Isgec makes new 52-week high post receiving order for slop fired boiler from sugar industry company

Isgec Heavy Engineering announced today that it has received an order for a slop fired boiler from a prestigious company in the sugar industry for their distillery plant.   

This will help the distillery plant in achieving zero liquid discharge thereby, ensuring a cleaner and greener environment. It will also help the company in moving towards the ethanol blending initiative of the Government of India.  

Reacting to this, the company’s stock today increased by 3.83 per cent and made a fresh 52-week high of Rs 494.20 per share.  

Besides, the company reported a net profit of Rs 64.89 crore in Q3FY21, an increase of 3.18 per cent. It had reported a profit of Rs 62.89 crore in Q3FY20. The company reported net sales of Rs 1,392.46 crore for Q3FY21, a decrease of 17.4 per cent as against the net sales of Rs 1,685.72 crore for Q3FY20.  

Isgec Heavy Engineering Ltd is a heavy engineering company, engaged in manufacturing and project businesses with a global presence spread across 91 countries. During its operation in the past 88 years, it manufactures process equipment, presses, iron & steel castings, and boiler pressure parts.   

According to BSE data, the stock traded at a P/E multiple of 20.56 and a price-to-book ratio of 2.24. The stock has a 52-week high and a 52-week low of Rs 494.20 and Rs 205.05, respectively.  

At 1.03 pm today, the stock of Isgec Heavy Engineering Ltd was trading at Rs 476.50, up by 0.12 per cent on BSE.