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Isgec Heavy Engineering Seeks Re-appointment of MD Aditya Puri and Top Execs for 5-Year Terms
Isgec Heavy Engineering has initiated a postal ballot to seek shareholder approval for the re-appointment of its core leadership team for five-year terms starting in mid-2026. Mr. Aditya Puri is proposed to continue as Managing Director with a monthly basic salary of ₹21 lakh and a commission capped at 2.5% of net profits. Additionally, Mr. Kishore Chatnani and Mr. Sanjay Gulati are proposed for re-appointment as Joint Managing Directors, with Mr. Chatnani's total remuneration capped at ₹3.52 crore for FY 2026-27. The move aims to ensure management continuity and stability for the company's long-term strategic execution.
Key Highlights
Proposed re-appointment of Mr. Aditya Puri as Managing Director for a 5-year term from May 1, 2026, to April 30, 2031.
MD remuneration includes ₹21 lakh monthly basic salary plus perquisites and a commission cap of 2.5% of net profits.
Mr. Kishore Chatnani proposed as JMD and CFO with a total remuneration limit of ₹3.52 crore for the financial year 2026-27.
Mr. Arvind Sagar proposed for a second consecutive term as an Independent Director through a special resolution.
E-voting period for shareholders is scheduled from February 26, 2026, to March 27, 2026, with results by March 29, 2026.
💼 Action for Investors
Investors should support these resolutions as they ensure leadership stability and continuity in the company's top management. Monitor the voting results on March 29, 2026, to confirm the re-appointments are finalized.
ISGEC Q3 FY26: Consolidated PBT up 72% to ₹150 Cr; Order Book grows to ₹8,709 Cr
ISGEC delivered a strong Q3 FY26 performance with consolidated PBT from continuing operations rising 72% YoY to ₹150 crores. The consolidated order book grew 19% YoY to ₹8,709 crores, supported by robust demand in manufacturing and exports. The Board approved a fresh ₹218 crore capex for the Machine Building division, aiming to scale its annual revenue from ₹400 crores to ₹1,000 crores by 2027. Despite the failed sale of its Philippines asset, the company significantly reduced consolidated net debt by ₹340 crores during the quarter.
Key Highlights
Consolidated PBT from continuing operations surged 72% YoY to ₹150 crores in Q3 FY26.
Total consolidated order book reached ₹8,709 crores, with standalone export orders at ₹1,629 crores.
Approved ₹218 crore investment to expand Machine Building capacity, targeting ₹1,000 crore annual revenue by 2027.
Consolidated net external borrowing decreased by ₹340 crores to ₹317 crores during the quarter.
Revised Dahej facility investment upwards to ₹110 crores to meet higher demand for larger skids and modules.
💼 Action for Investors
Investors should view the strong order book and aggressive capex in high-margin manufacturing segments as long-term growth drivers. Monitor the progress of the Philippines asset sale and the execution of the new capacity expansions.
ISGEC Q3 FY26 Results: Consolidated PAT Surges 92.5% YoY to ₹1,122 Million
ISGEC Heavy Engineering reported a robust performance for Q3 FY26, with consolidated total income from continuing operations rising 17.1% YoY to ₹17,563 million. The company's profitability saw a massive boost as consolidated PAT surged 92.5% YoY to ₹1,122 million, driven by strong growth in the Industrial Projects and Manufacturing segments. For the nine-month period (9M FY26), consolidated PAT grew by 6.4% to ₹2,741 million. The company maintains a healthy credit profile with an AA Stable rating and a diversified revenue base across 93 countries.
Key Highlights
Consolidated PAT from continuing operations for Q3 FY26 jumped 92.5% YoY to ₹1,122 million.
Total Income for Q3 FY26 grew 17.1% YoY to ₹17,563 million, up from ₹14,997 million in Q3 FY25.
Industrial Projects revenue grew 22.9% YoY, while Manufacturing of Machinery & Equipment grew 15.9% YoY.
Manufacturing segment EBIT margins improved to 15.4% in Q3 FY26 compared to 14.8% in the previous year.
9M FY26 consolidated total income reached ₹48,406 million with a PAT margin of 5.7%.
💼 Action for Investors
Investors should view the significant quarterly profit surge and margin improvement in the manufacturing segment as a positive indicator of operational efficiency. The company remains a strong candidate for portfolios focused on industrial engineering and the domestic capex cycle.
Isgec Q3 Net Profit Rises 28% to ₹75 Cr; Board Approves ₹350 Cr+ Capex for Expansion
Isgec Heavy Engineering reported a strong Q3 FY26 performance with standalone net profit rising 28.1% year-on-year to ₹75.17 crore. Revenue from operations grew 18.5% to ₹1,326.90 crore, supported by growth in both Manufacturing and Industrial Projects segments. The company announced a significant capital expenditure plan exceeding ₹350 crore to expand its Machine Building and Foundry divisions and enhance its Dahej SEZ facility. Furthermore, the board has approved the re-appointment of key leadership, including Promoter Aditya Puri as Managing Director for a five-year term.
Key Highlights
Standalone Net Profit for Q3 FY26 increased to ₹75.17 crore from ₹58.66 crore in the previous year.
Revenue from operations for the quarter rose 18.5% YoY to ₹1,326.90 crore.
Approved a major capital expenditure of ₹218 crore for the expansion of the Machine Building Division.
Enhanced investment in the Process Skids & Modules facility at Dahej SEZ from ₹87 crore to ₹110 crore.
Re-appointed Aditya Puri as Managing Director and Kishore Chatnani as Joint MD & CFO for 5-year terms starting 2026.
💼 Action for Investors
The strong quarterly earnings combined with a substantial capex commitment suggests a robust growth outlook for the company's engineering and manufacturing segments. Investors should monitor the execution timelines of the new capacity additions as they will be key drivers for future revenue growth.
ISGEC Q3 PAT Rises 28% YoY to ₹75.17 Cr; Announces ₹240 Cr+ Capex for Expansion
ISGEC Heavy Engineering reported a robust Q3 performance with Net Profit increasing 28% year-on-year to ₹75.17 crore. The company has approved a significant capital expenditure plan of ₹218 crore for the expansion of its Machine Building Division and ₹22.6 crore for a new Machining Shop. Additionally, the investment for the Dahej SEZ facility has been revised upward to ₹110 crore. The board also ensured leadership stability by re-appointing the Managing Director and Joint Managing Directors for five-year terms.
Key Highlights
Q3 Net Profit grew 28% YoY to ₹75.17 crore from ₹58.66 crore in the previous year.
Revenue for the quarter increased 18.5% YoY to ₹1,326.9 crore.
Approved ₹218 crore capex for Machine Building Division and ₹22.6 crore for Iron Foundry Division.
Increased investment budget for Dahej SEZ facility from ₹87 crore to ₹110 crore.
Re-appointed Aditya Puri as Managing Director and Kishore Chatnani as JMD & CFO for 5-year terms.
💼 Action for Investors
The combination of strong profit growth and significant capital expenditure signals management's confidence in long-term demand. Investors should monitor the execution of the new capex projects as they will be key drivers for future revenue growth.
ISGEC Q3 PAT Rises 28% YoY to ₹75 Cr; Announces ₹350 Cr+ Capex & Leadership Re-appointments
ISGEC Heavy Engineering reported a strong Q3 FY26 with standalone revenue growing 18.5% YoY to ₹1,326.90 crore and PAT increasing 28% to ₹75.17 crore. The company has committed to significant growth through a ₹218 crore expansion of its Machine Building Division and an increased investment of ₹110 crore for its Dahej SEZ facility. Leadership stability is secured with the 5-year re-appointments of the Managing Director, two Joint Managing Directors, and the CFO. Operational performance remains robust across both the Manufacturing and Industrial Projects segments despite a ₹14.03 crore exceptional item.
Key Highlights
Standalone Revenue from operations increased 18.5% YoY to ₹1,326.90 crore in Q3 FY26.
Net Profit (PAT) rose 28% YoY to ₹75.17 crore, overcoming a ₹14.03 crore exceptional charge.
Approved major Capex of ₹218 crore for Machine Building Division and ₹22.6 crore for a new Machining Shop.
Enhanced investment in Dahej SEZ Process Skids facility from ₹87 crore to ₹110 crore.
Re-appointed Aditya Puri as MD and Kishore Chatnani as Joint MD & CFO for 5-year terms starting 2026.
💼 Action for Investors
Investors should take note of the strong earnings growth and the aggressive expansion plans which indicate a positive long-term outlook. The continuity in top leadership and focus on high-value manufacturing segments like Dahej SEZ are key positives to watch.
ISGEC Q3 PAT Rises 28% YoY to ₹75 Cr; Board Approves ₹240 Cr Capacity Expansion
ISGEC Heavy Engineering reported a strong performance for Q3 FY26, with standalone revenue growing 18.5% YoY to ₹1,326.9 crore. Net profit (PAT) increased by 28% YoY to ₹75.2 crore, even after accounting for a ₹14 crore exceptional item. The company announced a significant capital expenditure plan of approximately ₹240 crore to expand its Machine Building and Iron Foundry divisions. Furthermore, the board ensured leadership continuity by re-appointing the Managing Director and Joint Managing Directors for five-year terms.
Key Highlights
Standalone Revenue from operations increased 18.5% YoY to ₹1,326.9 crore in Q3 FY26.
Net Profit (PAT) grew 28% YoY to ₹75.2 crore compared to ₹58.7 crore in the previous year's quarter.
Approved ₹218 crore capex for expansion of the Machine Building Division and ₹22.6 crore for a new Machining Shop.
Increased investment for the Process Skids & Modules facility at Dahej SEZ from ₹87 crore to ₹110 crore.
Re-appointed Aditya Puri as Managing Director and Kishore Chatnani as Joint MD & CFO for 5-year terms starting 2026.
💼 Action for Investors
The strong earnings growth combined with aggressive capacity expansion plans signals a positive outlook for the company's industrial and manufacturing segments. Investors should monitor the timely execution of the new capex projects as they are expected to drive future revenue.
ISGEC Q3 PAT Rises 28% YoY to ₹75 Cr; Board Approves ₹263 Cr Capex for Expansion
ISGEC Heavy Engineering reported a strong Q3 FY26 performance with revenue from operations growing 18.5% YoY to ₹1,326.9 crore. Net profit (PAT) increased by 28% YoY to ₹75.2 crore, even after accounting for a ₹14 crore exceptional item. The company announced a major growth push with board approval for capital expenditure totaling approximately ₹263.6 crore, primarily focused on the Machine Building Division. Additionally, the board ensured leadership continuity by re-appointing the Managing Director and Joint Managing Directors for five-year terms.
Key Highlights
Revenue from operations increased 18.5% YoY to ₹1,326.9 crore in Q3 FY26.
Net Profit (PAT) rose 28% YoY to ₹75.2 crore compared to ₹58.7 crore in the previous year's quarter.
Approved a significant ₹218 crore capital expenditure for the expansion of the Machine Building Division.
Allocated ₹22.6 crore for a new Machining Shop and increased Dahej SEZ investment to ₹110 crore.
Re-appointed Aditya Puri as Managing Director and Kishore Chatnani as Joint MD & CFO for 5-year terms.
💼 Action for Investors
The strong earnings growth coupled with a substantial ₹263 crore capex plan indicates a robust outlook for the heavy engineering and industrial projects segments. Investors should view the management continuity and capacity expansion as positive indicators for long-term scalability.
ISGEC to Invest ₹87 Crore to Expand Skids & Modules Capacity by 6,000 MT
ISGEC Heavy Engineering has announced a strategic expansion of its Skids and Modules business with a planned investment of ₹87 Crores. The company intends to add 6,000 Metric Tons (MT) per annum of dedicated capacity to meet expected growth in this segment. The project is slated for completion within 2.5 years and will be entirely funded through internal accruals, avoiding additional debt. This move transitions the product line from a shared facility to a dedicated manufacturing unit, potentially improving operational efficiency.
Key Highlights
Investment of ₹87 Crores for a dedicated Skids & Modules manufacturing facility
Proposed capacity addition of 6,000 Metric Tons per annum
Project completion timeline set at 2.5 years
Expansion to be funded 100% through internal accruals
Existing shared capacity currently ranges between 8,000 to 13,000 MT per annum
💼 Action for Investors
Investors should monitor the company's order book in the Skids & Modules segment to ensure demand aligns with this capacity addition. The use of internal accruals for funding is a positive sign of financial health and disciplined growth.
Isgec Heavy Engineering Faces GST Penalty and Tax Demand of Rs 19.95 Crore
Isgec Heavy Engineering has received an order from the GST authorities in Bengaluru imposing a total financial impact of Rs 19.95 crore. This includes a tax demand of Rs 6.28 crore and a substantial penalty of Rs 13.67 crore. The demand arises from alleged non-payment of GST on advances received for the supply of services. The company has expressed its intention to contest the order by filing an appeal under the Goods and Services Tax Act.
Key Highlights
Total financial impact quantified at Rs 19,94,97,427
Penalty of Rs 13,67,16,445 imposed by Bengaluru East Commissionerate
Tax demand of Rs 6,27,80,982 for alleged failure to discharge GST on service advances
Order received on December 30, 2025, under Section 74(9) of the CGST Act
Company plans to file a formal appeal against the tax authority's decision
💼 Action for Investors
Investors should monitor the outcome of the company's appeal as the penalty amount is significant. While this creates a short-term negative sentiment, the final impact depends on the legal resolution of the dispute.
Isgec Heavy Engineering Faces GST Penalty and Tax Demand of Rs 19.95 Crore
Isgec Heavy Engineering has received an order from the GST authorities in Bengaluru imposing a total financial impact of Rs 19.95 crore. This includes a tax demand of Rs 6.28 crore and a substantial penalty of Rs 13.67 crore for alleged non-payment of GST on advances received for services. The authority alleges the company failed to discharge liabilities in statutory returns as per Section 74(9) of the CGST Act. The company has expressed its intention to contest the order by filing an appeal under the GST Act.
Key Highlights
Total financial impact quantified at Rs 19,94,97,427
Penalty of Rs 13,67,16,445 imposed by Bengaluru East Commissionerate
Tax demand of Rs 6,27,80,982 for alleged GST violations on service advances
Company plans to file an appeal against the order to mitigate the impact
💼 Action for Investors
Investors should monitor the outcome of the company's appeal as the penalty amount is significant. While the immediate impact is negative, the final liability will depend on the legal resolution.
Isgec Heavy Engineering Receives Rs 19.95 Crore GST Tax Demand and Penalty Notice
Isgec Heavy Engineering Limited has been served an order by the GST authorities in Bengaluru involving a total financial impact of Rs 19.95 crore. The order includes a tax demand of Rs 6.28 crore and a penalty of Rs 13.67 crore for alleged non-payment of GST on service advances. The company is accused of violating Section 74(9) of the CGST Act regarding the discharge of tax liabilities. Isgec has stated its intention to contest this demand by filing an appeal under the Goods and Services Tax Act.
Key Highlights
Total financial impact quantified at Rs 19,94,97,427 including tax and penalty.
Penalty of Rs 13.67 crore imposed, which is significantly higher than the tax demand of Rs 6.28 crore.
Allegation involves failure to declare and discharge GST liability on advances received for services.
Order issued by the Joint Commissioner of Central Tax & Central Excise, Bengaluru East Commissionerate.
The company plans to file an appeal to challenge the order under the GST Act.
💼 Action for Investors
Investors should monitor the progress of the legal appeal as the penalty amount is substantial relative to the tax demand. While this creates a contingent liability, the final impact will depend on the outcome of the appellate process.
Isgec Heavy Engineering Completes 26% Equity Acquisition in FPEL HR1 Energy
Isgec Heavy Engineering Limited has successfully completed the acquisition of a 26% equity stake in FPEL HR1 Energy Private Limited. The company received the final allotment of shares on December 17, 2025, following the execution of a Solar Power Purchase Agreement and a Share Subscription Agreement. This strategic move is aimed at securing renewable energy for the company's operations. The completion of this transaction formalizes the investment process initiated in October 2025.
Key Highlights
Acquisition of 26% equity share capital in FPEL HR1 Energy Private Limited is now complete.
The transaction is linked to a Solar Power Purchase Agreement for captive energy consumption.
Share allotment was officially confirmed by the company on December 17, 2025.
The deal follows previous strategic agreements signed on October 06 and December 04, 2025.
💼 Action for Investors
Investors should view this as a positive step towards energy cost optimization and sustainability through captive solar power. Monitor the long-term impact on operating expenses as the renewable energy integration takes effect.
Isgec Heavy Engineering Incorporates Wholly Owned Subsidiary in Eswatini
Isgec Heavy Engineering Limited has successfully incorporated its wholly owned subsidiary, Isgec Eswatini (Proprietary) Limited, in Eswatini as of December 10, 2025. This follows an initial intimation regarding the acquisition and incorporation plan dated November 13, 2025. The move signifies the company's intent to expand its global footprint and potentially execute engineering projects within the African region. While specific capital outlay was not mentioned, the establishment of a local entity is a key step for international operational growth.
Key Highlights
Successful incorporation of Isgec Eswatini (Proprietary) Limited on December 10, 2025.
The new entity is a 100% wholly owned subsidiary of Isgec Heavy Engineering Limited.
The incorporation is a follow-up to the company's strategic plan announced on November 13, 2025.
Strategic expansion into the Eswatini market to enhance international project execution capabilities.
💼 Action for Investors
Investors should monitor for future contract wins or order book additions specifically linked to this new subsidiary in the African market. This geographical diversification could provide long-term growth opportunities for the company's heavy engineering business.