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Latest news about Isgec Heavy Engineering

ISGEC Heavy Engineering Faces ₹31.91 Lakh Tax Penalty Over Input Tax Credit Dispute 4 days ago

ISGEC Heavy Engineering Limited faces a tax penalty totaling ₹31.91 lakh including interest, following an order from the Assistant Commissioner (Central Tax Division) in Jagadhri dated January 07, 2026. The penalty comprises ₹15.95 lakh in confirmed demand and an equal amount in penalty for allegedly wrongful availing of input tax credit on a supplier invoice. The company plans to file an appeal under the Goods and Services Tax Act to challenge this order.

Isgec Heavy Engineering Receives ₹1.71 Lakh Penalty from Central Tax Authority 10 days ago

Isgec Heavy Engineering Receives ₹1.29 Lakh CGST Penalty Order from Raipur Authority 10 days ago

ISGEC Heavy Engineering Receives GST Penalty Order Worth ₹17.33 Lakh from Tax Authorities 10 days ago

Isgec Heavy Engineering Faces ₹19.95 Crore GST Penalty from Central Tax Authorities Dec 31, 2025

More news about Isgec Heavy Engineering

31Dec 25

Isgec Heavy Engineering Subsidiary Saraswati Sugar Mills Gets Credit Rating Reaffirmation from ICRA

ICRA Limited reaffirmed credit ratings for Saraswati Sugar Mills Limited, Isgec Heavy Engineering's wholly owned subsidiary, maintaining [ICRA]A(Stable) and [ICRA]A1 ratings across ₹401.65 crores of facilities. The ratings cover cash credit facilities of ₹336.65 crores, term loans of ₹60.00 crores, and non-fund based facilities of ₹5.00 crores distributed across six banking partners including State Bank of India, ICICI Bank, and HDFC Bank. No changes were made from the previous ratings assigned in October 2024, indicating stable creditworthiness.

29Dec 25

ISGEC Heavy Engineering Announces Senior Management Change with Retirement of Mr. Suman Kumar Jain

ISGEC Heavy Engineering Ltd announced the retirement of Mr. Suman Kumar Jain from senior management, effective December 29, 2025. Mr. Jain was associated with the Air Pollution Control Equipment Business division. The company disclosed this change to stock exchanges under SEBI Regulation 30, clarifying that resignation letter requirements don't apply to retirement cases.

16Dec 25

ISGEC Heavy Engineering Faces ₹78.88 Lakh GST Penalty for Alleged Tax Credit Violations

Isgec Heavy Engineering Limited received a penalty order from Gujarat State GST authorities, totaling ₹78.88 lakh. The order includes a tax demand of ₹24.58 lakh, an equal penalty, and interest of ₹29.71 lakh. The company is accused of claiming ineligible Input Tax Credit from cancelled, non-genuine, non-existent taxpayers and return defaulters. Isgec plans to appeal the order under the Goods and Services Tax Act.

08Dec 25

Isgec Heavy Engineering Bolsters IT Leadership with New CIO Appointment

Isgec Heavy Engineering Limited has appointed Mr. Manzar Abbas as its new Chief Information Officer (CIO), effective December 8, 2025. Abbas brings 25 years of experience in IT strategy and digital transformation, with expertise in Industry 4.0, SAP S/4 Hana, and Cyber Security. This appointment aims to enhance the company's technological capabilities and drive digital transformation initiatives. Abbas's background includes senior leadership roles at Orient Electric Limited, Rockman Industries Limited, and Mother Dairy, and he holds a Bachelor of Engineering in Electronics and Communications from Bangalore University.

19Nov 25

ISGEC Heavy Engineering Reports 3% Revenue Growth, Plans INR 87 Crore Investment in New Facility

Isgec Heavy Engineering Limited reported a 3% increase in consolidated revenue to INR 1,725 crores for the quarter ended September 2025. The company's order book grew to INR 8,789 crores, with strong performance across manufacturing and project segments. The Board approved an INR 87 crore investment for a new facility in Dahej SEZ to manufacture skids and modules. The order book is diversified across sectors, with 26% from exports. Growth is seen in metals, oil and gas, automobiles, cement, and core infrastructure sectors, though demand for air pollution control equipment is muted.

14Nov 25

Isgec Heavy Engineering Successfully Incorporates Subsidiary in Eswatini

Isgec Heavy Engineering has successfully completed the incorporation of its wholly-owned subsidiary in Eswatini, marking a key milestone in its African expansion strategy. The subsidiary, named Isgec Eswatini (Proprietary) Limited, was incorporated on December 10, 2025, following the company's earlier announcement in November about establishing presence in the African nation.

31Oct 25

ISGEC Heavy Engineering's Independent Director Sidharth Prasad to Conclude Second Term

Isgec Heavy Engineering Limited has announced that Mr. Sidharth Prasad's tenure as an Independent Director will conclude on October 31, 2025, marking the end of his second term. The company assures that the Board's composition will remain compliant with listing regulations despite this change. The Board and Management have expressed appreciation for Mr. Prasad's contributions during his association with the company. This announcement has been made in compliance with SEBI LODR Regulations.

06Oct 25

Isgec Heavy Engineering Completes 26% Stake Acquisition in Solar Power Venture

Isgec Heavy Engineering has successfully completed its acquisition of 26% equity stake in FPEL HR1 Energy Private Limited on December 17, 2025. The solar power venture involves a 50 MWp DC / 75 MW AC project in Sirsa District, Haryana, representing the company's strategic move into renewable energy for cost optimization and sustainability goals.

17Sept 25

Isgec Heavy Engineering's 92nd AGM: All Resolutions Passed, Key Management Changes Approved

Isgec Heavy Engineering Limited held its 92nd Annual General Meeting on September 16, 2025. The virtual meeting saw 80.97% voting turnout, with shareholders approving all ten resolutions. Key outcomes include adoption of financial statements, declaration of Rs. 5.00 per share dividend, appointment of new independent directors Rajiv Roy Chaudhury and Vivek Dhir, and re-designation of Kishore Chatnani and Sanjay Gulati as Joint Managing Directors. The company also ratified cost auditor remuneration and appointed M/s Pramod Kothari & Co. as Secretarial Auditor.

15Sept 25

Isgec Heavy Engineering's Subsidiary Sale Collapses as Buyer Defaults on Payment

Isgec Heavy Engineering Ltd.'s planned divestment of its step-down subsidiary Bioeq Energy Holdings One has fallen through. The buyer, Triumph Excel Limited, failed to meet payment obligations and other commitments under the Sale and Purchase Agreement by the final deadline of September 15, 2025. The transaction, which had already seen multiple extensions, would have involved the disposal of Isgec Investments Pte. Ltd.'s entire shareholding in Bioeq Energy Holdings One, affecting seven companies across Singapore, Netherlands, and Philippines.

05Sept 25

Isgec Heavy Engineering Revises Dividend Record Date to September 09, 2025

Isgec Heavy Engineering Limited has changed its dividend record date from September 08, 2025, to September 09, 2025. This change was prompted by the RBI declaring September 08 a clearing/settlement holiday and a request from the NSE. Shareholders on the register as of September 09, 2025, will be eligible for the dividend. The company has informed relevant authorities and updated its website with this information.

26Aug 25

Isgec Heavy Engineering Reports 22% Revenue Decline in Q1, Maintains Strong Order Book

Isgec Heavy Engineering's Q1 results show a 22.2% year-on-year decline in total income to Rs 13,588.00 million, with PAT falling 32.9% to Rs 639.00 million. EBITDA margin improved to 10.2% from 8.9%. All three business segments experienced revenue declines. The company secured new orders worth Rs 22,370.00 million, maintaining a robust order book of Rs 90,120.00 million. The order book is diversified across sectors, with 83% domestic orders and 78% from private sector clients.

13Aug 25

ISGEC Heavy Engineering Reports Mixed Q1 Results Amid Challenging Market Conditions

Isgec Heavy Engineering Ltd. reported a 12.8% decrease in Q1 consolidated revenue to ₹1,34,099.00 lakhs and a 12.7% drop in net profit to ₹5,863.00 lakhs. EBITDA fell by 13% to ₹13,800.00 lakhs, but the EBITDA margin remained stable at 10.3%. The company's performance varied across its segments, with Manufacturing of Machinery & Equipment and Industrial Projects being the largest contributors. Despite challenges, the company maintains a strong order book and is focusing on operational efficiency and growth initiatives. A dividend of ₹5.00 per equity share has been recommended for FY ended March 31.

08Aug 25

Isgec Heavy Engineering Faces Rs 23.87 Lakh Tax Penalty from Haryana Authorities

Isgec Heavy Engineering Limited has been penalized Rs 23,87,276 by Haryana tax authorities for disallowed Input Tax Credit claims. The penalty, imposed by the Deputy Excise and Taxation Commissioner in Jagadhari, Ambala, includes IGST (Rs 11,87,053), CGST (Rs 6,00,112), and SGST (Rs 6,00,112). The company received the order via email on August 7, 2025, and disclosed it to stock exchanges on August 8, 2025, in compliance with SEBI regulations. Isgec has not yet commented on potential appeals or financial impacts.

15Jul 25

Isgec Heavy Engineering Extends Bioeq Energy Holdings Sale Deadline to September 2025

Isgec Heavy Engineering has extended the deadline for selling its step-down subsidiary, Bioeq Energy Holdings One, to September 15, 2025. The two-month extension is due to procedural delays on the buyer's side, including challenges in obtaining approvals and securing funds. The sale, initially agreed on December 9, 2024, involves Isgec's entire shareholding in Bioeq Energy Holdings One and its subsidiaries. The transaction, valued at approximately USD 31 million, will result in seven entities ceasing to be step-down subsidiaries or associates of Isgec. The company has committed to providing further updates as the situation progresses.

02Jun 25

ISGEC Heavy Engineering Resumes Operations at Uttar Pradesh Factory Following NGT Approval

ISGEC Heavy Engineering has been granted permission by the National Green Tribunal (NGT) to resume operations at its factory in Village Nara, Uttar Pradesh. This decision follows a previous closure of the unit. The reopening suggests that the company may have addressed environmental concerns, though details about the initial shutdown are not provided. The resumption of activities is expected to impact local employment and the company's production capabilities.

29May 25

ISGEC Heavy Engineering Reports 16.5% Surge in Q4 Net Profit, Revenue Dips

ISGEC Heavy Engineering's Q4 consolidated net profit increased by 16.5% to ₹981.00 million, despite a 7% revenue decline to ₹17,400.00 million. Operating profit rose 10.8% to ₹904.00 million, with the operating profit margin improving to 5.20%. For the full fiscal year, the company's net profit grew 24% to ₹2,549.00 million, while total revenue slightly decreased by 2.6% to ₹62,452.00 million. Earnings per share improved to ₹33.14, up 24% from the previous year.

27Feb 25

Nippon India Mutual Fund Boosts Stake in ISGEC Heavy Engineering Amid Mixed Stock Performance

Nippon India Mutual Fund has increased its stake in ISGEC Heavy Engineering to 5.96%, a 1.13% rise, through open market transactions. The stock has shown mixed performance, gaining 5% in the past week but declining 32% year-to-date. This move by the institutional investor comes despite the overall negative performance of the stock in 2023, potentially signaling confidence in the company's future prospects.

20Feb 25

Isgec Heavy Engineering: Nippon India Small Cap Fund Acquires 1.13% Stake Amid Q3 Profit Decline

Nippon India Small Cap Fund acquired a 1.13% stake in Isgec Heavy Engineering for Rs 76.3 crore, while Goldman Sachs India Equity Portfolio exited its 1.41% position. The company's Q3 FY2024 net profit fell 65% to Rs 23.1 crore due to losses from its new ethanol plant in the Philippines. Revenue slightly increased to Rs 1,501 crore, but EBITDA and operating profit declined. Challenges include increased interest expenses and higher tax outgo.