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Hindustan Construction Company

HCC NSE
₹18.72 +1.20 (+6.85%)
P/E
29.25
View as Markdown
MCP
Close 4 Nov 2026 ₹18.72 −3.87 −17.1% 1Y
Start ₹22.59

Key Fundamentals

MicrocapConstructionIndustrials

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
24.80%
Debt to Equity
0.48
EPS (TTM)
₹0.64
Book Value
₹8.12
Market Cap
—
P/E (TTM)
29.25
P/B
2.31
ROE
11.90%
Dividend Yield
0.00%
EBITDA
₹677 Cr
52W High
₹28.50
52W Low
₹13.65
Day Range
₹17.33 – ₹18.79
Volume
2,48,09,284

Peer Comparison

Industrials › Construction › Civil Construction

Hindustan Construction Company peer comparison
L&T
₹3,944.4030.37₹5,47,193 Cr4.800.96%15.90%14.60%₹3,00,904 Cr₹20,895 Cr
Rail Vikas Nigam
₹191.2344.37₹39,292 Cr4.060.93%9.02%10.80%₹20,825 Cr₹897 Cr
Cemindia Projects
₹1,310.1037.40₹23,549 Cr6.360.24%27.80%32.80%₹10,205 Cr₹602 Cr
Kalpataru Projects International
₹1,366.1020.52₹22,726 Cr3.000.83%13.70%18.30%₹27,380 Cr₹1,129 Cr
NBCC
₹77.7428.37₹20,666 Cr6.950.20%20.40%29.30%₹12,756 Cr₹766 Cr
IRB Infrastructure Developers
₹16.7921.25₹19,929 Cr0.940.31%4.29%7.47%₹7,686 Cr₹954 Cr
Engineers India
₹300.8521.55₹16,653 Cr5.060.52%23.40%30.40%₹3,878 Cr₹784 Cr
Hindustan Construction Company (this company)
₹18.7229.25₹4,660 Cr2.310.00%11.90%24.80%₹3,872 Cr₹166 Cr
Median 8 companies₹246.0428.81₹21,696 Cr4.430.42%14.80%21.55%₹11,481 Cr₹841 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

37 Weak

Data confidence 98/100

pledge:82%

Category scores

Quality
85
Strong
Returns, margins, earnings quality 22% weight
Valuation
56
Good
Cheap vs sector & own history 24% weight
Growth
6
Poor
Sales & profit trajectory 9% weight
Financial Health
24
Poor
Solvency, leverage, coverage 9% weight
Momentum
24
Poor
Trend strength, vol-adjusted 12% weight
Ownership
17
Poor
FII/DII/promoter flows 24% weight
Capped: a governance trigger overrides the fundamentals here (pledge>75% ≤ 40).

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company has delivered good profit growth of 20.2% CAGR over last 5 years

Weaknesses

9
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -0.54%
  • The company has delivered a poor sales growth of -13.6% over past five years.
  • Promoter holding is low: 16.2%
  • Promoters have pledged 82.4% of their holding.
  • Earnings include an other income of Rs.192 Cr.
  • Company has high debtors of 207 days.
  • Company's cost of borrowing seems high

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
48.16
Neutral
MACD (12,26,9)
−0.81
Bullish
SMA (50)
20.74
Bearish
SMA (200)
20.60
Bearish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−7.37%
5Y−13.61%
3Y−21.70%
1Y−29.15%
TTM−20.66%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3YTurned to profit
1Y+46.90%
TTM0.00%

Operating cash flow

Operating cash flow growth by window
10Y+26.21%
5Y+20.71%
3Y+282.02%
1Y+565.67%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.92 pp
5Y+11.36 pp
3Y+9.47 pp
1Y+4.70 pp
TTM−0.20 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹9,867 Cr
Mar 2018₹10,132 Cr
Mar 2019₹10,544 Cr
Mar 2020₹9,444 Cr
Mar 2021₹8,248 Cr
Mar 2022₹10,668 Cr
Mar 2023₹8,270 Cr
Mar 2024₹7,007 Cr
Mar 2025₹5,603 Cr
Mar 2026₹3,970 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹983 Cr
Mar 2018−₹1,090 Cr
Mar 2019−₹50.00 Cr
Mar 2020₹197 Cr
Mar 2021−₹610 Cr
Mar 2022₹563 Cr
Mar 2023−₹28.00 Cr
Mar 2024₹478 Cr
Mar 2025₹113 Cr
Mar 2026₹166 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹662 Cr −2.1% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Hindustan Construction Company (HCC) trades at a market cap of ₹6,525 Cr with a PE of 39.5x. The company has shown strong profit growth (19% CAGR over 5 years) but continues to report declining revenues with a -14% compounded sales CAGR over 5 years, reflecting a business that is shrinking in top-line terms while improving profitability through operational restructuring.

Bull Case 7
  • Strong profit growth with 19% CAGR over 5 years and 32% CAGR over 3 years, indicating improving operational efficiency
  • Company has actively reduced debt, improving its balance sheet position from historically elevated leverage levels
  • TTM profit growth of 5,428% suggests a significant turnaround in earnings from a low base
  • Stock has delivered 17% CAGR over 5 years and 14% CAGR over 3 years, outperforming the sector on a medium-term basis
  • Price-to-book ratio of 3.06x with last year ROE of 9% indicates the market is pricing in future earnings improvement
  • India's infrastructure capex push provides a structural demand tailwind for construction companies in the industrials sector
  • Long operating history in large infrastructure projects (dams, tunnels, bridges) gives HCC technical expertise that is difficult to replicate
Bear Case 8
  • Compounded sales have declined at -14% CAGR over 5 years and -29% TTM, signaling a severely shrinking revenue base
  • Promoter holding is extremely low at 16.7% with 79.7% of promoter shares pledged, creating significant governance and margin-call risk
  • High debtor days of 207 indicates severe working capital stress and potential collection issues from government clients
  • Company has low interest coverage ratio despite debt reduction, suggesting borrowing costs remain burdensome relative to operating income
  • Zero dividend yield despite reporting repeated profits, indicating cash is being consumed by debt servicing rather than returned to shareholders
  • High cost of borrowing reflects elevated credit risk perception by lenders, limiting financial flexibility
  • PE of 39.5x is expensive for a company with negative sales growth, suggesting valuation is stretched relative to fundamentals
  • 10-year sales CAGR of -7% and stock CAGR of only 4% show prolonged structural underperformance over a full market cycle

This is AI-generated analysis, not financial advice. Do your own due diligence.

Quarterly Results

₹ Cr
HCC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,927
1,833
1,474
1,773
1,816
1,407
1,007
1,374
1,091
961
925
992
993
Expenses
1,630
1,579
1,236
1,891
1,664
1,165
1,090
1,085
912
815
858
821
889
Operating Profit
296
254
239
−118
152
242
−83
288
179
146
67
171
105
OPM %
15%
14%
16%
−7%
8%
17%
−8%
21%
16%
15%
7%
17%
11%
Other Income
30
35
199
710
33
46
589
18
27
23
76
31
62.08
Interest
246
256
146
165
146
159
183
111
122
120
123
105
87
Depreciation
30.26
28
30
18
26
26
90
22
12
6
5
5
6
PBT
51
5
261
410
14
102
234
173
73
42
15
92
74
Tax %
−4%
161%
30%
40%
118%
38%
117%
48%
31%
−13%
48%
36%
31%
Net Profit
53
−3
182
246
−2
64
−39
90
51
48
8
59
51
EPS (₹)
0.22
−0.01
0.75
1.02
−0.01
0.26
−0.15
0.34
0.19
0.18
0.03
0.23
0.2

Profit & Loss

₹ Cr
HCC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
10,353
8,540
9,867
10,132
10,544
9,444
8,248
10,668
8,270
7,007
5,603
3,970
3,872
Expenses
9,108
7,500
9,103
9,401
9,763
8,600
7,857
9,480
7,722
6,336
4,965
3,330
3,384
Operating Profit
1,244
1,040
764
731
781
844
391
1,188
548
671
639
639
488
OPM %
12%
12%
8%
7%
7%
9%
4.7%
11%
7%
10%
11%
16%
13%
Other Income
164
126
−37
−105
−452
487
−122
615
497
974
648
80
192
Interest
1,280
1,220
1,543
1,525
808
817
1,001
1,036
1,012
813
600
469
434
Depreciation
327
250
206
201
177
152
136
138
128
105
164
27
22
PBT
−199
−304
−1,022
−1,100
−657
362
−867
628
−94
726
523
223
224
Tax %
14%
76%
−4%
−1%
−92%
46%
−30%
10%
−71%
34%
78%
26%
—
Net Profit
−208
−537
−983
−1,090
−50
197
−610
563
−28
478
113
166
166
EPS (₹)
−1.04
−2.42
−3.15
−3.37
−0.21
0.81
−2.52
2.33
−0.12
1.98
0.43
0.63
0.64
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
HCC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
65
78
101
102
151
151
151
151
151
151
182
262
Reserves
459
−560
−369
−1,170
−1,151
−910
−1,469
−810
−866
−320
724
1,865
Borrowings
11,880
9,495
9,780
9,456
4,108
4,253
4,777
2,018
5,512
2,223
1,679
1,019
Other Liabilities
6,606
6,718
7,557
8,198
7,802
8,707
9,322
12,835
8,381
7,005
5,578
5,341
Total Liabilities
19,010
15,730
17,069
16,586
10,910
12,200
12,781
14,194
13,178
9,059
8,163
8,487
Fixed Assets
4,494
1,865
1,713
1,729
575
771
866
723
623
449
242
247
CWIP
3,135
1,696
1,890
1,714
169
178
2
1
0
1
7
19
Investments
273
601
476
417
181
356
418
59
79
246
110
198
Other Assets
11,108
11,568
12,990
12,726
9,985
10,895
11,496
13,411
12,475
8,364
7,804
8,023
Total Assets
19,010
15,730
17,069
16,586
10,910
12,200
12,781
14,194
13,178
9,059
8,163
8,487

Cash Flow

₹ Cr
HCC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
702
87
48
1,441
183
538
348
947
16
91
134
892
Investing
−843
180
−59
71
−5
−18
−83
−208
448
536
−90
−365
Financing
−181
−397
46
−1,336
−312
−514
101
−660
−603
−810
109
−697
Net Cash Flow
−322
−131
34
176
−133
5
366
79
−139
−183
153
−170
Free Cash Flow
−232
14
−180
1,498
158
471
287
892
−189
171
140
825
CFO/OP
54
8
9
200
37
71
60
87
2
19
22
140

Ratios

HCC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
26
25
85
89
123
73
199
72
119
115
156
207
Inventory Days
2,442
876
1,093
813
283
201
—
—
179
183
52
92
Days Payable
1,248
1,073
1,451
1,185
1,229
1,301
—
—
1,093
1,035
841
1,405
Cash Conversion Cycle
1,220
−172
−273
−282
−824
−1,027
199
72
−795
−738
−633
−1,106
Working Capital Days
−58
−58
−23
−150
−43
−127
−72
−40
−24
22
16
7
ROCE %
8%
7%
6%
7%
12%
29%
11%
50%
16%
21%
25%
25%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Hindustan Construction Company insights

69 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 57.34%
  • Promoters 16.17%
  • Others 13.01%
  • FIIs 10.26%
  • DIIs 3.22%

82.43% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Hindustan Construction Company

What does Hindustan Construction Company Ltd do?
Incorporated in 1926, Hindustan Construction Company Limited (HCC) is the flagship company of Hindustan Construction Company Group (HCC Group) and is involved in engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro,nuclear and thermal power plants…
Where is Hindustan Construction Company Ltd (HCC) listed?
Hindustan Construction Company Ltd trades as HCC on the NSE and under code 500185 on the BSE.
Which sector does Hindustan Construction Company Ltd belong to?
Hindustan Construction Company Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the PE ratio of Hindustan Construction Company Ltd?
Hindustan Construction Company Ltd trades at a PE ratio of 29.25 as of 4 Nov 2026, on earnings per share of ₹0.64, against a book value of ₹8.12 per share.
What is the 52-week high and low of Hindustan Construction Company Ltd?
Over the last 52 weeks Hindustan Construction Company Ltd has traded between ₹13.65 and ₹28.5 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Hindustan Construction Company Ltd?
Hindustan Construction Company Ltd reported a return on equity of 11.90%. Its debt-to-equity ratio is 0.48.

Company Information

Incorporated in 1926, Hindustan Construction Company Limited (HCC) is the flagship company of Hindustan Construction Company Group (HCC Group) and is involved in engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro,nuclear and thermal power plants, expressways and roads, marine works, water supply, irrigation systems and industrial buildings across the country.

Website hccindia.com
CEO Mr. Arjun Dhawan
Employees 3,031
Listed 1 Apr 2003
Face Value ₹1

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