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Engineers India

ENGINERSIN NSE
₹300.85 +11.60 (+4.01%)
P/E
21.55
View as Markdown
MCP
Close 4 Nov 2026 ₹300.85 +106.45 +54.8% 1Y
Start ₹194.40

Key Fundamentals

SmallcapConstructionIndustrials

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
30.40%
Debt to Equity
0.01
EPS (TTM)
₹13.96
Book Value
₹59.44
Market Cap
—
P/E (TTM)
21.55
P/B
5.06
ROE
23.40%
Dividend Yield
0.52%
EBITDA
₹891 Cr
52W High
₹321.40
52W Low
₹163.55
Day Range
₹283.60 – ₹302.70
Volume
49,71,173

Peer Comparison

Industrials › Construction › Civil Construction

Engineers India peer comparison
L&T
₹3,944.4030.37₹5,47,193 Cr4.800.96%15.90%14.60%₹3,00,904 Cr₹20,895 Cr
Rail Vikas Nigam
₹191.2344.37₹39,292 Cr4.060.93%9.02%10.80%₹20,825 Cr₹897 Cr
Cemindia Projects
₹1,310.1037.40₹23,549 Cr6.360.24%27.80%32.80%₹10,205 Cr₹602 Cr
Kalpataru Projects International
₹1,366.1020.52₹22,726 Cr3.000.83%13.70%18.30%₹27,380 Cr₹1,129 Cr
NBCC
₹77.7428.37₹20,666 Cr6.950.20%20.40%29.30%₹12,756 Cr₹766 Cr
IRB Infrastructure Developers
₹16.7921.25₹19,929 Cr0.940.31%4.29%7.47%₹7,686 Cr₹954 Cr
Engineers India (this company)
₹300.8521.55₹16,653 Cr5.060.52%23.40%30.40%₹3,878 Cr₹784 Cr
Median 7 companies₹300.8528.37₹22,726 Cr4.800.52%15.90%18.30%₹12,756 Cr₹897 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

62 Good

Data confidence 100/100

Category scores

Quality
70
Strong
Returns, margins, earnings quality 22% weight
Valuation
68
Strong
Cheap vs sector & own history 24% weight
Growth
48
Average
Sales & profit trajectory 9% weight
Financial Health
70
Strong
Solvency, leverage, coverage 9% weight
Momentum
65
Good
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 39.1%

Weaknesses

2
  • The company has delivered a poor sales growth of 4.55% over past five years.
  • Earnings include an other income of Rs.320 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3313
OscillatorsNeutral333
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
61.70
Neutral
MACD (12,26,9)
−1.02
Bullish
SMA (50)
278.33
Bullish
SMA (200)
235.38
Bullish

As of

Analyst Rating

Based on 6 analysts
BUY83%

5 of 6 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
5
83%
HOLD
1
17%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.81%
5Y+4.55%
3Y+5.66%
1Y+27.20%
TTM+16.29%

Net profit

Net profit growth by window
10Y+9.55%
5Y+22.68%
3Y+25.99%
1Y+19.31%
TTM+41.52%

Operating cash flow

Operating cash flow growth by window
10Y+13.74%
5Y+13.28%
3YTurned positive
1Y+172.65%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+4.17 pp
5Y+6.60 pp
3Y+8.49 pp
1Y+1.15 pp
TTM+3.35 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,480 Cr
Mar 2018₹1,824 Cr
Mar 2019₹2,476 Cr
Mar 2020₹3,237 Cr
Mar 2021₹3,144 Cr
Mar 2022₹2,913 Cr
Mar 2023₹3,330 Cr
Mar 2024₹3,281 Cr
Mar 2025₹3,088 Cr
Mar 2026₹3,928 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹330 Cr
Mar 2018₹383 Cr
Mar 2019₹368 Cr
Mar 2020₹424 Cr
Mar 2021₹249 Cr
Mar 2022₹140 Cr
Mar 2023₹346 Cr
Mar 2024₹445 Cr
Mar 2025₹580 Cr
Mar 2026₹692 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹581 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 1.8× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Engineers India Ltd trades at ₹289.65 with a market cap of ₹15,852 Cr as of 2026-11-02, carrying a PE of 20.75x on TTM EPS of ₹13.96. The company is virtually debt-free with a debt-to-equity of 0.01, and has delivered strong profit growth of 42% TTM, though core sales growth over five years has been modest at 5% CAGR.

Bull Case 8
  • Virtually debt-free balance sheet with a debt-to-equity ratio of just 0.01, providing significant financial flexibility and resilience across business cycles
  • Strong return ratios with ROE at 21.99% and ROCE at 28.08%, indicating efficient capital deployment relative to the construction and engineering sector
  • TTM profit growth of 42% significantly outpaces TTM sales growth of 16%, reflecting improving margins and operating leverage
  • 3-year compounded profit growth of 26% and 5-year profit CAGR of 15% demonstrate a sustained earnings acceleration trend over multiple periods
  • 10-year average ROE of 17% rising to 23% over the last 3 years and last year suggests structural improvement in profitability rather than a one-off
  • Stock has delivered a 1-year CAGR of 43% and a 3-year CAGR of 27%, reflecting strong market re-rating and investor confidence
  • Consistent dividend payout ratio of 39.1% signals shareholder-friendly capital allocation, supported by the near-zero debt position
  • The stock trades 77% above its 52-week low of ₹163.55, indicating sustained buying interest and upward momentum over the past year
Bear Case 5
  • Core sales growth has been weak at just 5% CAGR over 5 years and 6% over 3 years, raising questions about the company's ability to scale revenue meaningfully
  • Other income of ₹320 Cr forms a significant portion of earnings, meaning the quality of TTM EPS of ₹13.96 may be lower than headline numbers suggest
  • Dividend yield stands at only 0.6% at the current price of ₹289.65, offering limited income return despite the 39.1% payout ratio
  • The wide gap between profit growth (42% TTM) and sales growth (16% TTM) suggests margin expansion or other income is driving earnings rather than top-line momentum, which may not be sustainable
  • PE of 20.75x on a 10-year sales CAGR of just 10% implies the market is pricing in significantly faster future growth than the company has historically delivered on revenues

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Engineers India delivered a standout Q2 FY27 with 136% YoY profit growth, sharply improved EBITDA margins, and an all-time high order book of ₹20,421 crore anchored by a large Kenya refinery contract. The key risk is that revenue actually declined YoY despite profit gains, meaning growth is margin-driven and execution on the swollen order book is critical. Nuclear opportunities remain a medium-term catalyst at best, pushed to FY28. The trend is clearly improving on profitability and order intake, but sustained revenue conversion will determine whether the stock's 44% YTD rally has further room to run.

Headwinds 3
  • Revenue declined YoY in Q2 Nov 2

    Revenue fell to ₹8.24 billion from ₹9.2 billion year-on-year in Q2 FY27, highlighting that profit growth was driven by margin expansion rather than top-line growth.

  • Nuclear orders delayed to FY28+ Nov 2

    Nuclear opportunities across engineering consultancy, balance-of-plant and construction supervision are at an early stage, with meaningful order inflows not expected until FY28 onwards.

  • Order execution risk on record book Nov 2

    With the order book at an all-time high of ₹20,421 crore, timely execution and conversion into revenue remain crucial risks to sustaining growth momentum.

Positives 6
  • Record order book at ₹20,421 Cr Nov 2

    Total order book reached an all-time high of ₹20,421 crore as of September 30, 2026, up from ₹15,109 crore as of March 31, 2026, with ₹7,428 crore in fresh orders secured in H1 FY27.

  • Q2 profit surges 136% YoY Nov 2

    Consolidated net profit jumped 136% YoY to ₹1.97 billion in Q2 FY27, while EBITDA margin expanded to 23.51% from 13% a year earlier, demonstrating strong operational efficiency gains.

  • Major Kenya refinery PMC contract Nov 2

    Secured PMC and EPCM services for a greenfield refinery and petrochemical plant at Mokowe, Kenya valued at ₹44,086 crore, with overseas consultancy accounting for 95% of consultancy business in the quarter.

Neutral 2
  • Maritime sector entry via consultancy Nov 4

    Engineers India secured a consultancy contract for developing Indian standards for offshore safety training and certification, marking a strategic entry into the maritime sector.

  • Executive Director departs on retirement Oct 31

    Anurag Sinha ceased as Executive Director (Structural) effective November 1, 2026, due to superannuation on October 31, 2026.

Quarterly Results

₹ Cr
ENGINERSIN quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
818
790
868
805
624
689
765
1,010
870
921
1,210
926
820
824
Expenses
747
691
818
728
573
627
667
709
798
802
858
774
693
651
Operating Profit
71
99
50
77
51
62
98
301
72
120
352
152
126
173
OPM %
9%
12%
6%
10%
8%
9%
13%
30%
8%
13%
29%
16%
15%
21%
Other Income
94
44
30
51
39
47
38
74
36
37
101
101
81
87
Interest
1
0
1
1
1
1
1
0
1
1
1
0
1
0
Depreciation
8
8
8
11
10
10
10
11
11
10
10
11
10
10
PBT
156
134
71
117
79
99
126
364
97
146
442
242
197
249
Tax %
25%
24%
26%
23%
26%
22%
25%
23%
25%
25%
21%
19%
20%
21%
Net Profit
139
127
63
116
92
100
109
280
65
83
347
196
158
197
EPS (₹)
2.47
2.27
1.13
2.06
1.63
1.77
1.93
4.98
1.16
1.49
6.18
3.48
2.81
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
ENGINERSIN profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,741
1,541
1,480
1,824
2,476
3,237
3,144
2,913
3,330
3,281
3,088
3,928
3,878
Expenses
1,507
1,331
1,163
1,395
2,099
2,781
2,792
2,567
3,020
2,982
2,573
3,229
3,127
Operating Profit
234
210
316
429
377
455
352
346
310
299
514
699
750
OPM %
13%
14%
21%
24%
15%
14%
11%
12%
9%
9%
17%
18%
19%
Other Income
265
247
222
176
222
255
34
130
164
219
268
242
320
Interest
2
2
5
2
3
4
6
3
3
5
5
5
2
Depreciation
20
25
23
24
22
24
24
24
26
35
40
42
41
PBT
477
430
511
579
574
683
356
449
446
478
738
894
1,027
Tax %
34%
35%
35%
34%
35%
36%
27%
24%
23%
25%
21%
23%
—
Net Profit
313
278
330
383
368
424
249
140
346
445
580
692
784
EPS (₹)
4.64
4.13
4.9
6.07
5.83
6.71
4.43
2.48
6.16
7.92
10.32
12.3
13.96
Div. Payout %
54%
48%
61%
66%
69%
77%
45%
121%
49%
38%
39%
41%
—

Balance Sheet

₹ Cr
ENGINERSIN balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
168
168
337
316
316
316
281
281
281
281
281
281
Reserves
2,463
2,653
2,508
2,025
2,029
2,090
1,470
1,489
1,680
1,965
2,388
2,865
Borrowings
0
0
0
0
0
5
4
4
19
33
22
17
Other Liabilities
1,356
1,342
1,551
2,173
2,416
2,685
2,687
2,404
2,408
2,454
2,574
2,707
Total Liabilities
3,988
4,164
4,396
4,514
4,761
5,096
4,441
4,177
4,388
4,733
5,265
5,869
Fixed Assets
272
242
272
257
248
274
263
263
279
298
295
338
CWIP
19
24
56
52
52
3
1
7
26
36
46
31
Investments
138
75
533
242
315
461
1,324
1,088
1,179
1,380
1,395
1,606
Other Assets
3,559
3,822
3,535
3,963
4,146
4,359
2,853
2,821
2,905
3,020
3,530
3,895
Total Assets
3,988
4,164
4,396
4,514
4,761
5,096
4,441
4,177
4,388
4,733
5,265
5,869

Cash Flow

₹ Cr
ENGINERSIN cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
65
88
236
599
549
376
171
48
−113
222
117
319
Investing
174
70
197
165
−4
−229
776
61
322
145
−44
−101
Financing
−240
−162
−284
−892
−362
−334
−904
−149
−176
−180
−185
−269
Net Cash Flow
−1
−4
150
−129
183
−188
43
−39
34
187
−112
−51
Free Cash Flow
2
88
237
570
517
358
160
23
−147
188
76
252
CFO/OP
96
115
127
205
204
132
95
54
7
93
48
70

Ratios

ENGINERSIN financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
92
89
98
112
63
77
62
48
40
37
53
45
Cash Conversion Cycle
92
89
98
112
63
77
62
48
40
37
53
45
Working Capital Days
−100
−117
−164
−215
−198
−164
−186
−179
−125
−124
−101
−60
ROCE %
16%
16%
18%
22%
25%
29%
25%
25%
24%
22%
29%
30%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Engineers India insights

64 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.32%
  • Public 19.47%
  • DIIs 16.61%
  • FIIs 8.09%
  • Others 4.47%
  • Government 0.04%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Engineers India

What does Engineers India Ltd do?
EIL is a CPSU with majority ownership of the GoI operating under the administrative control of MoPNG. The Co. provides consultancy and engineering services and undertakes turnkey contracts.
Where is Engineers India Ltd (ENGINERSIN) listed?
Engineers India Ltd trades as ENGINERSIN on the NSE and under code 532178 on the BSE.
Which sector does Engineers India Ltd belong to?
Engineers India Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the PE ratio of Engineers India Ltd?
Engineers India Ltd trades at a PE ratio of 21.55 as of 4 Nov 2026, on earnings per share of ₹13.96, against a book value of ₹59.44 per share.
What is the 52-week high and low of Engineers India Ltd?
Over the last 52 weeks Engineers India Ltd has traded between ₹163.55 and ₹321.4 as of 4 Nov 2026.
Does Engineers India Ltd pay dividends?
Engineers India Ltd has a dividend yield of 0.52%.
What is the Return on Equity (ROE) of Engineers India Ltd?
Engineers India Ltd reported a return on equity of 23.40%. Its debt-to-equity ratio is 0.01.

Company Information

EIL is a CPSU with majority ownership of the GoI operating under the administrative control of MoPNG. The Co. provides consultancy and engineering services and undertakes turnkey contracts.

Website engineersindia.com
CEO Ms. Vartika Shukla
Employees 2,650
Listed 20 Aug 1997
Face Value ₹5

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