HG Infra Engineering: Anand Rathi Maintains BUY Rating with Revised Target Price of ₹1,142

Overview

Anand Rathi reiterated its BUY recommendation for HG Infra Engineering, setting a new 12-month target price of ₹1,142. The report highlights Q2 revenue growth of 8.4% to ₹11.5 billion, though EBITDA margins dipped to 12.7% due to one-time provisioning. The brokerage expects improved execution and normalized margins in the second half of the fiscal year, with debt expected to decrease.