Getty Images has buy call on ISGEC Heavy Engineering with a target price of Rs 601. The current market price of is Rs 451. Time period given by analyst is one year when . price can reach defined target.
Heavy Engineering Ltd., incorporated in the year 1933, is a Mid Cap company (having a market cap of Rs 3315.45 Crore) operating in Engineering sector.
ISGEC Heavy Engineering Ltd. key Products/Revenue Segments include Boilers, Sugar & Power Plants, Erection & Other Charges, Other Operating Revenue, Lease Rentals, Waste/Scrap, Export Incentives and Commission for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1250.26 Crore, down -21.73 % from last quarter Total Income of Rs 1597.28 Crore and up 10.30 % from last year same quarter Total Income of Rs 1133.52 Crore. Company reported net profit after tax of Rs 18.04 Crore in latest quarter.
Investment Rationale
Due to commodity price inflation, ISGEC is currently executing variable- priced contracts, which are long-cycle and have resulted in slower execution in recent quarters. However, with completion of these orders in FY23, the brokerage expects execution on the recently booked orders to ramp up and support margin expansion. Hence, it maintains BUY on the stock.
Promoter/FII Holdings
Promoters held 62.43 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.35 per cent, DIIs 7.38 per cent.
Heavy Engineering Ltd., incorporated in the year 1933, is a Mid Cap company (having a market cap of Rs 3315.45 Crore) operating in Engineering sector.
ISGEC Heavy Engineering Ltd. key Products/Revenue Segments include Boilers, Sugar & Power Plants, Erection & Other Charges, Other Operating Revenue, Lease Rentals, Waste/Scrap, Export Incentives and Commission for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1250.26 Crore, down -21.73 % from last quarter Total Income of Rs 1597.28 Crore and up 10.30 % from last year same quarter Total Income of Rs 1133.52 Crore. Company reported net profit after tax of Rs 18.04 Crore in latest quarter.
Investment Rationale
Due to commodity price inflation, ISGEC is currently executing variable- priced contracts, which are long-cycle and have resulted in slower execution in recent quarters. However, with completion of these orders in FY23, the brokerage expects execution on the recently booked orders to ramp up and support margin expansion. Hence, it maintains BUY on the stock.
Promoter/FII Holdings
Promoters held 62.43 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.35 per cent, DIIs 7.38 per cent.
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