ISGEC Heavy Engineering Ltd

ISGEC Heavy Engineering Ltd has announced the closure of its trading window for all designated persons. This closure is effective from July 01, 2026, and will remain in effect until 48 hours after the declaration of the unaudited financial results for the quarter ending June 30, 2026. The company is also freezing the PAN of designated persons at the security level on the NSDL portal, in line with SEBI regulations to prevent insider trading. Designated persons possessing Unpublished Price Sensitive Information (UPSI) are advised not to trade in the company's equity shares during this period.

ISGEC Heavy Engineering Ltd has successfully completed the sale of 5,00,000 equity shares, representing 25% of its paid-up share capital, in its joint venture company, Isgec SFW Boilers Private Limited, to its JV partner, Sumitomo SHI FW Energia Oy. The transaction, finalized on June 25, 2026, reduces ISGEC's shareholding from 51% to 26%. Consequently, the JV company ceases to be a subsidiary and is now classified as an associate company, while continuing as a joint venture. The sale consideration received by ISGEC is ₹4 crores. The JV company contributed 0.18% to consolidated turnover and 0.29% to net worth in FY25.

ISGEC Heavy Engineering Ltd issued a counter guarantee of USD 0.902 million (approximately ₹8.58 crores) through its bankers in favor of the bankers of its wholly-owned subsidiary, Isgec Eswatini (Proprietary) Limited, Eswatini. This follows an earlier approval on May 1, 2026, for guarantees up to USD 1.1957 million. The guarantee will enable Isgec Eswatini's bankers to issue performance and other bank guarantees to its customers and customs authorities for executing existing orders.

ISGEC Heavy Engineering Ltd's board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board recommended a dividend of ₹6 per equity share of Re.1 each for FY26, subject to shareholder approval. It also approved a ₹25 Crore capital expenditure for capacity addition at the Steel Castings division in Muzaffarnagar. The board revised the composition of the Committee of Directors and approved the issuance of additional corporate guarantees not exceeding ₹6550 Lakhs for its subsidiary, Isgec Titan Metal Fabricators Private Limited.

ISGEC Heavy Engineering Ltd's board approved a ₹25 Crore capital expenditure for capacity addition at its Steel Castings division in Muzaffarnagar, Uttar Pradesh. The board also recommended a dividend of ₹6 per equity share for FY26, subject to shareholder approval. Additionally, the board approved the issuance of corporate guarantees not exceeding ₹6550 Lakhs for Isgec Titan Metal Fabricators Private Limited to support working capital needs.

The Board of Directors of ISGEC Heavy Engineering Ltd recommended a dividend of ₹6 per equity share of Re.1 each for the financial year 2025-26. The dividend is subject to shareholder approval at the upcoming Annual General Meeting and will be paid within 30 days of declaration.

ISGEC Heavy Engineering Ltd's board approved the issuance of corporate guarantees not exceeding ₹6550 Lakhs (₹65.5 Cr) in favor of banks on behalf of its Joint Venture and Subsidiary, Isgec Titan Metal Fabricators Private Limited. This guarantee will enable the subsidiary to avail additional working capital limits to meet its operational requirements. The board also approved audited financial results for the quarter and year ended March 31, 2026, recommended a dividend of ₹6 per equity share, and approved a capital expenditure of ₹25 Crore for capacity addition of the Steel Castings division.

The Board of Directors of ISGEC Heavy Engineering Ltd recommended a dividend of ₹6 per equity share of Re.1 each for the financial year 2025-26. The dividend is subject to shareholder approval at the upcoming Annual General Meeting and will be paid within 30 days of declaration.

ISGEC Heavy Engineering Ltd. has been penalized ₹2,76,66,845 by the Office of the Commissioner of Customs (NS-V), Maharashtra, along with a demand for custom duty of the same amount plus applicable interest. The penalty and duty demand stem from a disagreement over HSN classification, with customs alleging the goods should have been assessed under HSN 87049012 instead of HSN 86012000. ISGEC intends to appeal the order under the Customs Act.

ISGEC Heavy Engineering Ltd. has received an order from the Assistant Commissioner/GSTO, Ward 62, Zone 5, Delhi, imposing a penalty of ₹2,20,112 and interest of ₹14,83,677, totaling ₹37,74,378. The penalty is related to alleged excess availment of Input Tax Credit for the FY 2022-23. ISGEC intends to file an appeal under the Goods and Services Tax Act.