Isgec Heavy Engineering logo

Isgec Heavy Engineering share price

NSE: ISGECBSE: 533033ConstructionSmall Cap

Isgec Heavy Engineering Limited · Face value ₹1 · Listed Dec 2008 on BSE, May 2021 on NSE
Last close ₹919.65up ₹1.50 (0.16%)BSE ₹919.55

Share price at the NSE close on 30 Oct 2026. Previous close ₹918.15.

30 Oct: open ₹919.20, high ₹931.75, low ₹901.00

52-week range of traded prices to 30 Oct 2026
₹683.95Low, 27 Jan 2026₹1,113.90High, 21 May 2026
Market cap
₹6,762 Cr690th largest listed
P/E
Earlier quarters restated in the year
P/B
2.47
Dividend yield
0.65%
ROCE
11.4%
Debt to equity
0.32
Volume, NSE
40,76059.6% delivered

Isgec Heavy Engineering share price chart

Daily closes since Mar 2019, BSE closes Dec 2008 to May 2021, adjusted for splits and bonuses. Earlier closes are left out: on 28 Mar 2019 the price changed in a way no corporate action on record explains.

+5.1%over a year · BSE Industrials −1.7% · Nifty 500 −8.2%

Results20-session average 67,900 shares a day, 52.4% delivered

About Isgec Heavy Engineering

Isgec Heavy Engineering Limited is a heavy engineering company that makes machinery and equipment, carries out large industrial projects, and produces sugar and ethanol.1 It sells machinery, equipment and project solutions to industries such as power generation, oil and gas, petrochemicals, automotive, fertilizers, steel and cement, in India and abroad.2 Its registered office is in Yamunanagar, Haryana.3

Its manufacturing business makes presses, process plant equipment, liquefied gas containers, boiler pressure parts and iron and steel castings, and its industrial projects business builds boilers, sugar plants and distilleries, emission control systems and bulk material handling systems.4 Saraswati Sugar Mills and Eagle Press & Equipment are wholly owned subsidiaries: Saraswati Sugar Mills makes refined sugar and ethanol in Yamunanagar, and Eagle Press makes mechanical presses in Windsor, Canada.5 Isgec Hitachi Zosen, a joint venture with Hitachi Zosen Corporation of Japan formed in 2012, makes critical and heavy process plant equipment at Dahej.67 It manufactures in Haryana, Uttar Pradesh and Gujarat in India, and through subsidiaries in Windsor, Canada and Cavite, Philippines.89

It was incorporated in 1933 and began making engineering goods in 1946.110 Its products and solutions have been supplied across 99 countries on 6 continents.1 Ranjit Puri and his son Aditya Puri are its promoters, and promoters held 62.43% of the shares at the end of Mar 2026.1112

Isgec Heavy Engineering key points

Results

  • Consolidated total income for the quarter to Jun 2026 was ₹1,993 crore, about 45% higher than ₹1,374 crore a year earlier. EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹137 crore, almost the same as a year earlier.13
  • Consolidated profit before tax for the quarter to Jun 2026 was ₹53 crore, 18% higher than the ₹45 crore restated for the quarter to Jun 2025.14
  • Consolidated revenue from operations for the year to Mar 2026 was ₹6,78,926 lakh, up 5.7%, and total income, which includes other income, was ₹6,92,228 lakh, up 7.1%.15
  • Consolidated EBITDA for the year to Mar 2026 was ₹67,134 lakh (9.7% margin), against ₹56,612 lakh a year earlier (8.8% margin). Profit after tax was ₹15,404 lakh (2.2% margin), against ₹20,439 lakh (3.2% margin).16

Business segments

  • Segment revenue, consolidated (Philippines ethanol plant not included)17
    Itemyear to Mar 2026year to Mar 2025
    Manufacturing of Machinery & Equipment₹2,76,460 lakh₹2,50,030 lakh
    Industrial Projects₹3,70,210 lakh₹3,48,740 lakh
    Sugar & Ethanol (India)₹88,360 lakh₹88,400 lakh
  • EBIT margin by segment (EBIT is earnings before interest and tax)17
    Itemyear to Mar 2026year to Mar 2025
    Manufacturing of Machinery & Equipment13.8%11.7%
    Industrial Projects4.7%4.6%
    Sugar & Ethanol (India)4.5%8.8%
  • The sugar and ethanol segment's EBIT margin fell by 430 basis points (hundredths of a percentage point), mainly because sugarcane crushing was 92 lakh quintals against 140 lakh quintals a year earlier, after excessive rainfall and a smaller crop area in Haryana.18

Where revenue comes from

  • International revenue was 23% of consolidated revenue (₹1,59,520 lakh) in the year to Mar 2026, against 14% (₹88,590 lakh) a year earlier.19
  • On a standalone basis, export revenue for the quarter to Jun 2026 was ₹385 crore, about 25% of total revenue, against 15% a year earlier.20

Philippines ethanol plant

  • Cavite Biofuel Producers, the group's ethanol plant in the Philippines, started commercial production for the sugar season on 17 Dec 2025, using sugarcane as feedstock (raw material), and ended sugarcane crushing on 20 Apr 2026. Since then it has run on molasses.2122
  • The Philippines ethanol segment made a loss of ₹83 crore in the quarter to Jun 2026, mainly ₹37 crore of depreciation, ₹20 crore of interest and about ₹10 crore of foreign exchange fluctuation.23
  • A planned sale of the Philippines business did not go through as the buyer could not pay. Consolidated profit after tax for the year to Mar 2026 includes a one-time depreciation catch-up of about ₹17,000.0 lakh on it.2425

Order book

  • Consolidated orders in hand (the order book: orders received but not yet delivered) were ₹8,958 crore at the end of Jun 2026.26
  • On a standalone basis, order booking for the quarter to Jun 2026 was ₹2,323 crore, and orders in hand at the end of Jun 2026 were ₹7,727 crore.27

What the company expects

  • On its earnings call of 12 Aug 2026, the company said it expects standalone revenue for the year to Mar 2027 to increase by 10% to 12%.28
  • On its earnings call of 12 Aug 2026, the company said it expects standalone EBIT margins of 12% to 13% in manufacturing and slightly better margins within 5% to 6% in projects.2930
  • On its earnings call of 12 Aug 2026, the company said its board had approved ₹502 crore for manufacturing capacity additions, which could add about ₹1,200 crore of revenue a year when fully complete, with the full benefit largely from the year to Mar 2029.31
  • On its earnings call of 12 Aug 2026, the company said it created a new division, Global Industrial Services and Solutions, for operations and maintenance, retrofit, spares and digitization, and hopes to double its existing operations and maintenance base in 2 years.3233

Recent events

  • On 25 Jun 2026 the company sold 25% of SFW Isgec Energy Private Limited's paid-up share capital to its joint venture partner Sumitomo SHI FW Energia Oy, cutting its holding from 51% to 26% and making it an associate company, no longer a subsidiary.3435

Litigation and regulatory matters

  • In its filing of 10 Apr 2026, the company said the Commission for Air Quality Management had permitted full operations at the Muzaffarnagar unit, which it ordered closed in May 2025 and which the National Green Tribunal let resume, with conditions, on 30 May 2025.3637
  • As of its exchange filing of 21 May 2026, the Commissioner of Customs (NS-V), Maharashtra, had demanded customs duty of ₹2,76,66,845 with interest and imposed a penalty of ₹2,76,66,845; the company said it shall file an appeal.38
  • As of its exchange filing of 27 Mar 2026, Saraswati Sugar Mills, a wholly owned subsidiary, had received an income tax order dated 25 Mar 2026 involving a demand of ₹18.80 crore, and said it was filing an appeal.3940

Last updated

All 40 sources, each with its page
  1. 1. Annual report, 3 Sep 2026, page 44
  2. 2. Annual report, 3 Sep 2026, page 95
  3. 3. Annual report, 3 Sep 2026, page 17
  4. 4. Annual report, 3 Sep 2026, page 44
  5. 5. Investor presentation, 12 Aug 2026, page 29
  6. 6. Annual report, 3 Sep 2026, page 4
  7. 7. Investor presentation, 12 Aug 2026, page 29
  8. 8. Annual report, 3 Sep 2026, page 7
  9. 9. Investor presentation, 12 Aug 2026, page 11
  10. 10. Annual report, 3 Sep 2026, page 4
  11. 11. Annual report, 3 Sep 2026, page 67
  12. 12. Annual report, 3 Sep 2026, page 80
  13. 13. Earnings call, 12 Aug 2026, page 4
  14. 14. Earnings call, 12 Aug 2026, page 4
  15. 15. Annual report, 3 Sep 2026, page 47
  16. 16. Annual report, 3 Sep 2026, page 47
  17. 17. Annual report, 3 Sep 2026, page 48
  18. 18. Annual report, 3 Sep 2026, page 48
  19. 19. Annual report, 3 Sep 2026, page 47
  20. 20. Earnings call, 12 Aug 2026, page 3
  21. 21. Earnings call, 12 Aug 2026, page 4
  22. 22. Annual report, 3 Sep 2026, page 56
  23. 23. Earnings call, 12 Aug 2026, page 5
  24. 24. Annual report, 3 Sep 2026, page 57
  25. 25. Annual report, 3 Sep 2026, page 10
  26. 26. Earnings call, 12 Aug 2026, page 4
  27. 27. Earnings call, 12 Aug 2026, page 3
  28. 28. Earnings call, 12 Aug 2026, page 5
  29. 29. Earnings call, 12 Aug 2026, page 5
  30. 30. Earnings call, 12 Aug 2026, page 3
  31. 31. Earnings call, 12 Aug 2026, page 8
  32. 32. Earnings call, 12 Aug 2026, page 5
  33. 33. Earnings call, 12 Aug 2026, page 16
  34. 34. Exchange filing, 25 Jun 2026, page 1
  35. 35. Annual report, 3 Sep 2026, page 56
  36. 36. Exchange filing, 10 Apr 2026, page 1
  37. 37. Exchange filing, 10 Apr 2026, page 3
  38. 38. Exchange filing, 21 May 2026, page 1
  39. 39. Exchange filing, 27 Mar 2026, page 1
  40. 40. Exchange filing, 27 Mar 2026, page 2

Results

Consolidated; ₹ crore.Isgec Heavy Engineering quarterly results

Revenue growth, 12 months
+19.8%
Net profit growth, 12 months
–

Quarter to Jun 2026, against the quarter before

Revenue
₹1,980 Crdown 3.33%
Net profit
₹18 Crdown 79.40%
Net margin
0.9%

Revenue by quarter

₹1,644 CrSep 24₹1,497 CrDec 24₹1,744 CrMar 25₹1,341 CrJun 25₹1,691 CrSep 25₹1,739 CrDec 25₹2,048 CrMar 26₹1,980 CrJun 26

Net profit by quarter, a loss in red

₹96 CrSep 24₹23 CrDec 24₹78 CrMar 25₹59 CrJun 25₹56 CrSep 25₹84 CrDec 25₹85 CrMar 26₹18 CrJun 26

The quarters either side of a change of basis do not compare. From the quarter to Mar 2025, the company reports a discontinued business.

₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,6441,4971,7441,3411,6911,7392,0481,980
Net profit9623785956848518
Net margin5.8%1.5%–4.4%––4.1%0.9%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share. Net margin is left blank for Mar 2025, Sep 2025 and Dec 2025: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Industrial Projects₹3,702 Crup 6.16%50.4%
  • Manufacturing of Machinery & Equipment₹2,765 Crup 10.57%37.6%
  • Sugar₹688 Crup 1.59%9.4%
  • Ethanol₹196 Crdown 5.43%2.7%
  • Ethanol Plant at Philippines₹2 Cr0.0%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Not shown, P/E: a results filing in the last twelve months restated the quarters before it inside its year to date, so the four quarters as the company reported them do not add to a twelve-month profit; the ratio returns once the trailing year no longer holds a quarter from before the restatement. Its history crosses a change of basis in the accounts in the year to Mar 2025: days before it are of the company before the change.Isgec Heavy Engineering PE ratio and valuation

Price to book

At or below today's level on 63% of 1,925 trading days since Nov 2018.

LowestHighest
Its median2.26Industry median1.37
Dividend yield

At or below today's level on 98% of 2,442 trading days over the last 10 years.

LowestHighest
Its median0.14%Industry median0.67%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−17.2%−56.3%+88.0%0.7%
3 years+26.0%−17.9%+52.8%0.5%
5 years+12.1%−15.2%+31.5%0.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2025 and Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Isgec Heavy Engineering shareholding pattern

Shareholding by group

  • Promoters62.43%
  • Foreign institutions3.86%
  • Indian institutions9.98%
  • Governments0.01%
  • Individuals and others23.72%
Holder
THE YAMUNA SYNDICATE LTDPromoter45.00%
RANJIT PURIPromoter8.97%
ADITYA PURIPromoter6.21%
N. A. COLD STORAGES PVT. LTD.Promoter2.04%
SHRI PARASRAM HOLDINGS PRIVATE LIMITEDCompanies1.21%
NINA PURIPromoter0.22%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions +0.10 pts, Indian institutions −0.25 pts, mutual funds −0.68 pts.

Mutual fund holdings

11 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 1 of the 4 funds that added or cut is an index fund, an ETF or an arbitrage fund: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 11 funds holding Isgec Heavy Engineering

Bought for the first time
1
Added
3
Cut
1
Held unchanged
6
Sold out
1
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Isgec Heavy Engineering competitors and peers

Civil Construction, 170 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Isgec Heavy Engineering in market cap.Construction companies

Isgec Heavy Engineering is not on the chart: it has no P/E or return on equity today

Return on equity across, P/E up, size is market cap
Company
G R Infraprojects logoG R InfraprojectsGRINFRA7,3047.170.78+25.1%−7.7%11.4%11.7%0.33%
NCC logoNCCNCC7,18910.280.91−1.8%−12.8%9.2%14.6%1.92%
Power Mech Projects logoPower Mech ProjectsPOWERMECH6,83917.482.72+15.8%–16.7%19.1%0.07%
Ceigall India logoCeigall IndiaCEIGALL6,79721.243.18+20.3%–16.1%16.2%0.13%
Dilip Buildcon logoDilip BuildconDBL6,105–0.89−18.8%––9.2%0.27%
Hindustan Construction Company logoHindustan Construction CompanyHCC4,49027.072.11−20.6%0.0%10.9%14.9%0.00%
LCC ProjectsLCCPROJECT3,812–3.01––––0.00%
Ahluwalia Contracts (India) logoAhluwalia Contracts (India)AHLUCONT3,53515.711.72+12.0%+1.0%11.7%13.9%0.13%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Isgec Heavy Engineering dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 17Mar 18Mar 19Mar 201Mar 212Mar 223Mar 234Mar 245Mar 256Mar 26
Highest ₹6.00 a share, year to Mar 2026.
Ex-dateTypePer share
21 Sep 2026Final₹6.00
8 Sep 2025Final₹5.00
21 Aug 2024Final₹4.00
14 Aug 2023Final₹3.00
12 Aug 2022Final₹2.00
8 Sep 2021Final₹1.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Isgec Heavy Engineering announcements

Isgec Heavy Engineering share price by year

Each calendar year to 2025.Isgec Heavy Engineering share price history

YearClose at year endChangeHighest closeLowest close
2025911.45−36.8%1,486.90756.35
20241,442.55+47.0%1,610.35822.95
2023981.40+105.0%981.40422.50
2022478.80−21.2%693.45441.35
2021BSE close607.70+84.2%854.75339.70
2020BSE close329.95−4.8%411.40209.20
2019BSE close346.70–605.00312.95
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2019 is from its first session, 28 Mar 2019.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 2026902.00925.00900.60918.15913.8422,30948.1%
28 Oct 2026914.20922.50897.15901.20902.2540,59769.1%
27 Oct 2026889.00920.65883.30914.40912.1829,67349.8%
26 Oct 2026870.00899.10850.50887.25879.1630,94955.9%
23 Oct 2026890.05890.05849.90869.95865.3152,69248.6%
22 Oct 2026880.00902.40873.80890.05888.9044,85951.6%
21 Oct 2026899.75904.25885.75896.40898.1477,71755.0%
19 Oct 2026902.00911.65876.20899.75899.9269,85757.2%
16 Oct 2026914.00914.00895.00899.75902.3727,78953.2%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Buyback history

Ex-dateEventPrice factorWhat happened
28 Mar 2019Price move–Between two trading sessions the price fell 47% or more, or rose 90% or more. No corporate action is on record. Earlier prices are not shown.
Where an event has no factor that can be worked out, the chart leaves out the closes before it.

Company details

Chairperson
Ranjit Puri
At the end of the quarter to Jun 2026
Managing director
Aditya Puri
At the end of the quarter to Jun 2026
NSE symbol
ISGEC
BSE code
533033
ISIN
INE858B01029
Industry
Construction
CIN
L23423HR1933PLC000097
Corporate identity number, the registrar of companies' code for it
Incorporated
1933
Registered office
Radaur Road, Yamuna Nagar 135001, Haryana
Share registrar
Alankit Assignments Ltd
Keeps the register of shareholders and handles transfers and dividend payments