Skip to content
HEC Infra Projects logo

HEC Infra Projects

HECPROJECT NSE
₹101.54

Close ·

P/E
8.72
View as Markdown
MCP
Close 4 Nov 2026 ₹101.54 −37.93 −27.2% 1Y
Start ₹139.47

Key Fundamentals

MicrocapConstructionIndustrials

Price-based figures at the close · EPS basis: Standalone · TTM

ROCE
21.40%
Debt to Equity
0.67
EPS (TTM)
₹11.64
Book Value
₹60.65
Market Cap
—
P/E (TTM)
8.72
P/B
1.67
ROE
21.20%
Dividend Yield
0.00%
EBITDA
₹21.70 Cr
52W High
₹160.50
52W Low
₹92.10

Tapetide Score

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

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
53
Average
Returns, margins, earnings quality 22% weight
Valuation
61
Good
Cheap vs sector & own history 24% weight
Growth
93
Strong
Sales & profit trajectory 9% weight
Financial Health
49
Average
Solvency, leverage, coverage 9% weight
Momentum
30
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

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

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 110% CAGR over last 5 years
  • Debtor days have improved from 96.2 to 55.4 days.
  • Company's working capital requirements have reduced from 92.2 days to 40.4 days

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1243
OscillatorsBullish243
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
34.80
Neutral
MACD (12,26,9)
−3.70
Bearish
SMA (50)
113.25
Bearish
SMA (200)
120.60
Bearish

As of

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+4.26%
5Y+35.88%
3Y+50.14%
1Y+57.14%
TTM+47.31%

Net profit

Net profit growth by window
10Y+15.79%
5YZero base
3Y+135.13%
1Y+44.44%
TTM+30.64%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+8.45%
3Y−24.61%
1YTurned positive
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+5.33 pp
5Y+6.10 pp
3Y+5.59 pp
1Y−1.14 pp
TTM−0.28 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹83.00 Cr
Mar 2018₹82.00 Cr
Mar 2019₹80.00 Cr
Mar 2020₹39.00 Cr
Mar 2021₹38.00 Cr
Mar 2022₹44.00 Cr
Mar 2023₹52.00 Cr
Mar 2024₹74.00 Cr
Mar 2025₹112 Cr
Mar 2026₹176 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹3.00 Cr
Mar 2018₹3.00 Cr
Mar 2019₹2.00 Cr
Mar 2020₹1.00 Cr
Mar 2021₹0.00 Cr
Mar 2022₹1.00 Cr
Mar 2023₹1.00 Cr
Mar 2024₹5.00 Cr
Mar 2025₹9.00 Cr
Mar 2026₹13.00 Cr

Quarterly Results

₹ Cr
HECPROJECT quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
13.26
15.27
17.09
28.18
18.02
20.04
27.54
46.5
27.91
40.5
57.35
50.73
31.12
43.64
Expenses
12.45
13.95
15.76
26.4
16.8
18.86
24.91
38.79
25.31
36.96
52.44
41.63
28.39
39.22
Operating Profit
0.81
1.32
1.33
1.78
1.22
1.18
2.63
7.71
2.6
3.54
4.91
9.1
2.73
4.41
OPM %
6.11%
8.64%
7.78%
6.32%
6.77%
5.89%
9.55%
16.58%
9.32%
8.74%
8.56%
17.94%
8.77%
10.11%
Other Income
0.09
0.08
3.01
0.18
0.23
0.7
0.25
1.01
0.01
0.32
0.42
0.79
0.29
—
Interest
0.58
0.7
0.51
0.03
0.25
0.7
0.87
1.26
0.73
0.88
1.4
0.93
1.42
1.57
Depreciation
0.06
0.06
0.05
0
0.1
0.1
0.09
−0.1
0.14
−0.07
0.04
0.04
0.04
0.04
PBT
0.27
0.64
3.78
1.93
1.1
1.08
1.92
7.56
1.74
3.05
3.88
8.92
1.57
—
Tax %
26.92%
0%
0%
86.53%
22.73%
−13.89%
25.52%
24.87%
23.56%
26.56%
24.94%
31.61%
12.82%
—
Net Profit
0.2
0.64
3.78
0.26
0.84
1.23
1.43
5.67
1.33
2.23
2.92
6.1
1.37
2.24
EPS (₹)
0.2
0.63
3.73
0.26
0.83
1.21
1.41
5.23
1.23
2.06
2.69
5.63
1.26
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
HECPROJECT profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
125
116
83
82
80
39
38
44
52
74
112
176
180
Expenses
119
109
76
74
74
36
35
41
48
68
98
156
159
Operating Profit
6
7
8
8
6
3
2
3
3
5
14
20
20
OPM %
5%
6%
9%
10%
7%
8%
6%
6%
6%
7%
12%
11%
11%
Other Income
1
1
1
1
1
1
1
1
1
3
1
2
2
Interest
3
3
3
4
4
3
3
3
3
2
3
4
5
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
4
4
5
5
3
1
0
1
1
7
12
18
17
Tax %
33%
35%
35%
32%
26%
28%
−94%
9%
34%
29%
21%
28%
—
Net Profit
2
3
3
3
2
1
0
1
1
5
9
13
13
EPS (₹)
3.34
2.52
3.13
3.31
1.93
0.53
0.31
0.5
0.78
4.66
8.53
11.63
11.64
Div. Payout %
6%
8%
6%
6%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
HECPROJECT balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1
2
2
2
2
2
2
10
10
10
11
11
Reserves
11
18
21
24
26
26
27
19
20
25
42
55
Borrowings
24
17
23
26
29
31
31
35
31
30
38
44
Other Liabilities
43
29
26
40
35
26
24
17
23
14
18
25
Total Liabilities
80
66
72
92
91
86
84
82
85
79
109
135
Fixed Assets
3
3
3
2
2
2
2
2
2
1
1
1
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
1
0
0
0
0
0
0
0
0
0
0
0
Other Assets
76
63
69
90
89
83
82
80
83
78
108
134
Total Assets
80
66
72
92
91
86
84
82
85
79
109
135

Cash Flow

₹ Cr
HECPROJECT cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
6
−2
11
−2
−4
−5
2
−4
7
7
−33
3
Investing
0
0
0
0
0
0
0
0
0
4
7
−5
Financing
−5
2
−8
2
3
4
−1
2
−7
−2
15
3
Net Cash Flow
1
0
3
0
−1
−1
0
−1
0
9
−11
0
Free Cash Flow
6
−2
11
−2
−4
−5
1
−4
7
10
−33
3
CFO/OP
94
−5
163
−2
−60
−138
64
−133
221
169
−218
30

Ratios

HECPROJECT financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
77
96
146
217
141
262
296
243
226
74
159
55
Inventory Days
79
23
22
48
68
299
229
231
247
103
77
155
Days Payable
166
119
177
265
248
485
372
255
362
99
100
60
Cash Conversion Cycle
−10
0
−10
0
−40
76
153
219
111
79
136
151
Working Capital Days
11
33
24
61
112
305
357
361
306
192
44
40
ROCE %
18%
19%
19%
17%
12%
6%
5%
5%
7%
8%
19%
21%

Insights

Beta

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

Log in to view HEC Infra Projects insights

64 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.93%
  • Public 22.09%
  • Others 2.97%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Documents

Frequently Asked Questions about HEC Infra Projects

What does HEC Infra Projects Ltd do?
HEC Infra Projects Ltd is an Ahmedabad- based, asset-light EPC contractor providing design, engineering, procurement, installation, testing, commissioning and O&M for the transmission /substations/cabling, water pumping, solar, lighting and ELV systems.
Where is HEC Infra Projects Ltd (HECPROJECT) listed?
HEC Infra Projects Ltd trades as HECPROJECT on the NSE.
Which sector does HEC Infra Projects Ltd belong to?
HEC Infra Projects Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the PE ratio of HEC Infra Projects Ltd?
HEC Infra Projects Ltd trades at a PE ratio of 8.72 as of 4 Nov 2026, on earnings per share of ₹11.64, against a book value of ₹60.65 per share.
What is the 52-week high and low of HEC Infra Projects Ltd?
Over the last 52 weeks HEC Infra Projects Ltd has traded between ₹92.1 and ₹160.5 as of 4 Nov 2026.
What is the Return on Equity (ROE) of HEC Infra Projects Ltd?
HEC Infra Projects Ltd reported a return on equity of 21.20%. Its debt-to-equity ratio is 0.67.

Company Information

HEC Infra Projects Ltd is an Ahmedabad- based, asset-light EPC contractor providing design, engineering, procurement, installation, testing, commissioning and O&M for the transmission /substations/cabling, water pumping, solar, lighting and ELV systems. Capabilities include projects up to 220-kV switchyards/transmission lines, 66-kV underground cabling, AIS substations, SCADA and associated civil & instrumentation works.

Website hecprojects.in
CEO Mr. Gaurang Parmananddas Shah
Employees 45
Listed 30 Dec 2021
Face Value ₹10

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/HECPROJECT.md for HEC Infra Projects Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Construction & Infrastructure stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month