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Employees: 4,079
Size ISGEC Heavy Engineering (ISGEC.NS) is an India Industrials company (Engineering & Construction) with a market value of $746M, the 700th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹959.90 on 6 Nov 2026.
Performance Over six months the shares fell 10.8%, against -15.8% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 21.4% over the last twelve months (peer median +11.1%); the operating margin is 5.6% (peer median 9.1%).
Valuation It trades at 1.0× enterprise value to sales against a peer median of 1.1× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.5 points below its cost of capital (16.3% WACC).
Next results Next results expected around 15 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹76.2B | ₹67.2B | ₹64.0B | ₹61.9B | ₹63.5B |
| Revenue growth | — | +5% | +3% | -2% | — |
| Gross profit | ₹17.0B | ₹8.79B | ₹8.59B | ₹8.32B | ₹8.34B |
| EBITDA | ₹6.20B | ₹6.28B | ₹5.56B | ₹5.37B | ₹4.60B |
| Net income | ₹2.08B | ₹1.09B | ₹1.90B | ₹2.44B | ₹1.96B |
| Free cash flow | n/a | ₹4.79B | -₹2.21B | ₹4.25B | ₹160M |
| Capital expenditure | n/a | ₹1.68B | ₹2.41B | ₹2.45B | ₹1.58B |
| Total debt | ₹7.64B | ₹9.51B | ₹11.0B | ₹8.14B | ₹12.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ISGEC.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.5% | -6.2% | highest of 21 |
| 6-month return | -10.8% | -15.8% | 8th highest of 20 |
| Distance from 52-week high | -13.8% | -33.1% | 4th highest of 21 |
| Revenue growth (TTM) | +21.4% | +11.1% | 6th highest of 21 |
| Operating margin | 5.6% | 9.1% | 6th lowest of 21 |
| EV / Sales | 1.0× | 1.1× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 22.1% | -0.2% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +5.0% | +7.6% | 4th lowest of 12 |
| Hurdle (Req g minus delivered) | +17.2 pp | -8.6 pp | most demanding of 12 |
| ROIC minus cost of capital | -6.5 pp | -0.2 pp | 3rd lowest of 20 |
| EV / EBITDA | 11.9× | 10.1× | 2nd most expensive of 13 |
| Net debt / EBITDA | 0.3× | -0.3× | 6th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ISGEC Heavy Engineering ISGEC.NS | India | $746M | -11% | +21% | 6% | 1.0× | 22.1% | +5.0% |
| Bowman Consulting BWMN | United States | $745M | -19% | +14% | 5% | 1.9× | 30.3% | +32.1% |
| Suzhou West Deane New Power Electric 603312.SS | China | $750M | -18% | -8% | 9% | 1.7× | 7.1% | +62.0% |
| Hj Shipbuilding & Construction 097230.KS | South Korea | $752M | -61% | +27% | 6% | 0.6× | n/a | n/a |
| Hibiya Engineering,Ltd 1982.T | Japan | $753M | -8% | +2% | 12% | 1.0× | -3.4% | +5.2% |
| Shanghai Pudong Construction 600284.SS | China | $739M | -28% | -17% | 1% | 0.0× | n/a | n/a |
| Southern Cross Electrical Engineering SXE.AX | Australia | $755M | -14% | -10% | 9% | 1.2× | -4.8% | +14.2% |
| Shinnihon 1879.T | Japan | $759M | +6% | +7% | 14% | 0.3× | -21.3% | +6.3% |
| Power Mech Projects POWERMECH.NS | India | $761M | -12% | +16% | 10% | 1.1× | n/a | n/a |
| GMR Power and Urban Infra GMRP&UI.NS | India | $763M | -17% | +4% | 14% | 2.4× | n/a | n/a |
| FDC Consolidated FDC.AX | Australia | $763M | n/a | +13% | -1% | 0.4× | -6.2% | +12.9% |
| Ceigall India CEIGALL.NS | India | $708M | +5% | +20% | 13% | 1.6× | n/a | n/a |
| Shanghai CDXJ Digital Technology 603887.SS | China | $705M | -49% | +79% | 3% | 1.8× | n/a | n/a |
| Anhui Orivie Technology 300692.SZ | China | $702M | -7% | -6% | 21% | 7.5× | 10.9% | +0.1% |
| United Testing Inspection And Certification Technology 301115.SZ | China | $702M | +22% | +5% | -1% | 3.0× | n/a | n/a |
| Zhejiang Yasha Decoration 002375.SZ | China | $695M | -16% | -25% | 6% | 0.7× | -0.2% | -3.3% |
| G R Infraprojects GRINFRA.NS | India | $803M | -21% | +25% | 16% | 0.8× | n/a | n/a |
| Shenzhen Investment Holdings Bay Area Development 0737.HK | Hong Kong | $803M | -4% | +11% | 30% | 13.3× | 14.6% | -2.4% |
| Shin Nippon Air Technologies 1952.T | Japan | $803M | -25% | +11% | 9% | 0.7× | 1.3% | +7.6% |
| Da-Cin Construction 2535.TW | Taiwan | $693M | +23% | +36% | 8% | 0.9× | -10.6% | +7.9% |
| Cardinal Infrastructure CDNL | United States | $691M | -73% | +90% | 8% | 1.4× | n/a | n/a |