Engineers India shares climb over 3% after order book touches Rs 11,350 cr

Engineers India share price moved up to 3.48 per cent at Rs 216.90 per share on the BSE in Thursday’s intraday deals. Engineers India stock price rose after the company in its 59th annual general meeting revealed that it has secured new business worth Rs 4,681 crore in the current financial year, and  as on 31st August, its orderbook has touched around Rs 11,350 crore. 

The company’s CMD, Vartika Shukla said that interanationaly Engineers India has secured the FEED assignment for the AGRP revamp at MAA refinery in Kuwait and the engineering design package for the installation of desalters at BAPCO refinery in Bahrain. 

 

“We have also renewed our collaboration with SONATRAC in Algeria, providing FEED and PMC services for the new NHT/CCR-reforming unit. Expanding further, we are exploring opportunities in Saudi Arabia, Oman and other geographies,” Shukla said in a note addressed to the shareholders. 

State-owned Engineers India operates under the Ministry of Petroleum and Natural Gas, operates in two major segments: consultancy & engineering projects and turnkey projects. 

The company offers design, engineering, procurement, construction, and integrated project management services, primarily focusing on the oil, gas, and petrochemicals industries, both in India and internationally. 

The company also engages in non-ferrous mining, metallurgy, and infrastructure projects. Additionally, it is a key provider of engineering consultancy for the Government of India's energy security initiatives, including strategic crude storage under its Integrated Energy Policy.

The company has a total market capitalisation of Rs 12,055.81 crore. Its shares are trading at a price to earnings multiple of 39.51 times with an earning per share of Rs 5.35, according to data available on BSE. 

The share price of the company has appreciated 19.1 per cent year to date against a rise of 13.3 per cent in the benchmark BSE Sensex during this period

At 10:15 AM; the share price of the company was trading 2.91 per cent higher at Rs 215.70 a piece. By comparison, the BSE Sensex was trading 0.33 per cent higher at 81,792 levels.