HECPROJECT

HEC Infra Projects Limited

Listed company · ISIN INE558R01013 · NSE EQ · FV ₹10
Last price
₹117
+2.09%today
What this company does

HEC Infra Projects Limited is a listed company. It booked ₹31 cr of revenue in its latest quarter (Q1 FY27) and kept 4.4% of sales as profit.

In the report:
56out of 100
Equitytale Health Score
Mixed

Healthier than 56% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 611–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns47

How much profit it earns on the money it employs

Balance sheet27

How much it owes, and whether earnings cover the interest

Cash quality45

Whether reported profit actually arrives as cash

Growth & consistency98

Whether sales and profit have grown, and how steadily

Valuation51

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 11% vs last year
Promoters hold 75%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 4.4% net margin

What if I invest in HECPROJECT?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹117 +2.09%
latest close · 2026-09-17
1-year return
-38.5%
52-wk low ₹2452-wk high ₹210
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio23.2Average
LowAverageHigh
P/B ratio1.93Moderate
Below bookModerateHigh
EV / EBITDA14.0Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.3%Fair
WeakFairStrong ▸15%
Return on capital18.0%Strong
WeakFairStrong
Net margin4.4%Thin
ThinDecentStrong
EBITDA margin9.7%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.68Moderate
LowModerateHigh ▸1
Interest cover2.1×Okay
RiskyOkayStrong ▸5×
Current ratio1.51Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹127 cr
Book value
₹61
EPS
₹1.26
latest quarter
Net debt
₹43 cr
owes more than its cash
Enterprise value
₹170 cr
EBITDA
₹12 cr
annualised
EBIT
₹12 cr
annualised
Operating margin
9.6%
Return on assets
4.0%
Earnings yield
4.31%
P/S
1.02
Sales / share
₹114.8
Tax rate
12.6%
Face value
₹10
Shares
1.1 cr
Working capital
₹35 cr
Current assets
₹105 cr
Current liabilities
₹69 cr
Delivery %
74.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹78 vs market price ₹117 — price is 50% above it
Safety cushion-50.3%(target ≥ +20%)
Models span ₹78₹78, midpoint ₹78
Model ₹78
Price ₹117
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹31 cr
Other Income₹28.7 L
Total Income₹31 cr
Cost of Materials₹15 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹7 cr
Employee Benefit Expense₹1 cr
Finance Costs₹1 cr
Depreciation & Amortisation₹3.7 L
Other Expenses₹6 cr
Total Expenses₹30 cr
Profit before Tax₹2 cr
Tax Expense₹19.8 L
Net Profit₹1 cr
Net margin on total income4.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹22 cr68.6%
Employee benefit expense₹1 cr4.0%
Finance costs₹1 cr4.5%
Depreciation & amortisation₹3.7 L0.1%
Other expenses₹6 cr17.8%
Tax expense₹19.8 L0.6%
Profit for the period₹1 cr4.4%
Total income ₹31 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue57 cr51 cr31 cr
Total income58 cr52 cr31 cr
Expenses54 cr43 cr30 cr
Profit before tax4 cr9 cr2 cr
Tax96.6 L3 cr19.8 L
Net profit (owners' share)3 cr6 cr1 cr
Net margin (owners' share, on revenue)5.1%12.0%4.4%
EPS (₹)2.695.631.26
YoY (latest quarter): total income +12.5% · net profit +2.7%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹135 cr
Shareholder equity
₹66 cr
parent shareholders
Total debt
₹44 cr
Cash
₹1 cr
Cash flow · H1 FY26
Operating
₹4 cr
Investing
₹-7 cr
Financing
₹2 cr
Who owns it · 2026-06-30
No pledge
Promoter
74.9%
Public
25.1%
Promoter stake up 1.7% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtRAHUL G.SHAH · Promoter Group7.00 L · ₹9.0 cr12 Mar 25
BoughtRupal Gaurang Shah · Promoters2.00 L · ₹2.4 cr25 Sep 20
BoughtGaurang Parmanand Shah · Promoters4.08 L · ₹4.8 cr25 Sep 20
Bulk / block deals
BoughtVIPIN PRAKASH MANGAL · NSE1.00 L @ ₹139.448 Sep 26
SoldSUMANJU PROJECTS & SERVICES LIMITED · NSE87,897 @ ₹140.28 Sep 26
BoughtMANOJ KUMAR VATS · NSE58,430 @ ₹124.868 Apr 26
Stake changes
BoughtRahul G. Shah along with PAC · promoter→ 6.57% · 7.00 L12 Mar 25
BothHena Ashish Shah along with PAC→ 0.95% · 96,00018 Dec 24
BothWealth First Portfolio Managers Limited along with PAC→ 5.86% · 2.70 L18 Dec 24
Promoter pledges
ReleasedBank of India2.00 L · 9.86% held25 Sep 20
ReleasedBank of India4.08 L · 20.12% held25 Sep 20
PledgedBank of India2.00 L · 0.00% held15 Feb 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 18 Sep 2025
See the official result
1
Adoption of the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2025 the Reports of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
12.33 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
Re appointment of Ms Rupal G Shah liable to retire by rotation and being eligible offers herself for re appointment
Backed by 100% of shareholders other than promotersneeded 50%
12.33 L votes for, 0 against · 0% of mutual funds and other big investors said no
3
Appointment of Statutory Auditors of the Company to hold office for a period of five consecutive years from the conclusion of this 20th Annual General Meeting till the conclusion of the 25th AGM of the Company to be held in the year 2030
Backed by 100% of shareholders other than promotersneeded 50%
12.33 L votes for, 0 against · 0% of mutual funds and other big investors said no
4
Appointment of Secretarial Auditors of the Company for a term of five consecutive years to conduct the Secretarial Audit of five consecutive financial years 2025 26
Backed by 100% of shareholders other than promotersneeded 50%
12.33 L votes for, 0 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 5 named members
owning 74.9% between them · as of 2026-06-30
GAURANG PARMANAND SHAH52.82%
RUPAL GAURANG SHAH11.23%
RAHUL GAURANG SHAH6.57%
PARAS ENGEN INDIA PRIVATE LIMITED4.31%
VIKRAM PARMANAND SHAHno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹9 cr raised in Mar 2025 by selling shares to selected investors

As of Mar 2025, the company says it has spent 100% of what it set aside.

TO PART FINANCE FOR MANUFACTURING UNIT OF TRANSFORMER AND RING MAIN UNIT(RMU) OF HIGHER VOLTAGE
100%
of what was set aside
WORKING CAPITAL REQUIREMENT
100%
of what was set aside
GENERAL CORPORATE PURPOSES
100%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.