H.G. Infra profit drops 33% as CBI probes employees
Standalone profit fell to ₹389 crore for FY26. Auditors flagged an ongoing CBI investigation into four staff members, though management claims no financial impact.
— 4 earlier stories on H.G. Infra Engineering Ltd. →What's new
- Standalone revenue fell 6.4% to ₹5,667 crore for FY26.
- Profit after tax dropped to ₹389 crore from ₹577 crore in the prior year.
- Vikas Jain replaces Rajeev Mishra as CFO; board declared a ₹2 per share dividend.
- Auditors flagged an ongoing CBI investigation involving four employees.
Why this matters
A double-digit profit decline combined with a CBI probe creates a difficult narrative for the company. While management insists the investigation has no financial impact, the auditor's emphasis of matter signals that the issue remains a live risk.
What we're watching
- Updates on the scope and nature of the CBI investigation.
- Whether the new CFO appointment signals a shift in financial strategy.
- Margin recovery in the coming quarters.
The full read
H.G. Infra Engineering closed FY26 with a 32.6% decline in standalone profit after tax, falling to ₹389 crore from ₹577 crore in the previous year. Revenue also slipped, dropping 6.4% to ₹5,667 crore. Alongside the weaker financials, the company disclosed that auditors have flagged an ongoing CBI investigation involving four employees. Management claims there is no financial impact from the probe, yet the auditor's emphasis of matter ensures the issue remains on the record. The board has opted for a leadership change, appointing Vikas Jain as CFO while moving Rajeev Mishra to head investor relations. A final dividend of ₹2.00 per share was recommended. The combination of a sharp profit contraction and a federal investigation creates a challenging backdrop for the new finance head. The open question is whether the CBI probe remains contained to the four individuals named.
Questions answered
- How did H.G. Infra perform in FY26?
- The company saw a 6.4% decline in standalone revenue to ₹5,667 crore and a 32.6% drop in profit after tax to ₹389 crore.
- What is the status of the CBI investigation?
- Auditors noted an ongoing CBI probe involving four employees. Management maintains that the investigation will have no financial impact on the company.
- Who is the new CFO?
- Vikas Jain has been appointed as the new CFO. The former CFO, Rajeev Mishra, will transition to lead investor relations.
- What dividend did the board recommend?
- The board recommended a final dividend of ₹2.00 per share for the fiscal year.
Story so far
All notes on HGINFRA →- 29 May 2026 · 4:15 PM IST H.G. Infra profit drops 33% as CBI probes employees
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