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Isgec Heavy Engineering Limited ISGEC NSEINFRA

Industrials · Specialty Industrial Machinery · India
https://www.isgec.com

Isgec Heavy Engineering Limited provides engineering solutions worldwide. It operates in two segments, Manufacturing of Machinery & Equipment; and Industrial Projects. The company provides process plant equipment, including reactors, high pressure vessels, shell and tube heat exchangers, columns and towers, and high pressure boiler drums; boilers, such as solid and biomass fuels, bagasse and biomass, oil and gas fired, blast furnace gas fired, waste to energy, and heat recovery boilers, as well as auxiliaries comprising air pollution control equipment, bag filters, SCR/SNCR, flue gas desulphurization systems, and deaerators; and site construction and commissioning, operation and maintenance, supervision, retrofitting and modernization, residual life assessment studies, spares, and technical assistance services. It also offers engineering, procurement, and construction services; sugar plants and machinery that include mills, diffusers, process house equipment, sugar refinery, turnkey distillery plants, and spares and retrofits; presses, such as mechanical and hydraulic straight sided, mechanical gap and ring frame, and servo presses; and steel castings, including steam/gas turbine, hydro turbine, valve, pump, mining and crushing, and general engineering castings. In addition, the company provides iron castings, air pollution control equipment, and liquefied gas containers, as well as contract manufacturing services. Further, it manufactures and sells sugar and its by-products, and ethanol and its by-products. It serves power, fertilizer, sugar and distillery, oil and gas, petrochemicals, automobile, steel, defense, cement, and chemicals industries. The company was formerly known as The Saraswati Industrial Syndicate Limited and changed its name to Isgec Heavy Engineering Limited in 2011. The company was incorporated in 1933 and is based in Noida, India.

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₹929.80
-25.71% 1Y

Market & Price

Market Cap
₹6,836.77 Cr
Current Price
₹929.80
High / Low (52W)
₹1,262.60 / ₹694.50
Beta
0.38

Valuation

Stock P/E
62.91
Industry PE
27.78
Forward P/E
-
PEG Ratio
-
Book Value
₹372.20
Price to Book
2.50
P/S
1.01
EV/EBITDA
13.51
Dividend Yield
0.54%

Profitability & Returns

ROCE
10.54%
ROE
5.37%
ROA
2.14%
Profit Margin
1.60%
Op Margin
4.31%
EPS (Latest Qtr)
₹9.96
EPS (TTM)
₹14.78

Balance Sheet & Liquidity

Debt/Equity
0.33
Quick Ratio
0.73
Current Ratio
1.39
Debt
₹950.91 Cr
Total Assets
₹8,077.14 Cr
Current Assets
₹6,034.34 Cr
Working Capital
₹1,686.89 Cr

Ownership

Promoter Holding
63.15%
Chg in Prom Hold
-
FII / Inst Holding
12.03%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹7,496.41 Cr
Total Revenue (TTM)
₹6,789.26 Cr
EBITDA
₹554.73 Cr
Free Cash Flow
₹1,561.14 Cr
Operating Cash Flow
₹764.97 Cr
Shares Outstanding
₹7.35 Cr
Gross Margin
35.34%
Payout Ratio
33.76%

Growth (CAGR)

Revenue 5Y
2.49%
Profit 5Y
-17.85%
Revenue (YoY)
17.40%
Earnings (YoY)
4.10%

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 62.9.
  • Earnings shrank at -17.9% CAGR over 5 years.
  • Trading 26.4% below its 52-week high.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 ISGEC Isgec Heavy Engineering Limited NSEINFRA 929.80 62.91 ₹6,836.77 Cr 0.54% 10.54% 5.37% 2.49% -17.85%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
8 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
9 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --1,744.77 Cr1,340.99 Cr1,691.09 Cr1,738.56 Cr2,048.28 Cr
Cost of Revenue --1,195.57 Cr864.92 Cr1,108.22 Cr1,103.07 Cr1,314.10 Cr
Gross Profit --549.20 Cr476.07 Cr582.87 Cr635.49 Cr734.18 Cr
Operating Expenses --475.88 Cr381.78 Cr462.11 Cr469.66 Cr645.99 Cr
Operating Income --73.32 Cr94.29 Cr120.76 Cr165.83 Cr88.19 Cr
EBITDA --147.31 Cr138.00 Cr181.78 Cr194.98 Cr218.52 Cr
Interest Expense --25.92 Cr16.36 Cr19.20 Cr16.72 Cr20.11 Cr
Pretax Income --50.08 Cr95.73 Cr135.94 Cr150.41 Cr130.77 Cr
Tax Provision --31.66 Cr31.79 Cr37.94 Cr38.24 Cr45.80 Cr
Net Income --11.57 Cr52.25 Cr43.95 Cr69.78 Cr73.23 Cr
Diluted EPS --1.577.115.989.499.96

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -6,305.56 Cr6,165.97 Cr6,425.01 Cr6,789.26 Cr
Cost of Revenue -4,910.77 Cr4,722.76 Cr4,406.78 Cr4,389.65 Cr
Gross Profit -1,394.79 Cr1,443.21 Cr2,018.23 Cr2,399.61 Cr
Operating Expenses -1,016.66 Cr999.68 Cr1,666.15 Cr2,123.22 Cr
Operating Income -378.13 Cr443.52 Cr352.08 Cr276.39 Cr
EBITDA -462.54 Cr543.59 Cr566.13 Cr671.34 Cr
Interest Expense -68.21 Cr58.82 Cr65.22 Cr85.10 Cr
Pretax Income -290.03 Cr383.32 Cr326.28 Cr307.90 Cr
Tax Provision -84.49 Cr98.97 Cr121.89 Cr153.86 Cr
Net Income -196.49 Cr243.67 Cr189.66 Cr108.93 Cr
Diluted EPS 14.8026.7233.1425.79-

Compounded Sales Growth

5 Years:2.49%
1 Year:17.40%

Compounded Profit Growth

5 Years:-17.85%
1 Year:4.10%

Stock Price Performance

1 Year:-25.71%
6 Months:+12.49%
3 Months:+6.88%
1 Month:-13.29%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -7,074.72 Cr7,835.17 Cr8,041.46 Cr8,077.14 Cr
Current Assets -5,161.66 Cr5,735.30 Cr6,921.28 Cr6,034.34 Cr
Cash & Equivalents -168.15 Cr142.62 Cr92.36 Cr324.22 Cr
Inventory -1,163.84 Cr1,410.34 Cr1,477.47 Cr1,652.65 Cr
Receivables -2,819.51 Cr2,928.69 Cr2,832.64 Cr2,751.30 Cr
Total Liabilities -4,682.63 Cr5,216.63 Cr5,192.64 Cr5,189.47 Cr
Current Liabilities -3,908.95 Cr4,493.90 Cr4,671.12 Cr4,347.45 Cr
Long Term Debt -432.86 Cr406.49 Cr221.18 Cr517.42 Cr
Total Debt -1,235.30 Cr814.39 Cr860.51 Cr950.91 Cr
Total Equity -2,304.32 Cr2,522.56 Cr2,738.77 Cr2,736.58 Cr
Shares Outstanding -7.35 Cr7.35 Cr7.35 Cr7.35 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -207.65 Cr735.16 Cr116.18 Cr764.97 Cr
Investing Cash Flow --58.44 Cr-232.37 Cr-304.11 Cr-130.60 Cr
Financing Cash Flow --97.76 Cr-486.83 Cr108.40 Cr-341.25 Cr
Capital Expenditure --157.80 Cr-245.10 Cr-240.95 Cr-168.28 Cr
Free Cash Flow -49.85 Cr490.06 Cr-124.77 Cr596.69 Cr
Net Change in Cash -51.44 Cr15.97 Cr-79.53 Cr293.12 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -22.1%23.4%31.4%35.3%
Operating Margin % -6.0%7.2%5.5%4.1%
Net Margin % -3.1%4.0%3.0%1.6%
ROE % -8.5%9.7%6.9%4.0%
ROCE % -11.9%13.3%10.4%7.4%

Shareholding Pattern

Insiders
63.15%
Institutions
12.03%
Public Float
32.64%

Analyst View

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