ISGEC Heavy Engg jumps on bagging order for ethanol plants

ISGEC Heavy Engineering rose 3.52% to Rs 456.15 after the company said it bagged an order for 500 KLPD ethanol plant on syrup, and 100 KLPD ethanol/Extra Neutral Alcohol (ENA) plant on grain on turnkey basis.

The order is from Panchganga Sugar and Power in Maharashtra.

ISGEC Heavy Engineering is a diversified heavy engineering company. It manufactures process equipment, presses, iron & steel castings, and boiler pressure parts.

On a consolidated basis, the company's net profit zoomed 181.1% to Rs 29.57 crore in Q2 FY23 from Rs 10.52 crore reported in Q2 FY22. Net sales rose 9.9% year on year to Rs 1,512.53 crore in Q2 FY23.

 

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