HEC Infra Projects Ltd (NSE:HECPROJECT)
₹ 116.8 -2.5 (-2.1%) Market Cap: 1.27 Bil Enterprise Value: 1.54 Bil PE Ratio: 10.06 PB Ratio: 1.92 GF Score: 84/100

Q2 2026 HEC Infra Projects Ltd Earnings Call Transcript

Nov 17, 2025 / 10:30AM GMT

Key Points

Positve
  • HEC Infra Projects Ltd (NSE:HECPROJECT) reported a significant year-on-year revenue growth of 96.84% for Q2 FY26, reaching INR40.82 crore.
  • The company's net profit increased by 82.10% year-on-year, demonstrating strong financial performance.
  • HEC Infra Projects Ltd secured five new projects worth INR62.53 crore, enhancing its order book and future revenue visibility.
  • The company is diversifying into emerging sectors such as battery energy storage systems and solar integrated power infrastructure.
  • HEC Infra Projects Ltd is actively exploring backward integration opportunities to enhance its value chain and improve margins.
Negative
  • The company's loans and advances increased significantly from INR7 crore to INR30 crore, raising questions about working capital management.
  • HEC Infra Projects Ltd faces challenges with delayed payments from government projects, impacting cash flow.
  • There is a high concentration of revenue from Gujarat, indicating potential geographic risk.
  • The company has a significant portion of its order book dependent on government contracts, which can be subject to bureaucratic delays.
  • HEC Infra Projects Ltd's operating cash flow was significantly negative in FY25, raising concerns about liquidity management.
Operator

Ladies and gentlemen, good day and welcome to HEC Infra Projects Limited Q2 FY26 results conference call hosted by Kirin Advisors Private Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Parth Acharya from Kirin Advisors. Thank you and over to you, sir.

Parth Acharya

Thank you. On behalf of Kirin Advisors, I welcome you all to the conference call of HEC Infra Projects Limited. From the Management Team, we have Mr. Rahul Shah, Whole-Time Director.

With that, I now hand over the call to Mr. Rahul Shah.

Rahul Shah
HEC Infra Projects Ltd - Executive Director

Good afternoon, everyone. It is my pleasure to welcome all our shareholders, analysts, and wellwishers to the Q2 fY26 earnings conference call of HEC Infra Projects Limited. I thank you for joining us today and for your continued trust in our company's journey. The second quarter of FY26 was yet another period of steady growth and strong operational execution for HEC Infra. We are

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
7-Day Free Trial · Cancel Anytime
Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot