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ISGEC Heavy Engineering Ltd.
(ISGEC)
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Rating:54Neutral
Price Target:
₹803.00
▼(-6.12% Downside)
Action:Reiterated
Date:08/30/26
The score is driven primarily by mid-range financial performance: balance-sheet leverage has improved and 2026 cash flow is strong, but profitability and ROE deteriorated meaningfully, raising sustainability/volatility risk. Technicals are a key drag with price below major moving averages and negative MACD. Valuation is also a headwind due to a relatively high P/E and low dividend yield.
Positive Factors
Revenue Growth
Revenue growth indicates continued demand for ISGEC’s engineered equipment and project capabilities. Although the trajectory is uneven, expansion into 2026 supports business scale, provides a base for future operating leverage, and reinforces the company’s position across industrial and infrastructure markets.
Negative Factors
Margin Compression
The sharp decline in net margin shows that revenue growth is not currently translating proportionately into earnings. Persistent pressure on costs, pricing, or project mix could limit operating leverage, reduce the durability of profits, and leave results more sensitive to execution and contract economics.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Revenue growth indicates continued demand for ISGEC’s engineered equipment and project capabilities. Although the trajectory is uneven, expansion into 2026 supports business scale, provides a base for future operating leverage, and reinforces the company’s position across industrial and infrastructure markets.
Read all positive factors
ISGEC Heavy Engineering Ltd. (ISGEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹57.86B
Dividend Yield0.64%
Average Volume (3M)4.68K
Price to Earnings (P/E)29.5
Beta (1Y)1.28
Revenue Growth19.79%
EPS Growth-16.99%
CountryIN
Employees3,443
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)26.65
Shares Outstanding73,529,510
10 Day Avg. Volume2,697
30 Day Avg. Volume4,684
Financial Highlights & Ratios
PEG Ratio-1.03
Price to Book (P/B)2.32
Price to Sales (P/S)0.93
P/FCF Ratio10.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ISGEC Heavy Engineering Ltd. Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
ISGEC primarily makes money by selling engineered-to-order industrial equipment and by executing projects for industrial customers, with revenue generally recognized against contracts as equipment is delivered and/or project milestones are achieve...
ISGEC Heavy Engineering Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 74.58B | 67.89B | 64.22B | 61.67B | 63.49B | 54.99B |
| Gross Profit | 21.37B | 14.55B | 13.59B | 8.04B | 8.34B | 14.81B |
| EBITDA | 7.19B | 6.71B | 6.19B | 5.20B | 4.63B | 3.25B |
| Net Income | 1.96B | 1.09B | 2.49B | 2.44B | 1.96B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 80.77B | 80.41B | 78.35B | 70.75B | 67.60B |
| Cash, Cash Equivalents and Short-Term Investments | 4.42B | 4.42B | 2.30B | 1.76B | 1.99B | 2.30B |
| Total Debt | 0.00 | 9.51B | 8.61B | 8.14B | 12.35B | 12.33B |
| Total Liabilities | -28.88B | 51.89B | 51.93B | 52.17B | 46.83B | 45.58B |
| Stockholders Equity | 28.88B | 27.37B | 27.39B | 25.15B | 23.04B | 21.21B |
Cash Flow | ||||||
| Free Cash Flow | 3.77B | 5.97B | -2.21B | 4.90B | 498.49M | -1.36B |
| Operating Cash Flow | 4.50B | 7.65B | 193.30M | 7.35B | 2.08B | -702.99M |
| Investing Cash Flow | -815.90M | -1.31B | -3.09B | -2.32B | -584.42M | -1.41B |
| Financing Cash Flow | -3.29B | -3.41B | 2.10B | -4.87B | -977.64M | 1.76B |
ISGEC Heavy Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹1.42T | 43.23 | ― | 0.46% | -12.45% | 12.44% | |
71 Outperform | ₹147.74B | 39.71 | ― | 0.38% | 5.04% | -10.39% | |
68 Neutral | ₹1.51T | 61.67 | ― | 0.45% | 27.00% | 739.32% | |
62 Neutral | ₹183.59B | 54.58 | ― | 0.75% | 17.70% | -1.58% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹57.86B | 29.49 | ― | 0.64% | 19.79% | -16.99% | |
54 Neutral | ₹433.06B | 69.31 | ― | 0.55% | 4.68% | -11.57% |
* General Sector Average
IN:ISGEC
ISGEC Heavy Engineering Ltd.
782.00
-212.55
-21.37%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.