Highway Infrastructure IPO Review

Highway Infrastructure is an infrastructure development and management Company. The Company is engaged in the business of tollwa collection, EPC Infra and real estate business. While the Company’s business spans facets of infrastructure development and management, tollway collection stands out as a significant mix of its business, driving the revenues and financial performance.

The Company is led by experienced Promoters and a qualified management team with diverse expertise. Managing Director Arun Kumar Jain oversees planning, coordination, and overall management. Whole-time Director and CFO Anoop Agrawal handles finance, government coordination, and new business initiatives. CEO Ankit Tandon manages daily operations, including bidding, execution, and delivery.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 5,044.78 Million, ₹ 5,765.76 Million and ₹ 4,568.33 Million. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 400.85 Million, ₹ 415.64 Million and ₹ 293.87 Million. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 223.98 Million, ₹ 214.14 Million and ₹ 138.00 Million respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 3.4 and post-issue EPS of ₹ 2.74 for FY24. The pre-issue P/E ratio is 20.58x, while the post-issue P/E ratio is 25.52 against the Industry P/E ratio is 29x. The company's ROCE for FY24 is 16.56%, ROE for FY24 is 19.03% and RoNW is 19.03%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Highway Infrastructure showing listing gains of 28.57 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply to the Highway Infrastructure Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.