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Consolidated net sales (including other operating income) of ISGEC Heavy Engineering for the quarter ended Jun 2023 has increased 11.15% to Rs 1385.76 crore. Operating profit margin has jumped from 5.76% to 7.47%, leading to 44.27% rise in operating profit to Rs 103.54 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 31.09% to 28.27%. Purchase of finished goods cost rose from 28.29% to 30.44%. Employee cost increased from 8.37% to 8.40%. Other expenses fell from 26.89% to 25.79%. Other direct service cost fell from 12.47% to 11.95%. Other income rose 267.89% to Rs 13.06 crore. PBIDT rose 54.81% to Rs 116.6 crore. Provision for interest fell 2.97% to Rs 19.25 crore. PBDT rose 75.47% to Rs 97.35 crore. Provision for depreciation fell 1.45% to Rs 25.1 crore. Profit before tax grew 140.75% to Rs 72.25 crore. Provision for tax was expense of Rs 19.73 crore, compared to Rs 11.97 crore. Effective tax rate was 27.30% compared to 39.90%. Minority interest increased 835% to Rs 1.87 crore. Net profit attributable to owners of the company increased 184.13% to Rs 50.66 crore. - Sales of Mfg of Machinery & Equipment segment has gone up 21.08% to Rs 398.05 crore (accounting for 26.75% of total sales). Sales of Engineering Procurement & Construct segment has gone up 16.38% to Rs 846.53 crore (accounting for 56.90% of total sales). Sales of Sugar segment fell 12.06% to Rs 189.08 crore (accounting for 12.71% of total sales). Sales of Plant Under Construction segment has gone down 57.63% to Rs 0.25 crore (accounting for 0.02% of total sales). Sales of Ethanol segment has gone up 1.70% to Rs 53.97 crore (accounting for 3.63% of total sales). Inter-segment sales rose Rs 79.34 crore to Rs 101.58 crore.
- Profit before interest, tax and other unallocable items (PBIT) has jumped 71.69% to Rs 94.79 crore. PBIT of Mfg of Machinery & Equipment segment rose 190.49% to Rs 39.39 crore (accounting for 41.56% of total PBIT). PBIT of Engineering Procurement & Construct segment fell 15.24% to Rs 33.48 crore (accounting for 35.32% of total PBIT). PBIT of Sugar segment rose 30.93% to Rs 27.43 crore (accounting for 28.94% of total PBIT). PBIT of Plant Under Construction segment rose 75.72% to Rs -5.51 crore (accounting for -5.81% of total PBIT).
- PBIT margin of Mfg of Machinery & Equipment segment rose from 4.12% to 9.90%. PBIT margin of Engineering Procurement & Construct segment fell from 5.43% to 3.95%. PBIT margin of Sugar segment rose from 9.74% to 14.51%. PBIT margin of Plant Under Construction segment rose from negative 3,845.76% to negative 2,204.00%. Overall PBIT margin rose from 4.17% to 6.37%.
Standalone net sales (including other operating income) of ISGEC Heavy Engineering for the quarter ended Jun 2023 has increased 13.85% to Rs 1,130.54 crore. Operating profit margin has jumped from 5.72% to 6.77%, leading to 34.87% rise in operating profit to Rs 76.58 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 20.84% to 20.13%. Purchase of finished goods cost rose from 36.08% to 37.87%. Employee cost decreased from 7.91% to 7.51%. Other expenses fell from 29.74% to 28.17%. Other direct service cost fell from 15.96% to 14.31%. Other income up 400% to Rs 27.5 crore. PBIDT rose 67.12% to Rs 104.08 crore. Provision for interest up 54.85% to Rs 10.7 crore. PBDT rose 68.65% to Rs 93.38 crore. Provision for depreciation rose 1.30% to Rs 15.56 crore. Profit before tax grew 94.50% to Rs 77.82 crore. Provision for tax was expense of Rs 14.08 crore, compared to Rs 9.92 crore. Effective tax rate was 18.09% compared to 24.79%. Profit after tax rose 111.83% to Rs 63.74 crore. - Sales of Manufacutring of Machinery & Equipment segment has gone up 13.91% to Rs 336.00 crore (accounting for 28.57% of total sales). Sales of Engineering, Procurement & Construc segment has gone up 14.01% to Rs 840.26 crore (accounting for 71.43% of total sales). Inter-segment sales rose Rs 40.21 crore to Rs 45.18 crore.
- Profit before interest, tax and other unallocable items (PBIT) has jumped 45.91% to Rs 71.99 crore. PBIT of Manufacutring of Machinery & Equipment segment rose 230.36% to Rs 39.28 crore (accounting for 54.56% of total PBIT). PBIT of Engineering, Procurement & Construc segment fell 12.66% to Rs 32.71 crore (accounting for 45.44% of total PBIT).
- PBIT margin of Manufacutring of Machinery & Equipment segment rose from 4.03% to 11.69%. PBIT margin of Engineering, Procurement & Construc segment fell from 5.08% to 3.89%. Overall PBIT margin rose from 4.78% to 6.12%.
Order backlog as end of Jun 30, 2023 sttood at Rs 8411 crore compared to Rs 8321 crore as end of Mar 2023.
Order intake in Q1FY24 was down at Rs 11,52 crore compared to Rs 12,21 crore in corresponding previous periodl Promoters’ stake was 62.43% as of 30 June 2023 ,compared to 62.43% as of 30 June 2022 .
| ISGEC Heavy Engineering : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 1,385.76 | 1,246.71 | 11.15 | 6,399.04 | 5,499.34 | 16.36 | | OPM (%) | 7.47 | 5.76 | 171 bps | 7.10 | 5.66 | 144 bps | | OP | 103.54 | 71.77 | 44.27 | 454.61 | 311.36 | 46.01 | | Other Inc. | 13.06 | 3.55 | 267.89 | 12.67 | 13.24 | -4.31 | | PBIDT | 116.60 | 75.32 | 54.81 | 467.28 | 324.60 | 43.96 | | Interest | 19.25 | 19.84 | -2.97 | 72.99 | 65.16 | 12.02 | | PBDT | 97.35 | 55.48 | 75.47 | 394.29 | 259.44 | 51.98 | | Depreciation | 25.1 | 25.47 | -1.45 | 104.3 | 101.36 | 2.90 | | PBT | 72.25 | 30.01 | 140.75 | 289.99 | 158.08 | 83.45 | | Share of Profit/(Loss) from Associates | 0.01 | -0.01 | LP | 0.04 | 0.02 | 100.00 | | PBT before EO | 72.26 | 30 | 140.87 | 290.03 | 158.1 | 83.45 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 72.26 | 30 | 140.87 | 290.03 | 158.1 | 83.45 | | Taxation | 19.73 | 11.97 | 64.83 | 84.49 | 43.11 | 95.99 | | PAT | 52.53 | 18.03 | 191.35 | 205.54 | 114.99 | 78.75 | | Minority Interest (MI) | 1.87 | 0.2 | 835.00 | 9.05 | 6.17 | 46.68 | | Net profit | 50.66 | 17.83 | 184.13 | 196.49 | 108.82 | 80.56 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 50.66 | 17.83 | 184.13 | 196.49 | 108.82 | 80.56 | | EPS (Rs)* | 6.89 | 2.42 | 184.13 | 26.72 | 14.80 | 80.56 | | | * EPS is on current equity of Rs 7.35 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| ISGEC Heavy Engineering : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202306 | 202206 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
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| Sales | | Mfg of Machinery & Equipment | 26.75 | 398.05 | 328.75 | 21.08 | 33.69 | 2,290.72 | 1,698.24 | 34.89 | | Engineering Procurement & Construct | 56.90 | 846.53 | 727.39 | 16.38 | 49.88 | 3,391.87 | 3,401.19 | -0.27 | | Sugar | 12.71 | 189.08 | 215.00 | -12.06 | 13.21 | 898.62 | 675.38 | 33.05 | | Plant Under Construction | 0.02 | 0.25 | 0.59 | -57.63 | 0.02 | 1.22 | -20.71 | LP | | Ethanol | 3.63 | 53.97 | 53.07 | 1.70 | 3.21 | 217.96 | 2.26 | 9,544.25 | | Total Reported Sales | 100.00 | 1,487.88 | 1,324.80 | 12.31 | 100.00 | 6,800.39 | 5,756.36 | 18.14 | | Less: Inter segment revenues | | 101.58 | 79.34 | 28.03 | | 408.00 | 310.86 | 31.25 | | Net Sales | 100.00 | 1,386.30 | 1,245.46 | 11.31 | 100.00 | 6,392.39 | 5,445.50 | 17.39 | | PBIT | | Mfg of Machinery & Equipment | 41.56 | 39.39 | 13.56 | 190.49 | 42.57 | 158.65 | 116.65 | 36.01 | | Engineering Procurement & Construct | 35.32 | 33.48 | 39.50 | -15.24 | 39.69 | 147.94 | 99.49 | 48.70 | | Sugar | 28.94 | 27.43 | 20.95 | 30.93 | 25.45 | 94.84 | 68.94 | 37.57 | | Plant Under Construction | -5.81 | -5.51 | -22.69 | 75.72 | -9.80 | -36.51 | -40.89 | 10.71 | | Ethanol | 0.00 | 0.00 | 3.89 | - | 2.09 | 7.78 | -2.05 | LP | | Total PBIT | 100.00 | 94.79 | 55.21 | 71.69 | 100.00 | 372.70 | 242.14 | 53.92 | | Less : Interest | | 18.54 | 18.91 | -1.96 | | 68.21 | 58.88 | 15.85 | | Add: Other un-allcoable | | -3.99 | -6.30 | 36.67 | | -14.46 | -25.16 | 42.53 | | PBIT Margin(%) | | Mfg of Machinery & Equipment | | 9.90 | 4.12 | 577.10 | | 6.93 | 6.87 | 5.69 | | Engineering Procurement & Construct | | 3.95 | 5.43 | -147.54 | | 4.36 | 2.93 | 143.65 | | Sugar | | 14.51 | 9.74 | 476.29 | | 10.55 | 10.21 | 34.64 | | Plant Under Construction | | -2,204.00 | -3,845.76 | 1,64,176.27 | | -2,992.62 | 197.44 | -3,19,006.38 | | Ethanol | | 0.00 | 7.33 | -732.99 | | 3.57 | -90.71 | 9,427.74 | | PBT | 100.00 | 72.26 | 30.00 | 140.87 | 100.00 | 290.03 | 158.10 | 83.45 |
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| ISGEC Heavy Engineering : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 1,130.54 | 993.03 | 13.85 | 4,651.92 | 4,444.46 | 4.67 | | OPM (%) | 6.77 | 5.72 | 106 bps | 6.44 | 4.70 | 173 bps | | OP | 76.58 | 56.78 | 34.87 | 299.53 | 209.07 | 43.27 | | Other Inc. | 27.50 | 5.50 | 400.00 | 34.99 | 26.04 | 34.37 | | PBIDT | 104.08 | 62.28 | 67.12 | 334.52 | 235.11 | 42.28 | | Interest | 10.7 | 6.91 | 54.85 | 37.01 | 22.66 | 63.33 | | PBDT | 93.38 | 55.37 | 68.65 | 297.51 | 212.45 | 40.04 | | Depreciation | 15.56 | 15.36 | 1.30 | 63.11 | 65.39 | -3.49 | | PBT | 77.82 | 40.01 | 94.50 | 234.4 | 147.06 | 59.39 | | PBT before EO | 77.82 | 40.01 | 94.50 | 234.4 | 147.06 | 59.39 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 77.82 | 40.01 | 94.50 | 234.4 | 147.06 | 59.39 | | Taxation | 14.08 | 9.92 | 41.94 | 56.47 | 34.24 | 64.92 | | PAT | 63.74 | 30.09 | 111.83 | 177.93 | 112.82 | 57.71 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 63.74 | 30.09 | 111.83 | 177.93 | 112.82 | 57.71 | | EPS (Rs)* | 8.67 | 4.09 | 111.83 | 24.20 | 15.34 | 57.71 | | | * EPS is on current equity of Rs 7.35 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| ISGEC Heavy Engineering : Standalone Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202306 | 202206 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
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| Sales | | Manufacutring of Machinery & Equipment | 28.57 | 336.00 | 294.98 | 13.91 | 31.30 | 1,534.32 | 1,295.34 | 18.45 | | Engineering, Procurement & Construc | 71.43 | 840.26 | 737.01 | 14.01 | 68.70 | 3,367.83 | 3,361.49 | 0.19 | | Total Reported Sales | 100.00 | 1,176.26 | 1,031.99 | 13.98 | 100.00 | 4,902.15 | 4,656.83 | 5.27 | | Less: Inter segment revenues | | 45.18 | 40.21 | 12.36 | | 0.00 | 214.62 | - | | Net Sales | 100.00 | 1,131.08 | 991.78 | 14.05 | 100.00 | 4,902.15 | 4,442.21 | 10.35 | | PBIT | | Manufacutring of Machinery & Equipment | 54.56 | 39.28 | 11.89 | 230.36 | 48.69 | 135.68 | 112.29 | 20.83 | | Engineering, Procurement & Construc | 45.44 | 32.71 | 37.45 | -12.66 | 51.31 | 142.97 | 63.54 | 125.01 | | Total PBIT | 100.00 | 71.99 | 49.34 | 45.91 | 100.00 | 278.65 | 175.83 | 58.48 | | Less : Interest | | 10.27 | 6.34 | 61.99 | | 34.63 | 20.76 | 66.81 | | Add: Other un-allcoable | | 16.10 | -2.99 | LP | | -9.62 | -8.01 | -20.10 | | PBIT Margin(%) | | Manufacutring of Machinery & Equipment | | 11.69 | 4.03 | 765.97 | | 8.84 | 8.67 | 17.42 | | Engineering, Procurement & Construc | | 3.89 | 5.08 | -118.85 | | 4.25 | 1.89 | 235.49 | | PBT | 100.00 | 77.82 | 40.01 | 94.50 | 100.00 | 234.40 | 147.06 | 59.39 |
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