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HEC Infra ProjectsNSE:HECPROJECT +0.93%84 Debt-to-Equity is 0.68 as of Mar. 2026, which is 33% below its 10-year median of 1.01. GuruFocus rates NSE:HECPROJECT with a GF Score™ of 84/100 and a GF Value™ of ₹209.10 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,616 Construction companies, HEC Infra Projects ranks worse than 65.59% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for HEC Infra Projects's Debt-to-Equity or its related term are showing as below:
NSE:HECPROJECT'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.68 Med: 1.01 Max: 1.2
Current: 0.68
During the past 12 years, the highest Debt-to-Equity Ratio of HEC Infra Projects was 1.20. The lowest was 0.68. And the median was 1.01.
NSE:HECPROJECT's Debt-to-Equity is ranked worse than 65.59% of 1616
companies
in the Construction industry
Industry Median: 0.4
vs NSE:HECPROJECT: 0.68
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
HEC Infra Projects Debt-to-Equity Related Terms
HEC Infra Projects Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for HEC Infra Projects's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:HECPROJECT vs PWR, FIX, EME: Debt-to-Equity Comparison
For the Engineering & Construction subindustry, HEC Infra Projects's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HEC Infra Projects Debt-to-Equity vs Construction Industry
For the Construction industry and Industrials sector, HEC Infra Projects's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where HEC Infra Projects's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HEC Infra Projects (NSE:HECPROJECT) has a Debt-to-Equity of 0.68 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on HEC Infra Projects and its competitors. This is 33% below median its historical median of 1.01. Over the past decade, HEC Infra Projects' Debt-to-Equity has ranged from 0.68 to 1.20. According to the industry distribution chart, HEC Infra Projects ranks #1060 out of 1616 companies in the Construction industry, placing it in the top 65.6%.
Is HEC Infra Projects' Debt-to-Equity too high?
HEC Infra Projects' current Debt-to-Equity of 0.68 is 33% below median its 10-year median of 1.01. Over the past 10 years, this metric has ranged from a low of 0.68 to a high of 1.20. The Construction industry median Debt-to-Equity is 0.40. HEC Infra Projects' value of 0.68 is 70% above this industry median. Based on the distribution chart, HEC Infra Projects ranks #1060 out of 1616 companies in the Construction industry, which is below the industry midpoint. Overall, HEC Infra Projects has a GF Score™ of 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HEC Infra Projects' Debt-to-Equity compare to PWR and FIX?
According to the Construction industry distribution chart, HEC Infra Projects ranks #1060 out of 1616 companies for Debt-to-Equity. This places HEC Infra Projects in the lower half of its industry. The industry median Debt-to-Equity is 0.40. HEC Infra Projects' value of 0.68 is 70% above this benchmark. Historically, HEC Infra Projects' own Debt-to-Equity has ranged from 0.68 to 1.20 over the past decade. While the company's 10-year median is 1.01 vs. the industry median of 0.40, HEC Infra Projects has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Construction company?
The median Debt-to-Equity among Construction companies is 0.40, based on 1,616 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HEC Infra Projects's current Debt-to-Equity of 0.68 is 70% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on HEC Infra Projects and its competitors. For the Construction industry, the median Debt-to-Equity is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HEC Infra Projects's current Debt-to-Equity is 0.68, which is 33% below median its own 10-year median of 1.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HEC Infra Projects stock overvalued right now?
Based on GuruFocus' analysis, HEC Infra Projects (NSE:HECPROJECT) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹209.10, compared to a current price of ₹117.89 — trading 43.6% below its estimated fair value. The current Debt-to-Equity is 0.68, which is 33% below median its 10-year median of 1.01 and 70% above the Construction industry median of 0.40. HEC Infra Projects' overall GF Score™ is 84/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For HEC Infra Projects (NSE:HECPROJECT), the current Debt-to-Equity is 0.68 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is HEC Infra Projects (NSE:HECPROJECT) Overvalued in 2026?
Based on GuruFocus' analysis, HEC Infra Projects stock appears to be undervalued.
The current stock price of ₹117.89 is trading 43.6% below its estimated GF Value™ of ₹209.10.
GuruFocus considers HEC Infra Projects to be Significantly Undervalued.
Key valuation signals for NSE:HECPROJECT:
Debt-to-Equity: 0.68 (33% below median its 10-year median of 1.01)
GF Value™: ₹209.10 vs. price of ₹117.89 (43.6% below fair value)
Industry Position: 70% above the Construction median (#1060 of 1616)
No single metric tells the full story. See the NSE:HECPROJECT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HEC Infra Projects Ltd is an Engineering, Procurement and Construction Company Contractor in the Electro-Mechanical and Instrumentation Projects. The company services include switchyards; overhead transmission; substations, underground cable lying; Industrial and commercial electrification, battery energy storage system and mini / micro grid Solar projects water pumping stations; solar park; rooftop solar; indoor and outdoor lighting; security; fire alarm systems and others. It serves Steel, Chemical, Cement, Refineries, Petrochemicals, Gas and Oil Sector, Textile, Pharmaceuticals, Power-generation plants, Ports, Banks, Malls, Call Centers, Software Park; and other industries. It is engaged in the EPC Electro-Mechanical Project Business which is their only segment.
84GF Score
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