow0.26 Cr-1 Cr0.22 Cr9 Cr-9 Cr0.47 Cr
Free cash flow (OCF − Capex)1 Cr-4 Cr8 Cr7 Cr-26 Cr3 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %4.8%5.2%7.4%13.1%16.3%19.6%
ROE %1.1%1.8%2.6%13.8%17.4%19.2%
Debtor days2952422127415455
Inventory days1441301115032116
Days payable234143163483845
Cash conversion cycle20622816077148127
OCF / EBITDA %70.9%-134.7%254.1%131.3%-186.4%15.1%
OCF / EBITDA % (3 years)——78.6%105.2%-46.7%-40.3%
Debt / equity1.031.140.980.870.710.68
Current ratio2.102.532.343.601.301.51
Net debt / EBITDA11.13—8.014.952.652.13