Whalesbook
ISGEC Heavy Engineering shareholders have overwhelmingly re-appointed key management personnel for another five-year term, signaling strong confidence in leadership continuity. The voting concluded on March 28, 2026, with results confirming the re-appointments through a postal ballot.
Managing Director Aditya Puri received 90.79% of votes in favour. Joint Managing Directors Kishore Chatnani and Sanjay Gulati secured near-unanimous support with 99.97% each, while Independent Director Arvind Sagar was re-appointed with 91.73% of the votes.
Mr. Puri's new term begins May 1, 2026. Mr. Chatnani, Mr. Gulati, and Mr. Sagar start their new five-year tenures on June 28, 2026. Remuneration limits were set for Mr. Chatnani at a maximum of ₹3.52 crore annually, for Mr. Gulati at ₹3.53 crore annually, and for Mr. Puri at 2.5% of the company's net profits.
This strong backing ensures the stability needed for ISGEC to maintain its strategic direction, execute operations smoothly, and keep investor confidence high, especially with its global reach and long-term projects.
Established in 1933, ISGEC Heavy Engineering is a significant player in the heavy engineering sector. The company manufactures process plant equipment, presses, castings, and boilers, alongside undertaking large Engineering, Procurement & Construction (EPC) projects worldwide.
The company has recently reported strong financial results, with significant year-on-year profit growth and a substantial order book. As of recent disclosures for FY26, ISGEC's consolidated order book stood at INR 8,709 crores. For Q3 FY26, the company reported consolidated Net Profit of ₹69.78 Cr and Revenue of ₹1,756.35 Cr. The company also maintained low interest expenses, spending less than 1% of operating revenues for the year ending March 31, 2025.
However, ISGEC and its subsidiary have faced regulatory challenges. These include GST penalty orders and an income tax demand of ₹18.80 crore on Saraswati Sugar Mills Ltd., which are currently under appeal.
Investors will monitor the outcomes of these appeals closely, as well as the effective start dates for the directors' new terms in May and June 2026. The company's ability to implement long-term strategies, scale revenue, leverage global partnerships, and continue its growth trajectory will also be key areas of focus.