Is ISGEC Heavy Engineering Ltd (ISGEC) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that ISGEC Heavy Engineering Ltd is a average quality company .

Is ISGEC Heavy Engineering Ltd (ISGEC) undervalued or overvalued?

The key valuation ratios of ISGEC Heavy Engineering Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is ISGEC Heavy Engineering Ltd (ISGEC) share price return in the past 10 years?

ISGEC Heavy Engineering Ltd share price has appreciated 8.8% annually (CAGR) over the past ten years.

Is ISGEC Heavy Engineering Ltd (ISGEC) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of ISGEC Heavy Engineering Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of ISGEC Heavy Engineering Ltd (ISGEC)?

Company share prices are keep on changing according to the market conditions. The current trading price of ISGEC Heavy Engineering Ltd (ISGEC) on 10-Apr-2026 16:59:59 at 16:59 is 1001.25.

What is the market cap of ISGEC Heavy Engineering Ltd (ISGEC)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Apr-2026 at 16:59, the market cap of ISGEC Heavy Engineering stood at Rs. 7362.14 Cr.

What is the P/E ratio of ISGEC Heavy Engineering?

The latest standalone P/E ratio of ISGEC Heavy Engineering as of 10-Apr-2026 is 23.80.

What is the P/B ratio of ISGEC Heavy Engineering Ltd (ISGEC)?

The latest standalone P/B ratio of ISGEC Heavy Engineering Ltd (ISGEC) as of 10-Apr-2026 is 2.80.

What is the 52-week high and low of ISGEC Heavy Engineering Ltd (ISGEC)?

The 52-week high of ISGEC Heavy Engineering Ltd (ISGEC) is Rs. 1285.95 and the 52-week low is Rs. 682.75.

What is the TTM revenue of ISGEC Heavy Engineering Ltd (ISGEC)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ISGEC Heavy Engineering is Rs. 4997.56 (Cr.).

ISGEC Heavy Engineering Ltd (ISGEC) Share Analysis – Order Book, Quality & Valuation Zone & DeciZen Rating

Name: ISGEC Heavy Engineering Ltd (ISGEC)
Brand: ISGEC Heavy Engineering

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	22.9%	25.8%	18%	16.1%	12.1%	14.7%	7.8%	11.2%	13.7%	15.5%	-
Value Creation Index ⓘ	0.6	0.8	0.3	0.2	-0.1	0.1	-0.4	-0.2	0.0	0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	4,510	3,917	3,791	5,051	5,882	5,426	5,499	6,399	6,218	6,422	6,515
Sales YoY Gr.	-	-13.2%	-3.2%	33.2%	16.5%	-7.8%	1.4%	16.4%	-2.8%	3.3%	-
Adj EPS ⓘ	23.6	29.4	21.7	19.4	20.7	35.2	15.8	29	36.8	47	32.2
YoY Gr.	-	24.8%	-26.3%	-10.6%	6.9%	70.1%	-55.1%	83%	27.2%	27.6%	-
BVPS (₹) ⓘ	139.9	170.5	187.8	206.1	242.7	274.9	288.5	313.4	343.1	372.5	394.4
Adj Net Profit ⓘ	173	216	159	143	152	259	116	213	271	345	237
Cash Flow from Ops. ⓘ	123	236	101	-238	104	228	-70.3	208	735	116	-
Debt/CF from Ops. ⓘ	5.4	1.5	1.7	-1.3	9.3	4.2	-17.1	5.8	1.1	7.3	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	4%	1.8%	5.3%	3.3%
Adj EPS ⓘ	8%	17.8%	43.7%	27.6%
BVPSⓘ	11.5%	8.9%	8.9%	8.6%
Share Price	8.8%	16.2%	28.6%	-2.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	18.5	19	12.1	9.8	9.2	13.6	5.6	9.6	11.2	13.1	8.4
Op. Profit Mgn % ⓘ	7.7	10.4	8.6	6	6.1	9	6.3	7.8	8.9	9.5	9.4
Net Profit Mgn % ⓘ	4	5.7	4.5	2.9	2.7	4.9	2.2	3.5	4.5	5.6	3.6
Debt to Equity ⓘ	0.6	0.3	0.1	0.2	0.5	0.5	0.6	0.5	0.3	0.3	-
Working Cap Days ⓘ	196	246	258	248	262	296	313	285	323	330	151
Cash Conv. Cycle ⓘ	52	53	56	81	92	98	118	119	150	162	39

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 43.73%

Return on Equity has declined versus last 3 years average to 8.40%

Sales growth has been subdued in last 3 years 5.31%

Sales growth is not so good in last 4 quarters at -0.07%

	Standalone	Consolidated
TTM EPS (₹)	42.1	32.2
TTM Sales (₹ Cr.)	4,998	6,515
BVPS (₹) ⓘ	357.1	394.4
Reserves (₹ Cr.) ⓘ	2,618	2,893
P/BV ⓘ	2.80	2.54
PE ⓘ	23.80	31.05

From the Market
52 Week Low / High (₹)	682.75 / 1285.95
All Time Low / High (₹)	5.00 / 1677.25
Market Cap (₹ Cr.)	7,362
Equity (₹ Cr.)	7.4
Face Value (₹)	1
Industry PE ⓘ	29.4

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	4,510	3,917	3,791	5,051	5,882	5,426	5,499	6,399	6,218	6,422
Operating Expenses ⓘ +	4,164	3,510	3,482	4,765	5,538	4,957	5,165	5,927	5,672	5,826
Manufacturing Costs	614	700	689	827	1,185	967	1,054	1,178	1,152	1,145
Material Costs	2,837	2,091	2,089	3,076	3,445	3,261	3,354	3,875	3,673	3,715
Employee Cost	303	327	340	375	422	384	433	463	510	556
Other Costs ⓘ	410	391	364	486	486	345	325	411	337	410
Operating Profit ⓘ	346	407	308	286	344	469	334	472	547	596
Operating Profit Margin (%)	7.7%	10.4%	8.1%	5.7%	5.9%	8.6%	6.1%	7.4%	8.8%	9.3%
Other Income ⓘ +	80	94	57	69	32	52	13	13	22	39
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	66	58	34	45	61	64	88	91	84	56
Depreciation ⓘ	76	75	81	82	101	101	101	104	101	102
Profit Before Tax ⓘ	284	367	251	227	214	356	158	290	383	477
Tax ⓘ	93	119	83	83	65	103	43	84	99	122
Profit After Tax	190	248	168	144	149	253	115	206	284	356
PAT Margin (%)	4.2%	6.3%	4.4%	2.9%	2.5%	4.7%	2.1%	3.2%	4.6%	5.5%
Adjusted EPS (₹)	25.1	32.9	21.4	19.4	19.7	33.7	14.8	26.7	33.1	33.9
Dividend Payout Ratio (%)	8%	9%	7%	10%	10%	9%	14%	11%	12%	15%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	1,029	1,254	1,381	1,515	1,785	2,022	2,121	2,304	2,523	2,739
Share Capital ⓘ	7	7	7	7	7	7	7	7	7	7
Reserves ⓘ	1,021	1,246	1,374	1,508	1,777	2,014	2,114	2,297	2,515	2,731
Debt +	622	337	143	304	938	880	1,042	1,054	676	786
Long Term Debt	88	37	0	56	386	464	465	433	406	221
Short Term Debt	534	300	143	248	552	417	577	621	270	564
Minority Interest	53	61	72	72	75	78	81	88	96	110
Trade Payables	1,424	1,417	1,110	1,482	1,409	1,622	1,445	1,497	1,423	1,249
Others Liabilities ⓘ	1,080	1,153	1,234	1,890	1,874	1,918	2,099	2,216	3,268	3,217
Total Liabilities ⓘ	4,208	4,221	3,940	5,263	6,080	6,520	6,788	7,159	7,985	8,101
Fixed Assets
Net Fixed Assets ⓘ +	615	623	629	749	833	803	977	947	956	973
Gross Block	1,197	1,273	1,331	1,058	1,239	1,307	1,582	1,652	1,754	1,820
Accumulated Depreciation	581	650	702	309	406	504	605	704	797	846
CWIP ⓘ	10	19	32	19	706	893	702	805	959	66
Investments ⓘ	554	697	371	155	98	60	135	33	29	85
Inventories	895	1,076	840	1,209	1,196	1,153	1,403	1,164	1,410	1,477
Trade Receivables	1,430	1,133	1,136	1,893	1,793	2,145	2,152	2,820	2,929	2,833
Cash Equivalents	310	142	240	140	214	179	136	211	192	146
Others Assets ⓘ	392	531	692	1,099	1,239	1,286	1,283	1,179	1,510	2,519
Total Assets ⓘ	4,208	4,221	3,940	5,263	6,080	6,520	6,788	7,159	7,985	8,101

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	123	236	101	-238	104	228	-70	208	735	116
PBT ⓘ	284	367	251	227	214	356	158	290	354	386
Adjustment ⓘ	57	27	34	63	84	160	143	150	169	206
Changes in Working Capital ⓘ	-121	-47	-101	-438	-123	-201	-298	-161	319	-375
Tax Paid ⓘ	-97	-110	-84	-90	-72	-87	-74	-71	-107	-100
Cash Flow From Investing Activity ⓘ +	-261	-141	276	70	-347	-186	-141	-58	-232	-304
Capex	-133	-91	-99	-125	-431	-238	-64	-156	-242	-235
Net Investments	-169	-86	357	228	78	49	-83	100	6	-69
Others ⓘ	41	36	18	-33	6	4	6	-2	3	-1
Cash Flow From Financing Activity ⓘ +	66	-370	-233	93	295	-89	176	-98	-487	108
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	84	107	108	-62	-25	-46
Interest Paid ⓘ	-53	-42	-23	-30	-38	-39	-76	-55	-78	-104
Dividend Paid ⓘ	-15	-18	-24	-5	-27	-17	-10	-17	-25	-32
Others ⓘ	134	-309	-186	129	276	-140	154	37	-359	290
Net Cash Flow ⓘ	-72	-275	144	-74	52	-47	-36	51	16	-80

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	20.33	21.76	12.78	9.94	9.04	13.3	5.55	9.29	11.78	13.52
ROCE (%)	22.88	25.76	18.01	16.11	12.07	14.7	7.81	11.15	13.71	15.49
Asset Turnover Ratio	1.19	0.96	0.94	1.1	1.04	0.86	0.83	0.92	0.82	0.8
PAT to CFO Conversion(x)	0.65	0.95	0.6	-1.65	0.7	0.9	-0.61	1.01	2.59	0.33
Working Capital Days
Receivable Days	97	115	108	109	114	132	143	142	169	164
Inventory Days	68	89	91	74	75	79	85	73	76	82
Payable Days	169	248	221	154	153	170	167	139	145	131

About ISGEC Heavy Engineering Ltd

Saraswati Industrial Syndicate is a 58-year old company listed on the Delhi Stock Exchange. The chairman & managing director is D D Puri and the joint managing director is Ranjit Puri. The company has interests in sugar, engineering, steels, etc. Saraswati Industrial Syndicate's sugar mills are located at Yammunanagar, the engineering division at Yamunanagar and Calcutta and the steel division at Muzaffarnagar (UP).

Business areas of the company:

Saraswati Industrial Syndicate manufactures bars and rods, metal, machine tool parts and accessories, steel and sugar products. The company's principal activity is to manufacture engineering equipments. It operates in two segments: Engineering and Sugar. Engineering comprises production and sales of heavy engineering equipments, mechanical and hydraulic presses and castings and construction and erection of plant and machinery. Sugar consists of manufacture and sale of sugar. The Group's products include pressure vessels and heat exchangers, presses, boilers, steel castings, sugar plant and machinery, iron castings and liquefied gas container.

Net profit of Saraswati Industrial Syndicate declined 28.20% to Rs 10.95 crore in the quarter ended June 2009 as against Rs 15.25 crore during the previous quarter ended June 2008. Sales rose 56.77% to Rs 429.54 crore in the quarter ended June 2009 as against Rs 273.99 crore during the previous quarter ended June 2008.

Competitors:

â€¢ SAIL â€¢ Tata Steel â€¢ JSW Steel â€¢ Bhushan Steel â€¢ Essar Steel â€¢ Jindal Saw, etc.

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ISGEC Heavy Engineering Ltd (ISGEC) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

ISGEC Heavy Engg. Share Price