HG Infra Engineering Ltd. witnessed a 5% surge in its share price on April 22, 2025, climbing to ₹1,197 after the company was declared a qualified bidder for a significant battery energy storage project by Gujarat Urja Vikas Nigam Ltd. (GUVNL).
The project involves the installation of a Standalone Battery Energy Storage System (BESS) with a capacity of 300 MW/600 MWh under the Tariff-Based Global Competitive Bidding (Phase VI) framework, signaling HG Infra’s entry into the fast-growing clean energy infrastructure space.
Strong Market Performance and Analyst Confidence
This development comes amid a strong week for HG Infra's stock, which has rallied 12% over the last seven days, outperforming the 8% gain in the Nifty 50 index. Adding to the positive momentum, Axis Securities recently reiterated a “Buy” rating, setting a target price of ₹1,201 per share.
Solid Fundamentals and Order Pipeline
As of December 31, 2024, HG Infra boasted an order book of ₹15,080 crore, nearly three times its FY24 revenue. Of this, 94% comprises government-backed projects, providing robust revenue visibility for the next 2–3 years.
The company secured fresh orders worth ₹2,195 crore in Q4FY25, with future projections indicating that 35–40% of its order book will be driven by non-road infrastructure projects, including energy, water, and urban development.
Looking ahead, HG Infra aims to bag new contracts worth ₹10,000–12,000 crore in FY26, while analysts expect a CAGR of 15% in revenue, 12% in EBITDA, and 15% in PAT over FY25–FY27.
Disclaimer
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