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    Engineering & construction
ISGEC Heavy Engineering Ltd.

ISGEC Heavy Engineering Ltd.

870.00
INR
-20.60
(-2.31%)
42.55EPS
34.62P/E
67.87BMarket Cap
Nov 04Next Earn
ISGEC Heavy Engineering Ltd.
BSE:ISGEC
(Bombay Stock Exchange)

Recent

price

870.00

P/E

ratio

34.62

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
282.91
368.28
403.9
388.78
513.94
601.44
517.71
494.59
673.33
775.9
713.41
747.93
857.55
838.57
866.47
909.54
1,015
Revenue per Share
8.98
11.99
12.73
11.1
16.02
25.12
32.92
21.39
19.42
19.65
33.71
14.8
26.72
33.14
25.79
14.81
26.66
Basic EPS, GAAP
7.49
17.31
-16.12
32.98
24.04
-1.63
19.56
-0.26
-49.43
-45.17
-2.1
-18.5
6.78
66.65
-16.97
81.15
- -
Free Cash Flow per Basic Share
2.19
0.11
0.98
1
1.7
1.99
2.47
3.24
0.72
3.63
2.34
1.41
2.36
3.43
4.38
5.59
- -
Dividend per Share
64.89
75.72
87.11
97.21
117.5
139.92
170.5
187.83
206.07
242.7
274.92
288.45
313.39
343.07
364.38
372.18
- -
Book Value per Share
59.07
70.42
82.28
89.73
110.01
132.78
164.32
180.63
195.63
233.44
266.48
279.7
304.18
334.98
357.16
364.87
- -
Tangible Book Value per Share
74
74
74
74
74
74
74
74
74
74
74
74
74
74
74
74
73
Basic Weighted Avg Shares
20,851
27,140
29,766
28,651
37,790
44,224
38,067
36,367
49,510
57,051
52,457
54,993
63,056
61,660
63,711
66,878
74,579
Sales/Revenue/Turnover
44.31
5.18
4.76
3.91
2.28
5.9
7.76
4.06
4.83
3.56
6.89
3.82
6
7.19
6.15
5.86
5.81
Operating Margin (%)
417
492
554
644
825
757
753
807
825
1,012
1,009
1,014
1,043
1,014
1,746
2,783
1,869
Depreciation Expense
662
884
938
818
1,178
1,847
2,421
1,573
1,428
1,445
2,479
1,088
1,965
2,437
1,897
1,089
1,959
Net Income, GAAP
33.19
30.69
32.43
38.43
34.25
32.88
32.32
32.92
36.54
30.46
28.87
27.27
29.13
25.82
37.36
49.97
33.48
Effective Tax Rate (%)
3.17
3.26
3.15
2.86
3.12
4.18
6.36
4.32
2.88
2.53
4.72
1.98
3.12
3.95
2.98
1.63
2.63
Profit Margin (%)
1,214
3,909
5,182
5,353
6,664
7,780
8,676
10,385
11,245
8,397
10,148
10,743
12,527
12,414
14,567
16,869
- -
Working Capital
2,206
601
1,182
707
661
630
198
- -
560
4,130
4,921
4,893
4,582
4,277
4,228
5,351
- -
LT Debt
4,782
5,580
6,926
7,609
9,102
10,822
13,141
14,530
15,868
18,593
20,993
22,021
23,921
26,185
27,893
28,877
- -
Total Equity
94.45
13.49
12.37
7.51
5.1
11.58
12
6.01
8.54
6.39
8.93
4.93
7.5
9.26
6.7
4.91
- -
Return on Invested Capital (%)
13.84
14.59
13.13
10.14
10.52
13.93
15.82
9.73
8.87
7.01
9.24
4.6
6.68
7.82
5.83
2.69
- -
Return on Capital (%)
14.79
17.05
15.63
12.05
14.91
19.52
21.21
11.94
9.86
8.76
13.02
5.25
8.88
10.1
7.29
4.02
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
4,158
- -
LT Borrowings
- -
5,174
- -
LT Finance Leases
- -
177
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
74
74
74
Market Capitalization
67,199
63,434
67,868

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
60,343
- -
Cash, Cash Equivalents & STI
- -
4,108
- -
Accounts Receivable, Net
- -
27,513
- -
Inventories
- -
16,526
- -
Total Current Liabilities
- -
43,474
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
4,158
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.43%
6.61%
3.53%
Free Cash Flow
1,827.18%
164.8%
-578.27%
Net Income, GAAP
4.33%
-3.25%
-42.57%
Sales/Revenue/Turnover
5.05%
5.12%
4.97%
Total Cash Common Dividend
47.28%
25.72%
27.53%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
15,386
16,439
14,954
17,448
63,711
2026
13,563
16,911
17,386
20,483
66,878
2027
19,800
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
8.9
12.59
2.73
1.57
25.79
2026
0.94
5.98
9.49
9.96
14.81
2027
1.22
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
4.38
2026
- -
- -
- -
- -
5.59
2027
- -
- -
- -
- -
- -
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Business
Isgec Heavy Engineering Limited (ISGEC.NS) is an Indian multi-product heavy engineering company that manufactures and supplies a diversified portfolio of industrial equipment and provides engineering, procurement, and construction (EPC) services to customers across 92 countries. The company offers core products and services including process equipment such as high-pressure reactors, pressure vessels, heat exchangers, distillation columns, coke drums, and liquefiable gas containers; industrial boilers encompassing circulating fluidized bed combustion (CFBC) boilers, waste heat recovery boilers, heat recovery steam generators, pin hole grate boilers, and oil and gas fired boilers; sugar plants and machinery comprising sugarcane mills, juice evaporators, vacuum pans, and sugar refineries; mechanical and hydraulic presses including heavy forging presses and press hardening lines; EPC projects for power plants, sugar plants, distilleries, bulk material handling systems, and industrial wastewater treatment; steel and iron castings for mining, automotive, and heavy machinery applications; and air pollution control equipment such as electrostatic precipitators, dry sorbent injection systems, and flue gas desulfurization units. It also provides contract manufacturing services utilizing facilities in India and Canada. Founded in 1933 as Saraswati Sugar Syndicate and headquartered in Noida, India, with manufacturing plants in Yamunanagar, Dahej, Bawal, Muzaffarnagar, and other locations across Haryana, Uttar Pradesh, Gujarat, Tamil Nadu, and Maharashtra, the company operates in key industry segments including power, oil and gas, petrochemicals, fertilizers, refineries, chemicals, sugar and distilleries, cement, steel, and environmental solutions. In recent developments, Isgec Heavy Engineering acquired a 26% equity stake in FPEL HR1 Energy Private Limited for Rs. 2.24 crore on October 6, 2025, to support its green energy initiatives and optimize energy costs. The company has secured multiple new orders within the past year, including oil and gas fired boilers for a refinery project in Haryana, boilers from Panchganga Sugar and Power in Maharashtra, and dry sorbent injection system packages from state power utilities. It maintains strategic technology partnerships and joint ventures with global players such as Hitachi Zosen Corporation (Japan), Amec Foster Wheeler (now Sumitomo SHI FW), AP&T (Sweden), Babcock Power (USA), and others for advanced boilers, reactors, presses, and pollution control technologies.