ISGEC Heavy Engg bags order for two gas fired boilers from Indian Navy

ISGEC Heavy Engineering said that it has bagged an order for two gas fired boilers from Naval Project, Indian Navy.

The scope of work includes manufacturing of two 40 tons per hour (TPH) boilers on a turnkey basis. The announcement was made after market hours yesterday.

With over 850 high capacity and high-pressure boiler installations across 48 countries, Isgec's boiler business vertical has wide experience in process, cogeneration, captive power, and independent power plants, with a wide variety of fuel options ranging from agri-waste to oil & gas.

ISGEC Heavy Engineering is a diversified heavy engineering company engaged in manufacturing and project businesses with an extensive global presence.

The company's consolidated net profit dropped 66.93% to Rs 13.63 crore on a 5.38% increase in net sales to Rs 1128.38 crore in Q1 FY22 over Q1 FY21.

The scrip rose 0.70% to Rs 689.20 on the BSE. On a year-to-date (YTD) basis, the stock has zoomed 109.30% while the benchmark Sensex has added 17.42% during the same period.

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