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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.
June 2017 quarter results
Sales for the quarter ended June 2017 slumped 26% to Rs 494.44 crore. OPM fell 380 basis points from 8.9% to 5.1% which saw OP fall 58% to Rs 25.14 crore.
Raw material cost grew 22% to Rs 120.65 crore. As a % to sales it soared from 14.8% to 24.4%. Erection and commissioning expenses grew 145% to Rs 125.99 crore. As a % to sales it soared from 7.7% to 25.5%.
Other income fell 13% to Rs 17.92 crore. As interest cost fell 62% to Rs 1.97 crore and depreciation grew 3% to Rs 15.89 crore, PBT went down 58% to Rs 25.20 crore.
Provision for taxation was down 53% to Rs 8.28 crore. Finally PAT crashed 60% to Rs 16.92 crore.
FY 2017 results
In FY 2017 sales fell 21% to Rs 3110.99 crore. OPM grew 60 basis points to 8.3% which saw OP fall 15% to Rs 259.05 crore. PBT fell 5% to Rs 267.66 crore and PAT fell 1% to Rs 188.63 crore.
Valuation
The share price trades at Rs 5850.
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