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Revenue
₹1,739 Cr
verified against source
Revenue YoY
17.7%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Isgec Heavy Engineering delivered a strong Q3 FY26 with consolidated revenue of ₹1,765 crore (+17.7% YoY) and PAT of ₹84 crore (+265% YoY), driven by improved profitability in the core engineering business and the Hitachi JV. Standalone revenue grew 21% YoY to ₹1,365 crore, with PBT up 27%. Order bookings remained robust at ₹1,733 crore (consolidated), and the order book stood at ₹8,879 crore, with exports comprising 21%. Management highlighted a strategic shift toward private sector (85% of order book) and export orders, which carry better margins and payment terms. The company announced three capex plans totaling ~₹350 crore to expand machine building, machining, and skids/modules capacity, targeting incremental annual revenue of ₹620 crore. Guidance for FY26 revenue growth of 7-8% was reiterated, with expectations of double-digit growth in FY27. Key risk: commodity price inflation could pressure margins on fixed-price contracts, though management noted back-to-back supplier offers mitigate ~90% of exposure.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated the earlier guidance of 7-8% consolidated revenue growth for FY26, despite strong 9-month performance.
- Management indicated that the company should be able to grow revenue by about 9% in FY27, driven by strong order book and capex.
- Two capex projects (₹218 crore and earlier approved) are expected to add ₹225 crore and ₹375 crore annual revenue respectively, targeting total division revenue of ₹1,000 crore from current ₹400 crore.
- Investment increased from ₹87 crore to ₹110 crore; first phase by March 2027, second phase by March 2028.
Risks flagged
- Rising steel, nickel, copper, and aluminum prices could pressure margins on fixed-price orders, though management hedges via back-to-back supplier offers covering ~90% of exposure.
- The sale of the Philippines subsidiary fell through as the buyer failed to pay; the asset remains classified as held for sale with ₹1,098 crore investment, and management was evasive about new buyers.
- Multiple capex projects totaling ~₹350 crore with timelines extending to 2028 may face delays or cost overruns, impacting expected revenue additions.
- About ₹250 crore of retention money is expected in Q4, but ₹100 crore may spill over; delays could strain working capital.
Key quotes
- We hope to increase the revenue for the machine building division from the present 400 crores per year to about a,000 crores per year.
- The private sector order book is now 85%.
- We should be able to grow a 9%.
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