HG Infra Engineering Q3 Results Review


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On the recent appointment of some keys orders, HG Infra Engineering Ltd.’s Q3 operations scaled up materially and growth wasn’t without profitability.

Its maiden success with an order in the non-roads segment renders the quarter all the more appealing.

Collections couldn’t keep up with heightened activity and equity infusion needs. Consequently, leverage rose, but the balance sheet is still sturdy.

With technical due diligence underway for the four hybrid annuities, efforts are progressing. Subject to this, a share-purchase agreement could take a month, and NoCs/requisite approvals could then take another three months. If all goes as planned, and valuations match, HG Infra hopes to have cash in place by Sep-23.

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