ISGEC Heavy Engineering Ltd. (IN:ISGEC)
:ISGEC
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ISGEC Heavy Engineering Ltd.
(ISGEC)
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Rating:54Neutral
Price Target:
₹948.00
▲(9.48% Upside)
Action:Reiterated
Date:05/30/26
The score reflects stable-to-improving financial health driven by lower leverage and a strong 2026 cash-flow rebound, but it is held back by a sharp 2026 profitability/ROE decline and very weak technical momentum (price below key moving averages with negative MACD). Valuation appears only middling given the elevated P/E and low dividend yield.
Positive Factors
Improving leverage and growing assets
Leverage has declined meaningfully (debt/equity ~0.35), while equity and assets have grown, reducing financial risk and increasing capacity to fund larger or simultaneous project contracts. A stronger balance sheet supports bidding competitiveness and long-term project execution resilience.
Negative Factors
Sharp profitability decline and weak returns
Margins and ROE have dropped sharply, signaling pressured pricing, cost structure or project execution. Low net margins reduce the buffer against project overruns and commodity swings, while weak ROE indicates inefficient capital use, limiting capacity to generate sustainable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage and growing assets
Leverage has declined meaningfully (debt/equity ~0.35), while equity and assets have grown, reducing financial risk and increasing capacity to fund larger or simultaneous project contracts. A stronger balance sheet supports bidding competitiveness and long-term project execution resilience.
Read all positive factors
ISGEC Heavy Engineering Ltd. (ISGEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹75.94B
Dividend Yield0.59%
Average Volume (3M)3.77K
Price to Earnings (P/E)28.6
Beta (1Y)1.44
Revenue Growth6.14%
EPS Growth-4.01%
CountryIN
Employees2,979
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)N/A
Shares Outstanding73,529,510
10 Day Avg. Volume7,100
30 Day Avg. Volume3,765
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 operates as a heavy engineering company in India and internationally. It operates in two segments, Manufacturing of Machinery and Equipment; and Engineering, Procurement and Construction. The company offers process ...
How the Company Makes Money
ISGEC primarily makes money by executing engineering and manufacturing orders for industrial equipment and projects. Key revenue streams typically include: (1) Equipment manufacturing and supply: revenue from fabricating and delivering engineered ...
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 | 62.73B | 67.89B | 64.22B | 61.67B | 63.49B | 54.99B |
| Gross Profit | 19.57B | 14.55B | 13.59B | 8.04B | 8.34B | 14.81B |
| EBITDA | 5.97B | 5.55B | 6.19B | 5.20B | 4.63B | 3.25B |
| Net Income | 1.87B | 1.09B | 2.49B | 2.44B | 1.96B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 79.23B | 80.77B | 80.41B | 78.35B | 70.75B | 67.60B |
| Cash, Cash Equivalents and Short-Term Investments | 2.75B | 4.42B | 2.30B | 1.76B | 1.99B | 2.30B |
| Total Debt | 9.25B | 9.51B | 8.61B | 8.14B | 12.35B | 12.33B |
| Total Liabilities | 50.10B | 51.89B | 51.93B | 52.17B | 46.83B | 45.58B |
| Stockholders Equity | 27.88B | 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. Technical Analysis
Negative
865.90
Price Trends
1004.34
Negative
920.91
Positive
917.28
Positive
Market Momentum
-1.16
Positive
27.90
Positive
12.69
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ISGEC, the sentiment is Negative. The current price of 865.9 is below the 20-day moving average (MA) of 1061.83, below the 50-day MA of 1004.34, and below the 200-day MA of 917.28, indicating a neutral trend. The MACD of -1.16 indicates Positive momentum. The RSI at 27.90 is Positive, neither overbought nor oversold. The STOCH value of 12.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ISGEC.
ISGEC Heavy Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹228.53B | 67.31 | ― | 0.75% | 8.74% | -2.07% | |
69 Neutral | ₹131.25B | 34.72 | ― | 0.43% | 1.02% | -10.02% | |
64 Neutral | ₹1.47T | 90.59 | ― | 0.18% | 19.21% | 199.99% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ₹546.77B | 77.92 | ― | 0.48% | 2.87% | 13.55% | |
57 Neutral | ₹1.38T | 87.96 | ― | 0.38% | -25.52% | -32.46% | |
54 Neutral | ₹75.94B | 28.58 | ― | 0.59% | 6.14% | -4.01% |
* Industrials Sector Average
IN:ISGEC
ISGEC Heavy Engineering Ltd.
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ISGEC Heavy Engineering Ltd. Corporate Events
Isgec pares stake in boiler joint venture, reclassifies unit as associate
May 8, 2026
Isgec Heavy Engineering Ltd. has agreed to sell 500,000 equity shares in its joint venture Isgec SFW Boilers Private Limited to partner Sumitomo SHI FW Energia OY for Rs. 4 crore, reducing its stake from 51% to 26%. As a result, the joint venture ...
Isgec Opens Special Window for Physical Share Transfers, Relaunches ‘Saksham Niveshak’ Campaign
Apr 11, 2026
Isgec Heavy Engineering Ltd. has announced the publication of a newspaper advertisement about opening a special window for re‑lodgement of transfer requests for physical shares. The initiative is accompanied by the re‑launch of its 100...
Isgec Subsidiary Faces Rs 18.8 Crore Tax Demand, Plans Appeal
Mar 27, 2026
Isgec Heavy Engineering Ltd. has disclosed that its material wholly owned subsidiary, Saraswati Sugar Mills Limited, has received an income tax assessment order under Section 143(3) read with Section 144B of the Income Tax Act for assessment year ...
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.