ISGEC Heavy Engineering Q4 Review - Good Visibility On Revenue Amid Margin Improvement: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.ISGEC Heavy Engineering Ltd.’s Q4 FY23 standalone revenue increased 4% YoY to Rs 14 billion aided by engineering, procurement and construction revenue growth of 8% YoY whereas manufacturing segment revenue declined 4% YoY. Improvement in the share of high-margin manufacturing business led to marginal improvement in Ebitda margin by 247 basis points YoY to 7.4%. We expect margins to see gradual improvement in the coming quarters with reduction in share of old and low-margin orders. ISGEC's orderbook grew to Rs 83.2 billion led by order intake growth of 72% to Rs 24.8 billion. Management indicated enquiry pipeline remains robust in both domestic and international product-segments. Key sectors which are witnessing traction are oil and gas, power (boilers), automobile, specialty chemical, steel and ethanol. Execution of biofuel plant in Cavite, Philippines, is on track and is expected to be operational by August 2023. We revise our estimates for FY24E and FY25E factoring-in the better order outlook and improving margins. .Click on the attachment to read the full report:.Greenply Industries Q4 Results Review - MDF To Boost Growth: Yes Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ISGEC Heavy Engineering Q4 Review - Good Visibility On Revenue Amid Margin Improvement: ICICI Securities

Strong intake in Q4 FY23 improves growth visibility.

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