ISGEC Heavy Q1 FY27 Earnings Call — Analysis (NSE: ISGEC)
Isgec standalone income surges 51% YoY to ₹1,585 Cr; Philippines ethanol losses cast shadow on consolidated profit.
Result quality: stable — Steady quarter. Management sentiment: neutral.
The take
Isgec standalone income surges 51% YoY to ₹1,585 Cr; Philippines ethanol losses cast shadow on consolidated profit.
Results
Standalone Q1 FY27 total income up 51% YoY at ₹1,585 Cr, with manufacturing EBIT margin at 12% and projects EBIT margin improving to 5.25%; exports jumped to 25% of revenue; consolidated income up 45% but PBT only +18% due to ₹83 Cr loss from the Philippines ethanol plant.
Guidance
FY27 standalone revenue growth guided at 10-12%, manufacturing margins at 12-13% and projects margins at 5-6%; capacity expansion on track with full potential of ₹1,200 Cr annual revenue from FY29; Philippines plant to reach 90% utilization by December 2026.
Key themes
Conservative guidance and export expansion despite Philippines headwind
Research and educational content only. Not investment advice.