ISGEC - ISGEC Heavy Engineering Limited Share Price

Construction

₹875.35-20.95(-2.34%)

Market Closed as of Sep 29, 2025, 15:30 IST

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Valuation
Market Cap	6.95 kCr
Price/Earnings (Trailing)	29.46
Price/Sales (Trailing)	1.11
EV/EBITDA	13.33
Price/Free Cashflow	-52.96
MarketCap/EBT	17.16
Enterprise Value	7.7 kCr

Fundamentals
Revenue (TTM)	6.27 kCr
Rev. Growth (Yr)	-12.3%
Earnings (TTM)	255.39 Cr
Earnings Growth (Yr)	-12.7%

Profitability
Operating Margin	6%
EBT Margin	6%
Return on Equity	8.96%
Return on Assets	3.18%
Free Cashflow Yield	-1.89%

Price to Sales Ratio

Latest reported: 1

Revenue (Last 12 mths)

Latest reported: 6 kCr

Net Income (Last 12 mths)

Latest reported: 255 Cr

Growth & Returns
Price Change 1W	-4.3%
Price Change 1M	-7.9%
Price Change 6M	-9.9%
Price Change 1Y	-33.6%
3Y Cumulative Return	23.7%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-296.54 Cr
Cash Flow from Operations (TTM)	108.61 Cr
Cash Flow from Financing (TTM)	108.4 Cr
Cash & Equivalents	92.36 Cr
Free Cash Flow (TTM)	-131.27 Cr
Free Cash Flow/Share (TTM)	-17.85

Balance Sheet
Total Assets	8.04 kCr
Total Liabilities	5.19 kCr
Shareholder Equity	2.85 kCr
Current Assets	5.87 kCr
Current Liabilities	4.35 kCr
Net PPE	920.83 Cr
Inventory	1.48 kCr
Goodwill	10.02 Cr

Capital Structure & Leverage
Debt Ratio	0.1
Debt/Equity	0.3
Interest Coverage	6
Interest/Cashflow Ops	2.88

Dividend & Shareholder Returns
Dividend/Share (TTM)	5
Dividend Yield	0.53%
Shares Dilution (1Y)	0.00%
Shares Dilution (3Y)	0.00%

Pros

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Past Returns: Outperforming stock! In past three years, the stock has provided 23.7% return compared to 11.2% by NIFTY 50.

Balance Sheet: Reasonably good balance sheet.

Size: Market Cap wise it is among the top 20% companies of india.

Cons

Growth: Poor revenue growth. Revenue grew at a disappointing -1.9% on a trailing 12-month basis.

Smart Money: Smart money looks to be reducing their stake in the stock.

Technicals: SharesGuru indicator is Bearish.

Momentum: Stock is suffering a negative price momentum. Stock is down -7.9% in last 30 days.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	0.53%
Dividend/Share (TTM)	5
Shares Dilution (1Y)	0.00%
Earnings/Share (TTM)	32.1

Financial Health
Current Ratio	1.35
Debt/Equity	0.3

Technical Indicators
RSI (14d)	17.18
RSI (5d)	15.52
RSI (21d)	36.36
MACD Signal	Sell
Stochastic Oscillator Signal	Buy
Grufity Signal	Sell
RSI Signal	Buy
RSI5 Signal	Buy
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Sell
SMA 20 Signal	Sell
SMA 50 Signal	Sell
SMA 100 Signal	Sell

Summary of Latest Earnings Report from ISGEC Heavy Engineering

Summary of ISGEC Heavy Engineering's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated:

Management Outlook and Major Points:

1. Financial Performance:

Standalone Growth: Q1 FY25 standalone revenue rose 7% YoY to Rs.1,243 Cr, with PBT up 42% to Rs.111 Cr. Consolidated revenue increased 11% to Rs.1,549 Cr, and PBT grew 33% to Rs.96 Cr.
Debt Reduction: Net standalone debt turned into a surplus of Rs.133 Cr (vs. Rs.356 Cr net debt in Q1 FY23). Consolidated debt reduced by 54% to Rs.491 Cr (vs. Rs.1,066 Cr in Q1 FY23).

2. Order Book & Pipeline:

Strong Order Book: Consolidated order book at Rs.7,741 Cr (69% projects, 31% manufacturing), including Rs.1,316 Cr in international orders. Subsidiary ISGEC Hitachi Zosen holds Rs.1,022 Cr orders.
Robust Demand: Inquiry pipeline remains strong across sectors, with export inquiries improving.

3. Margins & Growth Targets:

Manufacturing Margins: Sustained at ~13.5% due to operational efficiency and capacity expansion. Double-digit margins expected to continue.
Projects Business: Focus on shorter-duration, technology-led orders to improve margins (currently ~5%).
Revenue Guidance: Early double-digit consolidated revenue growth targeted for FY25.

4. Philippines Ethanol Plant:

Operational Update: Temporarily shut for corrective actions; expected to restart by August-end. Full-capacity operations (Rs.500 Cr annual revenue) targeted from mid-November 2024, with 23"“24% EBITDA margins.

5. Subsidiaries & Exports:

ISGEC Hitachi Zosen: Executing a healthy order book; margins improving.
Eagle Press (Canada): Returned to profitability (Rs.9 Cr PBT in Q1) after losses.

6. Sectoral Outlook:

Captive Power & Waste Heat Recovery: Demand remains robust due to decarbonization trends.
Thermal Power: Focus on smaller balance-of-plant packages (e.g., material handling) rather than large boilers.

7. Debt & Capex:

FY25 standalone capex guided at Rs.60 Cr. Net debt-free standalone position likely by FY25-end.

Key Risks: Global economic uncertainty, chemical sector slowdown, and Philippines plant delays. Execution of legacy FGD orders (Rs.400 Cr pending) remains a near-term focus.

Q&A Session

Last updated:

1. Question: "Sir, first of all, thank you very much for this opportunity. My question is specifically pertaining to couple of segments. So, I just wanted to get some idea how is the captive power market in India? Based on your assessment for FY25, how big can be the market for captive power India, if you can help on this number with in terms of mega wattages, it would be really very helpful? Also, according to you, what can be the outlook for waste heat recovery plants in India for next couple of years?"
Answer: Management stated the captive power plant demand remains robust, driven by process industries needing steam and power. Waste heat recovery demand is tied to decarbonization efforts. No specific figures were provided, but the outlook is positive.

2. Question: "Do we intend to get into the thermal power plant boiler market (e.g., 800 MW boilers)?"
Answer: ISGEC will focus on smaller packages (e.g., material handling, piping) for thermal plants but avoid large boiler projects like 800 MW units.

3. Question: "How does consolidated PAT differ from standalone PAT? What are the subsidiary contributions?"
Answer: Subsidiaries like Saraswati Sugar Mills (INR 20 crore profit), ISGEC Hitachi Zosen (INR 5 crore profit), and Eagle Press (INR 9 crore profit) contributed. Losses in the Philippines project (INR 29 crore) included forex mark-to-market adjustments. Dividends from subsidiaries were adjusted in consolidation.

4. Question: "What is the margin outlook for industrial projects and steps to improve them?"
Answer: Margins for industrial projects (~5%) may improve gradually by prioritizing shorter-duration, technology-led projects with less civil work. Double-digit margins are unlikely in this segment.

5. Question: "Is the 13.5% manufacturing margin sustainable? What drives it?"
Answer: Margins are sustainable due to expanded capacities (e.g., foundry, boilers) and improved order pricing. Subsidiary contributions (e.g., Hitachi Zosen, Eagle Press) also boosted margins.

6. Question: "What is the status of the Philippines ethanol plant?"
Answer: The plant produced 3.5 million liters of ethanol but is temporarily shut for corrections. It is expected to restart in August and operate at full capacity by mid-November, targeting INR 500 crore annual revenue with ~24% EBITDA margins.

7. Question: "What is the capex guidance for FY25 and FY26?"
Answer: FY25 capex is ~INR 60 crore for engineering business. FY26 plans are undecided.

8. Question: "What is the order book trajectory and growth outlook?"
Answer: Consolidated order book stands at INR 7,741 crore (69% projects, 31% manufacturing). FY25 revenue is expected to grow in early double digits, driven by manufacturing.

9. Question: "Will the Philippines plant be sold?"
Answer: No immediate plans; focus is on stabilizing operations. Disposal updates will be shared later.

10. Question: "What is the net debt position?"
Answer: Consolidated net debt reduced to INR 491 crore (down 54% YoY). Standalone net surplus is INR 133 crore. Full-year debt reduction is expected but not elimination.

Revenue Breakdown

Analysis of ISGEC Heavy Engineering's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

Revenue

Last Updated: Mar 31, 2025

Description	Share	Value
Industrial Projects	51.6%	982.7 Cr
Manufacturing of Machinery & Equipment	35.1%	667.2 Cr
Sugar	9.8%	186.3 Cr
Ethanol	3.5%	67 Cr
Total		1.9 kCr

Share Holdings

Understand ISGEC Heavy Engineering ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
THE YAMUNA SYNDICATE LTD	45%
RANJIT PURI	8.97%
ADITYA PURI	6.21%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND	5.96%
N. A. COLD STORAGES PVT. LTD.	2.04%
3P INDIA EQUITY FUND 1	1.26%
SHRI PARASRAM HOLDINGS PRIVATE LIMITED	1.15%
NINA PURI	0.22%
TANU PRIYA PURI	0%
TANVI PURI	0%
NAYNA PURI	0%
ASHOK BHAN	0%
AKSHAY BHAN	0%
RANJIT PURI HUF	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is ISGEC Heavy Engineering Better than it's peers?

Detailed comparison of ISGEC Heavy Engineering against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LT	Larsen & Toubro	5.05 LCr	2.69 LCr	+2.00%	-3.10%	31.84	1.88	-	-
BHEL	Bharat Heavy Electricals	82.18 kCr	28.88 kCr	+9.00%	-16.40%	284.35	2.85	-	-
THERMAX	Thermax	39.53 kCr	10.59 kCr	+1.40%	-37.40%	55.68	3.73	-	-
KIRLOSBROS	Kirloskar Brothers	15.74 kCr	4.51 kCr	-2.50%	+17.30%	37.76	3.49	-	-
TRIVENI	Triveni Engineering & Industries	7.66 kCr	7.3 kCr	+1.20%	-26.80%	36.89	1.05	-	-

Sector Comparison: ISGEC vs Construction

Comprehensive comparison against sector averages

Comparative Metrics

ISGEC metrics compared to Construction

Category	ISGEC	Construction
PE	29.47	33.09
PS	1.11	1.69
Growth	-1.9 %	9 %

Performance Comparison

ISGEC vs Construction (2022 - 2025)

Key Insights

1. ISGEC is NOT among the Top 10 largest companies in Civil Construction.
2. The company holds a market share of 1.2% in Civil Construction.
3. In last one year, the company has had a below average growth that other Civil Construction companies.

Income Statement for ISGEC Heavy Engineering

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	3.3%	6,422	6,219	6,399	5,499	5,426	5,852
Other Income	52%	39	26	13	13	52	62
Total Income	3.5%	6,462	6,245	6,412	5,513	5,477	5,914
Cost of Materials	0.7%	2,011	1,998	1,841	1,593	1,224	1,402
Purchases of stock-in-trade	-100.1%	0	1,874	1,807	2,001	1,962	2,150
Employee Expense	9.7%	556	507	463	433	384	422
Finance costs	-39.7%	39	64	73	65	50	41
Depreciation and Amortization	-3.8%	102	106	104	101	101	99
Other expenses	125.2%	3,341	1,484	1,550	1,359	1,291	1,645
Total Expenses	1.6%	5,984	5,891	6,122	5,354	5,122	5,698
Profit Before exceptional items and Tax	34.8%	477	354	290	158	356	216
Total profit before tax	34.8%	477	354	290	158	356	216
Current tax	26.7%	129	102	85	51	98	71
Deferred tax	-114%	-7.43	-2.94	-0.6	-7.49	4.64	-4.84
Total tax	23.5%	122	99	84	43	103	66
Total profit (loss) for period	3.5%	264	255	206	115	253	151
Other comp. income net of taxes	-50%	-3.83	-2.22	1.56	-2.02	3.85	17
Total Comprehensive Income	2.8%	260	253	207	113	257	168
Earnings Per Share, Basic	2.3%	33.89	33.14	26.723	14.8	33.71	19.91
Earnings Per Share, Diluted	2.3%	33.89	33.14	26.723	14.8	33.71	19.91
Debt equity ratio	-0.2%	0.0182	0.0199	0.0196	0.0207	0.0208	0.0212
Debt service coverage ratio	0.1%	073	067	039	027	058	038
Interest service coverage ratio	8.6%	0.1515	0.0716	0.0534	0.0378	0.0936	0.0698

Description	(%) Q/Q	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	-23.1%	1,341	1,744	1,497	1,644	1,540	1,868
Other Income	942.9%	18	2.63	4.33	24	8.87	4.01
Total Income	-22.2%	1,359	1,747	1,501	1,667	1,549	1,872
Cost of Materials	-56.8%	298	688	573	437	317	699
Purchases of stock-in-trade	-	0	0	360	486	449	668
Employee Expense	1.4%	143	141	142	141	130	130
Finance costs	25%	16	13	20	8.46	11	11
Depreciation and Amortization	127.3%	26	12	51	27	26	28
Other expenses	-27.2%	699	960	386	363	381	381
Total Expenses	-21.9%	1,263	1,617	1,449	1,540	1,452	1,770
Profit Before exceptional items and Tax	-26.4%	96	130	52	127	97	102
Total profit before tax	-26.4%	96	130	52	127	97	102
Current tax	-8.8%	32	35	32	33	30	29
Deferred tax	75.8%	0.05	-2.93	-3	-0.68	-0.64	1.36
Total tax	0%	32	32	29	32	29	30
Total profit (loss) for period	-24.7%	59	78	23	96	67	72
Other comp. income net of taxes	-169%	-6.8	-1.9	0.24	-2.7	0.53	-2.47
Total Comprehensive Income	-32%	52	76	23	93	68	70
Earnings Per Share, Basic	-29.5%	7.11	9.67	2.73	12.59	8.9	9.7
Earnings Per Share, Diluted	-29.5%	7.11	9.67	2.73	12.59	8.9	9.7
Debt equity ratio	-0.1%	0.0169	0.0182	0.0173	0.02	0.0187	0.0199
Debt service coverage ratio	-0.2%	053	073	072	0.01	07	072
Interest service coverage ratio	-5.7%	0.0716	0.1213	0.0404	0.18	0.1022	0.1271

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	3.2%	5,018	4,861	4,652	4,444	4,310	4,894
Other Income	36.4%	61	45	35	26	36	19
Total Income	3.5%	5,079	4,906	4,687	4,470	4,345	4,912
Cost of Materials	5%	1,063	1,012	925	757	513	632
Purchases of stock-in-trade	-100.1%	0	1,899	1,810	2,009	1,936	2,115
Employee Expense	13.4%	432	381	343	319	279	313
Finance costs	-62.5%	16	41	37	23	23	16
Depreciation and Amortization	0%	67	67	63	65	68	74
Other expenses	141.6%	3,139	1,300	1,303	1,199	1,150	1,512
Total Expenses	1.9%	4,691	4,602	4,453	4,323	4,061	4,705
Profit Before exceptional items and Tax	27.7%	388	304	234	147	285	207
Total profit before tax	27.7%	388	304	234	147	285	207
Current tax	40.3%	109	78	64	44	71	57
Deferred tax	-122.6%	-14.29	-5.87	-7.38	-9.96	-5.02	-2.67
Total tax	32.4%	95	72	56	34	66	54
Total profit (loss) for period	26.8%	294	232	178	113	218	153
Other comp. income net of taxes	-74.4%	-2.07	-0.76	-0.74	3.18	0.55	0.27
Total Comprehensive Income	26.5%	292	231	177	116	219	153
Earnings Per Share, Basic	27.7%	39.95	31.513	24.2	15.343	29.68	20.82
Earnings Per Share, Diluted	27.7%	39.95	31.513	24.2	15.343	29.68	20.82
Debt equity ratio	-0.3%	0.0147	0.0172	0.0176	0.0176	0.0186	0.0188
Debt service coverage ratio	-14.3%	0.0181	0.1407	075	054	0.0216	0.0121
Interest service coverage ratio	24.8%	0.3182	0.0928	0.0546	0.0837	0.1696	0.2225

Description	(%) Q/Q	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	-31.9%	984	1,444	1,119	1,240	1,215	1,550
Other Income	580.3%	61	9.82	8.56	15	28	6.25
Total Income	-28.1%	1,045	1,454	1,128	1,255	1,243	1,556
Cost of Materials	-28.1%	211	293	234	289	247	311
Purchases of stock-in-trade	-	347	0	368	475	451	638
Employee Expense	1.9%	111	109	106	108	101	98
Finance costs	29.2%	7.51	6.04	3.41	3.38	3.36	6.21
Depreciation and Amortization	-5.9%	17	18	17	17	16	18
Other expenses	-66.5%	299	890	321	318	324	337
Total Expenses	-31.6%	933	1,364	1,049	1,145	1,132	1,460
Profit Before exceptional items and Tax	26.1%	112	89	78	109	111	96
Total profit before tax	26.1%	112	89	78	109	111	96
Current tax	-3.6%	28	29	26	30	24	28
Deferred tax	-7.4%	-2.92	-2.65	-6.17	-4.47	-1	-2.37
Total tax	-4%	25	26	20	26	23	26
Total profit (loss) for period	38.7%	87	63	59	83	88	71
Other comp. income net of taxes	41.2%	0.03	-0.65	0.11	-1.56	0.03	-3.69
Total Comprehensive Income	38.7%	87	63	59	82	89	67
Earnings Per Share, Basic	42%	11.78	8.59	7.98	11.34	12.04	9.62
Earnings Per Share, Diluted	42%	11.78	8.59	7.98	11.34	12.04	9.62
Debt equity ratio	0%	0.0148	0.0147	0.0135	0.01	0.0158	0.0172
Debt service coverage ratio	-0.7%	0.0101	0.0173	0.1263	0.1	0.125	0.1644
Interest service coverage ratio	-4%	0.1749	0.2066	0.3315	0.41	0.394	0.2173

Balance Sheet for ISGEC Heavy Engineering

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	-26%	92	124	143	192	168	162
Current investments	-12.6%	84	96	12	136	17	18
Loans, current	-29.8%	9.42	13	11	12	8.55	8.56
Total current financial assets	7.5%	3,099	2,883	3,176	2,973	3,107	2,418
Inventories	15.1%	1,477	1,283	1,410	1,211	1,164	1,309
Current tax assets	-94.9%	1.91	19	15	15	13	9.95
Total current assets	8%	5,871	5,437	5,735	5,397	5,162	4,784
Property, plant and equipment	2.8%	921	896	896	865	891	893
Capital work-in-progress	-93.9%	66	1,062	959	880	792	684
Goodwill	-10%	10	11	10	18	17	23
Loans, non-current	28.1%	5.6	4.59	4.62	4.29	3.71	3.14
Total non-current financial assets	-50.9%	29	58	95	98	97	144
Total non-current assets	-48%	1,120	2,152	2,100	1,983	1,913	1,848
Total assets	6%	8,041	7,589	7,835	7,381	7,075	6,631
Borrowings, non-current	-45.9%	221	408	406	479	433	475
Total non-current financial liabilities	-52.5%	235	494	491	573	524	556
Provisions, non-current	-3.6%	54	56	54	61	79	52
Total non-current liabilities	-23.3%	522	680	723	871	774	706
Borrowings, current	118.7%	622	285	381	454	768	703
Total current financial liabilities	21.5%	2,032	1,673	1,950	2,006	2,387	2,017
Provisions, current	-5%	190	200	176	144	109	131
Current tax liabilities	-14.8%	24	28	8.36	7.32	11	2.98
Total current liabilities	4.5%	4,349	4,163	4,494	4,024	3,909	3,694
Total liabilities	7.3%	5,193	4,842	5,217	4,895	4,683	4,400
Equity share capital	0%	7.35	7.35	7.35	7.35	7.35	7.35
Non controlling interest	12.4%	110	98	96	91	88	78
Total equity	3.7%	2,849	2,747	2,619	2,486	2,392	2,231
Total equity and liabilities	6%	8,041	7,589	7,835	7,381	7,075	6,631

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	-16.2%	68	81	63	121	122	77
Current investments	-12.8%	83	95	11	78	17	18
Loans, current	-28.9%	8.82	12	11	11	8.14	8.15
Total current financial assets	5.9%	3,211	3,032	3,240	2,951	2,968	2,467
Inventories	-11.5%	796	899	778	830	641	576
Current tax assets	-	0	0	0	0	0	-
Total current assets	-0.3%	4,625	4,639	4,911	4,873	4,469	4,015
Property, plant and equipment	7.6%	470	437	427	440	453	448
Capital work-in-progress	5.9%	55	52	33	13	4.1	8.23
Non-current investments	1.3%	160	158	156	163	163	169
Loans, non-current	94.1%	556	287	177	121	113	98
Total non-current financial assets	48.9%	738	496	419	374	365	405
Total non-current assets	26.8%	1,344	1,060	955	895	885	918
Total assets	4.7%	5,969	5,699	5,865	5,767	5,354	4,933
Borrowings, non-current	1200%	209	17	7.21	0	0	50
Total non-current financial liabilities	658.6%	221	30	19	14	13	62
Provisions, non-current	-18.2%	46	56	53	61	76	50
Total non-current liabilities	125.5%	416	185	212	288	238	189
Borrowings, current	54.5%	52	34	22	246	447	397
Total current financial liabilities	1.3%	1,305	1,288	1,372	1,686	1,842	1,601
Provisions, current	-5.9%	178	189	166	135	100	124
Current tax liabilities	60.9%	38	24	6.56	0.29	7.35	2.54
Total current liabilities	-2.6%	3,136	3,219	3,499	3,436	3,170	2,899
Total liabilities	4.3%	3,552	3,404	3,711	3,724	3,408	3,088
Equity share capital	0%	7.35	7.35	7.35	7.35	7.35	7.35
Total equity	5.3%	2,417	2,296	2,155	2,043	1,946	1,845
Total equity and liabilities	4.7%	5,969	5,699	5,865	5,767	5,354	4,933

Cash Flow for ISGEC Heavy Engineering

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	1.6%	65	64	73	65	-	-
Change in inventories	66.7%	-81.42	-246.49	239	-250.76	-	-
Depreciation	8.6%	115	106	104	101	-	-
Impairment loss / reversal	-	0.07	0	0.19	0.13	-	-
Unrealised forex losses/gains	26.9%	-6.17	-8.81	-27.14	-3.51	-	-
Adjustments for interest income	8.1%	6.63	6.21	5.28	5.16	-	-
Net Cashflows from Operations	-75.4%	208	842	272	3.67	-	-
Income taxes paid (refund)	-6.6%	100	107	71	74	-	-
Net Cashflows From Operating Activities	-85.3%	109	735	200	-70.3	-	-
Proceeds from sales of PPE	120.6%	5.92	3.23	1.52	1.36	-	-
Purchase of property, plant and equipment	0.4%	240	239	142	56	-	-
Purchase of intangible assets	-98.5%	1.07	5.81	3.69	9.43	-	-
Purchase of intangible assets under development	-	0	0	13	0	-	-
Purchase of other long-term assets	73.1%	0	-2.72	1.82	9.38	-	-
Interest received	-2.3%	7	7.14	5.02	5.58	-	-
Other inflows (outflows) of cash	87.9%	0.06	-6.77	-0.8	0.86	-	-
Net Cashflows From Investing Activities	-27.5%	-296.54	-232.37	-51.25	-141.43	-	-
Proceeds from issuing shares	-	2.45	0	0	0	-	-
Proceeds from borrowings	91.7%	233	122	84	131	-	-
Repayments of borrowings	-103.5%	-16.37	498	103	-137.42	-	-
Payments of lease liabilities	-	7.13	0	0	0	-	-
Dividends paid	29.2%	32	25	17	10	-	-
Interest paid	33.8%	104	78	55	76	-	-
Net Cashflows from Financing Activities	121.9%	108	-486.82	-97.77	176	-	-
Effect of exchange rate on cash eq.	168.2%	30	-41.51	15	-17.29	-	-
Net change in cash and cash eq.	-90.4%	-49.5	-25.53	67	-53.27	-	-

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	-62.5%	16	41	37	23	-	-
Change in inventories	86.2%	-17.96	-136.52	-89.56	-75.88	-	-
Depreciation	0%	67	67	63	65	-	-
Unrealised forex losses/gains	45.6%	-4.02	-8.22	-33.86	-5.12	-	-
Dividend income	13%	27	24	17	14	-	-
Adjustments for interest income	100%	23	12	10	7.67	-	-
Net Cashflows from Operations	-25%	446	594	91	-75.58	-	-
Income taxes paid (refund)	-2.6%	77	79	49	59	-	-
Net Cashflows From Operating Activities	-28.4%	369	515	42	-134.3	-	-
Proceeds from sales of PPE	-18.2%	1.18	1.22	1.09	1.07	-	-
Purchase of property, plant and equipment	106.8%	123	60	42	48	-	-
Purchase of intangible assets	-93.8%	1.99	17	2.58	7.65	-	-
Purchase of intangible assets under development	90.7%	-0.2	-11.93	13	0	-	-
Dividends received	13%	27	24	17	14	-	-
Interest received	-85.9%	1.54	4.82	3.59	7.67	-	-
Other inflows (outflows) of cash	-	0	0	0	-74.18	-	-
Net Cashflows From Investing Activities	-514.7%	-545.35	-87.88	57	-107.56	-	-
Proceeds from borrowings	172.2%	231	-317.54	113	306	-	-
Repayments of borrowings	-101%	0	100	100	71	-	-
Payments of lease liabilities	-5.9%	6.38	6.72	5.47	4.28	-	-
Dividends paid	33.3%	29	22	15	7.54	-	-
Interest paid	-65.8%	14	39	36	22	-	-
Net Cashflows from Financing Activities	137%	181	-485.97	-43.64	201	-	-
Net change in cash and cash eq.	105.9%	4.54	-59.16	56	-40.7	-	-

What does ISGEC Heavy Engineering Limited do?

Civil Construction•Construction•Small Cap

Isgec Heavy Engineering Limited provides engineering solutions worldwide. It operates through two segments: Manufacturing of Machinery & Equipment; and Engineering, Procurement & Construction. 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, such as air pollution control equipment, bag filters, SCR/SNCR, flue gas desulphurization systems, and deaerators; and field services comprising site construction and commissioning, operation and maintenance, supervision, retrofitting and modernization, residual life assessment studies, spares, and technical assistance. It 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 comprising mechanical and hydraulic straight sided presses, mechanical gap and ring frame presses, 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 offers iron castings, air pollution control equipment, and liquefied gas containers, as well as provides 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, chemicals industries, etc. 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 headquartered in Noida, India.

Industry Group:Construction

Employees:2,979

Website:www.isgec.com

ISGEC - ISGEC Heavy Engineering Limited Share Price

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What does ISGEC Heavy Engineering Limited do?