ICICI Direct has given Buy recommendation for HG Infra Engineering with a target price of Rs. 735 in its research report issued on May 26, 2022

ICICI Direct’s research report on HG Infra Engineering

HG Infra Engineering is a Jaipur (Rajasthan) based infrastructure company with primary focus on roads and allied sectors. Additionally, the company is actively looking to diversify itself by targeting the railways, airport and water infra segments. Reported 27.9% revenue CAGR during FY17-22; operating margin improved from 14.9% in FY17 to 16.2% in FY22 • Prudent management, lean balance sheet position, superior return ratios.

Outlook

We maintain BUY rating on the company. We value HG Infra at a target price of Rs 735.

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