About
HEC Infra Projects Limited provides engineering, procurement, and construction for electro-mechanical projects in India. The company offers end-to-end services, such as design, supply, installation, and commissioning of overhead transmission lines, substations, underground cable lying, switchyard, water pumping stations, lighting systems, industrial and commercial electrification, solar PV plants, battery energy storage system, and mini/micro grid solar projects. It serves steel, chemical, cement, refineries, petrochemicals, gas and oil sector, textile, pharmaceuticals, power-generation plants, ports, commercial centers, banks, malls, multiplexes, call centers, software park, and SEZ industries. HEC Infra Projects Limited was founded in 1986 and is based in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap128 Cr
P/E10.10
Div Yield0.00 %
Book Value₹60.70
52w High₹160.00
52w Low₹92.10
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 31.12 | 50.73 | 57.35 | 40.50 | 27.91 | 46.50 | 27.54 | 20.04 | 18.02 | 28.18 | 17.09 | 15.27 | 13.26 |
| Expenses | 28.39 | 41.63 | 52.44 | 36.96 | 25.31 | 38.79 | 24.91 | 18.86 | 16.80 | 26.40 | 15.76 | 13.95 | 12.45 |
| Operating Profit | 2.73 | 9.10 | 4.91 | 3.54 | 2.60 | 7.71 | 2.63 | 1.18 | 1.22 | 1.78 | 1.33 | 1.32 | 0.81 |
| OPM % | 8.77 | 17.94 | 8.56 | 8.74 | 9.32 | 16.58 | 9.55 | 5.89 | 6.77 | 6.32 | 7.78 | 8.64 | 6.11 |
| Other Income | 0.29 | 0.79 | 0.42 | 0.32 | 0.01 | 1.01 | 0.25 | 0.70 | 0.23 | 0.18 | 3.01 | 0.08 | 0.09 |
| Depreciation | 0.04 | 0.04 | 0.04 | -0.07 | 0.14 | -0.10 | 0.09 | 0.10 | 0.10 | 0.00 | 0.05 | 0.06 | 0.06 |
| Interest | 1.42 | 0.93 | 1.40 | 0.88 | 0.73 | 1.26 | 0.87 | 0.70 | 0.25 | 0.03 | 0.51 | 0.70 | 0.58 |
| Profit before tax | 1.56 | 8.92 | 3.89 | 3.05 | 1.74 | 7.56 | 1.92 | 1.08 | 1.10 | 1.93 | 3.78 | 0.64 | 0.26 |
| Tax % | 12.82 | 31.61 | 24.94 | 26.56 | 23.56 | 24.87 | 25.52 | -13.89 | 22.73 | 86.53 | 0.00 | 0.00 | 26.92 |
| Net Profit | 1.37 | 6.10 | 2.92 | 2.23 | 1.33 | 5.67 | 1.43 | 1.23 | 0.84 | 0.26 | 3.78 | 0.64 | 0.20 |
| EPS in Rs | 1.26 | 5.63 | 2.69 | 2.06 | 1.23 | 5.23 | 1.41 | 1.21 | 0.83 | 0.26 | 3.73 | 0.63 | 0.20 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 176.00 | 112.00 | 74.00 | 52.00 | 44.00 | 38.00 | 39.00 | 80.00 | 82.00 | 83.00 | 116.00 | 125.00 |
| Expenses | 156.00 | 98.00 | 68.00 | 48.00 | 41.00 | 35.00 | 36.00 | 74.00 | 74.00 | 76.00 | 109.00 | 119.00 |
| Operating Profit | 20.00 | 14.00 | 5.00 | 3.00 | 3.00 | 2.00 | 3.00 | 6.00 | 8.00 | 8.00 | 7.00 | 6.00 |
| OPM % | 11.00 | 12.00 | 7.00 | 6.00 | 6.00 | 6.00 | 8.00 | 7.00 | 10.00 | 9.00 | 6.00 | 5.00 |
| Other Income | 2.00 | 1.00 | 3.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Interest | 4.00 | 3.00 | 2.00 | 3.00 | 3.00 | 3.00 | 3.00 | 4.00 | 4.00 | 3.00 | 3.00 | 3.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 18.00 | 12.00 | 7.00 | 1.00 | 1.00 | 0.00 | 1.00 | 3.00 | 5.00 | 5.00 | 4.00 | 4.00 |
| Tax % | 28.00 | 21.00 | 29.00 | 34.00 | 9.00 | -94.00 | 28.00 | 26.00 | 32.00 | 35.00 | 35.00 | 33.00 |
| Net Profit | 13.00 | 9.00 | 5.00 | 1.00 | 1.00 | 0.00 | 1.00 | 2.00 | 3.00 | 3.00 | 3.00 | 2.00 |
| EPS in Rs | 11.63 | 8.53 | 4.66 | 0.78 | 0.50 | 0.31 | 0.53 | 1.93 | 3.31 | 3.13 | 2.52 | 3.34 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.00 | 6.00 | 8.00 | 6.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11.00 | 11.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 |
| Reserves | 55.00 | 42.00 | 25.00 | 20.00 | 19.00 | 27.00 | 26.00 | 26.00 | 24.00 | 21.00 | 18.00 | 11.00 |
| Borrowings | 44.00 | 38.00 | 30.00 | 31.00 | 35.00 | 31.00 | 31.00 | 29.00 | 26.00 | 23.00 | 17.00 | 24.00 |
| Other Liabilities | 25.00 | 15.00 | 14.00 | 23.00 | 17.00 | 24.00 | 26.00 | 35.00 | 40.00 | 26.00 | 29.00 | 43.00 |
| Total Liabilities | 135.00 | 106.00 | 79.00 | 85.00 | 82.00 | 84.00 | 86.00 | 91.00 | 92.00 | 72.00 | 66.00 | 80.00 |
| Fixed Assets | 1.00 | 1.00 | 1.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 3.00 | 3.00 | 3.00 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Other Assets | 134.00 | 105.00 | 78.00 | 83.00 | 80.00 | 82.00 | 83.00 | 89.00 | 90.00 | 69.00 | 63.00 | 76.00 |
| Total Assets | 135.00 | 106.00 | 79.00 | 85.00 | 82.00 | 84.00 | 86.00 | 91.00 | 92.00 | 72.00 | 66.00 | 80.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 3.00 | -26.00 | 7.00 | 7.00 | -4.00 | 2.00 | -5.00 | -4.00 | -2.00 | 11.00 | -2.00 | 6.00 |
| Cash from Investing Activity | -5.00 | 0.00 | 4.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Financing Activity | 3.00 | 17.00 | -2.00 | -7.00 | 2.00 | -1.00 | 4.00 | 3.00 | 2.00 | -8.00 | 2.00 | -5.00 |
| Net Cash Flow | 0.00 | -9.00 | 9.00 | 0.00 | -1.00 | 0.00 | -1.00 | -1.00 | 0.00 | 3.00 | 0.00 | 1.00 |
| Free Cash Flow | 3.00 | -26.00 | 10.00 | 7.00 | -4.00 | 1.00 | -5.00 | -4.00 | -2.00 | 11.00 | -2.00 | 6.00 |
| CFO/OP % | 30.00 | -169.00 | 169.00 | 221.00 | -133.00 | 64.00 | -138.00 | -60.00 | -2.00 | 163.00 | -5.00 | 94.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55.00 | 155.00 | 74.00 | 226.00 | 243.00 | 296.00 | 262.00 | 141.00 | 217.00 | 146.00 | 96.00 | 77.00 |
| Inventory Days | 102.00 | 78.00 | 103.00 | 247.00 | 231.00 | 229.00 | 299.00 | 68.00 | 48.00 | 22.00 | 23.00 | 79.00 |
| Days Payable | 39.00 | 93.00 | 99.00 | 362.00 | 255.00 | 372.00 | 485.00 | 248.00 | 265.00 | 177.00 | 119.00 | 166.00 |
| Cash Conversion Cycle | 118.00 | 139.00 | 79.00 | 111.00 | 219.00 | 153.00 | 76.00 | -40.00 | 0.00 | -10.00 | 0.00 | -10.00 |
| Working Capital Days | 40.00 | 44.00 | 192.00 | 306.00 | 361.00 | 357.00 | 305.00 | 112.00 | 61.00 | 24.00 | 33.00 | 11.00 |
| ROCE % | 21.00 | 19.00 | 8.00 | 7.00 | 5.00 | 5.00 | 6.00 | 12.00 | 17.00 | 19.00 | 19.00 | 18.00 |
Corporate Actions
4 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 23 Jul 2024 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2023 | — | — | — | Annual General Meeting |
| Other | 17 Jul 2023 | — | — | — | Extra Ordinary General Meeting |
| Other | 22 Sep 2022 | — | — | — | Annual General Meeting |
Announcements
5 filingsAnnual Reports
Credit Ratings
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Rating update6 Oct 2025 from infomerics
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Rating update20 Apr 2023 from care
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Rating update16 Aug 2022 from care
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Rating update13 Oct 2021 from care
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Rating update5 Oct 2020 from care
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Rating update4 Aug 2020 from care