Rs 10,600 crore order book: Multibagger civil construction company reports a 126 per cent jump in net profit and receives order worth Rs 837.34 crore!
The stock gave multibagger returns of 115 per cent in just 1 year whereas BSE Sensex Index is up by 11.80 per cent.
Engineers India Ltd (BSE Script Code: 532178; NSE Script Code: ENGINERSIN) announced stellar Quarterly Results and received an order. Details below:
Quarterly Results: The net sales increased by 0.43 per cent to Rs 818.27 crore, the operating profit skyrocketed by 120.31 per cent to Rs 164.73 crore and the net profit skyrocketed by 126.02 per cent to Rs 116.38 crore. The EPS for Q1FY24 stood at Rs 2.47.
Order Received: The company has received an order from Oil and Natural Gas Corporation Limited (ONGC) for the revamping of SV stations, Gas Terminal & Kribhco Terminal of ONGC, Hazira Plant on EPC reimbursable [Open Book Estimate (OBE)] Basis. The project is worth Rs 837.34 crore and it will be completed in 45 months from LOI.
Order Book Update: As of June 30, 2023, the company has an order book exceeding Rs 10,600 crore, an increase of 17 per cent from the order book of Rs 9079 crore reported on March 31, 2023.
Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company owned by the Government of India and managed by the Ministry of Petroleum and Natural Gas (MoPNG). EIL's primary focus is on engineering consultancy and EPC services for the oil and gas and petrochemical industries. The company is also nearly debt-free and consistently offers a healthy dividend payout of 71.60 per cent.
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On Wednesday, shares of EIL plunged 0.91 per cent to Rs 147.10 per share with an intraday high of Rs 151.35 and an intraday low of Rs 144.20. The stock has a 52-week high of Rs 160.50 and a 52-week low of Rs 62.35.
The stock gave multibagger returns of 115 per cent in just 1 year whereas BSE Sensex Index is up by 11.80 per cent. Investors should keep an eye on this civil construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.