Highway Infrastructure IPO Review & Recommendations

Highway Infrastructure IPO Peer Comparison

Highway Infrastructure Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Source: Audited financial statements of Fiscal 2025 on a consolidated basis (unless otherwise available only on standalone basis), submitted to stock exchanges, except in case of EPS which has been computed after excluding exceptional items.

Our peer group companies may not be comparable to us due to size, revenue composition, nature & size of projects, profitability, etc. For details, please see “8. Comparison of Key Performance of Indicators with our listed industry peers”.

Notes:

P/E Ratio has been computed based on the closing market price of equity shares on NSE as on June 27, 2025, divided by EPS.

RoNW (%) = Net profit after tax divided by Net worth as at the end of the year/ period

Net worth has been defined under Regulation 2(1)(hh)of the SEBI ICDR Regulations as the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation

Net Asset Value per Equity Share means Net worth divided by number of Equity Shares outstanding at end of the year.