🔍

ENGINERSIN - Engineers India

📊 NSE: ENGINERSIN 🏢 Engineering - Turnkey Services 📅 Last Updated: 12/13/2025 21:52

📢 Recent Corporate Announcements

Engineers India Appoints Praveen M. Khanooja as Additional Charge CMD

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 03 Mar 2026, 03:50 PM

Engineers India Limited (EIL) has announced that Shri Praveen M. Khanooja has been entrusted with the additional charge of Chairman & Managing Director (CMD) effective March 1, 2026. Mr. Khanooja is a 1994 batch IA&AS officer and currently serves as Additional Secretary in the Ministry of Petroleum & Natural Gas. His extensive background includes roles in the Ministry of Finance and international audit experience with organizations like FAO and WTO. This appointment ensures leadership continuity at the helm of the PSU under the administrative control of the MoPNG.

Shri Praveen M. Khanooja takes additional charge as CMD effective March 1, 2026
He is a 1994 batch Indian Audit & Accounts Service (IA&AS) officer with B.Tech and M.Tech qualifications
Currently serves as Additional Secretary in the Ministry of Petroleum & Natural Gas since August 2022
Extensive international experience conducting audits for FAO, WIPO, WTO, and UNITAID

💡 Investors should monitor for the appointment of a permanent CMD for long-term strategic clarity, though this interim arrangement ensures administrative continuity. No immediate portfolio action is required based on this leadership transition.

Engineers India Fined ₹10.85 Lakh by NSE & BSE for Board Composition Non-Compliance

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 03 Mar 2026, 12:02 PM

Engineers India Limited (EIL) has been fined ₹5,42,800 each by the NSE and BSE for failing to maintain the required number of Independent Directors during the quarter ended September 30, 2025. The company, a Public Sector Undertaking (PSU), stated that director appointments are managed by the Ministry of Petroleum and Natural Gas (MoPNG) and are beyond its direct control. Currently, EIL requires four additional Independent Directors to comply with SEBI Regulation 17(1). While the company has sought a waiver of these fines, the stock exchanges have indicated that such requests will only be considered once full compliance is achieved.

NSE and BSE imposed a total fine of ₹10,85,600 (including GST) for non-compliance with SEBI Regulation 17(1).
The fine is attributed to the lack of the requisite number of Independent Directors for the quarter ending September 30, 2025.
EIL currently needs 4 more Independent Directors to meet the regulatory board strength requirements.
The company has requested the Ministry of Petroleum and Natural Gas (MoPNG) to expedite the appointment process.
Stock exchanges have deferred the waiver request until the company achieves full regulatory compliance.

💡 This is a common administrative issue for PSUs where the government controls board appointments, and the financial impact is negligible relative to the company's size. Investors should treat this as a routine regulatory update rather than a fundamental concern.

Engineers India Appoints Praveen M. Khanooja as Interim CMD for Three Months

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 01 Mar 2026, 11:37 PM

Engineers India Limited (EIL) has announced that Shri Praveen M. Khanooja, Additional Secretary at the Ministry of Petroleum & Natural Gas (MoPNG), has been entrusted with the additional charge of Chairman & Managing Director. This appointment is effective from March 1, 2026, for a period of three months or until a regular incumbent is appointed. The move ensures leadership continuity following the vacancy in the top post. As a Public Sector Undertaking (PSU), such interim arrangements are common while the government finalizes a permanent selection.

Shri Praveen M. Khanooja (DIN: 09746472) appointed as interim CMD effective March 1, 2026.
The additional charge is valid for 3 months or until a permanent appointment is made.
Appointment approved by the Ministry of Petroleum & Natural Gas (MoPNG).
Mr. Khanooja currently serves as the Additional Secretary within the MoPNG.

💡 Investors should view this as a routine administrative transition and monitor for the announcement of a permanent CMD to assess long-term leadership stability.

Engineers India CMD Vartika Shukla Retires Effective March 1, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 01 Mar 2026, 11:01 AM

Engineers India Limited (EIL) has announced that Smt. Vartika Shukla has ceased to be the Chairman and Managing Director (CMD) of the company effective March 1, 2026. This transition follows her reaching the age of superannuation on February 28, 2026. The change is a routine retirement and was disclosed in compliance with SEBI Listing Obligations. Investors should look for subsequent announcements regarding the appointment of a successor to lead the PSU.

Smt. Vartika Shukla (DIN: 08777885) retired as Chairman and Managing Director.
The cessation of office is effective from March 1, 2026.
The retirement follows the completion of her term on attaining superannuation on February 28, 2026.
The filing was made under Regulation 30 of the SEBI (LODR) Regulations, 2015.

💡 Monitor for the announcement of a new CMD or interim leadership to ensure continuity in project execution and strategic goals. This is a planned retirement and typically does not impact short-term fundamentals.

Engineers India Declares Second Interim Dividend of ₹1.50 Per Share for FY 2025-26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 26 Feb 2026, 05:47 PM

Engineers India Limited (EIL) has declared its second interim dividend of ₹1.50 per equity share for the financial year 2025-26. The dividend is calculated on a face value of ₹5 per share. The company has established March 6, 2026, as the record date to identify eligible shareholders. Payments are scheduled to commence on March 20, 2026, ensuring distribution within the 30-day statutory window.

Second interim dividend of ₹1.50 per equity share declared for FY 2025-26
Dividend payout is based on a face value of ₹5 per share
Record date for determining shareholder eligibility is set for March 6, 2026
Dividend payment to commence from March 20, 2026

💡 Investors interested in the dividend should ensure they hold the stock before the record date of March 6, 2026. This announcement reinforces the company's track record of consistent shareholder returns.

Engineers India to Consider 2nd Interim Dividend on Feb 26; Record Date Set for March 6

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 17 Feb 2026, 06:04 PM

Engineers India Limited (EIL) has scheduled a Board Meeting on February 26, 2026, to consider and approve a second interim dividend for the financial year 2025-26. The company has proactively fixed March 6, 2026, as the record date to determine shareholder eligibility for the payout. In compliance with insider trading regulations, the trading window for the company's securities is closed from February 17 to February 28, 2026. This move indicates a continuation of the company's policy to distribute surplus cash to its shareholders.

Board meeting scheduled for February 26, 2026, to approve the 2nd interim dividend for FY 2025-26.
Record date for dividend eligibility is fixed as Friday, March 6, 2026.
Trading window for EIL securities closed from February 17, 2026, to February 28, 2026.
Trading window is set to re-open on March 2, 2026.
The dividend, if declared, will be paid to shareholders appearing in the register as of the close of business on the record date.

💡 Investors interested in dividend income should watch for the dividend amount announcement on February 26 and ensure they hold the stock before the March 6 record date.

Engineers India Board to Consider 2nd Interim Dividend on Feb 26; Record Date Set for March 6

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 17 Feb 2026, 06:02 PM

Engineers India Limited (EIL) has scheduled a board meeting for February 26, 2026, to consider and approve a second interim dividend for the financial year 2025-26. The company has fixed March 6, 2026, as the record date to determine the eligibility of shareholders for this potential payout. In compliance with insider trading regulations, the trading window for EIL securities is closed from February 17 to February 28, 2026. This move signals a continuation of the company's policy to return value to shareholders through periodic dividends.

Board meeting scheduled for February 26, 2026, to approve the 2nd interim dividend for FY 2025-26.
Record date for dividend eligibility established as Friday, March 6, 2026.
Trading window for insiders closed from February 17, 2026, to February 28, 2026.
Dividend payment is subject to board approval and will be paid to shareholders on record as of March 6.

💡 Investors interested in dividend income should monitor the board meeting outcome on February 26 for the specific dividend amount. To be eligible for the payout, shares must be held in the demat account by the record date of March 6, 2026.

Engineers India Q3 PAT Surges 243% YoY; Order Book Hits Record ₹15,670 Crores

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 16 Feb 2026, 03:01 PM

Engineers India Limited (EIL) reported a stellar Q3 FY26 performance with PAT jumping 243% YoY to ₹302 crores and revenue growing 59% to ₹1,194 crores. The company achieved its highest-ever order book of approximately ₹15,670 crores as of early 2026, bolstered by a significant ₹3,250 crore order win in January. Operating margins saw a sharp improvement to 28% in Q3, driven by a strong execution mix and consultancy projects. Management expects to cross ₹4,000 crores in revenue for the full fiscal year with continued momentum in order inflows.

Q3 FY26 PAT increased by 243% YoY to ₹302 crores, while PBT rose 235% to ₹395 crores.
Total order book reached a record high of ₹15,670 crores following a ₹3,250 crore order win in January 2026.
Operating margins expanded significantly to 28% in Q3 FY26 compared to 11% in the previous quarter.
9-month FY26 turnover grew 45% YoY to ₹2,951 crores with a healthy EPS of ₹8.66.
Consultancy segment continues to provide high margins of 20-25%, while Turnkey projects maintain around 7%.

💡 Investors should note the record-high order book and sharp margin expansion as strong indicators of future revenue visibility and improved profitability. The company remains a key beneficiary of the ongoing hydrocarbon and industrial capex cycle in India and abroad.

Engineers India Releases Audio Recording of Q3 FY26 Earnings Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 14 Feb 2026, 01:23 PM

Engineers India Limited (EIL) has officially released the audio recording link for its earnings conference call held on February 13, 2026. The call addressed the company's financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. The recording provides investors with direct access to management's commentary on operational results and future business outlook.

Earnings call for Q3 and 9M FY2025-26 was successfully conducted on February 13, 2026.
The company virtually engaged with multiple institutional funds and individual investors during the session.
Audio recording link is now live on the company's investor relations portal for public review.
Compliance filing made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements.

💡 Investors should listen to the recording to understand management's guidance on the order book and execution timelines. No immediate portfolio changes are recommended based solely on this procedural filing.

Engineers India Q3 PAT Jumps 242% YoY to ₹301.7 Cr, Revenue Up 59%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 04:59 PM

Engineers India Limited (EIL) reported a stellar performance for Q3 FY26, with standalone revenue growing 59% YoY to ₹1,193.6 crore. Net profit saw a massive surge of 242% YoY to ₹301.7 crore, significantly aided by a one-time contractual adjustment. This adjustment, related to the mechanical completion of a turnkey project, contributed ₹226.5 crore to revenue and ₹213.6 crore to profit. While the turnkey segment was the primary growth driver, the consultancy segment also showed steady growth.

Standalone Revenue from Operations rose 59% YoY to ₹1,193.6 crore from ₹750.2 crore.
Standalone Net Profit (PAT) surged 242% YoY to ₹301.7 crore compared to ₹88.1 crore in the previous year.
Turnkey segment revenue more than doubled YoY to ₹720.1 crore, significantly boosted by a ₹226.5 crore project price adjustment.
Consultancy & Engineering segment revenue grew 16.4% YoY to ₹473.5 crore.
Earnings Per Share (EPS) for the quarter increased to ₹5.37 from ₹1.57 YoY.

💡 While the headline numbers are exceptionally strong, investors should account for the one-time nature of the ₹213.6 crore profit adjustment in the turnkey segment. The core consultancy business remains stable, and the stock remains a key play in India's hydrocarbon and infrastructure engineering space.

Engineers India to Host Q3 FY26 Earnings Call on February 13, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 11:15 AM

Engineers India Limited (EIL) has scheduled its earnings conference call to discuss the financial results for the third quarter and nine months ended December 31, 2025. The call is slated for February 13, 2026, at 15:00 hrs IST and will be hosted by DAM Capital Advisors. Senior management, including the Director of Finance and CGM of Marketing & Business Development, will be present to address investor queries. This call follows the official declaration of the company's performance for the 2025-26 financial year.

Earnings call scheduled for February 13, 2026, at 3:00 PM IST.
Discussion will focus on Q3 and nine-month results ended December 31, 2025.
Management participants include Director (Finance) Sanjay Jindal and ED (F&A) R. P. Batra.
Universal dial-in numbers are +91 22 6280 1384 and +91 22 7115 8285.
The call is organized by DAM Capital Advisors Ltd.

💡 Investors should attend or review the call transcript to understand management's outlook on the order book and execution pipeline. Pay close attention to updates regarding the Marketing and Business Development segment for future growth signals.

Engineers India Board Meeting on Feb 12, 2026, to Approve Q3 FY26 Results

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 04 Feb 2026, 05:14 PM

Engineers India Limited (EIL) has scheduled a Board Meeting for February 12, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. In accordance with SEBI insider trading regulations, the trading window for the company's securities has been closed since January 1, 2026. The window will remain closed until February 14, 2026, and is scheduled to reopen on February 16, 2026. This is a routine regulatory announcement ahead of the quarterly earnings release.

Board meeting scheduled for February 12, 2026, to approve Q3 and nine-month financial results
Trading window for EIL securities closed from January 1, 2026, to February 14, 2026
Trading window to officially reopen on February 16, 2026
Results will cover both standalone and consolidated financial performance for the period ending December 31, 2025

💡 Investors should mark February 12 on their calendars to review the company's quarterly performance and management commentary. No immediate action is required as this is a standard procedural notification.

EIL Secures $350M+ Contract for Dangote Refinery Expansion to 1.4 Million BPD

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 17 Jan 2026, 04:22 PM

Engineers India Limited (EIL) has signed a major contract worth over US $350 million with the Dangote Group to expand Africa's largest refinery in Nigeria. The project aims to more than double the refining capacity from 650,000 to 1.4 million barrels per day, potentially making it the world's largest single-location refinery. EIL will act as the Project Management Consultant (PMC) and EPCM Consultant for the expansion, which also includes a massive increase in polypropylene production to 2.4 MMTPA. This high-value international contract significantly strengthens EIL's order book and global standing in the hydrocarbon consultancy sector.

Contract value exceeds US $350 million for PMC and EPCM consultancy services
Refining capacity to expand from 650,000 bpd to 1.4 million bpd (Train 2)
Polypropylene production capacity to increase from 830 kTPA to 2.4 MMTPA
Project includes revamping existing units and installing a new 1.2 MMTPA PPU and 750 kTPA Oleflex Unit
Reinforces EIL's position as a premier global engineering consultant for complex energy projects

💡 Investors should view this as a highly positive development that provides long-term revenue visibility and enhances EIL's international profile. The high-margin nature of consultancy contracts of this scale is likely to be accretive to the company's bottom line.

Engineers India Submits Q3 FY26 SEBI Compliance Certificate for Dematerialization

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 11:38 AM

Engineers India Limited has filed the mandatory compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by Alankit Assignments Limited, confirms that all securities received for dematerialization were processed and the physical certificates were mutilated and cancelled. This filing ensures that the company's electronic shareholding records are updated and aligned with depository data. Such filings are standard administrative procedures for listed entities in India.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar and Share Transfer Agent (RTA), Alankit Assignments Ltd, confirmed the processing of demat requests.
Physical share certificates were mutilated and cancelled after due verification.
The name of the depository has been substituted in the records as the registered owner for the processed shares.

💡 No action is required from investors as this is a routine regulatory filing confirming standard administrative compliance.

Engineers India Announces Retirement of Executive Director Mainak Nandi Effective Jan 1, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 31 Dec 2025, 05:03 PM

Engineers India Limited (EIL) has announced a change in its senior management following the retirement of Shri Mainak Nandi. Mr. Nandi, who held the position of Executive Director (Engineering), retired on December 31, 2025, upon reaching the age of superannuation. The change is effective from January 1, 2026, as per the company's regulatory filing. This is a routine administrative transition and is not expected to impact the company's strategic direction or daily operations.

Shri Mainak Nandi retired as Executive Director (Engineering) effective January 1, 2026.
The retirement is due to attaining the age of superannuation on December 31, 2025.
The announcement was made in compliance with SEBI (LODR) Regulations, 2015.
This is a planned management transition with no reported impact on operations.

💡 This is a routine retirement of a senior official; no action is required from investors. Monitor for the appointment of a new head for the engineering division to ensure operational continuity.

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.