ISGEC Heavy Engg jumps on bagging order

ISGEC Heavy Engineering rose 4.73% to Rs 578 after the company said it bagged a large order for waste heat recovery boilers from Shree Cement.

Shree Cement has ordered cement waste heat recovery boilers for their 3.8 MTPA clinker capacity, integrated cement plant at Nawalgarh in Rajasthan.

The scope of work includes designing, manufacturing and supplying of PH boiler in the pre heater exhaust and AQC boiler in the cooler exhaust. These will be one of the world's largest capacity cement waste heat recovery based green energy steam generation plants and will be used for generating 35.5 MW of power.

The current order for the Nawalgarh site will be the third project that ISGEC has received from Shree Cement.

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 declined 29.01% to Rs 47.03 crore while sales remained almost flat at Rs Rs 1,395.58 crore in Q3 FY22 over Q3 FY21.

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