ISGEC Heavy Engineering Ltd
ISGEC Heavy Engineering Ltd is a diversified heavy engineering company engaged in manufacturing and project business with an extensive global presence. It manufactures process plant equipment, presses, Iron & Steel castings & Boiler pressure parts.
It also undertakes turnkey projects for setting-up boilers, power plants, sugar plants, distilleries, factories and others. It also has strengths in the business of construction.[1]
It is also engaged in the business of manufacture of sugar and its by-products through a subsidiary.[2]
- Market Cap ₹ 11,511 Cr.
- Current Price ₹ 1,564
- High / Low ₹ 1,677 / 810
- Stock P/E 39.5
- Book Value ₹ 360
- Dividend Yield 0.26 %
- ROCE 12.3 %
- ROE 9.98 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 4.34 times its book value
- The company has delivered a poor sales growth of 4.26% over past five years.
- Company has a low return on equity of 8.13% over last 3 years.
- Dividend payout has been low at 12.3% of profits over last 3 years
- Company has high debtors of 172 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services
Part of BSE SmallCap Nifty Microcap 250 Nifty Total Market BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Sep 2013 | Mar 2014 6m | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,933 | 1,679 | 3,952 | 4,507 | 3,916 | 3,790 | 5,050 | 5,882 | 5,426 | 5,499 | 6,399 | 6,219 | 6,544 | |
2,748 | 1,595 | 3,679 | 4,157 | 3,510 | 3,481 | 4,761 | 5,537 | 4,956 | 5,165 | 5,926 | 5,700 | 6,019 | |
Operating Profit | 186 | 84 | 273 | 349 | 407 | 309 | 289 | 345 | 469 | 335 | 473 | 520 | 525 |
OPM % | 6% | 5% | 7% | 8% | 10% | 8% | 6% | 6% | 9% | 6% | 7% | 8% | 8% |
42 | 30 | 47 | 76 | 93 | 56 | 65 | 31 | 52 | 13 | 12 | 25 | 42 | |
Interest | 41 | 23 | 51 | 66 | 58 | 34 | 45 | 61 | 64 | 88 | 91 | 84 | 44 |
Depreciation | 64 | 34 | 83 | 76 | 75 | 81 | 82 | 101 | 101 | 101 | 104 | 106 | 108 |
Profit before tax | 123 | 58 | 188 | 284 | 367 | 251 | 227 | 214 | 356 | 158 | 290 | 354 | 415 |
Tax % | 38% | 33% | 34% | 33% | 32% | 33% | 37% | 30% | 29% | 27% | 29% | 28% | |
76 | 39 | 123 | 190 | 248 | 168 | 144 | 149 | 253 | 115 | 206 | 255 | 302 | |
EPS in Rs | 11.10 | 5.74 | 16.03 | 25.13 | 32.94 | 21.40 | 19.42 | 19.65 | 33.71 | 14.80 | 26.72 | 33.14 | 39.61 |
Dividend Payout % | 9% | 12% | 12% | 8% | 9% | 7% | 33% | 10% | 9% | 14% | 11% | 12% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 4% |
3 Years: | 5% |
TTM: | 1% |
Compounded Profit Growth | |
---|---|
10 Years: | 22% |
5 Years: | 12% |
3 Years: | -1% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 35% |
3 Years: | 41% |
1 Year: | 68% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 9% |
3 Years: | 8% |
Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Sep 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
Reserves | 709 | 744 | 837 | 1,021 | 1,246 | 1,374 | 1,508 | 1,777 | 2,014 | 2,114 | 2,297 | 2,515 | 2,642 |
364 | 537 | 524 | 661 | 356 | 174 | 304 | 991 | 983 | 1,233 | 1,235 | 814 | 721 | |
1,614 | 1,803 | 2,110 | 2,434 | 2,504 | 2,271 | 3,303 | 3,166 | 3,441 | 3,387 | 3,513 | 4,470 | 4,219 | |
Total Liabilities | 2,694 | 3,091 | 3,479 | 4,124 | 4,114 | 3,826 | 5,121 | 5,941 | 6,445 | 6,741 | 7,053 | 7,807 | 7,589 |
544 | 532 | 554 | 615 | 623 | 629 | 749 | 833 | 803 | 977 | 947 | 956 | 953 | |
CWIP | 18 | 41 | 14 | 10 | 19 | 32 | 19 | 706 | 893 | 702 | 805 | 959 | 1,062 |
Investments | 241 | 143 | 348 | 554 | 697 | 371 | 155 | 98 | 60 | 135 | 33 | 29 | 114 |
1,891 | 2,375 | 2,562 | 2,944 | 2,775 | 2,794 | 4,199 | 4,303 | 4,689 | 4,928 | 5,267 | 5,863 | 5,460 | |
Total Assets | 2,694 | 3,091 | 3,479 | 4,124 | 4,114 | 3,826 | 5,121 | 5,941 | 6,445 | 6,741 | 7,053 | 7,807 | 7,589 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Sep 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
342 | -193 | 261 | 123 | 236 | 101 | -238 | 104 | 228 | -70 | 208 | 735 | |
-128 | 66 | -239 | -261 | -141 | 276 | 73 | -328 | -164 | -159 | -43 | -274 | |
25 | 150 | -66 | 66 | -370 | -233 | 93 | 295 | -89 | 176 | -98 | -487 | |
Net Cash Flow | 238 | 23 | -44 | -72 | -275 | 144 | -71 | 71 | -25 | -53 | 67 | -26 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Sep 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 95 | 173 | 96 | 116 | 106 | 109 | 137 | 111 | 144 | 143 | 161 | 172 |
Inventory Days | 102 | 311 | 125 | 115 | 183 | 143 | 142 | 125 | 128 | 153 | 110 | 140 |
Days Payable | 135 | 306 | 179 | 183 | 241 | 189 | 174 | 147 | 180 | 157 | 141 | 141 |
Cash Conversion Cycle | 62 | 178 | 42 | 48 | 48 | 64 | 105 | 89 | 92 | 138 | 129 | 171 |
Working Capital Days | 18 | 82 | 32 | 36 | 31 | 55 | 78 | 68 | 82 | 104 | 103 | 84 |
ROCE % | 14% | 6% | 16% | 21% | 23% | 17% | 15% | 11% | 14% | 8% | 11% | 12% |
Documents
Announcements
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Sale / Disposal Of Step-Down Subsidiaries
9 Dec - ISGEC sells step-down subsidiaries for USD 10 million.
- Investor Presentation On Financial Performance Of The Company For The Quarter Ended September, 30, 2024 29 Nov
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Announcement under Regulation 30 (LODR)-Credit Rating
25 Nov - ICRA reaffirms bank facility ratings with positive outlook.
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Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
25 Nov - Issuance of duplicate share certificates confirmation.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Nov - Of Newspaper Publications/Advertisements for Unaudited Financial Results for the quarter and half year ended September 30, 2024.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Nov 2024TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Jun 2018TranscriptNotesPPT
History
Established in 1933, the company initially offered Sugar Machinery and Boilers. Over the years, it has transformed into a diversified heavy engineering company with 86% Consolidated Revenues from Engineering Products and Projects. [1]