H.G. Infra Engineering Limited — Interim / Quarterly Report 2022

Nov 8, 2021

November 08, 2021

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400 001

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (East) Mumbai- 400 051

Scrip Code- 541019

Scrip Symbol- HGINFRA

Dear Sir/Madam,

Sub: Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2021

Pursuant to Regulation 33 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclosed herewith the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2021, duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company, at their respective meetings held today.

The meeting of the Board of Directors commenced at 02:00 p.m. and concluded at 03:36 p.m.

This is for your information and appropriate dissemination.

Thanking you,

Yours faithfully, For H.G. Infra Engineering Limited

Ankita Mohn

Company Secretary and Compliance Officer M. No.: A33288

Encl.: as above

Visit us at : www.hginfra.ccom Corp. Office : Ill Floor, Sheel Mohar Plaza, A-1, Tilak Marg, C-Scheme Tel. : +91 141 4106040 - 41 EEL : info@hginfra.com BET esta st) Fax : +91 141 4106044 Regd. Office : 14, Panchwati Colony, Ratanada, Jodhpur-342001 (Raj.) 'Tel. : +91 291 2515327

Review Report

To The Board of Directors H.G. Infra Engineering Limited Ill Floor, Sheel Mohar Plaza, A-1, Tflak Marg, C-Scheme, Jaipur-3o2ool Rajasthan, India

• 1. We have reviewed the unaudited standalone financial results of H.G. Infra Engineering Limited (the "Company") for the quarter ended September 3o, 2o21, which are included in the accompanying Statement of Standalone unaudited financial results for the Quarter and Six months ended September 3o, 2o21', Statement of Standalone unaudited Assets and Liabilities as at September 3o, 2o21' and `Statement of Standalone unaudited cashflow for the half year ended September 3o, 2o21' (the "Statement") which includes 3 Jointly controlled operations - HGIEPL - Ranjit JV, HGIEPL - MGCPL JV and HGIEPL - RPS JV consolidated on a proportionate basis (refer Note 1 on the Statement). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2ol5, as amended (the "histing Regulations, 2ol5"), which has been digitally signed by us for identification purposes.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2ol3, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241o "Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is fi.ee of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2ol5, as amended, to the extent applicable.

1. Based on our review conducted as above and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2ol5 including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We did not review the interim financial results of 3 Jointly controlled operations - HGIEPL - Ranjit JV, HGIEPL - MGCPL JV and HGIEPL - RPS JV, consolidated on a proportionate basis included in the Statement, whose results reflect total assets of Rs. 33.72 million and net assets of Rs. 6.o3 million as at September 3o, 2o21 and total revenues of Rs. 8.74 million and Rs. 8.74 million, total net profit after tax of Rs. o.o6 mi"on and Rs. o.o6 million and total comprehensive income of Rs. o.o6 mi"on and Rs. o.o6 million for the quarter and half year ended September 3o, 2o21 respectively, and cash inflow (net) of Rs. 2.35 million for the half year ended September 3o, 2o21, as considered in the respective standalone unaudited interim financial results of the jointly controlled operations included in the Statement. The interim financial results of these jointly controlled operations have been reviewed by the other auditors whose reports have been furnished to us and our conclusion in so far as it relates to the amounts and disclosures included in respect of these Jointly controlled operations, is based solely on the report of other auditors, who carried out their review and issued their unmodified conclusion vide their report as provided to us by the Management and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

For Price Waterhouse & Co Chartered Accountants LLP Firm Registration Number: 3o4o26E/E-3o0009

N ITI N R#'La:::i:#Lby LOKUMAL I(HATRi KHATRl ?::'£:i32J6'51;°o?

Nitin Khatri Partner Membership Number: 11o282 UDIN: 2111o282AAAANC6342

Date: November 8, 2o21 Place: Mumbai

For Shridhar & Associates Firm Registration Number: 134427W

ABHISHEK ::gil:'HlyEi!gned dy PACHLANG PACHLANGIA IA i4a:`4#;3!2+'6'5]# Abhishek Pachlangia Partner Membership Number: 12o593 UDIN: 2112o593AAAABQ2232

Date: November 8, 2o21 Place: Mumbal

H.G. Infl.a Engineering Limited Regd Office : 14, Panchwati Colony, Ratanada, Jodhpur-342001, Rajasthan Tel: -911414106 040 Fax: +91-141-4106 044 Email: cs@hglnfra.com Website : ^/w^/.hgi nfra.com CIN No, -L45201RJ2003PLC018049

(Amount ln Rs. Million) Sr. Particulars Quarter ended Six months ended Year ended September 30, June 30, September 30, September 30, September 30, March 31, No 2021 2021 Z020 Z021 2020 2021 (Unaudited) |unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Revenue from operations 7,496.13 9,117.29 4,673.96 16,613.42 7,653.24 25,275.00 2 Other income 51.22 33.89 15.99 85.11 42.50 154.28 3 Total Income (1+2) 7,547.353,895.58 9,151.184,567.38 4,689.952,446.14 16,698.538,462.96 7,695.743,852.93 25,429.2811,856.52 45 Expenses(a)Costof materials consumed (b) Contract and site expenses 1,985.06 2,669.14 1,149.85 4,654.20 1,966.42 7,951.83 (c) Employee benefits expense 310.81 310.00 258.52 620.81 481.71 1,092.60 (d) Finance cost 125.02 118.93 137.62 243.95 259.38 595.55 (e) Depreciation and amortisation expense 212.72 202.99 208.36 415.71 403.02 844.29 (f) Other Expenses 86.52 85.33 50.12 171.85 91.55 267.35 Total Expenses 6,615.71 7,953.77 4,250.61 14,569.48 7,055.01 22,608.14 Proflt before tax (34) 931.64238.67 1,197.41310.61 439.34114.90 2,129.05549.28 640.73166.79 2,821.14718.92 67 Income tax expense(a)CurrentTax (b) Deferred Tax (5.45) (2.39) (2.20) (7.84) (3.60) (7.38) Total Tax Expense 233.22 308.22 112.70 541.44 163.19 711.54 Profit after Tax (5-6) 698.42(1.44) 889.19(1.22) 326.642.02 1,587.61(2.66) 477.544.04 2,109.60(4.72) 89101112 Other Comprehensive IncomeItemsthatwillnotbereclassified to profit or lossRemeasurementsofpost-employmentbenefitobligationsIncometaxrelatingtotheseitems 0.36 0.31 (0.51) 0.67 (1.02) 1.19 Other Comprehensive Income net of tax (1.08) (a.91) 1.51 (1.99) 3.02 (3.53) Total Comprehensive Income for the period (7+8)Paid-upequitysharecapital(FaceValueofRs.10pershare)OtherEquity(excludingRevaluationReserve)asshownintheAuditedBalanceSheetEarningsperequityShare(ofRs.10pershare):BasicandDiluted 697.34651.7110.72* 888.28651.7113.64* 328.15651.715.01* 1,585.62651.7124.36, 480.56651.717.33* 2,106.07651.719,670.4032.37

Statement of Standalone unaudlted {inancial results for the Quarter and Six months ended September 30, 2021

* Not annualised

See accompanying notes forming part of the standalone financial results

H.G. Infra Engineering Limited

Regd Office : 14, Panchwati Colony, Ratanada, Jodhpur-342001, RajasthanTel: - 91 141 -4106 040 Fax: +91-141-4106 044 Email: cs@hginfra.com

Website: www.hginfra.com CIN No. - L45201RJ2003PLC018049

Statement of Standalone unaudited Assets and Liabilities as at September 30, 2021

		(Amount in Rs. Million)
	As at	As at
Particulars	September 30, 2021	March 31, 2021
	Unaudited	Audited
ASSETS
Non-current assets
Property, plant and equipment	4,781.06	4,794.55
Right-of-use assets	8.33	10.44
Capital work-in-progress	23.35	18.07
Intangible assets	22.90	25.69
Financial assets
i. Investment	2,758.80	2,612.12
ii. Trade receivables		40.70
iii. Other financial assets	164.46	118.05
Deferred tax assets	103.99	95.48
Non-currrent tax assets	2.25	1.84
Other non-current assets	10.69	48.02
Total non-current assets	7,875.83	7,764.96
Current assets
Inventories	1,648.03	1,680.08
Financial assets
i. Trade receivables	6,289.54	6,534.38
ii. Cash and cash equivalents	129.02	1,399.48
iii. Bank balances other than (ii) above	1,018.25	1,184.70
iv. Loans	131.81	49.86
v. Other financial assets	51.49	39.73
Contract assets	2,950.97	2,654.42
Other current assets	958.74	499.12
Total current assets	13.177.85	14,041.77
Total assets	21,053.68	21,806.73
EquityEquity share capitalOther equityReserves and surplus	651.7111,203.88	651.719,670.40
Total equity	11,855.59	10,322.11
LIABILITIESNon-current liabilitiesFinancial liabilities
i. Borrowings	767.87	944.90
ii. Lease liabilities	0.47	1.06
iii. Trade Payable	207.85	838.33
Employee benefit obligations	33.94	24.87
Total non-current liabilities	1,010.13	1,809.16
Current liabilities
Financial liabilities
i. Borrowings *	1,969.70	1,945.03
ii. Lease liabilities	8.51	10.57
iii. Trade payables
(a) total outstanding dues of micro and small enterprises	4.61	13.45
(b) total outstanding dues other than (iii) (a) above	3,625.35	4,132.47
iv. Other financial liabilities	78.85	50.02
Contract liabilities	2,176.19	3,236.13
Employee benefit obligations	126.34	82.74
Current tax liabilities	138.61	73.79
Other current liabilities	59.80	131.26
Total current liabilities	8,187.96	9,675.46
Total liabilities	9,198.09	11,484.62
Total equity and liabilities	21,053.68	21,806.73

*Includes Payable to Banks under MSMED trade receivable discounting system (TReDS) Rs. 451.82 Million (March 31, 2021 Rs. 754.11 Million )

See accompanying notes forming part of the standalone financial results

H.G, Infra Englneering Um[ted Reed Office : 14, Panctiwati Calony, Rata nada, Jodhpur-34ZOO1, Rajasthan Tel: -911414106 040 Fax: +91-141-4106 044 £mall: cs@hglnfro.com ^/ebslte : Ar^r`Ai.Iiginfra .com

CIN No. - 145201RI2003Pl.C018049

Statement of Standalone unaudited cashfll]w for the half year ended September 30, 2021

		As at	(inount ln Rs. Mllllon)A6 at
Particulars		September 30, 20ZI	September 30, 2020
		unaudlted	Unaudlted
A)	Cash flow from operating actlvltles
	Profit before tax	2,129.05	640.73
	Adj.ustments for:
	Depreciation and amortisation expense	415.71	403.02
	Interest Income from financial assets at amortised cost	(28.82)	(25.88)
	Loss allowa nces	18.04
	Net loss on disposal of property, plant and equipment	3.02	13.48
	Net unrealised exchange (gal n)	(1.30)
	Net finance costs	243.95	259.38
	Operatlng P.out I)efore Work]ng Capltal Clianges	Z,779J;5	1,290.73
	Changes in working capital:
	Decrease ln trade receivables	267.SO	824.19
	( Increase ) / decrease in inventories	32.05	(176.76
	( Increase ) / decrease in contract assets	(296.5S)	707.36
	( Increase ) / decrease in other I:urrent assets	(4S9.62)	38.68
	Decrease in other nan current financial assets	2.63	0.11
	( Increase ) / decrease in other current financial assets	(11.76)	50.00
	Decrease in other nan current assets	8.91	0.71
		(1,146.44)	(796.95)
	( Decrease ) in trade payables
	( Decrease ) / increase in contract liabllities	(1,059.94)	439.99
	Increase / ( decrease ) in other current financial liabilities	(0.03)	0.01
	( Decrease ) in other current liabilities	(65.85)	(98.15)
	I ncrease in employee benefit obligations	50.01	12.52
	Cash generated from operations	loo.56	2,292.44
	Income taxes paid ( Net of refunds )	(484.87)	(17.49)
	Net cash generated from / (used ln) Operatlng Actlvltles	(384.31)	2,274.95
8)	Casl. Flo`^/ From Investing Acthutles
	Investment ln a subsidiaries	(146.68)	( 1,043.59)
	Payment for property, plant and equipment ( Including CWIP and capital advance )	(372.S7)	(249.85)
	Payment for Intangible assets	(0.62'
	Sale of property, plant and equipment	25.17	76.85
	Fb(ed deposits ( placed ) / redemption of fixed deposits (Net)	117.41	(223.23)
	I nterest received	28.82	25.88
	Loan to employees and related parties	(81.95)	(18.83)
	Net Cash tused ln) lm/estln€ Aedvltles	(430.42)	(1,432.77)
C)	Casli Flow From FlnanclilgActMtles
	Proceeds from of Long Term Borrowings	334.29	189.36
		(466.73)	(753.18)
	( Repayment ) of Long Term BorrowingsProceeds from / ( Ftepayment ) of Short term Borrowings ( Net )	(19.92)	57.98
	( F`epavment ) of Loans taken from Directors		(216.94)
	Loans taken from Directors		90.78
	Dividend paid to Company's shareholders	(52.14)
	Principal elements of lease payments	(6.10)	(20.76)
	Finance cost paid	(245.13)	(260.S5)
	Net Casli (used ln) Flnanc[ng Activides	(455.73)	(91331)
	Net Increase ]n cash and cash equhralents
	Cash and Cash Equivalents as at the beginning of the penod	(1,270.46)1,399.48	f71.13)239.82
	Casli and cash equh/alents at the end of tlie perlod
	Re(onclllatlon of Cash end cash equlvalents as per the casli flo`A/ statement
	Cash a nd cash equ.iva lents comprise of the following:
	Cash on hand
	Bank Balance on current account
	Total

See accompanyLng ncites form.Lng pa rt of the standalone financial results.

Notes :

• 1 The Statement include the results of H.G. Infra Engineering Limited (the 'Company') and its jointly controlled operations (HGIEPL -Ranjit JV, HGIEPL-MGCPL JV and HGIEPL -RPS JV). This statement has been prepared in accordance with the Companies (Indian Accounting Standarcls) Rules, 2015 (lnd AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 2 ln terms of Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Standalone financial results of the Company and its jointly controHed operations have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on November 8, 2021.
• 3 The Company and its jointly controlled operations are primarily engaged in the business of Engineering, Procurement and Construction (EPC) relating to roads, bridges, flyovers and infrastructure contract works and related activities. As such there is no separate reportable operating segment as defined by lnd AS 108 "Operating Segments".
• 4 During the six month ended on September 30, 2021, one wholly owned subsidiary HG Raipur Visakhapatnam AP-1 Private Limited has been incorporated by the Company.
• 5 The above standalone financial results of the Company are available on the Company's website (www.hginfra.com) and also on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com), where the equity shares of the Company are listed.
• 6 Previous period figures have been re-grouped / re-classified wherever necessary, to conform to current period's classification in order to comply with the reciuirements of the amended Schedule Ill to the Companies Act, 2013 effective April 1, 2021.

The Statutory auditors have digitally signed this Statement for identification purposes and this Statement should be read in conjunction with the review report dated November 8, 2021

;E:LSLHAENK;%t:aiYsil:E,n:ed GIA Date: 202 1 . 1 1 .08 14:51 :08 +05'30'

NITIN LOKUMAL KHATRl

Dlglcally sJgned by NITIN IOKUMAL quATRI Date: 2021 .1 1 .08 1 S:OS:46 cO5'30'

For and on behalf of the Board of Directors

Haiendra Singh Chairman and Managing Director DIN: 00402458 Place: Jalpur Date: NovpmhGr a. 2021

Review Report

To The Board of Directors H.G. Infra Engineering Limited Ill Floor, Sheel Mohar Plaza, A-1, Tilak Marg, C-Scheme, Jaipur-3o2ool Rajasthan, India

• 1. We have reviewed the consolidated unaudited financial results of H.G. Infra Engineering Limited in which are incorporated 3 Jointly controlled operations thereinafter referred to as the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries hereinafter referred to as the "Group"),(refer Note 1 on the Statement) for the quarter ended September 3o, 2o21 which are included in the accompanying Statement of Consolidated unaudited financial results for the Quarter and Six months ended September 3o, 2o21' , Statement of Consolidated unaudited Assets and Liabilities as at September 3o, 2o21' and `Statement of Consolidated unaudited cashflow for the half year ended September 3o, 2o21' (the "Statement"). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2ol5, as amended (the "histing Regulations"), which has been digitally signed by us for identification puxpos es.
• 1. This Statement, which is the responsibility of the Holding Company's Management and has been approvedbytheHoldingCompapy'sBoardOfmrectors,hasbeenpreparedinaocordancewiththe recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2ol3, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the statement in accordance with the standard on Review Engagements (SRE) 241o "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement.Areviewofinterimfinancialirformationcousistsofmakinginquines,primarilyofpersous responsible for financial and accoundng matters, and applyng analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2ol5, as amended, to the extent applicable.

1. The statement indudes the results of the following entities: HGIEPL -Ranjit JV, HGIEPL -MGCPL JV and HGIEPL - RPS JV being Jointly controlled operations, Gurgaon Sohna Highway Private Iinited, HG AIdi Namaul mgivway Private himited, HG Rewari Ateli Highway Private Limited, HG Rewari Bypass Private limited and H.G. Raipur Visakhapatnam AP-1 Plivate linited being subsidiaries.

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial results of 3 jointly controlled operations consolidated on proportionate basis included in the statement, whose results reflect total assets of Rs. 33.72 million and net assets of Rs. 6.o3 as at September 3o, 2o21 and total revenues of Rs. 8.74 million and Rs. 8.74 million, total net profit after tax of Rs. o.o6 million and Rs. o.o6 million and total comprehensive income of Rs. o.o6 million and Rs. o.o6 million for the quarter ended and for the period from April oi, 2o21 to September 3o, 2o21 respectively, and cash inflows (net) of Rs. 2.35 million for the period from April ol, 2o21 to September 3o, 2o21 , as considered in the respective interim financial results of the jointly contro)led operations included in the Company. The interim financial results of these jointly controlled operations have been reviewed by the other auditors whose reports have been furnished to us or other auditors, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these jointly controlled operations, is based solely on the report of such other auditors, who carried out their review and issued their unmodified conclusion vide their report as provided to us by the Management and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter.
• 1. We did not review the interim financial results of 5 subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total assets of Rs. 11,356.15 million and net assets of Rs. 3,231.78 million as at September 3o, 2o21 and total revenues of Rs. 2,Zoo.74 and Rs. 4,4og.7o million, total net profit after tax of Rs. 46.68 million and Rs. 167.67 million and total comprehensive income of Rs. 46.68 million and Rs.167.67 million, for the quarter ended and for the period fl.om April oi, 2o2i to September 3o, 2o21, respectively, and cash outflows (net) of Rs. o.73 million for the period from April ol, 2o21 to September 3o, 2o21, as considered in the consolidated unaudited financial results. These interim financial results have been reviewed by other auditors and their repolts, vide which they have issued an unmodified conclusion, have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disdosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter.

For Price Waterhouse & Co Chall:ered Accountants LLP Fimi Registration Number: 3o4o26E/E-3oooog

NITIN LOKUMAL KHATRl Dlgltally signed by NmN LOKUMAL

Nitin Khatri Partner Membership Number: 11o282 UDIN: 2111o282AAAAND9302

Date: November 8, 2o21 Place: Mumbai

For Shridhar & Associates Fimi Registration Number: 134427W

ABHISHEK :;g|i:Lis###NGiA PACHLANGIA#:!4e;:2£2+'6'51;%:

Abhishek Pachlangia Partner Membership Number: 12o593 UDIN: 2112o593AAAABR9368

Date: November 8, 2o21 Place: Munbal

H.G. Infra Engineering Llmlted Regd Office : 14, Panchwati Colony, Ratanada, Jodhpur-342001, Rajasthan Tel: -911414106040 Fax: +91-141-4106044 Email: cs@hginfra.com Webslte : w`hm/.hginfra.com CIN No. -L45201RJ2003PLC018049

Statement of Consolidated una udited financlal results for the Quarter and Six months ended September 30, 2021

							(Amount in Rs. Million
			QIJarter ended		Six months ended		Year ended
Sr.	Partlculars	September 30,	June 30,	September 30,	September 30,	September 30,	March 31,
No		2021	2021	2020	2021	2020	2021
		unaudited)	(Unaudited	(Unaudited)	Unaudited	(Unaudited)	(Audited)
1	Revenue from operations	7,815.53	9,413.99	4,833.45	17,229.52	7,952.19	26,022.54
2	Other income	49.62	33.27	14.91	82.89	41.42	148.46
3	Total Income (1+2	7,865.153,895.58	9,447.264,567.38	4,848.362,446.14	17,312.418,462.96	7,993.613,852.93	26,171.0011,856.52
45	Expenses(a)Costof materials consumed
	(b) Contract and site expenses	1,989.41	2,673.52	1,153.03	4,662.93	1,973.93	7,967.13
	(c) Employee benefits expense	316.01	314.13	261.60	630.14	488.07	1,107.90
	(d) Finance cost	278.20	257.81	206.54	536.01	388.32	941.58
	(e) Depreciation and amortisation expense	212.81	203.08	208.44	415.89	403.14	844.33
	(f) Other Expenses	103.03	99.92	65.83	202.95	120.58	333.60
	Total Expenses	6,795.04	8,115.84	4,341.58	14,910.88	1,"6.Sr'	23,051.06
	Profit before tax (34)	1,070.11244.19	1,331.42316.68	506.78123.66	2,401.53560.87	766.64178.80	3,119.94736.63
67	Income tax expense(a)CurrentTax
	(b) Deferred Tax	80.83	4.56	4.66	85.39	10.04	16.77
	Total Tax Expense	325.02	321.24	128.32	646.26	188.84	753.40
	Profit after Tax 5-6)	745.09(1.44)	1,010.18(1.22)	378A62.02	1,755.27(2.66)	577.804.04	2,366.54(4.72)
89	Other Comprehensive IncomeItemsthatwillnotbereclassified to profit or lossRemeasurementsofpost-employmentbenefitobligations
	Income tax relating to these items		0.31		0.67		1.19
	Tota I Other Comprehensive Income	0.36		(0.51)1.51		(1.02)3.02
		(1.08)	(0.91)		(1.99)		(3.53)
	Total Comi)rehenslve Income for the period (7+8)	744.016S1.7111.43*	1,009.27651.7115.50«	379.97651.715.81*	1,753.286S1.7126.93*	580.82651.718.87*	2,363.01651.719,973.9636.31
101112	Paid-up equity share capital(FaceValueofRs.10pershare)OtherEquity(excludingRevaluation Reserve) asshownintheAuditedBalanceSheetEarningsPerShare(ofRs.10pershare):BasicandDiluted

* Not annualised

See accompanying notes forming part of the consolidated financial results

H.G. Infra Engineering Limited

Regd Office : 14, Panchwati Colony, Ratanada, Jodhpur-342001, Rajasthan Tel: - 91 141 -4106 040 Fax: +91-141- 4106 044 Email: cs@hginfra.com

Website : www.hginfra.com

CIN No. - L45201RJ2003PLC018049

Statement of Consolidated unaudited Assets and Liabilities as at September 30, 2021

		(Amount in Rs. Million)
	As at	As at
Particulars	September 30, 2021	March 31, 2021
	Unaudited	Audited
ASSETS
Non-current assets
Property, plant and equipment	4,786.36	4,800.03
Right-of-use assets	8.33	10.44
Capital work-in-progress	23.35	18.07
Intangible assets	22.90	25.69
Financial assets
i. Trade receivables		40.70
ii. Other financial assets	6,801.51	4,200.36
Deferred tax assets	103.99	95.48
Non-currrent tax assets	151.77	131.53
Other non-current assets	10.69	48.02
Total non-current assets	11,908.90	9,370.32
Current assets
Inventories	1,648.03	1,680.08
Financial assets
i. Trade receivables	5,391.18	5,817.43
ii. Cash and cash equivalents	170.25	1,441.43
iii. Bank balances other than (ii) above	1,018.25	1,184.70
iv. Loans	7.50	5.96
v. Other financial assets	2,444.85	3,318.47
Contract assets	3,194.27	2,654.42
Other current assets	1,959.69	1,363.96
Total current assets	15,834.02	17,466.45
Total assets	27,742.92	26,836.77
EQUITY AND LIABILITIESEquityEquity share capital	651.71	651.71
Other equity
Reserves and surplus	11,675.10	9,973.96
Total equity	12,326.81	10,625.67
LIABILITIES
Non-current liabilities
Financial liabilities
i. Borrowings	6,854.43	5,570.40
ii. Lease liabilities	0.47	1.06
iii. Trade Payable	207.85	838.33
Deferred tax liabilities	127.46	34.23
Employee benefit obligations	33.94	24.87
Total non-current liabilities	7,224.15	6,468.89
Current liabilities
Financial liabilities
i. Borrowings *	2,319.71	2,094.72
ii. Lease liabilities	8.51	10.57
iii. Trade payables
(a) total outstanding dues of micro and small enterprises	4.61	13.45
(b) total outstanding dues other than (iii) (a) above	3,634.44	4,132.47
iv. Other financial liabilities	128.13	242.31
Contract liabilities	1,746.59	2,958.68
Employee benefit obligations	128.29	83.88
Current tax liabilities	138.61	73.79
Other current liabilities	83.07	132.34
Total current liabilities	8,191.96	9,742.21
Total liabilities	15,416.11	16,211.10

*Includes Payable to Banks under MSMED trade receivable discounting system (TReDS) Rs. 451.82 Million (March 31, 2021 Rs. 754.11 Million )

See accompanying notes forming part of the consolidated financial results

H.G. Infra Englneerlng Llmlted Regd office : 14, F.anchwati Colony, Ratanada, Jodhi)u r-342001, Rajasthan Tel: -911414106 040 Fax: nil-141-4106 044 Emall: cs@hginfro.com Website : A/A/`^/.hgjrlfra.com CI N No. -L45201R12003PLC018049

StatemE.nt Of Consolldated unaudlted cashflow for the half year ended September 30, 2021

		(Amount ln Rs. Mllllon)
	As at	As at
Partlculars	September 30, 2021	September 30, Z020
	Unaudlted	Unaudited
A) Casl` flow from opei.atlng actMtles
Profit before tax	2,401.53	766.64
Adjustments for:
Depreciation an d amortisation expense	415.89	403.14
Interest Income from financial assets at amortised cost	(29.74)	(25.88)
Lciss allowances	18.04
Net (ga.in)/ loss on disposal of property, plant and equipment	3.02	14.55
Net unreal'ised exchange gain)	(1.30)
Net finance casts	536.01	388.32
operating Profit before Working Capital Changes	3,343.45	1,546.77
Changes in working capital:
Decrease .in trade receivabl es	448.91	S55.96
( Increase ) / decrease in `inventories	32.05	(176.76)
( Increase ) / decrease in other current financial assets	873.62	1,306.66)
( Increase ) / decrease in contract assets	(539.85)	707.36
( Increase ) in other current assets	(595.74)	'83.83)
( Increase ) ln other non current financial assets	(2,SS2.07)	(356.81)
Decrease ln other current financial assets		50.00
Decrease in other non current assets	8.91	0.71
( Decrease ) in trade payables	(1,137.35)	(796.95)
Increase / ( decrease ) in contract liabil'ities	(1,201.08)	144.41
( Decrease ) in other current financial liabilities	(165.34)	(13.27)
( Decrease ) in other current liabilities	(43.68)	(114.68)
Increase in employee benefit obllgatioms	SO.82	12.61
Cash generated from operations	( 1,477.35)	168,86
Income taxes paid ( Not Of refunds )	(516.30)	(63.45)
Net cash generated from / (used ln) Operatlng Ac"tles	(1,993.6S)	105.41
8) Cash plow From Investing ActMties
Payment for property, plant and equipment	(372.55)	(250.08)
Payment for Intangible assets	(0.62)
Sale of I)ropertv, plant and equipment	25.17	72.86
Fixed deposits ( placed ) / redemption of fixed deposits I nat )	117.40	(223.23)
Interest received	29.74	25.88
lean given / repayment received ( nat )	(1.54)	1.89
Net Cash (used ln) lnvest]ng ActMtles	(202.40)	(]72.68)
C) Cash Flow From FlnancirlgActivities
Proceeds from of Long Term Borrowings	1,995.66	1,456.36
( Repayment ) of Long Term Borrowings	(466.73)	(753.18)
Proceeds from / ( Repayment ) of Short term Borrowings ( Net )	(19.92'	57.98
( Repayment ) Of loans taken from Directors		(216.94)
Loans taken from Directors		90.78
Dividend paid to Company's shareholders	(52.14)
Princ.ipal elements of lease i]ayments	(6.10)	(20.76)
F`inance cost paid	(525.90)	(400.17)
Net Casri generated from Flnanclng Acth/ltles	924.87	214.07
Net Increase ln cash and cash equlvalents	(1,Z71.18	(53.20)
Cash and Cash Equivalents as at the beginning of the period	1,441.43	245.75
Cash and cash equlvalents at tlie end of tlie perlod
Reconclllatlon Of Cash and cash equlvalents as per the cash flow statement
Cash and cash equivalents comprise of the following:
Cash on hand
Bank Balance on current account
Total	170.25	192.55

See accompanying notes forming part of the consolldated financial results.

Notes :

• 1 The Statement include the results of H.G. Infra Engineering Llmited (including 3 jointly controlled operation) ( "the Holding Company") and 5 subsidiaries (the Holding Company and its subsidiaries together referred to as ''the Group"). This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) prescribed under Sect'ion 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 2 ln terms of Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Consolidated financial results of the Group have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on November 8, 2021.

Summary of key standalone financial results is as follows:				(Amount in Fts. Ivl!Ilion)
Pa rticu[ars	Quar(erEndedSeptember 30,20Z1	QuarterEndedJune 30,2021	QuarterEndedSeptembe r 30,2020	Sb( months EndedSeptember 30,2021	SixmouthsEndedSeptember 30,Z020	Veal.EndedMa rch 31,2021
Reven ues from operations	7,496.13	9,117.29	4,673.96	16,613.42	7,653. 24	25,275.00
Profit before tax	931.64	1,197.41	439.34	2,129.05	640.73	2,821.14
Profit after tax	698.42	889.19	326. 64	1,587.61	477.54	2,109.60

Note: The above Standalone financial results af the Company are available on the Company's website (www.hginfra.com) and also on the website of BSE (www.bseindia.corn) and NSE (www.nseindia.com}, where the equity shares of the Company are listed. The information above has been extracted from the published standalone financial results.

• 4 The Group ls primarily engaged in the business of Engineering, Procurement and Construction (EPC) relating to roads, bridges, flyovers and infrastructure contract works and related activities. As such there is no separate reportable operating segment as defined by lnd AS 108 " Operating Segments".
• 5 The consolidated financial results include the financial results of the Holding Company (including 3 joint controlled operations -HGIEPL-Ranjit JV, HGIEPL-MGCPLJV and HGIEPL-RPS JV) and its subsidiaries -Gurgaon Sohna Highway Private Limlted, HG Ateli Narnaul Highway Private Limited, HG Rewari Ateli Highway Private umited, HG Rewari Bypass Private Limited and HG Raipur Visakhapatnam AP-1 Private Limited.
• 6 During the six month ended on September 30, 2021, one wholly owned subsidiaries HG aalpur Visakhapatnam AP-1 Private Limited have been incorporated by the Company.
• 7 The above Consolidated fi.nancial results of the Group are available on the Company's website (www.hginfra.com) and also on tlie website Of BSE (www.bseindia.corn) and NSE (www.nseindia.com), where the equity shares of the Company are listed.
• 8 Previous period figures have been re-grouped / re-classified wherever necessary. to conform to current period's classification in order to comply with the reqiiirements of the amended Schedule Ill to the Companies Act, 2013 effective April 1, 2021.

For and on behalf of the Board Of Dlrectors

( f^T&*ir-to HAREND:Lnigk=rf"¥= RASINGH¥JT£Tgg¥: \_\_ \_ 1* 1

Harendra Slngh Chairman and Ivlanaglng Dlrector I)lN: 00402458 Place: Jaipu' Date: November 8. Z021

ABHISHEK(::gli:'lyE:gneddy PACHLAN, ' PACHLANGIA G |A i::t5eTY3:2J6'51;°o?

The Statutory auditors have digitally signed this Statement for identification piirposes and this Statement should be read in conjunction with the review report dated November 8, 2021

NITIN	Dlgltally signed by
LOKUMA
KHATRl	Date: 2021.11.0815:06:48 +05'30'