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Engineers India Limited (ENGINERSIN)

₹273.45 -1.30% last close, 16 Oct

📊 NSE: ENGINERSIN 🏢 Engineering - Turnkey Services 📢 Latest filing: 23 Sep 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 30 Oct 2026 (board meeting)

Engineers India Limited's board meets on 30 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Engineers India's revenue was ₹820 Cr (-5.8% year on year, -11.5% on the previous quarter), and net profit ₹158 Cr (+141.5% year on year); the operating margin was 15.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹820	-5.8%	-11.5%
Operating profit	₹126	+75.4%	-16.8%
Net profit	₹158	+141.5%	-19.4%
EPS (₹)	2.81	+142.2%	-19.3%
Operating margin	15.4%	—	—

Full quarterly financials → Results calendar →

ENGINERSIN delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 43.08% of the ENGINERSIN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 32.59%. The price fell 1.30% on that unusually high delivery, the pattern the delivery dashboard labels distribution. Volume was 0.4 times its average, well below normal.

43.08%Delivery, 16 Oct

32.59%Own 20-session average

0.4×Volume vs its average

₹273.45NSE close · -1.30%

Delivery in the last 5 sessions: 41.4% · 32.1% · 31.8% · 43.9% · 43.1%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Engineers India Discloses Rs 5.31 Lakh Fine Each from NSE & BSE for Board Composition Non-Compliance

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 23 Sep 2026, 04:46 PM

Engineers India Limited has informed the stock exchanges regarding comments from its Board on fines levied by both NSE and BSE. Each exchange levied a fine of Rs 5,31,000 (inclusive of 18% GST) for non-compliance with Regulation 17(1) of SEBI LODR during the quarter ended March 31, 2026. The non-compliance arose due to a shortfall of requisite Independent Directors, including a woman Independent Director. As a PSU, director appointments rest with the Ministry of Petroleum and Natural Gas (MoPNG), and the company has requested a waiver.

NSE and BSE levied fines of Rs 5,31,000 each (inclusive of 18% GST) for Regulation 17(1) non-compliance.
Non-compliance covers 90 days for the quarter ending March 31, 2026, calculated at Rs 5,000 per day.
Issue stems from lack of requisite Independent Directors, including a woman Independent Director.
Board reviewed the matter in its 397th meeting on August 13, 2026, and instructed follow-up with MoPNG.

💡 Monitor upcoming board appointments made by the administrative ministry (MoPNG) to resolve board composition compliance.

EIL Wins >$450M PMC/EPCM Order for Dangote's 700,000 BPD Kenya Refinery

🟢 POSITIVE ⭐ 10/10

EXPANSION 📅 22 Sep 2026, 12:08 PM

Engineers India Limited (EIL) has signed a contract valued in excess of US$ 450 Million (~Rs 3,750+ Cr) with the Dangote Group to act as PMC and EPCM Consultant for a new 700,000 BPD greenfield refinery and petrochemical plant in Kenya. This single order equals roughly 97% of EIL's TTM revenue of Rs 3,877 Cr and significantly boosts its existing order book. EIL previously served as consultant for Dangote's 650,000 BPD Lekki refinery and its ongoing expansion to 1.4 million BPD in Nigeria. The project cements EIL's international expansion and provides multi-year revenue visibility in high-margin consultancy services.

Contract value exceeds US$ 450 Million (PMC and EPCM consultancy)
Scope covers Dangote's mega greenfield 700,000 BPD refinery & petrochemical complex in Kenya
Contract value represents nearly ~97% of EIL's TTM revenue of Rs 3,877 Cr
Follows successful delivery of Dangote's 650,000 BPD Lekki complex and its expansion to 1.4M BPD

💡 Track execution milestones, revenue billing schedules, and milestone advances across coming quarters, as well as the exact completion timeline disclosed in upcoming earnings calls.

Engineers India 61st AGM: Shareholders Approve CMD Appointment and Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 06:40 PM

Engineers India Limited (EIL) concluded its 61st Annual General Meeting on September 18, 2026, where all resolutions were passed with the requisite majority. Key approvals included the adoption of FY26 financial statements, declaration of a final dividend, and the formal appointment of Shri Atul Gupta as Chairman & Managing Director (approved with 95.38% votes in favor). Notably, re-appointment of Director Arun Kumar saw significant institutional dissent, with 60.03% of institutional votes cast against, though promoter backing (51.32% holding) ensured overall passage at 82.35%.

All resolutions passed at the 61st AGM held on September 18, 2026, with 72.98% to 73.12% overall voter turnout
Appointment of Shri Atul Gupta as Chairman & Managing Director approved with 95.38% total votes in favor
Final dividend for FY26 approved with 99.997% votes in favor
Significant institutional dissent on Item 4 (Director Arun Kumar re-appointment), with 60.03% institutional votes cast against

💡 Track subsequent corporate disclosures for dividend dispatch/payment timelines and monitor leadership execution under CMD Atul Gupta in Q2 FY27 results.

Engineers India Holds 61st AGM; Takes Up 8 Resolutions Including Appointment of CMD

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 05:05 PM

Engineers India Limited conducted its 61st Annual General Meeting on September 18, 2026, through video conferencing. A total of 147 members representing 28.86 crore shares attended, including the Government of India holding 51.32%. Shareholders considered 8 resolutions, including the adoption of FY26 financials, declaration of a final dividend, and the appointment of Shri Atul Gupta as Chairman & Managing Director. Voting results will be declared separately following the conclusion of e-voting.

61st Annual General Meeting held on September 18, 2026
147 members representing 28,86,07,539 shares participated, including the President of India holding 51.32%
Total of 8 resolutions tabled, covering FY26 financial adoption, final dividend, and appointment of CMD Shri Atul Gupta
Remote e-voting held from September 14 to September 17, 2026

💡 Track the formal voting results filing on the stock exchanges to confirm shareholder approval of the final dividend and director appointments.

Engineers India Appoints M/s S C V & CO LLP as Statutory Auditor for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 09 Sep 2026, 08:10 PM

Engineers India Limited has announced the appointment of M/s S C V & CO LLP, Chartered Accountants, as its Statutory Auditors for FY 2026-27 under Section 139 of the Companies Act, 2013. The appointment was made by the Comptroller & Auditor General of India (CAG) via a letter dated September 8, 2026. The incoming audit firm operates with 13 partners, 5 offices, and over 300 team members across India. This is a standard statutory auditor appointment typical for public sector undertakings.

Appointment of M/s S C V & CO LLP as Statutory Auditors for FY 2026-27
Auditor appointed by the Comptroller & Auditor General of India (CAG) via letter dated 08.09.2026
S C V & CO LLP operates with 13 partners and over 300 team members across 5 offices

💡 Track future quarterly audit reviews and the annual report for FY 2026-27 to note any audit qualifications or commentary.

CAG Appoints M/s S C V & CO LLP as Statutory Auditors for FY 2026-27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 08:00 PM

Engineers India Limited has informed the exchanges that the Comptroller & Auditor General of India (CAG) appointed M/s S C V & CO LLP, Chartered Accountants, as the Statutory Auditors for FY 2026-27 under Section 139 of the Companies Act, 2013. The appointment was confirmed via CAG letter dated September 8, 2026. The statutory auditors will also audit the Consolidated Financial Statements of the company. Detailed terms pursuant to SEBI Listing Regulations are to be filed separately.

CAG letter dated September 8, 2026 appointed M/s S C V & CO LLP as Statutory Auditors
Appointment covers statutory and consolidated financial audit for FY 2026-27
Supplementary/test audit under sections 143(6) & (7) entrusted to Director General of Audit, Oil & Gas, Mumbai

💡 Track subsequent SEBI disclosures regarding the auditor profile and audit fees; no immediate operational impact.

EIL Extends Additional Charge of Director (Commercial) to CMD Atul Gupta for 3 Months

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Sep 2026, 10:58 AM

The Ministry of Petroleum & Natural Gas (MoPNG) has approved the extension of additional charge for the post of Director (Commercial) to Shri Atul Gupta, C&MD of Engineers India Limited. The extension takes effect from September 30, 2026, for a duration of three months, or until a regular incumbent is appointed. This is a routine administrative measure to ensure commercial oversight continuity and has no direct financial impact on the company (TTM revenue of ₹3,877 Cr).

Extension of additional charge for Director (Commercial) granted for 3 months w.e.f. 30.09.2026
Additional responsibility assigned to existing C&MD Shri Atul Gupta
Communicated via MoPNG letter dated 02.09.2026

💡 Track the eventual appointment of a regular full-time Director (Commercial) by the Ministry and focus on execution across its ₹13,131 Cr order book.

Engineers India Sets 61st AGM on Sep 18, 2026; Confirms Rs 2.50/Share Final Dividend Record Date

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 31 Aug 2026, 01:47 PM

Engineers India Limited has issued an intimation regarding the dispatch of its Integrated Annual Report for FY26 to unregistered email holders ahead of its 61st Annual General Meeting scheduled for September 18, 2026. The company confirmed a proposed final dividend of Rs 2.50 per equity share of face value Rs 5. The record date for final dividend eligibility is fixed as September 24, 2026. Remote e-voting is slated from September 14 to September 17, 2026, with the cut-off date on September 11, 2026.

61st Annual General Meeting scheduled for September 18, 2026 via Video Conference
Proposed final dividend of Rs 2.50 per equity share of face value Rs 5 each
Record date for determining dividend entitlement set as September 24, 2026
Remote e-voting period runs from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)
Cut-off date for entitlement of e-voting fixed as September 11, 2026

💡 Eligible shareholders seeking dividend payout should ensure KYC details and bank mandates are updated with DPs or RTA before the record date of September 24, 2026.

Engineers India Issues Notice for 61st AGM on Sept 18, 2026; Recommends ₹2.50 Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Aug 2026, 03:28 PM

Engineers India Limited has issued the notice for its 61st Annual General Meeting scheduled for September 18, 2026, via video conferencing. Key resolutions include shareholder approval for a final dividend of ₹2.50 per share (FV ₹5), which takes total FY26 dividend payout to ₹5.00 per share including two interim dividends. Shareholders will also vote on the appointment of Shri Atul Gupta as Chairman & Managing Director through September 30, 2029, alongside the appointment of two independent directors.

61st AGM scheduled for September 18, 2026, at 11:00 AM IST via VC/OAVM
Final dividend approval of ₹2.50 per share (FV ₹5), amounting to ₹140.51 Cr (₹14,051.059 lakhs)
Total FY26 dividend stands at ₹5.00 per share (₹2.50 final + ₹2.50 interim dividends already paid)
Formal shareholder approval sought for appointment of Shri Atul Gupta as CMD till September 30, 2029

💡 Track voting outcomes and shareholder questions during the AGM on September 18, 2026, alongside confirmation of the dividend payment timeline.

Engineers India Sets Sept 24, 2026 as Record Date for FY26 Final Dividend; AGM on Sept 18

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 19 Aug 2026, 05:55 PM

Engineers India Limited has announced that its 61st Annual General Meeting (AGM) will take place on September 18, 2026, via Video Conferencing. The company has fixed September 24, 2026, as the record date to determine shareholder eligibility for the FY 2025-26 final dividend, subject to member approval at the AGM. This filing is procedural and provides scheduling clarity following the dividend recommendation originally made on May 21, 2026.

61st Annual General Meeting scheduled for Friday, September 18, 2026, at 11:00 AM via VC/OAVM
Record date fixed as Thursday, September 24, 2026, for FY26 final dividend entitlement
Notice of AGM and FY26 Integrated Annual Report to be dispatched electronically to registered members
Filing follows the preliminary dividend recommendation announcement dated May 21, 2026

💡 Track the AGM proceedings on September 18, 2026, for formal dividend approval and business updates. Investors seeking dividend entitlement should ensure shareholding is settled by the September 24, 2026 record date.

Engineers India Sets Sept 18 for 61st AGM, Sept 24 as Final Dividend Record Date

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 19 Aug 2026, 05:53 PM

Engineers India Limited has scheduled its 61st Annual General Meeting (AGM) for Friday, September 18, 2026, at 11:00 AM IST via Video Conferencing. The company has fixed Thursday, September 24, 2026, as the record date for determining shareholder entitlement for the FY 2025-26 final dividend. The final dividend disbursement remains subject to approval by shareholders at the AGM.

61st Annual General Meeting scheduled for Friday, September 18, 2026 at 11:00 AM IST via VC/OAVM
Record date fixed as Thursday, September 24, 2026 for FY 2025-26 final dividend entitlement
Annual Report and AGM Notice for FY 2025-26 to be sent electronically to registered shareholders
Final dividend receipt is subject to member approval at the upcoming AGM

💡 Track the AGM voting outcome on September 18, 2026; investors seeking final dividend eligibility must hold shares prior to the September 24, 2026 record date.

Engineers India Sets Sep 24, 2026 Record Date for Final Dividend; 61st AGM on Sep 18

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 19 Aug 2026, 05:29 PM

Engineers India Limited has scheduled its 61st Annual General Meeting (AGM) for Friday, September 18, 2026, via video conferencing. The company has fixed Thursday, September 24, 2026, as the record date to determine member entitlement for the final dividend for FY 2025-26. The dividend payout remains subject to shareholder approval at the upcoming AGM.

61st Annual General Meeting to be held on September 18, 2026, at 11:00 AM IST.
Record date for FY 2025-26 final dividend entitlement fixed as September 24, 2026.
Final dividend subject to approval by shareholders during the AGM.
Annual Report and AGM notice for FY 2025-26 to be dispatched electronically.

💡 Track the ex-dividend trading date relative to the September 24, 2026 record date to ensure dividend eligibility.

EIL Q1 FY27 Earnings Call: Order Book at ₹14,424 Cr; Consolidated Net Profit Jumps 141% YoY

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 18 Aug 2026, 04:11 PM

Engineers India Limited (EIL) released its Q1 FY27 earnings call transcript, reporting a 141% YoY jump in consolidated net profit to ₹157.94 Cr compared to ₹65.4 Cr in Q1 FY26. Total order book stood at ₹14,424 Cr as of June 30, 2026 (Consultancy: ₹10,498 Cr; Turnkey: ₹3,926 Cr), representing ~3.7x TTM revenue. Standalone turnover stood at ₹801 Cr (down from ₹857 Cr in Q1 FY26) due to turnkey project tapering, but higher-margin consultancy revenue grew 22% YoY to ₹499 Cr. Management reiterated its full-year FY27 order inflow guidance of ₹8,000 Cr, having achieved ₹2,750 Cr year-to-date.

Consolidated PAT surged 141% YoY to ₹157.94 Cr in Q1 FY27, supported by ₹42.51 Cr JV/associate profit contribution (vs ₹7.37 Cr loss YoY)
Total order book stood robust at ₹14,424 Cr as on June 30, 2026, comprising ₹10,498 Cr consultancy and ₹3,926 Cr turnkey projects
Operating margin expanded to ~14% (₹108 Cr) from 7% (₹59 Cr) YoY, driven by higher consultancy revenue mix of ₹499 Cr (+22% YoY)
Management maintains an order inflow target of ₹8,000 Cr for FY27, with ₹2,750 Cr secured to date (including ₹1,100 Cr overseas)

💡 Track execution ramp-up in the turnkey segment expected in Q3/Q4 FY27 and monitor progress toward the FY27 ₹8,000 Cr order inflow target, particularly Middle East contract conversions.

Engineers India Discloses Audio Recording Link for Q1 Analyst Call Held on Aug 14, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 09:42 PM

Engineers India Limited (EIL) has submitted the audio recording link for its post-earnings analyst and institutional investor call conducted on August 14, 2026. The call reviewed the company's financial performance for the quarter ended June 30, 2026. The recording has been made publicly accessible on the company's investor portal pursuant to Regulation 30 of SEBI (LODR) Regulations. This is a routine post-results regulatory disclosure.

EIL conducted its post-earnings analyst call virtually on August 14, 2026, for the quarter ended June 30, 2026.
The audio recording has been made accessible via the company's website under investor disclosures.
For Q1 (quarter ended June 2026), EIL reported revenue of ₹819.84 Cr and PAT of ₹157.94 Cr.
The company maintains a low debt-to-equity ratio of 0.01 with total debt standing at ₹17 Cr.

💡 Investors can access the audio recording on EIL's website to evaluate management guidance on the ₹13,131 Cr order book, execution timelines, and international expansion.

Engineers India Appoints Two Independent Directors for a 3-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Aug 2026, 09:39 PM

Engineers India Limited has appointed Smt Kahuli Sema and Shri Ashish Kumar Gupta as Non-official Independent Directors for a period of 3 years, effective August 14, 2026. The appointments were finalized pursuant to a directive from the Ministry of Petroleum & Natural Gas dated August 12, 2026. Both directors bring extensive civil engineering and infrastructure experience to the board. This is a routine corporate governance and regulatory compliance update with no direct impact on company financials.

Appointed Smt Kahuli Sema and Shri Ashish Kumar Gupta as Non-official Independent Directors.
Tenure defined as 3 years effective August 14, 2026, or until further orders.
Appointments approved pursuant to Ministry of Petroleum & Natural Gas letter dated August 12, 2026.
Appointees hold civil engineering backgrounds with over 31 years of domain experience.

💡 Track regular quarterly results and project execution in the order book (₹13,131 Cr as of Sept 2025); this filing requires no operational action.

View All ENGINERSIN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In H1 FY26, total turnover grew 37% YoY to INR 1,757 Cr. Segmentally, Consultancy & Engineering (C&E) revenue was INR 819 Cr (46.6% of H1 total) and Turnkey revenue was INR 938 Cr (53.4% of H1 total). For FY25, C&E revenue grew 15.4% to INR 1,678.76 Cr, while Turnkey revenue declined 24.1% to INR 1,349.59 Cr.

Geographic Revenue Split

Domestic operations dominate the revenue mix; however, international consultancy business is expanding with a recent order in Africa valued at over INR 600 Cr. Specific percentage split between domestic and international revenue for the current period is not disclosed in available documents.

Profitability Margins

PAT margin improved significantly to 15.36% in FY25 from 11.04% in FY24. PBT margin also rose to 20.37% in FY25 from 14.55% in FY24. The improvement was driven by a higher mix of high-margin consultancy work and reversal of provisions amounting to INR 12 Cr.

EBITDA Margin

EBITDA margin (including other income) for H1 FY26 stood at 14% (INR 265 Cr) compared to 15% in H1 FY25. Standalone operating margin for Q2 FY26 was 11.3% (INR 102 Cr), up from 7% (INR 47 Cr) in Q2 FY25.

Capital Expenditure

EIL maintains a low-capex model. Recent investments include a rights issue in Numaligarh Refinery Limited (NRL) totaling INR 138 Cr, with INR 35 Cr already paid in Q2 FY24. The company plans to utilize its cash reserves of INR 900-1,000 Cr for strategic opportunities like NRL and RFCL.

Credit Rating & Borrowing

The company maintains a robust credit profile with negligible debt. Total Outside Liabilities to Net Worth (TOL/TNW) improved to 0.78x as of March 31, 2025, from 0.96x in the previous year. Borrowing costs are minimal as operations are funded through internal accruals.

⚙️ Operational Drivers

Raw Materials

As an engineering consultancy, the primary 'input' is technical man-hours. For Turnkey (LSTK) projects, procurement includes specialized equipment and construction materials (steel, piping, instrumentation), though specific percentage breakdowns per material are not disclosed.

Capacity Expansion

Current capacity is measured in engineering man-hours. The company is expanding its service capacity into new sectors like Green Hydrogen, Ammonia, and high-end Data Centers, which now account for ~35% of H1 FY26 order inflows.

Raw Material Costs

Not applicable as a percentage of revenue for consultancy; Turnkey project costs are managed to maintain a 6-7% segment profit margin. Operating margins are sensitive to the execution stage of these turnkey contracts.

Manufacturing Efficiency

Not applicable; efficiency is measured by segment profit margins: 25-28% for Consultancy and 6-7% for Turnkey projects.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth will be achieved through a record-high order book of INR 13,131 Cr (as of Sept 2025). Strategy includes diversifying away from pure Oil & Gas (reducing concentration from 95% to 78%), expanding international consultancy footprints (e.g., Africa), and entering energy transition sectors like biofuels and green hydrogen.

Products & Services

Engineering consultancy, project management services (PMS), and Lump Sum Turnkey (LSTK) project execution for the hydrocarbon, petrochemical, and infrastructure sectors.

Brand Portfolio

Engineers India Limited (EIL).

New Products/Services

New service offerings in high-end Data Centers, academic complexes, and energy-efficient infrastructure contributed ~35% of H1 FY26 order intake.

Market Expansion

Expanding international operations in Africa (INR 600 Cr order) and the Middle East to leverage technical credentials in the hydrocarbon sector.

Market Share & Ranking

EIL is a leading player in the Indian hydrocarbon engineering space, benefiting from sovereign ownership and technical credentials.

Strategic Alliances

Key JVs include Ramagundam Fertilizers and Chemicals Limited (RFCL) (26% stake) and Numaligarh Refinery Limited (NRL) (4.8% stake).

🌍 External Factors

Industry Trends

The industry is evolving toward a 'refinery hub' model in India. Future growth is driven by mega-projects in petrochemicals and refining, alongside a shift toward energy transition and green energy infrastructure.

Competitive Landscape

Faces competition from international engineering consultancies and EPC firms, which can exert pricing pressure on turnkey projects.

Competitive Moat

Durable moat derived from majority sovereign ownership (MoPNG), which provides preferential access to PSU bids, and decades of technical expertise in complex hydrocarbon projects that act as a high entry barrier.

Macro Economic Sensitivity

Highly sensitive to global oil demand (expected to reach 112.3 mb/d by 2029) and India's refining capacity expansion (currently 248.91 MMTPA).

Consumer Behavior

Not applicable; demand is driven by industrial capex and government energy policy rather than individual consumer trends.

Geopolitical Risks

Global momentum shifting away from fossil fuels poses a transitional risk, requiring EIL to pivot toward renewables and sustainability-linked projects.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by MoPNG guidelines and DPE (Department of Public Enterprises) guidelines for cash deployment and investment.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 24.5% (Income Tax Expense of INR 151.49 Cr on PBT of INR 616.73 Cr).

Legal Contingencies

The company reversed provisions of INR 12 Cr in recent quarters. Specific pending court case values are not detailed, but the company monitors liquidated damages and provision reversals as part of project closure.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the pace of the energy transition; a rapid shift away from fossil fuels could strand 78% of the current order book if diversification into renewables is not accelerated.