This small-cap company declared stellar Q4FY23 results; do you own it?
The net profit of the company soared by 138 per cent from corresponding quarter last year.
On Tuesday, the shares of ISGEC Heavy Engineering surged 17.64 per cent to hit a new 52-week high of Rs 633.30 on BSE. The scrip witnessed a massive spurt in volume by more than 8 times.
ISGEC heavy engineering ltd reported their consolidated Quarterly Results for Q4FY23 wherein the company’s total revenue surged by 24 per cent on YoY basis from last year’s same quarter to Rs 20,484 crore.
The EDITDA level stood at Rs 1700 crore, witnessing a growth of 58 per cent from March 2022. In a similar fashion, the net profit of the company soared by 138 per cent from corresponding quarter last year at Rs 932 crore.
The final dividend of Rs 3 per share was declared by the company. Over a three-year period, the company’s profits increased by 35 per cent CAGR (Compound Annual Growth Rate). Additionally, the company ordered expansion of big mill and process house from a major sugar company.
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ISGEC Heavy Engineering Ltd is a diversified heavy engineering firm with a global presence engaged in manufacturing and project operations. They manufacture process plant equipment, presses, iron and steel castings and boiler pressure parts. Additionally, the company also performs turnkey projects. It also has a division that manufactures sugar and its by-products.
The stock has gained momentum in last 1 year at it has given more than 20 per cent returns. Keep a close eye on this trending stock.