HO-425-S Date: 12.08.

2022

To, To,
The BSE Ltd. National Stock Exchange of India Limited
Registered Office: Floor 25, Exchange Plaza, C-1, Block G,
P J Towers, Dalal Street, Bandra Kurla Complex, Bandra (E)
Mumbai – 400 001 Mumbai – 400 051
Company Scrip Code: 533033 Company Symbol: ISGEC

Dear Sir/Madam,
Furnishing of Information as per
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Sub: Investor Presentation on financial performance of the
quarter ended June 30, 2022.
1. This is further to our letter dated August 10, 2022, wherein we had given an advance
intimation of the upcoming Investor Conference Call organised by the Company on August
12, 2022 at 15:00 hours (IST) to discuss the financial performance of the Company of the
quarter ended 30th June 2022.

2. In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, please find enclosed herewith a copy of Investor Presentation on the
financial performance of the quarter ended 30th June 2022, which would be shared with the
Investors.

3. This Investor Presentation is also available on the website of the Company www.isgec.com.

4. The above is for your information and records, please.

Thanking you,

For Isgec Heavy Engineering Limited

Shweta Digitally signed by
Shweta Agrawal

Agrawal Date: 2022.08.12

10:49:08 +05'30'

Shweta Agrawal
Company Secretary & Compliance Officer

Encl: as above
 Isgec Heavy Engineering Ltd.
Investor Presentation
Q1FY2023

03 February 2020 1
 Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Isgec Heavy Engineering Limited (the
“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase
or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment
whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed
information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the
Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy,
completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not
contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from this
Presentation is expressly excluded.
This presentation contains certain forward looking statements concerning the Company’s future business prospects and business
profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such
forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India
and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our
international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy.
The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect
in future or update any forward looking statements made from time to time by or on behalf of the Company.

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 Contents

1 Company Overview
2 Investment Rationale
3 Financial Highlights
4 Annexures

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3
 Contents

1 Company Overview

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 Isgec at a glance
Diversified Heavy Engineering Company Robust Order Book, with strong credit
Mix of Manufacturing and Project (EPC) Businesses profile
Wide Spectrum of User Industries Stands at INR 77,359 Mn as on 30th June 2022
Mix of Domestic & Export Revenues Strong Credit Rating

Highly Experienced Management Global reach

89 years of providing engineering solutions to Presence across 91 countries across 6 continents
customers globally

Strong Human Capital Trusted Partner

4000+ Employees across locations in India, Technology tie-ups and JVs with leading global
Canada, USA and Philippines Companies
900+ qualified engineers

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 89 years of Isgec
Incorporated in 1933 as a Sugar Manufacturing Company. Transformed into a Diversified Heavy Engineering
Company with 87% Consolidated Revenues coming from Engineering Products and Projects
1933-2010 2011-2021

1933 Company (erstwhile named as

Saraswati Sugar Syndicate Ltd) 2007 Design office starts at Chennai.
Company turnover crosses
2012 JV with Hitachi Zosen
Corporation, Japan for 2018 Company acquired 100% stake
in Eagle Press & Equipment Co.
was Established. manufacturing specialized and Ltd., a Press manufacturing
INR 10,000 mn. company in Canada.
critical process equipment
1946 Indian Sugar & General Engineering
2008
(51% share with Isgec).
2020 Company
Corporation (Isgec Heavy Company is listed in Group B of turnover crosses
Company turnover crosses
Engineering Limited) established to the Bombay Stock Exchange. INR 58,000 mn.
INR 30,000 mn.
address the need for Indian Capital New plant at Dahej, Gujarat set
Goods Industry. up to manufacture heavier and

1963 The Saraswati Sugar

bigger process plant equipment
for the overseas market. 2015 JVs with Sumitomo SHI FW
Energia, Oy , USA; TITAN Metal 2021 Company shares got listed on
National Stock Exchange and
amalgamated with Isgec. Fabricators, USA and Redecam, Commissioning of Ethanol Plant

1965 Isgec John Thompson Ltd. 2009 New factory for Standard
Presses is set up at Bawal, near
Italy . at Saraswati Sugar Mills,
Yamunanagar.
(IJT) is formed for designing, Gurgaon (Haryana) India.
supplying, erecting and Company Turnover crosses INR
providing after sales service 20,000 mn.
of boilers.
2010 Design office starts at Pune.

1967 Presses Division formed.

1973 Isgec John Thompson Ltd (IJT)

amalgamated with Isgec.

1981 Company acquires a Castings

Unit.

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 Manufacturing Facilities

Yamunanagar, Haryana Muzaffarnagar, UP Isgec Hitachi Zosen Ltd.,

Pressure Vessels & Heat Steel Castings Dahej, Gujarat
Exchangers, Presses, Pressure Vessels, Columns,
Boilers, Containers, Heat
Castings, Sugar and other Exchangers, Reactors
Industrial Machinery

Rattangarh, Haryana Overseas Facility

Boiler Components, Cavite Biofuel Producers
Headers, EPC Offices
Noida, UP
Inc. (CBPI)
Reactors, Piping Philippines
Chennai, Tamil Nadu
Pune, Maharashtra

Bawal, Haryana Saraswati Sugar Mills Overseas Facility

Mechanical Presses and Ltd., Yamunanagar, Eagle Press & Equipment
other Industrial Haryana Co. Ltd.
Machinery Sugar Mill & Ethanol Unit Windsor, Canada
Presses

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 Experienced Board

Mr. Ranjit Puri Mr. Aditya Puri Mr. Kishore Chatnani Mr. Sanjay Gulati
Chairman Managing Director Whole-time Director and Whole-time Director and
Chief Financial Officer Head – Manufacturing Units
Education: B.Sc. Industrial Education: B.A. (Hons.) from St. Education: B.E (with specialization Education: B.E (with specialization
Management from MIT, USA. Stephen’s College, India, and M.A. in Industrial Production in Industrial Production
Economics from Cambridge Engineering) from University of Engineering) from SGSITS, Indore.
Experience: 60 years of rich and University (U.K.) Nagpur, India and MBA (with
versatile experience in the company. specialization in Finance), from the Experience: Over 30 years of
Guiding the Company and its Experience: Over 30 years of IMS, Indore University, India experience in marketing, exports,
Executive Management for the past experience with the company. Joined manufacturing, projects and
many decades. Has played a pivotal the company as Controller of Finance Experience: Over 30 years of planning, HR & administration,
role in the development of the sugar and has worked his way up to be the experience in finance, operations, greenfield projects, joint ventures,
industry in India, both as a Managing Director. On the Board of treasury, investment management, and team leadership. Is also the
manufacturer of sugar, as well as a
other group companies M&A. With the Company since 1998 Managing Director of Isgec Hitachi
manufacturer of sugar plants &
Zosen Ltd., a JV company
machinery. On the Board of other
group companies

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 Experienced Board

Mr. Vishal Kirti Mr. Sidharth Prasad Mr. Arvind Sagar Mrs. Rashi Sikka
Keshav Marwaha Independent Director
Independent Director
Independent Director
Independent Director
Education: A C.A and B.Com Education: B.Com from Lucknow Education: B.Tech. in Mechanical Education: PGD in Management
(Honours) from the University of Delhi, University, and an Executive MBA Engineering from IIT (Banaras Hindu (Finance) from IIM, Kolkata, and
India from IIM, Lucknow University), Varanasi, and PGDBM in B.Com (Hons.) from Delhi University
Operations & Marketing from XLRI
Experience:: Over 25 years of Experience: Over 25 years of Jamshedpur Experience: Over 5 years of working
experience, especially in Private experience as an Industrialist, running experience in Banking and Credit
equity and Investment Banking Sugar Plants and Hospitality Experience: Over 30 years of Rating. Expertise in financial
businesses. Is also on the Board of experience in process excellence, management, financial investments,
various other companies change management, business financial control, taxation, and HR
consulting, program management development
and operations, and supply chain
management

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 Contents

2 Investment Rationale

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 Investment Rationale

1
Diversification to
2
Rich Technology
3
Strong Credibility
4
Robust Order
its Core Capabilities among clients Book

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 1. Diversified Business Model
Isgec is a significant global player across business areas in Manufacturing and EPC

Manufacturing (29% revenue) * EPC (58% revenue) *

Process Equipment Sugar Plants & Distilleries

Iron & Steel Castings Air Pollution Control Equipment

Industrial Boilers
Boiler Tubes & Panels
Power Projects
Presses
Bulk Material Handling
Contract Manufacturing
Buildings & Factories

Liquified Gas Containers Industrial Wastewater Treatment

Sugar and Ethanol contribute 13% to Consolidated Revenue *

* Based on consolidated numbers
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 Diversified across Sectors
Composition by Industry

Others
15% Power
Railways Power Fertilizer Cement Mines
28%

Steel,
Cement &
Aluminum
14%

Ports Oil & Gas Steel Chemical Space Chemicals,

Petrochemicals
& Fertilizers Sugar
6% 15%

Railways
Refineries 5%
Automobiles Defence Sugar Distillery Paper Water Treatment 17%

Order Book Rs. 77,359 mn

Comfortably placed to counter the Cyclicality of any specific industry
(as on 30.06.2022)
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 Diversification across Geographies
Presence in 91 countries across 6 continents,

Global India

75% 77% 77% 82%

90%

25% 23% 23% 18%

10%
FY18 FY19 FY20 FY21 FY22

Exports contributed 10% of revenue, and ~14% of the total orderbook

Exports expected to pick up as travel has opened up after COVID

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 Building Strength with JVs & Acquisitions

Saraswati Sugar Mills Ltd. Eagle Press & Equipment Co. Ltd.
With cane crushing capacity of 100% Press manufacturing company in
~ 10000 TCD, having highest Windsor (Ontario) Canada
sugar recovery in Punjab and
Haryana for the past 10 years,
Cavite Biofuel Producers Inc.
Recently added 100 KLPD 90% .(Stepdown Subsidiary of
Ethanol unit
Isgec Investments Pte. Ltd.)
Bioethanol Plant under construction in the Philippines
51%

Isgec Hitachi Zosen Ltd. Isgec Titan Metal Fabricators Pvt. Ltd. Isgec SFW Boilers Pvt. Ltd. Isgec Redecam Enviro Solutions Pvt. Ltd.

JV with Hitachi Zosen Corp., JV with Titan Metal Fabricators, JV with Amec Foster Wheeler JV with Redecam, Italy to
Japan to manufacture specialized USA to manufacture corrosion- (now Sumitomo SHI FW Energia, manufacture, test, & commission of
& critical Process Equipment resistant Process Equipment Oy, Finland) to engineer their Bag Filters
Global Boiler Projects
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 Investment Rationale

1
Diversification to
2
Rich Technology
3
Strong Credibility
4
Robust Order
its Core Capabilities
among clients Book

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 2. Technology Infusion across the Years
1964 1985 1998 200 200 2010 2012 2016 2017 2020 2021
6 9
Babcock
John Thompson, Power USA
UK Wet FGDs
Boilers Envirotherm, Germany
ESPs Riley
HITZ Power USA
Critical Process BHI FW Corporation USA,
Process
Rovetta Presse, Italy Equipment Combustion modification
Fired
Mechanical Presses of Tangentially Fired
ABB Lummus AP&T Heaters
Heat Transfer Boilers
Hot Stamping
Helixchangers presses

Fuel Tech, USA

NOx solutions
Foster Wheeler,
USA, (Now
SIEMENS Heat Sumitomo SHI FW
Sumitomo SHI FW
Foster Wheeler North Transfer Energia OY, Finland
Energia, Oy) Semi-Dry FGD
America Corporation (Now Technology, The
CFB Boilers
BHI FW Corporation,USA) Netherlands
Pulverised coal fired Boilers HRSGs

Tei USA
Waste Heat Boilers,
HP Heat
Exchangers
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 Standing Strong with Global Quality Benchmarks
Conformitè Europëenne Quality Management System–Approved by Lloyds
Register of Quality Assurance

Environment Management Occupational Health & Safety Management

System-Approved by DNV GL System
Business Assurance

National Board, USA, 'R’ Symbol,

'S' 'U' 'U-2' & 'U-3' Stamps ‘NB’ Mark

Approval for Liquefiable

Class I fabricator of Fusion Gas Containers
Welded Pressure
Approved Foundry from
Lloyd’s Register of Shipping

Approved fabricator for fusion

welding– Approved by
Lloyd’s Register
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 Investment Rationale

1
Diversification to
2
Rich Technology
3
Strong Credibility
4
Robust Order
its Core Capabilities among clients Book

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 3. Positioned at No.1 / No. 2 in most
Business Lines
Reactors and Critical Equipment for Refinery,
Hydraulic & Mechanical Presses
Petrochemical and Fertilizer Sectors
Sugar Plants Oil & Gas Boilers
Circulating Fluidized Bed Boiler Bubbling Bed Boilers
Traveling Grate Boilers Made to order large steel castings
Liquefiable Gas Containers Slop Fired Boilers

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 Serving Marquee Clientele

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 Investment Rationale

1
Diversification to
2
Rich Technology
3
Strong Credibility
4
Robust Order
its Core Capabilities among clients Book

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 4. Robust Order Book
In INR Mn

77,359
73,220
69,350 67,650

FY20 FY21 FY22 30.06.22

Figures as per consolidated financials

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 Order Book Composition (Consolidated)
Others
15%
Private Power
58% 28%
PSU &
Government
42% Sector wise Steel, Cement &
Aluminum
14%

Industry wise
Chemicals, composition
Manufacturing Petrochemicals &
Export Fertilizers Sugar
27%
14% 6% 15%
Segment
Geography wise
Railways
wise
Projects 5%
Refineries
73% 17%
Domestic
86%

03 February 2020
Order Book Rs. 77,359 mn (as on 30.06.2022)
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 Contents

3 Financial Highlights

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 Performance Highlights
In INR Mn

Revenue EBITDA PAT

15,973 1,076 392
11,335 12,502 753
534 YoY
YoY QoQ YoY QoQ 138 QoQ 180
10% 22% 41% 30% 31% 54%

Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23

In INR Mn

Revenue EBITDA PAT

59,142 5,067 2,531

54,773 55,126
50,507
3,350 3,567 3,246 1,440 1,491
1,150

12,502 753
180

FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23
FY19 FY20 FY21 FY22 Q1FY23

Figures as per consolidated financials

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 Performance Highlights
In INR Mn

EBIDTA Margin EBIT Margin PAT Margin

6.7% 5.0% 2.5%
6.0%
4.7% 3.9%
2.6% 1.2% 1.4%

Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23

In INR Mn

Manufacturing EBIT Margin EPC EBIT Margin Sugar EBIT Margin

13.1%
10.5% 5.4%
9.2% 5.0% 10.2% 9.7%
6.9% 3.7% 3.9% 8.3%
5.2% 2.9%
4.1%
3.6%

FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23

Figures as per consolidated financials

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 Highlights of new orders booked
• 3 Gas/Waste Heat Recovery Boilers from a leading refinery
• Order for Dry Sorbent Injection Package from State Run Power
generation company
• Repeat Export Order for a Press Tandem Line from largest automobile
manufacture in Vietnam
• Export Order for a Milling Tandem from Sugar Sector
• Falling Film Evaporator in Zirconium material for a ECH plant
• Crude Distillation Column and Vacuum Distillation Column for Cauvery
Basin Refinery Project from a Leading Refinery

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 Financial Performance Trend
Total Debt/ Equity Interest Coverage Ratio Fixed Asset Turnover ratio

0.5 0.5 7.5 7.6

0.5 0.5 9.9 6.8
6.3
8.1 5.3
6.2
0.2 3.4
2.5

FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23

Total Debt includes all interest bearing liabilities Interest coverage ratio= EBIT/Interest Fixed asset turnover= Operating Revenue/Average fixed assets

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 Contents

4 Annexures

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 Shareholder Information
Shareholding structure – 30th June 2022
Shareholder Information as on 30th June 2022
Promoter
BSE Ticker 533033
NSE Symbol ISGEC
27.8% Mutual Funds
Market Cap (INR Mn) 35,941
% Free- float 38%
FPIs Free Float Market Cap (INR Mn) 13,503
0.4%
2.4%
62.4% Shares Outstanding (Mn) 73.5
7.0% AIF/FI/Banks/Insura 3M ADTV (Shares) 46,877
nce Companies
3M ADTV (INR Mn) 24.4
Others Industry Industrial Machinery

Promoter shares are unencumbered

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 THANK YOU
ISGEC HEAVY ENGINEERING LIMITED, INDIA
chatnani@Isgec.com | www.isgec.com
Registered Office
Radaur Road, Yamunanagar - 135001, Haryana, India
CIN No.: L23423HR1933PLC000097

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