Hindustan Construction Company Limited (HCC)

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Hindustan Construction Company Limited (HCC) · mywealthgrid

About

Hindustan Construction Company Limited operates civil construction in India's industrials sector, quarterly revenues ₹920–₹990 Cr. Market cap ₹5,191.85 Cr; mid-cap player focused on infrastructure and building projects.

Face value: ₹1

Market cap

₹5,299 Cr

P/E

31.9×

P/B

2.5×

Dividend yield

ROE

10.9%

ROCE

17.9%

Debt / equity

0.48

OPM

14.2%

EPS (TTM)

₹0.6

Book value

₹8.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margins swing 7.26%–18.23% quarterly despite stable revenue—execution or project-mix inconsistency
PE 31.3 vs ROE 10.92%—stock prices recovery not yet evident in returns
Stock down 23.74% in 12mo; verify order pipeline and project execution outlook
No dividends since 2011 with promoter stake 16.17%—verify cash deployment and earnings use

Generated analysis · source review pending

Growth drivers

Margin recovery: 17–18% OPM proves capability; stabilize current 7–15% quarters to demonstrated highs = profit growth without revenue expansion
Consistent ₹920–₹993 Cr quarterly indicates active projects; acceleration needs pipeline depth—verify backlog and contract wins
Government infrastructure exposure: sector benefits from public capex and PPP—verify backlog % from government and escalation clauses on long-duration contracts
Leverage capacity: D/E 0.48 low for construction sector—clarify if conservative positioning or deployment opportunity

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹20.2-2.3%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Revenue shrank over the last 5 years (-13.6% a year)
−Weak interest coverage of 1.4×
−Low promoter holding of 16.2%

Research score

Structured signal from quality, growth, valuation and momentum.

33/100

Business quality: 35
Growth: 5
Valuation: 59

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8,540	9,867	10,544	9,437	8,248	10,670	9,857	7,007	5,603	3,970
COGS	—	—	—	850	509	848	999	872	901	527
Gross profit	—	—	—	8,587	7,739	9,822	8,858	6,135	4,702	3,443
	7,502	9,105	9,612	7,562	7,283	8,405	8,272	5,422	4,068	2,872
	1,038	761	932	1,025	457	1,417	586	713	634	571
OPM %	12.2%	7.7%	8.8%	10.9%	5.5%	13.3%	6%	10.2%	11.3%	14.4%
Depreciation	250	206	177	152	136	138	129	105	164	27
Interest	1,220	1,543	808	817	1,001	1,030	1,012	813	600	469
	242	60	75	306	-187	238	464	932	653	149
Profit before tax	-304	-1,022	-657	362	-867	486	-90	726	523	223
Tax	—	—	-608	165	-257	86	-62	248	411	57
Tax %	—	—	-92.4%	45.6%	-29.7%	17.8%	-69.2%	34.2%	78.5%	25.8%
	-537	-983	-50	197	-610	400	-28	478	113	166
PAT margin %	-6.3%	-10%	-0.5%	2.1%	-7.4%	3.7%	-0.3%	6.8%	2%	4.2%
EPS (₹)	—	—	—	1.3	-4	2.7	-0.2	3.2	0.7	0.8
EPS adjusted (₹)	-6.2	-6.9	-0.5	1.3	-4	2.8	-0.2	3.2	0.6	0.6
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	65	101	102	102	151	151	151	151	151	182	262
Reserves	-535	-369	-1,170	-1,515	-910	-1,469	-810	-866	-320	724	1,865
Minority interest	105	—	—	—	—	—	—	—	—	—	—
	8,185	7,395	4,785	4,785	2,993	4,533	1,791	5,295	2,126	1,679	1,019
	7,978	9,969	12,827	12,319	9,967	9,565	13,093	8,600	7,102	5,504	5,345
Total equity & liabilities	15,798	17,096	16,544	15,690	12,200	12,781	14,225	13,180	9,059	8,088	8,492
	2,104	1,709	1,727	1,727	493	863	720	680	445	242	246
CWIP	1,538	1,890	1,714	1,714	178	2	1	0	1	7	19
Investments	844	476	417	417	356	421	62	23	249	79	199
	11,312	13,021	12,687	11,833	11,172	11,496	13,443	12,477	8,364	7,761	8,027
Total assets	15,798	17,096	16,544	15,690	12,200	12,781	14,225	13,180	9,059	8,088	8,492

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Engineering and construction	3,937.25	308.88	7,788.09	5,670.34	2,117.75	14.59
Infrastructure	53.87	50.08

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	91%	93.8%	92.1%	89.9%	87.6%	83.9%	86.7%
EBITDA margin %	8.8%	8.9%	4.7%	11.2%	5.9%	9.6%	14.2%	14.2%
EBIT margin %	7.2%	7.3%	3.1%	9.9%	4.5%	8.1%	11.2%	13.5%
PAT margin %	-0.5%	2.1%	-7.4%	3.7%	-0.3%	6.8%	2%	4.2%
Working capital
Receivable days	133	179	199	72	81	115	156	207
Inventory days	95	201	344	209	179	183	52	92
Payable days	—	10	2,185	1,317	1,105	1,035	847	1,405
NWC days	—	369	-1,642	-1,036	-845	-738	-640	-1,106
Leverage
Current ratio	0.74	0.75	0.97	1.05	1.09	1.16	1.21	1.14
Debt to EBITDA	5.13	3.58	11.59	1.5	9.18	3.17	2.12	1.8
Debt to equity	-3.39	-3.94	-3.44	-2.72	-7.41	-12.62	1.85	0.48
Interest coverage	1	0.9	0.3	1.2	0.5	0.9	1.3	1.4
Asset turnover	0.67	0.77	0.65	0.75	0.75	0.77	0.69	0.47
Return ratios
Return on assets %	-0.3%	1.6%	-4.8%	2.8%	-0.2%	5.3%	1.4%	1.9%
Return on capital employed %	21%	33.9%	15%	29.5%	8.2%	15%	23.5%	17.9%
Return on equity %	3.5%	-26%	46.3%	-60.6%	3.9%	-283.8%	12.4%	7.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	18.59%	18.59%	18.59%	18.59%	18.59%	16.72%	16.72%	16.72%	16.71%	16.81%	16.72%	16.17%
	5.58%	7.85%	9.19%	9.63%	9.73%	13.35%	10.57%	9.83%	9.59%	10.42%	10.92%	11.39%
	9.56%	9.41%	8.24%	6.59%	5.97%	7.51%	6.85%	6.85%	6.79%	4.77%	4.13%	3.69%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	66.27%	64.15%	63.98%	65.19%	65.71%	62.42%	65.86%	66.6%	66.91%	68%	68.23%	68.75%
No. of shareholders	—	—	—	—	—	—	—	—	7,10,253	7,31,008	7,25,141	7,26,389

Promoter holding down 2.42 percentage points since Sep 2023.

178 deals · 16 Nov 2022 – 2 Dec 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Dec 2025	MATHISYS ADVISORS LLP	Bulk	NSE	Buy	93,82,372	₹26.52	₹24.88 Cr
2 Dec 2025	MATHISYS ADVISORS LLP	Bulk	NSE	Sell	93,69,553	₹26.55	₹24.88 Cr
2 Dec 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	93,68,110	₹26.58	₹24.90 Cr
2 Dec 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	93,57,279	₹26.56	₹24.85 Cr
21 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	91,25,810	₹27.23	₹24.85 Cr
21 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	91,25,810	₹27.22	₹24.84 Cr
26 Jul 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	1,37,22,403	₹55.40	₹76.02 Cr
26 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,14,42,401	₹55.43	₹63.43 Cr
26 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,14,42,401	₹55.43	₹63.43 Cr
26 Jul 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	63,86,745	₹55.42	₹35.40 Cr

1–10 of 178

1 / 18

Mr. Ajit GulabchandNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Arjun DhawanExecutive Director-MD
Mr. Santosh Janakiram IyerNon-Executive - Independent Director
Mr. Mukul SarkarNon-Executive - Nominee Director
Mrs. Mita DixitNon-Executive - Independent Director
Mr. Aditya Pratap JainNon-Executive - Non Independent Director
Mr. Ramesh SubramanyamNon-Executive - Independent Director
Mr. Nakul PasrichaNon - Executive Independent Director
Mr. Girish GangalChief Financial Officer
Mr. Nitesh Kumar JhaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.22%

of the company's equity

All mutual funds

0.24%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	56.8 L	13.54	0.54%	0.217%	-1.24 L
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	38,887	0.09	0.02%	0.001%	+181
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	6,449	0.02	0.02%	0%	+7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

4

Dividend dividend30 May 2011 · ex-date₹0.4
Dividend dividend28 May 2010 · ex-date₹0.8
Dividend dividend27 May 2009 · ex-date₹0.8
Dividend dividend28 May 2008 · ex-date₹0.8

1

Board meeting to consider results6 Aug 2026

1

Bonus 1:110 Aug 2010 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

23 announcementsExport CSV

11 Aug 2026, 2:43 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	91%	93.8%	92.1%	89.9%	87.6%	83.9%	86.7%
EBITDA margin %	8.8%	8.9%	4.7%	11.2%	5.9%	9.6%	14.2%	14.2%
EBIT margin %	7.2%	7.3%	3.1%	9.9%	4.5%	8.1%	11.2%	13.5%
PAT margin %	-0.5%	2.1%	-7.4%	3.7%	-0.3%	6.8%	2%	4.2%
Working capital
Receivable days	133	179	199	72	81	115	156	207
Inventory days	95	201	344	209	179	183	52	92
Payable days	—	10	2,185	1,317	1,105	1,035	847	1,405
NWC days	—	369	-1,642	-1,036	-845	-738	-640	-1,106
Leverage
Current ratio	0.74	0.75	0.97	1.05	1.09	1.16	1.21	1.14
Debt to EBITDA	5.13	3.58	11.59	1.5	9.18	3.17	2.12	1.8
Debt to equity	-3.39	-3.94	-3.44	-2.72	-7.41	-12.62	1.85	0.48
Interest coverage	1	0.9	0.3	1.2	0.5	0.9	1.3	1.4
Asset turnover	0.67	0.77	0.65	0.75	0.75	0.77	0.69	0.47
Return ratios
Return on assets %	-0.3%	1.6%	-4.8%	2.8%	-0.2%	5.3%	1.4%	1.9%
Return on capital employed %	21%	33.9%	15%	29.5%	8.2%	15%	23.5%	17.9%
Return on equity %	3.5%	-26%	46.3%	-60.6%	3.9%	-283.8%	12.4%	7.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

Date	Category	Subject	Filing
11 Aug 2026, 2:43 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
10 Aug 2026, 4:43 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
7 Aug 2026, 2:38 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
29 Jul 2026, 3:52 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
29 Jul 2026, 3:44 pm	Board Meeting	Board Meeting Intimation for Board Meeting Intimation Under Regulations 29 And 50 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
27 Jul 2026, 1:07 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
24 Jul 2026, 5:34 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.	PDF
24 Jul 2026, 5:16 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	87	48	1,441	183	538	348	946	17	91	134	892
	180	-59	71	-5	-36	-75	-224	425	825	-35	-364
	-397	46	-1,336	-312	-514	101	-660	-603	-1,124	73	-697
Net cash flow	-131	34	176	-134	-12	374	62	-161	-208	171	-170
Free cash flow	—	—	—	—	—	273	857	-198	72	116	811
CFO / Operating profit %	8.4%	6.3%	—	19.6%	64.2%	88.9%	79.3%	2.9%	13.5%	16.8%	157.8%

Hindustan Construction Company Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

4

1

1

Announcements

4

1

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Claim Management · revenue

Hindustan Construction Company Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Bonus issues1

Announcements

Dividends4

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Claim Management · revenue

4

1

1

4

1

1