ISGEC Issues ₹6100 Lakhs Comfort Letters for JV/Subsidiary
ISGEC Heavy Engineering Ltd has issued Letters of Comfort for a cumulative amount of ₹6100 lakhs (₹61 Crore) in favor of the bankers of its Joint Venture and Subsidiary company, Isgec Titan Metal Fabricators Private Limited. This follows an earlier intimation regarding corporate guarantees not exceeding ₹6550 lakhs. The Board of Directors also approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with unmodified audit opinions. A dividend of ₹6 per equity share for FY25-26 was recommended, subject to shareholder approval. Additionally, the company approved a capital expenditure of ₹25 Crore for capacity addition in its Steel Castings division and revised the composition of its Committee of Directors.
Key Highlights
- Issued Letters of Comfort totaling ₹6100 Lakhs for subsidiary Isgec Titan Metal Fabricators.
- Approved audited financial results for Q4/FY26 with unmodified auditor opinions.
- Recommended a dividend of ₹6 per equity share for FY25-26.
- Approved ₹25 Crore capex for Steel Castings division capacity expansion.
- Revised composition of the Committee of Directors.
Price Impact
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