Isgec Heavy Engineering Limited Q2 FY27 results: what the company reported
Isgec Heavy Engineering Limited filed its unaudited financial results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 4 November 2026. The comparison below uses the company's signed filing, not a market-price report.
Published 7 November 2026 · Potoos Research Services
In short. For July to September 2026, Isgec Heavy Engineering Limited reported consolidated revenue from operations of Rs 1,85,039 lakh, compared with Rs 1,66,176 lakh a year earlier (+11.4%). Consolidated profit for the period was Rs 6,619 lakh, compared with Rs 1,255 lakh (+427.4%). That year-ago figure was restated down from Rs 5,628 lakh as first reported, and this quarter was helped by a Rs 2,841 lakh depreciation change, so the jump is not like for like (details below). For the company on its own (standalone), profit for the period was Rs 11,814 lakh, against Rs 8,437 lakh (+40.0%).
The numbers
The filing reports amounts in Rs lakh. One lakh rupees is 1,00,000 rupees. The EPS row is in rupees per share, not in the table's main unit. EPS is not annualised. The percentage columns have been calculated from the stated figures in the original filing. All year-on-year comparisons are against the same quarter or half-year last year, not the preceding quarter.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | 1,85,039 | 1,66,176 | +11.4% |
| Total income | 1,85,964 | 1,69,625 | +9.6% |
| Profit before tax | 10,232 | 5,055 | +102.4% |
| Profit for the period | 6,619 | 1,255 | +427.4% |
| Basic EPS (Rs per share) | 7.67 | 0.03 | Very small base |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | 3,83,039 | 3,01,809 | +26.9% |
| Total income | 3,85,310 | 3,07,062 | +25.5% |
| Profit before tax | 15,522 | 9,565 | +62.3% |
| Profit for the period | 8,369 | 2,586 | +223.6% |
| Basic EPS (Rs per share) | 8.89 | 0.97 | +816.5% |
Compared with the immediately preceding April to June 2026 quarter (quarter-on-quarter), consolidated revenue from operations moved from Rs 1,98,000 lakh to Rs 1,85,039 lakh (-6.5%). Profit for the period moved from Rs 1,750 lakh to Rs 6,619 lakh (+278.2%). This is a different comparison from the previous-year column.
Isgec Heavy Engineering Limited on its own (standalone)
Standalone results cover Isgec Heavy Engineering Limited itself, without adding the subsidiaries and other group entities included in the consolidated figures. The statement uses the same Rs lakh unit.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | 1,45,658 | 1,24,313 | +17.2% |
| Total income | 1,52,083 | 1,29,276 | +17.6% |
| Profit before tax | 15,431 | 11,142 | +38.5% |
| Profit for the period | 11,814 | 8,437 | +40.0% |
| Basic EPS (Rs per share) | 16.06 | 11.47 | +40.0% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | 3,00,962 | 2,22,693 | +35.1% |
| Total income | 3,10,615 | 2,33,767 | +32.9% |
| Profit before tax | 27,717 | 22,333 | +24.1% |
| Profit for the period | 21,016 | 17,096 | +22.9% |
| Basic EPS (Rs per share) | 28.58 | 23.25 | +22.9% |
Against April to June 2026 (quarter-on-quarter), standalone revenue from operations changed -6.2% from Rs 1,55,304 lakh to Rs 1,45,658 lakh. Standalone profit changed +28.4% from Rs 9,202 lakh to Rs 11,814 lakh.
What the company said
These points come from the company's own filing with NSE: the results, the notes to them and the board meeting letter. They are not our forecasts.
- Last year's figures were restated. Note 7 says the overseas subsidiary Bioeq Energy Holdings One (Cayman Islands) was moved back from "discontinued" to "continuing" operations during January to March 2026. As first reported, July to September 2025 profit after tax from continuing operations was Rs 9,800 lakh, with a loss of Rs 4,172 lakh from discontinued operations (Rs 5,628 lakh in total). Restated, the quarter shows Rs 1,255 lakh, and depreciation for that quarter rose from Rs 2,664 lakh to Rs 7,037 lakh. (NSE filing, PDF p16)
- An overseas subsidiary changed its depreciation method from written-down value to straight line from 1 July 2026. The company says this lowered depreciation and raised group profit before tax by Rs 2,841 lakh in the quarter and the half year. Group depreciation was Rs 3,665 lakh this quarter, against Rs 7,037 lakh a year earlier. (NSE filing, PDF p16)
- Of the group's Rs 6,619 lakh profit, Rs 5,641 lakh belongs to Isgec's own shareholders and Rs 978 lakh to minority (non-controlling) shareholders of subsidiaries. A year earlier the split was Rs 22 lakh and Rs 1,233 lakh. EPS is worked out on the owners' share, which is why it moved from Rs 0.03 to Rs 7.67. (NSE filing, PDF p12)
- Why Isgec on its own earned more than the whole group: the auditors' report says seventeen subsidiaries reviewed by other auditors together made a net loss after tax of Rs 7,178.15 lakh in the quarter (Rs 15,685.01 lakh in the half year), as included in the group results. Those losses are in the group figures but not in Isgec's own figures. (NSE filing, PDF p10)
- In April to June 2026, Isgec cut its stake in SFW Isgec Energy Private Limited from 51% to 26%, so it is now an associate, not a subsidiary. The group booked a gain of Rs 373 lakh on this in that quarter (Rs 350 lakh standalone), so it sits in the half-year figures. (NSE filing, PDF p8 and 16)
The +427.4% rise in group profit is measured against a restated, much lower base and is helped by the depreciation change, so it is not a like-for-like operating comparison. Isgec on its own grew profit 40.0% on revenue up 17.2%.
What the auditors said
The figures are unaudited. The statutory auditors, SCV & Co. LLP, carried out a limited review of the standalone and consolidated results. A limited review is lighter than a full audit. For the consolidated results, they relied on other auditors' reviews of seventeen subsidiaries and two associates.
Dates
- Reporting period: 1 July to 30 September 2026 (Q2 FY27).
- Board meeting: 4 November 2026, from 11:00 to 15:10 IST.
- Filed with NSE: 4 November 2026 at 15:26 IST (the same document was filed again at 15:30 IST with a materiality-policy update).
- Dividend: none declared in this filing.
Reported unit: The filing reports amounts in Rs lakh. One lakh rupees is 1,00,000 rupees. The EPS row is in rupees per share, not in the table's main unit. EPS is not annualised.
Consolidated and standalone: consolidated results describe the group, while standalone results describe the listed company itself. Where only standalone results were included in the reviewed PDF, no consolidated results have been invented.
Profit before tax and profit for the period: profit before tax is stated before the tax expense shown in the results. Profit for the period is after the relevant taxes. It is not the same as sales or revenue.
EPS: earnings per share, stated in rupees per equity share. In group accounts, EPS generally uses the part of profit attributable to owners of the parent, not the total group profit that may include minority shareholders.
Q2 FY27: the second quarter of the financial year that runs from April 2026 to March 2027. Year-on-year compares with the same period in 2025. Quarter-on-quarter compares with April to June 2026.
Source
- Isgec Heavy Engineering Limited, board meeting outcome with unaudited financial results filed 4 November 2026, 15:26 IST. Read the original NSE PDF.
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. The financial figures above are transcribed from the original company filing, and each percentage is calculated from that filing's figures.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was Isgec Heavy Engineering Limited's revenue in Q2 FY27?
Consolidated revenue from operations was Rs 1,85,039 lakh for July to September 2026 against Rs 1,66,176 lakh a year earlier, a year-on-year change of +11.4%.
Did Isgec Heavy Engineering Limited's Q2 FY27 profit rise or fall?
Consolidated profit for the period rose to Rs 6,619 lakh from Rs 1,255 lakh, a year-on-year change of +427.4%. The year-ago figure was restated from Rs 5,628 lakh as first reported, and this quarter includes a Rs 2,841 lakh boost from a depreciation change at an overseas subsidiary. Compared with April to June 2026, the change was +278.2%.
What does the reported unit mean?
One lakh rupees is 1,00,000 rupees. Figures on this page are kept in Rs lakh, matching the filing.
Is this page a recommendation?
No. It reports the company's published financial results and is not a recommendation to buy, sell or hold securities.