ICICI Direct has given Buy recommendation for HG Infra Engineering with a target price of Rs. 885 in its research report issued on Nov 11, 2021

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 segment. Reported 28.8% revenue CAGR during FY16-21; operating margin improved consistently from 11.0% in FY16 to 16.2% in FY21 Proficient management, net debt free, superior return ratio (RoCE/RoE: >20%)


We maintain BUY rating on the company We value HG Infra at a target price of Rs 885


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