ISGEC Heavy Engineering rises after order win

ISGEC Heavy Engineering rose 2.27% to Rs 850.85 after the company announced that its subsidiary and joint venture company has bagged an order for critical reactors for USA.

ISGEC on Wednesday announced that its joint venture company, Isgec Hitachi Zosen received an order for the supplying four reactors of vanadium modified low alloy steel, for a renewable energy project in USA. The scope of work includes mechanical design, material procurement, fabrication, testing, and supply of equipment.

The company said that this is the first order for ISGEC Hitachi Zosen, India for supplying such reactors to USA. The renewable energy project, which is under execution, will convert vegetable oils to synthetic transport fuels.

ISGEC Hitachi Zosen is a joint venture of ISGEC Heavy Engineering (ISGEC) & Hitachi Zosen Corporation, Japan (HITZ) located at the port town of Dahej, Gujarat on the west coast of India.

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 jumped 444.67% to Rs 68.52 crore on 4.03% increase in revenue from operations to Rs 1,617.70 crore in Q4 March 2021 over Q4 March 2020.

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