Hindustan Construction Company Q2 FY27 Share Price & Earnings Call Analysis
Part of: Nifty Microcap 250 · Nifty Total Market
- Market cap
- ₹4,825 Cr
- P/E
- 43.80
- ROE
- 11.89%
- PEG
- 1.28
- Price to sales
- 1.26
- Debt to equity
- 0.44
- 52W high / low
- ₹27.8 / ₹13.7
- Sales growth (5Y)
- -13.61%
- EBITDA margin
- 11.70%
- Net profit margin
- 4.54%
- Promoter holding
- 16.18%
- Sales (last year)
- ₹3,808 Cr
Incorporated in 1926, Hindustan Construction Company Limited (HCC) is the flagship company of Hindustan Construction Company Group (HCC Group) and is involved in engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro,nuclear and thermal power plants, expressways and roads, marine works, water supply, irrigation systems and industrial buildings across the country. [1]
Guidance scorecard · Q2 FY27 call
What Hindustan Construction Company's management guided
and where it ranks in Construction
Construction
RevenueQ2 FY27 call
10–20%- The company is targeting a substantial doubling of its order book by the end of the financial year, which currently stands at approximately ₹13,000 crore.
- Over ₹35,000 crore worth of bids have been submitted, indicating strong potential for future orders and revenue growth.
- Growth in sales and revenue is expected to materialize after this order book expansion, as new projects start contributing to turnover.
- The management anticipates that with improved order wins, consolidated and standalone revenues will start showing more significant growth soon.
- The company remains selective in bidding and pricing, focusing on risk and client quality, which supports sustainable growth.
2 more points from Hindustan Construction Company's call on revenue
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MarginsQ2 FY27 call
FlatSee what Hindustan Construction Company said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- The company is actively bidding on projects worth approximately ₹34,805 crore, indicating future project-related investments.
- They have a strong pipeline of potential projects close to ₹86,000 crore across different sectors, implying upcoming capital deployment.
- Prepayment of ₹100 crore debt in Q2 FY27 and a plan to prepay another ₹108 crore by December 2026 reflects a strategic focus on deleveraging rather than new capital investment.
- Operational updates include substantial progress on ongoing projects (e.g., Indore Metro, Patna Metro, Agardanda Creek Bridge, hydropower projects), implying continued capital expenditure to complete these works.
FundraisingQ2 FY27 call
See what Hindustan Construction Company said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- Current order book stands at approximately ₹12,901 crore.
- The company has submitted bids totaling around ₹34,805 crore currently under evaluation.
- There is a strong pipeline of potential projects worth close to ₹86,000 crore across different sectors.
- The management expects to nearly double the order backlog by the end of the financial year, targeting around ₹25,000 crore.
- Orders expected to be a blend of hydro and transport infrastructure projects, with more bids recently focused on the hydro sector.
- Opportunities outside India are being actively pursued, but bids there are likely 12 months away.
2 more points from Hindustan Construction Company's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Hindustan Construction Company latest results (Sep 2026)
Revenue
₹897 Cr
-7% YoY
Net profit
₹23 Cr
-52% YoY
Operating margin
11%
EPS
₹0.09
Hindustan Construction Company shareholding (Sep 2026)
Promoters
16.18%
unchanged QoQ
FIIs
10.25%
−1.13 pp QoQ
DIIs
3.22%
−0.48 pp QoQ
Public
70.36%
+1.61 pp QoQ
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹926 Cr | 8.4 | |
| 2 | 40%+ | Flat | ₹6,502 Cr | 11.6 | |
| 3 | 40%+ | Flat | ₹2,016 Cr | 8.9 | |
| 4 | 40%+ | Flat | ₹968 Cr | 8.3 | |
| 5 | 40%+ | Flat | ₹850 Cr | 7.2 | |
| 6 | 40%+ | Flat | ₹716 Cr | 11.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of Hindustan Construction Company
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Hindustan Construction Company
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 18.59% | 18.59% | 18.59% | 18.59% | 16.72% | 16.72% | 16.72% | 16.72% | 16.81% | 16.72% | 16.18% | 16.18% |
| FIIs + | 7.84% | 9.19% | 9.63% | 9.73% | 13.34% | 10.57% | 9.83% | 9.58% | 10.41% | 10.92% | 11.38% | 10.25% |
| DIIs + | 9.38% | 8.19% | 6.55% | 5.97% | 7.50% | 6.85% | 6.83% | 6.79% | 4.76% | 4.11% | 3.70% | 3.22% |
| Public + | 64.18% | 64.02% | 65.23% | 65.69% | 62.43% | 65.87% | 66.61% | 66.91% | 68.01% | 68.24% | 68.75% | 70.36% |
| No. of Shareholders | 3,95,914 | 5,03,538 | 6,41,834 | 6,81,435 | 6,97,846 | 7,30,273 | 7,20,889 | 7,10,253 | 7,31,008 | 7,25,141 | 7,26,389 | 7,20,839 |
Financials of Hindustan Construction Company
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,833 | 1,474 | 1,773 | 1,816 | 1,407 | 1,007 | 1,374 | 1,091 | 961 | 925 | 992 | 993 | 897 |
| YoY Sales growth | -19% | +9% | -43% | -6% | -23% | -32% | -23% | -40% | -32% | -8% | -28% | -9% | -7% |
| Expenses + | 1,579 | 1,236 | 1,891 | 1,664 | 1,165 | 1,090 | 1,085 | 912 | 815 | 858 | 821 | 889 | 794 |
| Operating Profit | 254 | 239 | -118 | 152 | 242 | -83 | 288 | 179 | 146 | 67 | 171 | 105 | 103 |
| OPM % | 14% | 16% | -7% | 8% | 17% | -8% | 21% | 16% | 15% | 7% | 17% | 11% | 11% |
| Other Income + | 35 | 199 | 710 | 33 | 46 | 589 | 18 | 27 | 23 | 76 | 31 | 63 | 28 |
| Interest | 256 | 146 | 165 | 146 | 159 | 183 | 111 | 122 | 120 | 123 | 105 | 87 | 89 |
| Depreciation | 28 | 30 | 18 | 26 | 26 | 90 | 22 | 12 | 6 | 5 | 5 | 6 | 6 |
| Profit before tax | 5 | 261 | 410 | 14 | 102 | 234 | 173 | 73 | 42 | 15 | 92 | 74 | 35 |
| Tax % | 161% | 30% | 40% | 118% | 38% | 117% | 48% | 31% | -13% | 48% | 36% | 31% | 36% |
| Net Profit + | -3 | 182 | 246 | -2 | 64 | -39 | 90 | 51 | 48 | 8 | 59 | 51 | 23 |
| EPS in Rs | -0.01 | 0.97 | 1.23 | -0.01 | 0.32 | -0.18 | 0.42 | 0.23 | 0.22 | 0.03 | 0.23 | 0.20 | 0.09 |
Financials of Hindustan Construction Company
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 10,353 | 8,540 | 9,867 | 10,132 | 10,544 | 9,444 | 8,248 | 10,668 | 8,270 | 7,007 | 5,603 | 3,970 | 3,808 |
| Sales growth | +7% | -18% | +16% | +3% | +4% | -10% | -13% | +29% | -22% | -15% | -20% | -29% | -14% |
| Expenses + | 9,108 | 7,500 | 9,103 | 9,401 | 9,763 | 8,600 | 7,857 | 9,480 | 7,722 | 6,336 | 4,965 | 3,330 | 3,362 |
| Operating Profit | 1,244 | 1,040 | 764 | 731 | 781 | 844 | 391 | 1,188 | 548 | 671 | 639 | 639 | 445 |
| OPM % | 12% | 12% | 8% | 7% | 7% | 9% | 4.7% | 11% | 7% | 10% | 11% | 16% | 12% |
| Other Income + | 164 | 126 | -37 | -105 | -452 | 487 | -122 | 615 | 497 | 974 | 648 | 80 | 198 |
| Interest | 1,280 | 1,220 | 1,543 | 1,525 | 808 | 817 | 1,001 | 1,036 | 1,012 | 813 | 600 | 469 | 404 |
| Depreciation | 327 | 250 | 206 | 201 | 177 | 152 | 136 | 138 | 128 | 105 | 164 | 27 | 22 |
| Profit before tax | -199 | -304 | -1,022 | -1,100 | -657 | 362 | -867 | 628 | -94 | 726 | 523 | 223 | 217 |
| Tax % | 14% | 76% | -4% | -1% | -92% | 46% | -30% | 10% | -71% | 34% | 78% | 26% | |
| Net Profit + | -208 | -537 | -983 | -1,090 | -50 | 197 | -610 | 563 | -28 | 478 | 113 | 166 | 141 |
| EPS in Rs | -1.79 | -4.18 | -5.44 | -5.82 | -0.27 | 1.05 | -3.26 | 3.01 | -0.15 | 2.40 | 0.52 | 0.63 | 0.55 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Hindustan Construction Company
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 65 | 78 | 101 | 102 | 151 | 151 | 151 | 151 | 151 | 151 | 182 | 262 | 262 |
| Reserves | 459 | -560 | -369 | -1,170 | -1,151 | -910 | -1,469 | -810 | -866 | -320 | 724 | 1,865 | 1,906 |
| Borrowings + | 11,880 | 9,495 | 9,780 | 9,456 | 4,108 | 4,253 | 4,777 | 2,018 | 5,512 | 2,223 | 1,679 | 1,019 | 957 |
| Other Liabilities + | 6,606 | 6,718 | 7,557 | 8,198 | 7,802 | 8,707 | 9,322 | 12,835 | 8,381 | 7,005 | 5,578 | 5,341 | 5,352 |
| Total Liabilities | 19,010 | 15,730 | 17,069 | 16,586 | 10,910 | 12,200 | 12,781 | 14,194 | 13,178 | 9,059 | 8,163 | 8,487 | 8,476 |
| Fixed Assets + | 4,494 | 1,865 | 1,713 | 1,729 | 575 | 771 | 866 | 723 | 623 | 449 | 242 | 247 | 292 |
| CWIP | 3,135 | 1,696 | 1,890 | 1,714 | 169 | 178 | 2 | 1 | 0 | 1 | 7 | 19 | 53 |
| Investments | 273 | 601 | 476 | 417 | 181 | 356 | 418 | 59 | 79 | 246 | 110 | 198 | 274 |
| Other Assets + | 11,108 | 11,568 | 12,990 | 12,726 | 9,985 | 10,895 | 11,496 | 13,411 | 12,475 | 8,364 | 7,804 | 8,023 | 7,858 |
| Total Assets | 19,010 | 15,730 | 17,069 | 16,586 | 10,910 | 12,200 | 12,781 | 14,194 | 13,178 | 9,059 | 8,163 | 8,487 | 8,476 |
Financials of Hindustan Construction Company
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 702 | 87 | 48 | 1,441 | 183 | 538 | 348 | 947 | 16 | 91 | 134 | 892 |
| Cash from Investing Activity + | -843 | 180 | -59 | 71 | -5 | -18 | -83 | -208 | 448 | 536 | -90 | -365 |
| Cash from Financing Activity + | -181 | -397 | 46 | -1,336 | -312 | -514 | 101 | -660 | -603 | -810 | 109 | -697 |
| Net Cash Flow | -322 | -131 | 34 | 176 | -133 | 5 | 366 | 79 | -139 | -183 | 153 | -170 |
| Free Cash Flow | -232 | 14 | -180 | 1,498 | 158 | 471 | 287 | 892 | -189 | 171 | 140 | 825 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 54% | 8% | 9% | 200% | 37% | 71% | 60% | 87% | 2% | 19% | 22% | 140% |
Financials of Hindustan Construction Company
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 25 | 85 | 89 | 123 | 73 | 199 | 72 | 119 | 115 | 156 | 207 |
| Inventory Days | 2,442 | 876 | 1,093 | 813 | 283 | 201 | 179 | 183 | 52 | 92 | ||
| Days Payable | 1,248 | 1,073 | 1,451 | 1,185 | 1,229 | 1,301 | 1,093 | 1,035 | 841 | 1,405 | ||
| Cash Conversion Cycle | 1,220 | -172 | -273 | -282 | -824 | -1,027 | 199 | 72 | -795 | -738 | -633 | -1,106 |
| Working Capital Days | -58 | -58 | -23 | -150 | -43 | -127 | -72 | -40 | -24 | 22 | 16 | 7 |
| ROCE % | 8% | 7% | 6% | 7% | 12% | 29% | 11% | 50% | 16% | 21% | 25% | 25% |
Guidance history
How Hindustan Construction Company's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q1 FY27 call → | 10–20% | Flat | Planned | Planned | Flat |
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
| Q3 FY26 call → | 20–40% | Up 2%+ | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
12 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | −27.8% | 18% |
| Last 6 months | −14.0% | 20% |
| Last 3 months | −7.1% | 40% |
The price is 80.1% below its all-time high of ₹92.43 (4 Jan 2008). Stocks more than 20% below their peak have their score halved, so 23 became 12.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Hindustan Construction Company: 0.4 × 18 + 0.4 × 20 + 0.2 × 40 = 23, halved to 12 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Hindustan Construction Company: frequently asked questions
What is Hindustan Construction Company share price today?
Hindustan Construction Company last traded at ₹18.42, with a market capitalisation of ₹4,825 Cr and a P/E ratio of 43.8.
What were Hindustan Construction Company's latest quarterly results?
For the quarter ended Sep 2026, Hindustan Construction Company reported revenue of ₹897 Cr (-7% year on year) and net profit of ₹23 Cr, with an operating margin of 11%.
Is Hindustan Construction Company's profit growing?
Net profit was ₹23 Cr in Sep 2026 against ₹48 Cr in Sep 2025, a change of -52%.
What is Hindustan Construction Company's EPS?
Hindustan Construction Company's earnings per share for the quarter ended Sep 2026 was ₹0.09.
What is the promoter holding in Hindustan Construction Company?
Promoters held 16.18% of Hindustan Construction Company in Sep 2026 (unchanged versus Jun 2026).
How much do FIIs and DIIs hold in Hindustan Construction Company?
In Sep 2026, foreign institutional investors held 10.25% and domestic institutions (including mutual funds) held 3.22% of Hindustan Construction Company.
What is Hindustan Construction Company's ROE and ROCE?
Hindustan Construction Company's return on equity is 11.9% and its return on capital employed is 24.8%.
Does Hindustan Construction Company pay a dividend?
Hindustan Construction Company's dividend yield is 0% at the current price; see the Hindustan Construction Company dividends page for past payouts.
Which sector does Hindustan Construction Company belong to?
Hindustan Construction Company is in the Construction sector. Its peer comparison and sector ranking are on this page.
What did Hindustan Construction Company's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Hindustan Construction Company's management.
How does Arthneeti AI analyse Hindustan Construction Company?
Arthneeti reads Hindustan Construction Company's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.
Continue your research
What Hindustan Construction Company's management said in earlier quarters
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