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Isgec Heavy Engineering has a history of 80 years and is a diversified heavy engineering company with interests in Process Equipment, EPC Power Plants, Boilers, Sugar Plants & Machinery, Mechanical & Hydraulic Presses, Castings, Contract Manufacturing, and Trading.
In FY 2011 the company changed its name from Saraswati Industrial Syndicate Ltd. to Isgec Heavy Engineering Ltd. All businesses were consolidated and now marketed under a common brand name – Isgec.
December 2016 quarter results
Sales for the quarter ended December 2016 slumped 27% to Rs 744.27 crore. OPM grew 310 basis points from 6.6% to 9.7% which saw OP grow 6% to Rs 72.00 crore.
Other income jumped 38% to Rs 18.62 crore. As interest cost fell 18% to Rs 3.93 crore and depreciation grew 4% to Rs 16.10 crore, PBT went up 16% to Rs 70.59 crore.
Provision for taxation was up 13% to Rs 23.76 crore. Finally PAT grew 17% to Rs 46.83 crore.
Nine months results
Sales for the nine months ended December 2016 fell 22% to Rs 2176.36 crore. OPM grew 120 basis points from 7.8% to 9.0% which saw OP fall 10% to Rs 196.58 crore.
Other income jumped 47% to Rs 64.08 crore. As interest cost fell 12% to Rs 13.85 crore and depreciation fell 2% to Rs 47.21 crore, PBT stagnated at Rs 199.60 crore.
Provision for taxation was almost unchanged at Rs 66.260 crore. Finally PAT stood at Rs 133.34 crore against Rs 132.84 crore.
Valuation
The share price trades at Rs 5315.
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