ISGEC Heavy Engineering Ltd
ISGECISGEC Heavy Engineering Ltd's price has outrun its earnings. −23.9% in a year against EPS −56.3% — the market is paying now for delivery later.
The sharpest disagreement: the price moved −23.9% in a year while annual EPS moved −56.3% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a downtrend (2 weeks in) while the P/E sits at the 97th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −13.3% year on year, and 240% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
ISGEC Heavy Engineering Ltd trades at ₹827, in a downtrend and 2 weeks into that stage. That is −12.2% against its own 200-day average. It sits at 26% of a 52-week range of ₹736 to ₹1,087. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (12 weeks and counting).
Today the stock is in a downtrend — week 2 of stage 4, confirmed. At ₹827 it trades −12.2% versus its 200-day average and sits at 26% of its 52-week range (₹736–₹1,087).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +105% while the NIFTY 500 moved +276% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (12 weeks and counting; last ahead the week of 2026-06-05) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
ISGEC Heavy Engineering Ltd trades at 52.9× P/E, at the pricey end of its own range (97th percentile). Its long-run median P/E is 24.5×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 52.9× is at the pricey end of its own range (97th percentile), against a long-run median of 24.5× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −56.3% against a −23.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +0.8%/yr price move, ~−14.3%/yr came from earnings growth and ~+15.1 pp from the multiple (expanding); over 10y, of the +5.1%/yr price move, ~−4.0%/yr came from earnings growth and ~+9.1 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
ISGEC Heavy Engineering Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 13.7% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +5.7% | +2.0% | +4.6% | +4.2% |
| Profit | −41.7% | −9.2% | −9.5% | −2.1% |
| EPS | −56.3% | −17.9% | −15.2% | −5.2% |
| Share price | −23.9% | +4.4% | +0.8% | +5.1% |
4-Factor Sector Score
43.1/100 — rank 4 of 8 in Infra - Engineering - General · 96% evidence confidence
ISGEC Heavy Engineering Ltd scores 43.1 out of 100 against the 8 companies it is compared with in Infra - Engineering - General, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 18.6 + 11.3 + 8.9 + 4.3 = 43.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
ISGEC Heavy Engineering Ltd reported ₹2,048 Cr of revenue in the Mar 26 quarter, +17.4% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 4.2% a year. The last full year, FY26, came in at ₹6,789 Cr. The last four reported quarters add to ₹6,819 Cr.
FY26 revenue came in at ₹6,789 Cr (+5.7% on the year), capping 10 years at 4.2% compound. The latest quarter (Mar 26) printed ₹2,048 Cr, +17.4% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +5.9% growth against the decade's 4.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +6.2% over the last 4 quarters against +4.7%/yr over the last 8 — stabilising; TTM profit +0.0% vs +5.3%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
ISGEC Heavy Engineering Ltd's operating margin is 8.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0% to 10.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 8.0%, −1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0%–10.0%.
🚨 Why the margin moved: operating margin went −1.1 pp year on year while gross margin went +4.2 pp — the loss came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
ISGEC Heavy Engineering Ltd earned ₹85.0 Cr of net profit in the Mar 26 quarter, −13.3% year on year. Full-year FY26 profit was ₹154 Cr. The 10-year compound rate is −2.1%. That is 4.2% of the quarter's revenue. The same quarter a year earlier earned ₹98.0 Cr.
Mar 26 profit was ₹85.0 Cr, −13.3% year on year. On the full year, FY26 printed ₹154 Cr (−41.7%), and the 10-year compound rate is −2.1%.
🚨 Why profit moved: revenue contributed +17.4% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +49.6% vs revenue +5.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 240% of ISGEC Heavy Engineering Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹765 Cr of operating cash against ₹154 Cr of profit. After ₹1,167 Cr of capital spending, ₹−402 Cr was left as free cash.
FY26: operating cash of ₹765 Cr against reported profit of ₹154 Cr, leaving free cash of ₹−402 Cr after ₹1,167 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 240% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 240%: the cash cycle stretched 100 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
ISGEC Heavy Engineering Ltd's cash conversion cycle runs 192 days in FY26, up from 92 days in FY21. Capital spending ran ₹657 Cr over the last 3 years. At FY26 sales of ₹6,789 Cr each day of that cycle holds about ₹18.6 Cr, so roughly ₹3,571 Cr sits inside the business at any moment.
FY26: debtors at 148 days, inventory at 162 days — roughly 5.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 192 days, looser than FY21's 92.
The full loop: cash goes out to suppliers and production on day 0; stock waits 162 days to sell; customers pay about 148 days after that; and suppliers themselves are paid at 118 days — netting out to the 192-day cycle.
In money terms: at FY26 sales of ₹6,789 Cr, each day of the cycle holds about ₹18.6 Cr — so the 192-day loop keeps roughly ₹3,571 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹657 Cr over the last 3 fiscal years against ₹481 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹137 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
ISGEC Heavy Engineering Ltd earns a ROCE of 11% in FY26. That is up from a trough of 8% in FY22. Return on invested capital clears the cost of that capital by −8.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.3% net margin on 0.84× asset turns.
FY26 ROCE is 11%, recovered from a FY22 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 2.3% net margin × 0.84× asset turns × 2.95× balance-sheet leverage ≈ 5.7% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 4.0% − 12.0% = a −8.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
ISGEC Heavy Engineering Ltd carries total debt of ₹951 Cr against shareholder equity of ₹2,888 Cr as of Mar 26, a debt-to-equity of 0.33. On the annual view that ratio went from 0.56 in FY22 to 0.33 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹951 Cr against shareholder equity of ₹2,888 Cr — a debt-to-equity of 0.33. On the annual view, debt-to-equity went from 0.56 (FY22) to 0.33 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 1.4 points of ISGEC Heavy Engineering Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 10.2% of the company. Foreign institutions moved −0.1 points over the same window, to 3.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +1.4 points over 8 quarters to 10.2%; Foreign institutions: −0.1 points over 8 quarters to 3.8%; Promoters: +0.0 points over 8 quarters to 62.4%.
Why the register moved: domestic institutions drove it (+1.4 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
ISGEC Heavy Engineering Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Engineers India LtdENGINERSIN | 74.9/100Favorable setup96% evidence | FADING | 23.2/35 Revenue 27.2% · PAT 18.9% · OPM change -14 pp 88% evidence | 21.1/25 ROCE 30.6% · OPM 16% 100% evidence | 17.6/20 P/E 18.1× · PEG 0.51 100% evidence | 13.0/20 RS sector 8.3% · RS bench 4.1% · 1Y -3.1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 23.2 + 21.1 + 17.6 + 13 = 74.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Bondada Engineering Ltd543971 | 58.9/100Mixed-positive evidence60% evidence | ASLEEP | 18.3/35 Revenue — · PAT — · OPM change 0 pp 32% evidence | 19.3/25 ROCE 38.7% · OPM 11% 76% evidence | 14.8/20 P/E 16.4× · PEG — 50% evidence | 6.5/20 RS sector -13.3% · RS bench -16.7% · 1Y -30.7%6 of 12 weeks ahead 100% evidence |
| Exact sum: 18.3 + 19.3 + 14.8 + 6.5 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Axtel Industries LtdAXTEL | 57.8/100Thin evidence · provisional57% evidence | 19.6/35 Revenue -1.2% · PAT 33.3% · OPM change 6.2 pp 53% evidence | 16.0/25 ROCE 19.8% · OPM 18.4% 57% evidence | 8.1/20 P/E 29.9× · PEG — 50% evidence | 14.1/20 RS sector 4.3% · RS bench 1.9% · 1Y -2.6%1 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 19.6 + 16 + 8.1 + 14.1 = 57.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 4ISGEC Heavy Engineering Ltdthis pageISGEC | 43.1/100Mixed-negative evidence96% evidence | ASLEEP | 18.6/35 Revenue 6.2% · PAT 0% · OPM change -1 pp 88% evidence | 11.3/25 ROCE 10.8% · OPM 8% 100% evidence | 8.9/20 P/E 52.9× · PEG 0.94 100% evidence | 4.3/20 RS sector -7.3% · RS bench -10.9% · 1Y -27.3%2 of 12 weeks ahead 100% evidence |
| Exact sum: 18.6 + 11.3 + 8.9 + 4.3 = 43.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Ircon International LtdIRCON | 39.8/100Mixed-negative evidence90% evidence | ASLEEP | 15.0/35 Revenue -15.7% · PAT -18.7% · OPM change 1 pp 88% evidence | 7.9/25 ROCE 9.7% · OPM 8% 100% evidence | 13.1/20 P/E 19.9× · PEG 1.13 100% evidence | 3.8/20 RS sector -14.9% · RS bench -18.6% · 1Y -30.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 15 + 7.9 + 13.1 + 3.8 = 39.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 6EMS LtdEMSLIMITED | 31.6/100Adverse evidence90% evidence | TURNING | 8.5/35 Revenue -23.2% · PAT -50.5% · OPM change -8.8 pp 88% evidence | 11.4/25 ROCE 12.5% · OPM 15.2% 100% evidence | 5.9/20 P/E 25.2× · PEG 2.09 100% evidence | 5.8/20 RS sector -35.9% · RS bench -2% · 1Y -33.8%7 of 10 weeks ahead 70% evidence |
| Exact sum: 8.5 + 11.4 + 5.9 + 5.8 = 31.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7BGR Energy Systems LtdBGRENERGY | 29.6/100Adverse evidence63% evidence | TURNING | 5.1/35 Revenue -38.3% · PAT -10.9% · OPM change -529 pp 71% evidence | 0.6/25 ROCE -26.9% · OPM -648% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 13.9/20 RS sector 28.2% · RS bench -8.7% · 1Y 189.6%2 of 10 weeks ahead 70% evidence |
| Exact sum: 5.1 + 0.6 + 10 + 13.9 = 29.6 · Decision use: Price leads the evidence: RS versus the benchmark is -8.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Artson LtdARTSON | 46.8/100Thin evidence · provisional47% evidence | 17.0/35 Revenue 100% · PAT -80% · OPM change -4 pp 53% evidence | 12.9/25 ROCE 24.6% · OPM -45% 57% evidence | 10.0/20 P/E — · PEG — 0% evidence | 6.9/20 RS sector -7.5% · RS bench -10% · 1Y -17.1%0 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 17 + 12.9 + 10 + 6.9 = 46.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is ISGEC Heavy Engineering Ltd's share price today?
ISGEC Heavy Engineering Ltd trades at ₹827, −23.9% over the past year. The company is valued at ₹6,073 Cr. The stock sits at 26% of its 52-week range of ₹736–₹1,087, −12.2% versus its 200-day average. On the tape, the price is in a downtrend, 2 weeks in. — as of 31 July 2026.
What were ISGEC Heavy Engineering Ltd's latest quarterly results?
ISGEC Heavy Engineering Ltd reported revenue of ₹2,048 Cr and net profit of ₹85.0 Cr for the Mar 26 quarter. Revenue rose 17.4% and profit fell 13.3% year on year. Earnings per share were ₹9.96. The operating margin was 8.0%, 1.0 pp lower than a year earlier. — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's revenue?
ISGEC Heavy Engineering Ltd reported revenue of ₹2,048 Cr in the Mar 26 quarter, +17.4% year on year. For the full FY26 fiscal year, revenue was ₹6,789 Cr (+5.7%). Over the last 10 years revenue compounded at 4.2% a year. — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's profit?
ISGEC Heavy Engineering Ltd earned ₹85.0 Cr of net profit in the Mar 26 quarter, −13.3% year on year. Full-year FY26 profit was ₹154 Cr. The operating margin ran 8.0% in the latest quarter. — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's market cap?
ISGEC Heavy Engineering Ltd's market capitalisation is ₹6,073 Cr at a share price of ₹827. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's P/E ratio?
ISGEC Heavy Engineering Ltd trades at a P/E of 52.9×, at the 97th percentile of its own 10-year range, against a long-run median of 24.5×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does ISGEC Heavy Engineering Ltd pay a dividend?
Yes — ISGEC Heavy Engineering Ltd's dividend payout was 40% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd overvalued?
On its own history, ISGEC Heavy Engineering Ltd looks expensive against its own history: its P/E of 52.9× sits at the 97th percentile of its 10-year range (long-run median 24.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd growing?
Not right now — ISGEC Heavy Engineering Ltd's latest numbers are shrinking: latest-quarter revenue +17.4% year on year, profit −13.3%, and the margin −1.0 pp at 8.0%. The 10-year compound rates are 4.2% (revenue) and −2.1% (profit). The earnings engine currently reads: deteriorating — as of 31 July 2026.
How is ISGEC Heavy Engineering Ltd performing?
ISGEC Heavy Engineering Ltd is in a downtrend, 2 weeks in. Its latest quarter's revenue rose 17.4% and profit fell 13.3% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 12 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is ISGEC Heavy Engineering Ltd in?
Mixed — no clean majority across the growth curves, ROCE holding at 13.7% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +6.2% latest, profit growth +0.0% latest, eps growth −11.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd in an uptrend?
No — the price is in a downtrend (week 2 of stage 4), trading −12.2% versus its 200-day average and at 26% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd beating the market?
Not lately — on a trailing-13-week view ISGEC Heavy Engineering Ltd is currently behind the NIFTY 500 (12 weeks and counting; last ahead the week of 2026-06-05), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +105% against the NIFTY 500's +276% — behind the index over the full window. — as of 31 July 2026.
Will ISGEC Heavy Engineering Ltd's share price go up?
This page publishes no price forecast for ISGEC Heavy Engineering Ltd. What it measures instead: the share price is ₹827, the price is in a downtrend 2 weeks in. Its P/E of 52.9× sits at the 97th percentile of its own 10-year range. — as of 31 July 2026.
Who owns ISGEC Heavy Engineering Ltd?
Promoters hold 62.4% of ISGEC Heavy Engineering Ltd, foreign institutions 3.8%, domestic institutions 10.2% and the public 23.6% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 1.4 points over 8 quarters. — as of 31 July 2026.
Does ISGEC Heavy Engineering Ltd have too much debt?
It is moderate — ISGEC Heavy Engineering Ltd's debt-to-equity is 0.35, and operating profit covers the interest bill 7×. FY26 borrowings were ₹951 Cr against equity of ₹2,736 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's capex?
ISGEC Heavy Engineering Ltd spent ₹657 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹1,167 Cr, with ₹137 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is ISGEC Heavy Engineering Ltd's cash flow?
ISGEC Heavy Engineering Ltd generated ₹765 Cr of operating cash flow in FY26 and ₹−402 Cr of free cash flow after ₹1,167 Cr of capital spending. Reported profit that year was ₹154 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd's profit real cash?
Yes — over the last 3 fiscal years, 240% of ISGEC Heavy Engineering Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹765 Cr against reported profit of ₹154 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is ISGEC Heavy Engineering Ltd in its business cycle?
ISGEC Heavy Engineering Ltd's FY26 operating margin was 8.0%, against a 13-year band of 5.0%–10.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 8.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the ISGEC Heavy Engineering Ltd story?
The sharpest disagreement: the price moved −23.9% in a year while annual EPS moved −56.3% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is ISGEC Heavy Engineering Ltd a stock worth studying right now?
This is not investment advice. The machine read: ISGEC Heavy Engineering Ltd's price has outrun its earnings. −23.9% in a year against EPS −56.3% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.