Engineers India Reports Strong Q1 Results and Robust Order Book

Engineers India Ltd (EIL) recently reported strong quarterly results and secured a significant order, signifying a robust performance. The company’s net sales increased by 0.43%, to Rs 818.27 crore while its operating profit increased by 120.31% to Rs 164.73 crore and net profit surged by 126.02% to Rs 116.38 crore. This surge in profitability translated to earnings per share (EPS) of Rs 2.47 for Q1FY24. 

EIL also secured an order from Oil and Natural Gas Corporation Limited (ONGC) for the comprehensive revamping of SV stations, Gas Terminal & Kribhco Terminal at ONGC’s Hazira Plant. The project, valued at Rs 837.34 crore, is set to be executed on an Engineering, Procurement, and Construction (EPC) reimbursable [Open Book Estimate (OBE)] Basis, with a stipulated completion timeline of 45 months from the Letter of Intent (LOI). 

As of June 30, 2023, EIL’s order book stands at an impressive Rs 10,600 crore, showcasing a notable 17% increase from the order book of Rs 9,079 crore reported on March 31, 2023. 

On Friday, Engineers India Ltd (EIL) shares experienced a surge in their value. The stock is trading at Rs 147.60 per share, an increase of 0.34%. Throughout the trading session, the stock reached an intraday high of Rs 151.50 per share and a low of Rs 146.75 per share. 

Engineers India Ltd is a leading global engineering consultancy and engineering, procurement, and construction (EPC) company. Owned by the Government of India and managed under the aegis of the Ministry of Petroleum and Natural Gas (MoPNG). EIL specializes in offering comprehensive engineering consultancy and EPC services tailored to the oil, gas, and petrochemical industries. 

Investors have witnessed remarkable returns from EIL, with the stock generating a remarkable 115% increase in value within just one year. In stark contrast, the BSE Sensex Index experienced a comparatively modest growth of 12% during the same period. This notable outperformance underscores the company’s potential and underscores the importance of monitoring its progress. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.