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ISGEC Heavy Engineering Ltd

NSE: ISGEC BSE: 533033Metal

ISGEC Heavy Engineering Ltd is a diversified heavy engineering company engaged in manufacturing and project business with an extensive global presence. It manufactures process plant equipment, presses, Iron & Steel castings & Boiler pressure parts. It also undertakes turnkey projects for setting-up boilers, power plants, sugar plants, distilleries, factories and others. It also has strengths in the business of construction.[1] It is also engaged in the business of manufacture of sugar and its by-products through a subsidiary.[2]

₹1,045
52W: ₹683 — ₹1284
PE 24.1 · Book ₹347 · +201% vs book
Market Cap₹7,686 Cr
Stock P/E24.1Price to Earnings
ROCE17%Return on Capital
ROE12.7%Return on Equity
Div. Yield0.47%Face Value ₹1

Weaknesses

  • −The company has delivered a poor sales growth of 0.50% over past five years.
  • −Company has a low return on equity of 11.3% over last 3 years.
  • −Earnings include an other income of Rs.145 Cr.
  • −Company has high debtors of 219 days.

Shareholding Pattern

Promoters62.43%
FIIs3.85%
DIIs10.31%
Public23.4%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.43%62.43%62.43%62.43%62.43%62.43%62.43%62.43%
FIIs3.83%3.91%▲0.14.2%▲0.33.47%▼0.73.53%▲0.13.48%▼0.03.6%▲0.13.85%▲0.3
DIIs8.82%11.26%▲2.411.57%▲0.311.11%▼0.510.63%▼0.510.39%▼0.210.47%▲0.110.31%▼0.2
Public24.91%22.4%▼2.521.81%▼0.623%▲1.223.39%▲0.423.67%▲0.323.5%▼0.223.4%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,1141,0671,5501,2151,2401,1191,4449841,2431,327
Expenses1,0209851,4361,1131,1261,0291,3409081,1501,221
Operating Profit9482114103114901037693106
OPM %8%8%7%8%9%8%7%8%7%8%
Net Profit53447188835963878475
EPS ₹7.216.019.6212.0411.347.988.5911.7811.4710.22

AI Insights

Revenue Trend

TTM revenue at ₹4,998Cr, down 0.4% YoY. OPM at 8%.

Debt Position

Borrowings at ₹612Cr. Debt-to-equity ratio: 0.24x. Healthy balance sheet.

Capex Cycle

CWIP at ₹88Cr (18% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 10.31% (+2.14pp change). FIIs: 3.85% (+1.08pp change). Promoters hold 62.43%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 17% (Mar 2025). Working capital days: 96.

Valuation

PE 24.1x with 17% ROCE. Price is 201% above book value of ₹347. Dividend yield: 0.47%.

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