EIL Q4 Results: Firm posts profit at Rs 159 crore; revenue rises 7.5% YoY

Engineers India Ltd’s (EIL) profit rose by a quarter in the January-March period to Rs 159 crore as more projects achieved completion. New businesses secured by the company in the year 2022-23 nearly tripled to Rs 4,700 crore from Rs 1650 crore in the previous year.

Revenue from operations rose 7.5% year-on-year to Rs 866 crore in the fourth quarter. Profit for the year 2022-23 remained nearly unchanged at Rs 342 crore on a revenue of Rs 3,284 crore.

“It’s important that we are very lean and cashflows are very healthy,” said Vartika Shukla, chairperson and managing director of EIL, pointing toward a reduction in debtors and trade receivables for the firm.


Shares in EIL closed 5.3% lower at Rs 104.52 apiece on Friday when the BSE benchmark Sensex closed 1% higher.

In the current financial year, EIL has already secured new business orders worth Rs 650 crore, with about 30% from overseas clients. The order book stood at Rs 9,079 crore at March-end, of which 15% is from projects abroad. EIL's international business is mainly concentrated in the Gulf, Africa, Mongolia, and Guyana. It’s working with the UAE’s Adnoc on some of its projects.

About 75% of EIL’s projects are linked to refineries and petrochemicals. The oil and gas sector remains the mainstay of EIL’s business, but given the global transition push, the company is also diversifying into green hydrogen, biorefinery, and carbon capture and utilization.