Company Overview

Isgec Heavy Engineering Limited is a diversified heavy engineering company with 93+ years of operations since its incorporation in 1933. The company operates across three main segments: Manufacturing of Machinery & Equipment, Industrial Projects, and Sugar & Ethanol. The company has a global reach with clients across 99 countries and 6 continents. Sugar and Ethanol contributed 13% to Consolidated Revenue in FY26, with Engineering Products and Projects contributing the remaining 87%.

Manufacturing Facilities

The company operates multiple manufacturing facilities across India:

  • Yamunanagar, Haryana: Pressure Vessels & Heat Exchangers, Presses– Mechanical & Hydraulic, Boilers, Container, Castings, Sugar and other Industrial Machinery
  • Rattangarh, Haryana: Boiler Pressure Parts, Process Skids & Modules, Prefabricated Piping Spools
  • Bawal, Haryana: Standard Mechanical Presses and other Industrial Machinery
  • Muzaffarnagar, Uttar Pradesh: Castings - Steel & Iron
  • Dahej, Gujarat: Pressure Vessels, Columns, Heat Exchangers
  • Dahej SEZ, Gujarat: Process Equipment (Under Construction)
  • Saraswati Sugar Mills (Wholly Owned Subsidiary), Yamunanagar: Sugar Manufacturing & Ethanol Distillery
  • Bhartauli, Haryana: Machine Building, Castings, & other Industrial Machinery — Under Construction
  • Damla, Haryana: Fabrication of Piping Spools
  • Aurangabad, Haryana: Fabrication of Piping Spools

Overseas facilities include:

  • Eagle Press & Equipment Co. Ltd., Windsor, Canada
  • Cavite Biofuel Producers Inc., Philippines (ethanol plant)

Performance Highlights Q1 FY27 (Consolidated)

  • Total Income Growth: 45% YoY
  • PAT Growth: 31% YoY

Order Book Position

As of June 30, 2026, the company maintained a consolidated order book of ₹89,580 million, which is described as comfortably placed to counter the cyclicality of any specific industry.

Corporate Structure

The company has subsidiaries, joint ventures and associates including technology partnerships with leading global companies. Specific JVs mentioned include:

  • JV with Sumitomo SHI FW Energia, Finland for detailed design and engineering of boilers
  • JV with TITAN Metal Fabricators, USA for manufacturing process plant equipment
  • JV with Redecam, Italy for bag filters & non-fossil fuel ESPs
  • JV with Hitachi Zosen, Japan to manufacture critical process equipment

Board of Directors

The presentation lists the distinguished board including:

  • Mr. Ranjit Puri (Chairman)
  • Mr. Aditya Puri (Managing Director)
  • Mr. Kishore Chatnani (Joint Managing Director and Chief Financial Officer)
  • Mr. Sanjay Gulati (Joint Managing Director and Head – Manufacturing Units)
  • Mr. Arvind Sagar (Independent Director)
  • Mrs. Rashi Sikka (Independent Director)
  • Mr. Rajiv Roy Chaudhury (Independent Director)
  • Mr. Vivek Dhir (Independent Director)

Additional Information

The company maintains a strong credit profile with ratings of AA Stable and A1+ by ICRA. The presentation also highlights the company's commitment to ESG principles and driving sustainable growth.

Market Data (as of June 30, 2026)

  • NSE Symbol: ISGEC
  • Market Cap: ₹69,140 million
  • Free Float: 37.57%
  • Free Float Market Cap: ₹25,600 million
  • Shares Outstanding: 73.5 million
  • 3M ADTV (Shares): 80,226
  • 3M ADTV (₹): 80.1 million
  • Industry: Industrial Machinery