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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
HEC Infra Projects Limited is an India-based engineering, procurement, and construction (EPC) company specializing in electro-mechanical systems, solar projects, lighting, and extra low voltage (ELV) systems. It operates through the EPC Electro-Mechanical Project segment. It…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, fast-growing business, trading cheap versus its own history — but flagged on governance.
HEC Infra Projects is scored on the general / industrial framework. It keeps a slim 7.1% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT 0.24×) — worth a closer look. Free cash flow is worth about -2.0% of its market value.
Over the last 3 years revenue compounded at 50%/yr and profit at 152%/yr. Book value itself has compounded 30%/yr — the hallmark of a genuine compounder. Return on equity is an elite 23.4%. In the latest quarter profit fell 78% versus the prior quarter.
At 9× earnings, the stock sits at the 1st percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price asks for only ~-3%/yr growth over a decade — undemanding expectations. The forensic screen raises a red flag: Only ₹-0.58 of cash per ₹1 profit over 4 years — earnings not converting to cash.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 8.66 | 22.25 | better |
| P/B | 1.66 | 2.6 | better |
| EV/EBITDA | 9.84 | 30.35 | better |
| ROE | 23.44 | 6.19 | better |
| ROCE | 24.35 | 29.33 | worse |
| ROA | 4.7 | 3.28 | better |
| Quick Ratio | 0.91 | — | — |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Larsen & Toubro | 27.1 | 5.0 | 15.8% |
| RVNL | 44.7 | 4.1 | 8.9% |
| ACME Solar Holdings | 36.9 | 3.3 | 9.1% |
Revenue has grown every year across all 4 financial years shown. 50% CAGR over 3 years — high-growth territory. Growth is accelerating — latest year outpaced the prior year's rate.
Net profit has risen every year — the hallmark of a compounder. Profit is growing faster than revenue (152% vs 50%) — margin expansion is at work. The latest year saw a +36% swing — check if it's a one-off or structural.
Operating margin has expanded from 2% to 10% — the business is keeping more of each rupee earned. The gap between operating and net margin is widening — interest or tax costs are rising.
ROE at 19% — a respectable return on shareholder capital. High ROE despite single-digit margins — an asset-turn play with high capital velocity. Capital efficiency improving — ROE up 17pp across the window.
EPS has grown every year — each share earns more than the last, consistently. Profit grew faster than EPS (152% vs 146%) — share dilution is eroding per-share value. 146% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
1 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Cash conversion at 0.2× PAT — reported profit isn't translating into cash, raising earnings quality questions. Raising capital despite positive cash flow — could signal expansion plans or opportunistic fundraising.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 39% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (46% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate fading — recent quarters 16% below earlier ones.
Profit fell 78% QoQ — one-quarter drops can be noise, but a pattern matters.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold 74.9% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.