Construction
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Balance Sheet: Reasonably good balance sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money has been increasing their position in the stock.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 24.5% return compared to 13.3% by NIFTY 50.
No major cons observed.
Valuation | |
|---|---|
| Market Cap | 6.58 kCr |
| Price/Earnings (Trailing) | 27.74 |
| Price/Sales (Trailing) | 1 |
| EV/EBITDA | 11.04 |
| Price/Free Cashflow | -50.37 |
| MarketCap/EBT | 12.85 |
| Enterprise Value | 7.39 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 6.59 kCr |
| Rev. Growth (Yr) | 17% |
| Earnings (TTM) | 277.31 Cr |
| Earnings Growth (Yr) | 265.5% |
Profitability | |
|---|---|
| Operating Margin | 8% |
| EBT Margin | 8% |
| Return on Equity | 9.52% |
| Return on Assets | 3.5% |
| Free Cashflow Yield | -1.99% |
Growth & Returns | |
|---|---|
| Price Change 1W | 0.70% |
| Price Change 1M | 11.1% |
| Price Change 6M | -11.1% |
| Price Change 1Y | -10.4% |
| 3Y Cumulative Return | 24.5% |
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 | 98.44 Cr |
| Free Cash Flow (TTM) | -131.27 Cr |
| Free Cash Flow/Share (TTM) | -17.85 |
Balance Sheet | |
|---|---|
| Total Assets | 7.92 kCr |
| Total Liabilities | 5.01 kCr |
| Shareholder Equity | 2.91 kCr |
| Current Assets | 5.68 kCr |
| Current Liabilities | 4.24 kCr |
| Net PPE | 907.75 Cr |
| Inventory | 1.35 kCr |
| Goodwill | 11.14 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.11 |
| Debt/Equity | 0.31 |
| Interest Coverage | 6.79 |
| Interest/Cashflow Ops | 2.88 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 5 |
| Dividend Yield | 0.56% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Balance Sheet: Reasonably good balance sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money has been increasing their position in the stock.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 24.5% return compared to 13.3% by NIFTY 50.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 0.56% |
| Dividend/Share (TTM) | 5 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 32.25 |
Financial Health | |
|---|---|
| Current Ratio | 1.34 |
| Debt/Equity | 0.31 |
Technical Indicators | |
|---|---|
| RSI (14d) | 51.72 |
| RSI (5d) | 44.94 |
| RSI (21d) | 63.68 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
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.
Management's outlook for ISGEC Heavy Engineering Limited indicates a positive trajectory for both revenue and profitability in the upcoming periods. The management reported a standalone total income of INR 1,365 crores for Q3 FY '26, marking a 21% increase from INR 1,128 crores in Q3 FY '25, and a consolidated profit before tax of INR 150 crores, up 72% from INR 87 crores in the same quarter last year.
Key forward-looking points highlighted include:
Order Book Growth: Standalone orders booked in the December 2025 quarter were INR 1,426 crores, up from INR 1,290 crores in the previous year's quarter. The company holds a comfortable order book of INR 7,649 crores as of December 31, 2025, which includes export orders valued at INR 1,629 crores (21% of total orders).
Capacity Expansion: Two major expansion projects have received board approval. The expansion of the Machine Building division is projected to increase annual revenue by INR 600 crores (INR 225 crores from one expansion by July 2026 and INR 375 crores from another by July 2027).
Market Demand: There is an encouraging demand trend with a robust inquiry position, particularly in exports. The management anticipates that capital investments will further enhance the company's capabilities and market share.
Future Guidance: While the company maintains current revenue growth guidance of 7%-8% for this financial year, it has not revised these figures despite a strong performance in the first nine months, with the expectation of doing better than the current year in the next.
Commodity Pricing Risk Management: The management acknowledged rising commodity prices but stated that they are not adversely affected currently, with fixed-price contracts in place for the order book.
Overall, the management expresses an optimistic view regarding sustained growth, enhanced production efficiency, and market competitiveness through strategic investments and capacity expansions.
Q1: Regarding the strong margins in the Industrial Machinery and Manufacturing division, was there any one-off event? Can this be sustained?
Aditya Puri: The margins do fluctuate; 15.5% to 15% isn't a fixed standard. We aim to maintain double-digit margins consistently, but specific figures may vary quarter-to-quarter based on operational efficiencies and market conditions.
Q2: What is the peak revenue potential after completing the three capex projects?
Kishore Chatnani: We estimate peak revenue potential at approximately INR 3,600 to INR 3,700 crores once all investments are fully operational, which will be rolled out over the next years, with timelines extending to July 2027 and March 2028.
Q3: How is the current demand outlook across sectors, and are we seeing more positivity in client sectors?
Aditya Puri: We're optimistic about market demand. Our acceptability and market share are growing, leading us to capture more opportunities across various industries, including automotive and defense sectors.
Q4: What led to the significant improvement in margins for machinery equipment, especially for your subsidiary, Hitachi Zosen?
Aditya Puri: Margin improvements stem from enhanced efficiency and capacity utilization. While we hope for double-digit margins, quarter-to-quarter variations can occur due to changes in job specifics, cost adjustments, and operational efficiencies.
Q5: What does the order book look like for Hitachi Zosen currently?
Kishore Chatnani: As of December 31, 2025, Hitachi Zosen's order book stands at INR 946 crores, with order inflow during the past nine months totaling INR 601 crores.
Q6: With commodity prices rising, how do we mitigate pricing risks in our current order book?
Aditya Puri: Current projects aren't seeing adverse cost impacts yet, but significant increases could pose issues. We closely monitor costs and often include provisions for changes in commodity prices.
Q7: Can we anticipate higher order bookings from the private sector now that tariff clarity exists?
Kishore Chatnani: Yes, with tariff visibility, we expect improved order bookings from the private sector, particularly in automotive components, improving overall demand trends.
Q8: What guidance can you share regarding order inflow for the upcoming year?
Kishore Chatnani: While we won't specify numbers, we expect to perform better than this year based on current market trends and active order bookings.
Q9: Any updates on the sale of Cavite Biofuel?
Kishore Chatnani: The sale could not proceed due to the buyer's failure to finance. We are still actively seeking buyers and continue operations at the plant, which has reached 75% capacity utilization.
Q10: Do you have any guidance for revenue growth in FY '27?
Kishore Chatnani: On a standalone basis, we expect to grow revenue 8% to 9%. We'll maintain a cautious but upward trajectory based on order book strength and market conditions.
Analysis of ISGEC Heavy Engineering's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Industrial Projects | 50.0% | 932.8 Cr |
| Manufacturing of Machinery & Equipment | 38.6% | 720.5 Cr |
| Sugar | 9.5% | 177.6 Cr |
| Ethanol | 1.8% | 33.7 Cr |
| Total | 1.9 kCr |
Understand ISGEC Heavy Engineering ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| THE YAMUNA SYNDICATE LTD | 45% |
| RANJIT PURI | 8.97% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | 6.45% |
| ADITYA PURI | 6.21% |
| N. A. COLD STORAGES PVT. LTD. | 2.04% |
| SHRI PARASRAM HOLDINGS PRIVATE LIMITED | 1.21% |
| NINA PURI | 0.22% |
| TANU PRIYA PURI | 0% |
| TANVI PURI | 0% |
| NAYNA PURI | 0% |
| ASHOK BHAN | 0% |
| AKSHAY BHAN | 0% |
| MADHU JAIN | 0% |
| RANJIT PURI HUF | 0% |
| MITCHELL PETER YOUNG | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
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 | 5.43 LCr | 2.83 LCr | -3.40% | +21.20% | 33.42 | 1.92 | - | - |
| BHEL | Bharat Heavy Electricals | 90.17 kCr | 31.18 kCr | -5.00% | +30.50% | 110.66 | 2.89 | - | - |
| THERMAX | Thermax | 37.68 kCr | 10.63 kCr | +7.20% | -4.20% | 52.23 | 3.54 | - | - |
| KIRLOSBROS | Kirloskar Brothers | 13.07 kCr | 4.48 kCr | +4.90% | +0.30% | 32.74 | 2.92 | - | - |
| TRIVENI | Triveni Engineering & Industries | 8.55 kCr | 7.79 kCr | +3.60% | +6.70% | 28.74 | 1.1 | - | - |
Comprehensive comparison against sector averages
ISGEC metrics compared to Construction
| Category | ISGEC | Construction |
|---|---|---|
| PE | 27.74 | 24.22 |
| PS | 1.00 | 1.58 |
| Growth | 0 % | 6.7 % |
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.
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ISGEC vs Construction (2022 - 2026)