Buy ISGEC Heavy Engineering, target price Rs 880: ICICI Securities

economictimes.indiatimes.com:

ISGEC Heavy Engineering with a target price of Rs 880. The current market price of ISGEC Heavy Engineering is Rs 735.45.ISGEC Heavy Engineering Ltd., incorporated in the year 1933, is a Mid Cap company (having a market cap of Rs 5437.14 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 30-06-2023, the company reported a Consolidated Total Income of Rs 1398.82 Crore, down -31.71 % from last quarter Total Income of Rs 2048.39 Crore and up 11.88 % from last year same quarter Total Income of Rs 1250.26 Crore.

Company reported net profit after tax of Rs 52.52 Crore in latest quarter.Investment Rationale With an improving order inflow and better margins led by better job mix, the brokerage expects execution to pick up along with gradual improvement in profitability. Management guidance of double-digit revenue growth has also been factored into our estimates.