The shares of HG Infra Engineering soared 5% high on 24 December after the company announced that HG Banaskantha BESS Pvt Ltd, a subsidiary, had signed a long-term battery energy storage purchase agreement with NTPC Vidyut Vyapar Nigam Limited for an 185 MW/370 MWh project.
In its regulatory filing, the company said, “We wish to inform you that the H.G. Banaskantha Bess Private Limited, a wholly owned subsidiary of HG Infra Engineering entered into a battery energy storage purchase agreement with NTPC Vidyut Vyapar Nigam Limited on 23 December, 2024 for procurement of 185 MW/ 370 MWH on a long term basis.”
In a different filing, the company also revealed that it had acquired 28.4 lakh equity shares of Rs 10 each, totalling Rs 2.84 crore of HG Jetpur Solar Project via the subscription of rights issue.
The September quarter of fiscal year 2025 (Q2FY25) saw HG Infra’s earnings drop 16%5 year-over-year (Y-o-Y) to Rs 80.7 crore from the September quarter of fiscal year 2024 (Q2FY24) to the second quarter of fiscal year 2024-25 (Q2FY25).
The company’s operating revenue decreased 5.5% year over year from Rs 954.5 crore in the September quarter of FY24 to Rs 902.4 crore in the September quarter of FY25. From Rs 220.1 crore in Q2FY24 to Rs 219.5 crore in Q2FY25, operating profits before interest, tax, depreciation, and amortization (Ebitda) fell by a negligible 0.3% annually.
Nonetheless, there was a 130 basis point (bps) rise in the EBITDA margin from 23% in the September quarter of the fiscal year 2024 to 24.3% in the September quarter of the fiscal year 2025.
HG Infra Engineering’s engineering, procurement, and construction (EPC) business includes contract maintenance for roads, bridges, flyovers, and other infrastructure.
At 1:02 pm, the shares of HG Infra Engineering were trading 1.93% higher at Rs 1,487.70 on NSE.
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