Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,473 | 1,493 | 1,868 | 1,540 | 1,644 | 1,495 | 1,744 | 1,356 | 1,691 | 1,739 | 2,048 | 1,980 |
| Expenses | 1,340 | 1,369 | 1,730 | 1,415 | 1,517 | 1,364 | 1,592 | 1,232 | 1,544 | 1,545 | 1,892 | 1,856 |
| Operating Profit | 134 | 123 | 138 | 125 | 127 | 132 | 152 | 124 | 147 | 194 | 156 | 124 |
| OPM % | 9% | 8% | 7% | 8% | 8% | 9% | 9% | 9% | 9% | 11% | 8% | 6% |
| Other Income | 4 | 5 | 4 | 9 | 34 | -31 | 3 | 18 | -7 | -26 | 63 | 13 |
| Interest | 20 | 13 | 11 | 11 | 8 | 8 | 13 | 26 | 19 | 17 | 20 | 19 |
| Depreciation | 26 | 27 | 28 | 26 | 26 | 40 | 12 | 71 | 27 | 28 | 68 | 65 |
| Profit before tax | 91 | 89 | 102 | 96 | 128 | 52 | 130 | 45 | 94 | 123 | 131 | 53 |
| Tax % | 30% | 25% | 30% | 30% | 25% | 56% | 24% | 70% | 40% | 31% | 35% | 67% |
| Net Profit | 64 | 67 | 72 | 67 | 96 | 23 | 98 | 13 | 56 | 84 | 85 | 18 |
| EPS in Rs | 8.13 | 8.42 | 9.70 | 8.90 | 12.59 | 2.73 | 12.40 | 0.94 | 5.98 | 9.49 | 9.96 | 1.22 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,507 | 3,916 | 3,790 | 5,050 | 5,882 | 5,426 | 5,499 | 6,399 | 6,218 | 6,425 | 6,789 | 7,458 |
| Expenses | 4,157 | 3,510 | 3,481 | 4,761 | 5,537 | 4,956 | 5,165 | 5,926 | 5,671 | 5,877 | 6,206 | 6,837 |
| Operating Profit | 349 | 407 | 309 | 289 | 345 | 469 | 335 | 473 | 548 | 548 | 583 | 620 |
| OPM % | 8% | 10% | 8% | 6% | 6% | 9% | 6% | 7% | 9% | 9% | 9% | 8% |
| Other Income | 76 | 93 | 56 | 65 | 31 | 52 | 13 | 12 | -8 | 35 | 117 | 42 |
| Interest | 66 | 58 | 34 | 45 | 61 | 64 | 88 | 91 | 84 | 82 | 113 | 75 |
| Depreciation | 76 | 75 | 81 | 82 | 101 | 101 | 101 | 104 | 101 | 175 | 278 | 187 |
| Profit before tax | 284 | 367 | 251 | 227 | 214 | 356 | 158 | 290 | 354 | 326 | 308 | 401 |
| Tax % | 33% | 32% | 33% | 37% | 30% | 29% | 27% | 29% | 28% | 37% | 50% | |
| Net Profit | 190 | 248 | 168 | 144 | 149 | 253 | 115 | 206 | 255 | 204 | 154 | 243 |
| EPS in Rs | 25.13 | 32.94 | 21.40 | 19.42 | 19.65 | 33.71 | 14.80 | 26.72 | 33.14 | 25.79 | 14.81 | 26.65 |
| Dividend Payout % | 8% | 9% | 7% | 33% | 10% | 9% | 14% | 11% | 12% | 19% | 40% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 4% | 5% | 2% | 20% | ||
| Compounded Profit Growth | -4% | -14% | -17% | 13% | ||
| Stock Price CAGR | 7% | 4% | 7% | 1% | ||
| Return on Equity | 9% | 7% | 7% | 4% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves | 837 | 1,021 | 1,246 | 1,374 | 1,508 | 1,777 | 2,014 | 2,114 | 2,297 | 2,515 | 2,672 | 2,729 |
| Borrowings | 524 | 661 | 356 | 174 | 304 | 991 | 983 | 1,233 | 1,235 | 814 | 1,098 | 951 |
| Other Liabilities | 2,110 | 2,434 | 2,504 | 2,271 | 3,303 | 3,166 | 3,441 | 3,387 | 3,513 | 4,470 | 4,172 | 4,352 |
| Total Liabilities | 3,479 | 4,124 | 4,114 | 3,826 | 5,121 | 5,941 | 6,445 | 6,741 | 7,053 | 7,807 | 7,949 | 8,040 |
| Fixed Assets | 554 | 615 | 623 | 629 | 749 | 833 | 803 | 977 | 947 | 956 | 1,914 | 1,790 |
| CWIP | 14 | 10 | 19 | 32 | 19 | 706 | 893 | 702 | 805 | 959 | 66 | 138 |
| Investments | 348 | 554 | 697 | 371 | 155 | 98 | 60 | 135 | 33 | 29 | 102 | 66 |
| Other Assets | 2,562 | 2,944 | 2,775 | 2,794 | 4,199 | 4,303 | 4,689 | 4,928 | 5,267 | 5,863 | 5,866 | 6,046 |
| Total Assets | 3,479 | 4,124 | 4,114 | 3,826 | 5,121 | 5,941 | 6,445 | 6,741 | 7,053 | 7,807 | 7,949 | 8,040 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 261 | 123 | 236 | 101 | -238 | 104 | 228 | -70 | 208 | 735 | 116 | 765 |
| Cash from Investing Activity | -239 | -261 | -141 | 276 | 73 | -328 | -164 | -159 | -43 | -274 | -274 | -193 |
| Cash from Financing Activity | -66 | 66 | -370 | -233 | 93 | 295 | -89 | 176 | -98 | -487 | 108 | -341 |
| Net Cash Flow | -44 | -72 | -275 | 144 | -71 | 71 | -25 | -53 | 67 | -26 | -49 | 231 |
| Free Cash Flow | 179 | -3 | 149 | 2 | -363 | -328 | -11 | -135 | 51 | 493 | -119 | 600 |
| CFO/OP | 124% | 63% | 85% | 60% | -51% | 51% | 67% | 1% | 59% | 154% | 39% | 161% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 96 | 116 | 106 | 109 | 137 | 111 | 144 | 143 | 161 | 172 | 161 | 148 |
| Inventory Days | 125 | 115 | 183 | 143 | 142 | 125 | 129 | 153 | 110 | 140 | 146 | 163 |
| Days Payable | 179 | 183 | 241 | 189 | 174 | 147 | 182 | 157 | 141 | 141 | 123 | 118 |
| Cash Conversion Cycle | 42 | 48 | 48 | 64 | 105 | 89 | 92 | 138 | 129 | 171 | 184 | 192 |
| Working Capital Days | -6 | -7 | 3 | 42 | 60 | 34 | 53 | 54 | 58 | 61 | 70 | 67 |
| ROCE % | 16% | 21% | 23% | 17% | 15% | 11% | 14% | 8% | 11% | 13% | 11% | 11% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% | 62.43% |
| FIIs | 3.48% | 3.53% | 3.51% | 3.83% | 3.91% | 4.20% | 3.47% | 3.53% | 3.48% | 3.60% | 3.85% | 3.76% |
| DIIs | 8.33% | 8.73% | 8.81% | 8.82% | 11.26% | 11.57% | 11.11% | 10.63% | 10.39% | 10.47% | 10.31% | 10.24% |
| Government | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 25.75% | 25.30% | 25.23% | 24.91% | 22.40% | 21.81% | 23.00% | 23.39% | 23.67% | 23.50% | 23.40% | 23.55% |
| No. of Shareholders | 32,601 | 32,484 | 31,635 | 30,328 | 30,009 | 28,925 | 32,763 | 37,060 | 38,449 | 39,402 | 38,998 | 38,896 |
Fundamentals
Market Cap₹ 6,471 Cr.
Current Price₹ 880
Stock P/E24.8
Book Value₹ 372
ROCE11.2 %
ROE4.18 %
Dividend Yield0.68 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)13%
Consolidated figures.
Valuation
Market capRs 6,763 Cr
Enterprise valueRs 7,316 Cr
P/E (TTM)34.52x
Price to book2.47x
Price to sales0.91x
EV / EBITDA11.04x
EV / EBIT15.37x
EV / sales0.98x
Price to cash flow8.84x
Earnings yield2.90%
Dividend yield0.65%
P/E, 3-year average42.00x
P/B, 3-year average2.60x
P/E, 5-year average35.40x
P/B, 5-year average2.20x
Profitability
Operating margin (excl. other income)8.59%
Operating margin (incl. other income)10.31%
EBITDA margin8.89%
Pre-tax margin5.37%
Net profit margin2.63%
Net margin, latest quarter0.45%
ROE4.02%
ROCE11.29%
ROA1.36%
ROE, 3-year average7.14%
ROCE, 3-year average11.83%
ROA, 3-year average2.35%
ROE, 5-year average7.11%
ROCE, 5-year average10.86%
ROA, 5-year average2.31%
ROIC (approx.)7.24%
Tax rate49.97%
Other income / net worth4.26%
Growth
Sales growth (latest year)5.67%
Profit growth (latest year)-42.57%
Sales CAGR, 3 years1.99%
Sales CAGR, 5 years4.59%
Profit CAGR, 3 years-17.85%
Profit CAGR, 5 years-15.16%
Sales growth QoQ-3.33%
Profit growth QoQ-87.78%
Sales growth YoY (latest quarter)45.98%
Profit growth YoY (latest quarter)29.15%
Per share
EPS (TTM)Rs 26.64
EPS (latest year)Rs 14.81
EPS (latest quarter)Rs 1.22
EPS, 3-year averageRs 24.58
EPS, 5-year averageRs 23.05
Book value per shareRs 372.17
Sales per shareRs 1,014.28
Cash flow per shareRs 104.04
Free cash flow per shareRs 81.60
Dividend per share (latest year)Rs 6.00
Dividend per share, 3-year averageRs 5.00
Dividend per share, 5-year averageRs 4.00
Dividends
Dividend payout40.49%
Dividend payout, 3-year average23.98%
Dividend payout, 5-year average19.33%
Efficiency
Asset turnover0.84x
Fixed asset turnover3.79x
Inventory turnover3.08x
Inventory days119 days
Debtor days148 days
Debtors turnover2.47x
Creditor days118 days
Cash conversion cycle192 days
Working capital days67 days
Leverage
Total debtRs 951 Cr
Cash and bankRs 397 Cr
Net debtRs 554 Cr
Debt to equity0.35x
Net debt / EBITDA0.84x
Interest coverage6.31x
Current ratio (filing 2026-03-31)1.39x
Quick ratio (filing 2026-03-31)1.01x
Trade payables (filing 2026-03-31)Rs 1,200 Cr
Owners' fund to total sources34.04%
Debt to assets11.83%
Cash flow
Cash from Operating Activity (latest year)Rs 765 Cr
Cash from Investing Activity (latest year)Rs -193 Cr
Cash from Financing Activity (latest year)Rs -341 Cr
Net Cash Flow (latest year)Rs 231 Cr
Free cash flow (latest year)Rs 600 Cr
FCFE (approx.: FCF + change in debt)Rs 453 Cr
Cash from ops / profit, 5 years1.88x
Sales to cash flow8.88x
Statement figures
Net sales (TTM)Rs 7,458 Cr
Net sales (latest year)Rs 6,789 Cr
Sales (latest quarter)Rs 1,980 Cr
Operating profit excl. other income (latest year)Rs 583 Cr
Operating profit (latest quarter)Rs 124 Cr
Other income (TTM)Rs 42 Cr
EBITDA (TTM)Rs 663 Cr
PBDT (TTM)Rs 588 Cr
Profit before tax (TTM)Rs 401 Cr
Tax (latest year)Rs 154 Cr
Net profit (TTM)Rs 196 Cr
Net profit (latest year)Rs 109 Cr
Net profit (latest quarter)Rs 9 Cr
Depreciation (TTM)Rs 187 Cr
Depreciation (latest quarter)Rs 65 Cr
Interest (TTM)Rs 75 Cr
Cost of goods sold (latest year)Rs 5,084 Cr
Total expenditure (latest year)Rs 6,206 Cr
Total income (latest year)Rs 6,906 Cr
Share capitalRs 7 Cr
ReservesRs 2,729 Cr
Shareholders' fundsRs 2,737 Cr
Total assetsRs 8,040 Cr
Net blockRs 1,790 Cr
Capital work in progressRs 138 Cr
InvestmentsRs 66 Cr
ReceivablesRs 2,751 Cr
InventoryRs 1,653 Cr
Other liabilitiesRs 4,352 Cr
Shares outstanding (crore)7.35
Ownership
Promoter holding62.43% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 34.5 is at the 81th percentile of its own 9.4-year range
(median 26.0, low 11.3, high 47.2).
P/B 2.47 is at the 51th percentile (median 2.42).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | ISGEC | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +8.2% | -2.8% | +11.0 pts |
| 1 month | +18.2% | -6.8% | +25.0 pts |
| 3 months | -0.1% | -7.6% | +7.5 pts |
| 6 months | +6.7% | +0.4% | +6.3 pts |
| 1 year | -1.6% | -9.9% | +8.3 pts |
| 2 years | -33.4% | -13.6% | -19.9 pts |
| 3 years | +26.4% | +14.2% | +12.3 pts |
| 5 years | +28.6% | +27.9% | +0.7 pts |
13 mutual fund schemes hold about ₹549 Cr.
Over three months 0 bought more and 13 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Nippon India Small Cap Fund | 0.43% | 356 | -19% |
| Bandhan Large & Mid Cap Fund | 0.43% | 91 | -15% |
| Nippon India Retirement Fund-Wealth Creation | 0.66% | 21 | -16% |
| Nippon India Power & Infra Fund | 0.23% | 18 | -25% |
| Tata Infrastructure Fund | 0.68% | 14 | -11% |
| Tata Infrastructure Fund | 0.68% | 14 | -11% |
| Bandhan Infrastructure Fund | 0.90% | 13 | -7% |
| Mahindra Manulife Manufacturing Fund | 1.28% | 9 | -15% |
| Bandhan Balanced Advantage Fund | 0.26% | 6 | -15% |
| Mahindra Manulife Multi Asset Allocation Fund | 0.48% | 6 | -20% |
| Mahindra Manulife Equity Savings Fund(Q | 0.34% | 2 | -14% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | -17% |
| Kotak Multi Cap Fund | 0.00% | 0 | -100% |
Red flags
F-score 7 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,980 Cr +46.0% vs Jun 2025.
Net profit ₹18 Cr +38.5%.
Against our estimate for Jun 2026: sales +24.9%, profit -69.6% miss. Our estimate for Sep 2026: sales Rs 2,227 Cr, profit Rs 83 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Larsen & Toubro Ltd | 515,837 | 29.3 | 14.6 % |
| Rail Vikas Nigam Ltd | 41,263 | 45.9 | 10.8 % |
| Kalpataru Projects International Ltd | 23,312 | 21.0 | 18.3 % |
| NBCC (India) Ltd | 21,063 | 30.8 | 29.3 % |
| Cemindia Projects Ltd | 21,015 | 34.9 | 32.8 % |
| IRB Infrastructure Developers Ltd | 20,508 | 20.8 | 7.47 % |
| Engineers India Ltd | 17,435 | 22.2 | 30.4 % |
| Central Mine Planning & Design Institute Ltd | 15,217 | 23.3 | 38.1 % |
| Techno Electric & Engineering Company Ltd | 11,748 | 22.8 | 15.2 % |
| Welspun Enterprises Ltd | 10,302 | 29.1 | 16.7 % |
| KEC International Ltd | 10,072 | 16.8 | 16.5 % |
| Ircon International Ltd | 9,637 | 18.4 | 9.27 % |
| Rites Ltd | 9,242 | 22.1 | 23.0 % |
| Afcons Infrastructure Ltd | 9,014 | 44.0 | 13.9 % |
| NCC Ltd | 8,053 | 11.2 | 16.8 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-21 | Dividend - Rs 6 Per Share | |
| 2025-09-08 | Dividend - Rs 5 Per Share | |
| 2024-08-21 | Dividend - Rs 4 Per Share | |
| 2024-08-21 | Annual General Meeting | |
| 2023-08-14 | Dividend - Rs 3 Per Share | |
| 2023-08-14 | Annual General Meeting | |
| 2022-08-12 | Annual General Meeting/Dividend - Rs 2 Per Share | |
| 2021-09-08 | Annual General Meeting/Dividend - Re 1 Per Share |
| Date | Type | What it says |
|---|---|---|
| 2026-10-01 | Appointment | Appointment of Ms. Mahua Chakrabarty as Chief Human Resources Officer (Senior Management Personnel) of the Company w.e.f. October 01, 2026. |
| 2026-09-30 | General Updates | ESG rating by Crisil ESG Ratings and Analytics Limited |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of ISGEC Heavy Engineering Ltd?
ISGEC Heavy Engineering Ltd (ISGEC) has a market capitalisation of Rs 6,471 Cr. at the 2026-10-01 close.
What is the P/E ratio of ISGEC Heavy Engineering Ltd?
ISGEC Heavy Engineering Ltd trades at a P/E of 24.8 on trailing twelve-month profit, at the 2026-10-01 close.
What were ISGEC Heavy Engineering Ltd's latest quarterly results?
In the Jun 2026 quarter, ISGEC Heavy Engineering Ltd sales was Rs 1,980 Cr (+46.0% vs Jun 2025) and net profit was Rs 18 Cr.
What is the 52-week high and low of ISGEC Heavy Engineering Ltd?
The 52-week high is Rs 1,113.90 and the 52-week low is Rs 683.95.