About
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 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 comprising air pollution control equipment, bag filters, SCR/SNCR, flue gas desulphurization systems, and deaerators; and site construction and commissioning, operation and maintenance, supervision, retrofitting and modernization, residual life assessment studies, spares, and technical assistance services. It also 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, such as mechanical and hydraulic straight sided, mechanical gap and ring frame, 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 provides iron castings, air pollution control equipment, and liquefied gas containers, as well as 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, and chemicals industries. 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 based in Noida, India.
Key Metrics
as of Sep 2026Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,553.00 | 1,675.00 | 1,327.00 | 1,243.00 | 984.00 | 1,444.00 | 1,119.00 | 1,240.00 | 1,215.00 | 1,550.00 | 1,067.00 | 1,114.00 | 1,131.00 |
| Expenses | 1,429.00 | 1,587.00 | 1,221.00 | 1,150.00 | 908.00 | 1,340.00 | 1,029.00 | 1,126.00 | 1,113.00 | 1,436.00 | 985.00 | 1,020.00 | 1,054.00 |
| Operating Profit | 124.00 | 88.00 | 106.00 | 93.00 | 76.00 | 103.00 | 90.00 | 114.00 | 103.00 | 114.00 | 82.00 | 94.00 | 77.00 |
| OPM % | 8.00 | 5.00 | 8.00 | 7.00 | 8.00 | 7.00 | 8.00 | 9.00 | 8.00 | 7.00 | 8.00 | 8.00 | 7.00 |
| Other Income | 32.00 | 81.00 | 24.00 | 50.00 | 61.00 | 10.00 | 9.00 | 15.00 | 28.00 | 6.00 | 5.00 | 6.00 | 28.00 |
| Depreciation | 18.00 | 19.00 | 19.00 | 18.00 | 17.00 | 18.00 | 17.00 | 17.00 | 16.00 | 18.00 | 17.00 | 16.00 | 16.00 |
| Interest | 16.00 | 17.00 | 13.00 | 13.00 | 8.00 | 6.00 | 3.00 | 3.00 | 3.00 | 6.00 | 10.00 | 14.00 | 11.00 |
| Profit before tax | 123.00 | 133.00 | 99.00 | 111.00 | 112.00 | 89.00 | 78.00 | 109.00 | 111.00 | 96.00 | 60.00 | 70.00 | 78.00 |
| Tax % | 25.00 | 24.00 | 24.00 | 24.00 | 23.00 | 29.00 | 25.00 | 24.00 | 21.00 | 27.00 | 26.00 | 24.00 | 18.00 |
| Net Profit | 92.00 | 101.00 | 75.00 | 84.00 | 87.00 | 63.00 | 59.00 | 83.00 | 88.00 | 71.00 | 44.00 | 53.00 | 64.00 |
| EPS in Rs | 12.51 | 13.68 | 10.22 | 11.47 | 11.78 | 8.59 | 7.98 | 11.34 | 12.04 | 9.62 | 6.01 | 7.21 | 8.67 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,229.00 | 5,018.00 | 4,861.00 | 4,652.00 | 4,444.00 | 4,310.00 | 4,894.00 | 4,129.00 | 2,600.00 | 3,032.00 | 3,870.00 | 3,276.00 |
| Expenses | 4,844.00 | 4,592.00 | 4,475.00 | 4,335.00 | 4,215.00 | 3,957.00 | 4,597.00 | 3,860.00 | 2,419.00 | 2,759.00 | 3,553.00 | 2,996.00 |
| Operating Profit | 385.00 | 427.00 | 386.00 | 317.00 | 230.00 | 352.00 | 296.00 | 268.00 | 181.00 | 272.00 | 317.00 | 280.00 |
| OPM % | 7.00 | 8.00 | 8.00 | 7.00 | 5.00 | 8.00 | 6.00 | 6.00 | 7.00 | 9.00 | 8.00 | 9.00 |
| Other Income | 216.00 | 59.00 | 42.00 | 34.00 | 25.00 | 35.00 | 18.00 | 34.00 | 72.00 | 93.00 | 61.00 | 42.00 |
| Interest | 72.00 | 30.00 | 57.00 | 53.00 | 43.00 | 35.00 | 33.00 | 33.00 | 18.00 | 34.00 | 31.00 | 33.00 |
| Depreciation | 74.00 | 67.00 | 67.00 | 63.00 | 65.00 | 68.00 | 74.00 | 66.00 | 67.00 | 64.00 | 64.00 | 72.00 |
| Profit before tax | 455.00 | 388.00 | 304.00 | 234.00 | 147.00 | 285.00 | 207.00 | 203.00 | 168.00 | 268.00 | 283.00 | 218.00 |
| Tax % | 24.00 | 24.00 | 24.00 | 24.00 | 23.00 | 23.00 | 26.00 | 37.00 | 29.00 | 30.00 | 33.00 | 34.00 |
| Net Profit | 347.00 | 294.00 | 232.00 | 178.00 | 113.00 | 218.00 | 153.00 | 128.00 | 119.00 | 189.00 | 190.00 | 143.00 |
| EPS in Rs | 47.16 | 39.95 | 31.51 | 24.20 | 15.34 | 29.68 | 20.82 | 17.45 | 16.19 | 25.66 | 25.84 | 19.48 |
| Dividend Payout % | 13.00 | 13.00 | 13.00 | 12.00 | 13.00 | 10.00 | 10.00 | 37.00 | 10.00 | 12.00 | 8.00 | 10.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| Reserves | 2,726.00 | 2,410.00 | 2,147.00 | 1,938.00 | 1,776.00 | 1,667.00 | 1,463.00 | 1,340.00 | 1,215.00 | 1,118.00 | 950.00 | 762.00 |
| Borrowings | 685.00 | 277.00 | 45.00 | 463.00 | 443.00 | 209.00 | 354.00 | 75.00 | 82.00 | 110.00 | 313.00 | 272.00 |
| Other Liabilities | 3,626.00 | 3,275.00 | 3,666.00 | 2,945.00 | 2,695.00 | 2,904.00 | 2,609.00 | 2,840.00 | 2,024.00 | 2,129.00 | 2,136.00 | 1,807.00 |
| Total Liabilities | 7,044.00 | 5,969.00 | 5,865.00 | 5,354.00 | 4,921.00 | 4,787.00 | 4,433.00 | 4,262.00 | 3,329.00 | 3,364.00 | 3,406.00 | 2,848.00 |
| Fixed Assets | 505.00 | 495.00 | 456.00 | 471.00 | 475.00 | 483.00 | 519.00 | 507.00 | 455.00 | 464.00 | 460.00 | 399.00 |
| CWIP | 131.00 | 56.00 | 34.00 | 17.00 | 8.00 | 9.00 | 8.00 | 11.00 | 29.00 | 15.00 | 10.00 | 10.00 |
| Investments | 207.00 | 244.00 | 168.00 | 180.00 | 288.00 | 213.00 | 251.00 | 325.00 | 509.00 | 831.00 | 693.00 | 477.00 |
| Other Assets | 6,202.00 | 5,175.00 | 5,208.00 | 4,686.00 | 4,150.00 | 4,083.00 | 3,656.00 | 3,418.00 | 2,335.00 | 2,053.00 | 2,243.00 | 1,962.00 |
| Total Assets | 7,044.00 | 5,969.00 | 5,865.00 | 5,354.00 | 4,921.00 | 4,787.00 | 4,433.00 | 4,262.00 | 3,329.00 | 3,364.00 | 3,406.00 | 2,848.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 359.00 | 365.00 | 519.00 | 44.00 | -134.00 | 151.00 | -191.00 | -162.00 | -113.00 | 155.00 | 201.00 | 345.00 |
| Cash from Investing Activity | -523.00 | -542.00 | -92.00 | 56.00 | -108.00 | 36.00 | 23.00 | 100.00 | 310.00 | -183.00 | -285.00 | -207.00 |
| Cash from Financing Activity | 311.00 | 181.00 | -486.00 | -44.00 | 201.00 | -208.00 | 219.00 | -27.00 | -57.00 | -236.00 | 1.00 | -157.00 |
| Net Cash Flow | 148.00 | 5.00 | -59.00 | 56.00 | -41.00 | -21.00 | 51.00 | -90.00 | 140.00 | -264.00 | -82.00 | -19.00 |
| Free Cash Flow | 210.00 | 242.00 | 454.00 | -12.00 | -189.00 | 119.00 | -257.00 | -265.00 | -184.00 | 84.00 | 76.00 | 299.00 |
| CFO/OP % | 130.00 | 104.00 | 155.00 | 29.00 | -33.00 | 61.00 | -42.00 | -30.00 | -35.00 | 82.00 | 94.00 | 150.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 201.00 | 219.00 | 233.00 | 219.00 | 187.00 | 200.00 | 148.00 | 159.00 | 156.00 | 129.00 | 131.00 | 103.00 |
| Inventory Days | 133.00 | 104.00 | 103.00 | 88.00 | 75.00 | 69.00 | 67.00 | 93.00 | 138.00 | 97.00 | 46.00 | 76.00 |
| Days Payable | 152.00 | 148.00 | 167.00 | 183.00 | 166.00 | 211.00 | 160.00 | 195.00 | 303.00 | 315.00 | 204.00 | 195.00 |
| Cash Conversion Cycle | 182.00 | 175.00 | 169.00 | 124.00 | 96.00 | 58.00 | 55.00 | 57.00 | -10.00 | -89.00 | -28.00 | -15.00 |
| Working Capital Days | 81.00 | 96.00 | 99.00 | 90.00 | 80.00 | 84.00 | 49.00 | 57.00 | 37.00 | -17.00 | -23.00 | -21.00 |
| ROCE % | 18.00 | 17.00 | 16.00 | 12.00 | 9.00 | 17.00 | 15.00 | 16.00 | 14.00 | 21.00 | 26.00 | 23.00 |
Corporate Actions
27 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 08 Sep 2025 | 09 Sep 2025 | — | 5.00 | |
| Dividend | 21 Aug 2024 | 21 Aug 2024 | — | 4.00 | |
| Other | 21 Aug 2024 | — | — | — | Annual General Meeting |
| Dividend | 14 Aug 2023 | 16 Aug 2023 | — | 3.00 | |
| Other | 14 Aug 2023 | — | — | — | Annual General Meeting |
| Dividend | 12 Aug 2022 | — | — | 2.00 | |
| Dividend | 08 Sep 2021 | — | — | 1.00 | |
| Dividend | 24 Feb 2021 | 25 Feb 2021 | — | 2.00 | |
| Dividend | 24 Feb 2020 | 25 Feb 2020 | — | 2.00 | |
| Dividend | 31 Jul 2019 | — | — | 1.50 | |
| Split | 28 Mar 2019 | 29 Mar 2019 | 10:1 | — | |
| Dividend | 18 Feb 2019 | 20 Feb 2019 | — | 5.00 | |
| Dividend | 27 Mar 2018 | 29 Mar 2018 | — | 16.00 | |
| Dividend | 20 Jul 2017 | — | — | 15.00 | |
| Dividend | 19 Jan 2017 | 20 Jan 2017 | — | 15.00 | |
| Dividend | 28 Jul 2016 | — | — | 10.00 | |
| Dividend | 11 Feb 2016 | 12 Feb 2016 | — | 10.00 | |
| Dividend | 30 Jul 2015 | — | — | 10.00 | |
| Dividend | 26 Feb 2015 | 27 Feb 2015 | — | 10.00 | |
| Dividend | 23 Jul 2014 | — | — | 7.00 | |
| Dividend | 30 Jan 2014 | — | — | 10.00 | |
| Dividend | 07 Feb 2013 | — | — | 10.00 | |
| Dividend | 14 Feb 2012 | — | — | 10.00 | |
| Dividend | 15 Mar 2011 | — | — | 1.00 | |
| Dividend | 22 Apr 2010 | 23 Apr 2010 | — | 9.00 | |
| Dividend | 10 Mar 2010 | — | — | 10.00 | |
| Dividend | 18 Mar 2009 | — | — | 2.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update26 May from icra
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Rating update27 Mar 2025 from icra
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Rating update19 Dec 2023 from icra
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Rating update23 Nov 2023 from icra
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Rating update28 Nov 2022 from icra
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Rating update25 Aug 2022 from icra