Engineers India Ltd.

•

engineersindia.comBSE: 532178NSE: ENGINERSIN

Market Cap₹ 15,130 Cr.

Current Price

High / Low₹ 290 / 164

Stock P/E22.3

Book Value₹ 56

Price to Book3.37

Dividend Yield1.86 %

ROCE29.6 %

ROE22.6 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Lumpsum Turnkey Projects: 53.7% • Consultancy & Engineering Projects: 46.3%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 25.4%
Latest quarter profit grew 55.0% YoY, showing strong momentum
Operating margins have improved to 17.4% from 14.3%
Company has been maintaining a healthy dividend payout of 44.0%

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.42x)
A large part of profit comes from other income (25.1% of PBT)
Contingent liabilities are large at 74.3% of net worth
Company has delivered a poor sales growth of 4.4% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY TOTAL MKT NIFTY SML250 Q50 NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	30.30	-77.95	2671.00	-20.75	12.88	9.42
12.	NCC	141.00	12.65	8852.64	1.56	228.90	11.85	5811.83	12.22	16.77	9.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	808	777	856	790	611	676	750	991	857	900	1,194	899	801
	740	682	808	719	564	619	659	697	787	788	846	760	693
Operating Profit	69	95	48	72	46	57	91	294	70	112	348	138	108
OPM %	8.48%	12.25%	5.59%	9.08%	7.61%	8.46%	12.15%	29.68%	8.13%	12.45%	29.15%	15.40%	13.52%
	93	47	29	56	38	53	37	42	35	48	58	68	37
Interest	1	0	1	1	1	1	1	1	1	0	1	0	0
Depreciation	7	8	8	11	10	9	9	11	10	10	10	11	10
Profit before Tax	153	133	68	116	74	100	118	325	94	150	395	195	145
Tax %	25.54%	23.32%	26.23%	21.90%	25.61%	20.86%	25.42%	25.16%	25.26%	23.18%	23.68%	21.96%	25.29%
Net Profit	114	102	50	91	55	79	88	243	70	115	302	152	109
	2.02	1.82	0.89	1.62	0.97	1.41	1.57	4.33	1.25	2.04	5.37	2.70	1.93

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,442	1,793	2,445	3,204	3,105	2,870	3,282	3,233	3,028	3,850	3,794
	1,164	1,382	2,084	2,767	2,765	2,553	3,022	2,974	2,590	3,179	3,087
Operating Profit	278	411	361	437	340	316	260	259	439	671	707
OPM %	19.30%	22.92%	14.76%	13.65%	10.94%	11.02%	7.91%	8.02%	14.49%	17.43%	18.63%
	249	183	232	266	40	157	209	251	222	209	211
Interest	5	2	3	4	6	3	3	5	5	5	2
Depreciation	23	24	22	24	23	23	25	35	39	42	41
Profit before Tax	500	568	568	676	351	448	440	470	617	834	885
Tax %	35.02%	33.49%	34.79%	36.31%	25.98%	23.10%	22.25%	24.11%	24.56%	23.37%	23.48%
Net Profit	325	378	370	430	259	344	342	357	465	639	677
EPS	4.82	5.83	5.86	6.81	4.16	6.13	6.09	6.35	8.28	11.36	—
Dividend Payout %	62.20%	66.89%	68.30%	75.64%	43.32%	48.96%	49.28%	47.23%	48.32%	44.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 4%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 9%
5 Years:: 20%
3 Years:: 23%

STOCK PRICE CAGR

10 Years:: 8%
5 Years:: 30%
3 Years:: 22%
1 Year:: 29%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 19%
3 Years:: 19%
Last Year:: 23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	337	316	316	316	281	281	281	281	281	281
	2,439	1,952	1,960	2,030	1,420	1,644	1,825	2,030	2,339	2,762
	13	15	5	11	5	3	17	33	15	32
Trade Payables	223	218	248	280	413	319	343	441	473	582
	1,483	2,190	2,493	2,745	2,694	2,223	1,929	1,869	2,000	2,063
Total Liabilities	4,495	4,691	5,022	5,382	4,813	4,470	4,394	4,653	5,108	5,720
	233	226	218	224	220	220	238	259	255	299
Capital Work in Progress	18	23	34	2	1	6	26	36	46	31
	532	244	320	477	1,355	1,322	1,404	1,529	1,437	1,600
	11	5	10	9	4	5	6	4	4	4
	0	0	0	0	0	0	0	314	421	452
Cash & Bank	2,310	2,481	2,661	2,723	1,259	1,320	1,028	1,143	1,243	1,280
	1,391	1,711	1,779	1,947	1,975	1,596	1,692	1,368	1,703	2,054
Total Assets	4,495	4,691	5,022	5,382	4,813	4,470	4,394	4,653	5,108	5,720

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	391	863	761	594	322	176	9	210	100	304
Cash from Investing	201	170	4	-227	787	65	332	159	-30	-84
Cash from Financing	-283	-891	-361	-333	-904	-149	-175	-179	-185	-269
	149	-133	188	-189	43	-41	34	189	-115	-49

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
51.32	51.32	51.32	51.32	51.32	51.32	51.32	51.32	51.32
7.26	7.31	6.89	6.75	7.13	7.00	7.74	9.66	9.17
13.89	11.00	10.58	10.76	14.30	13.74	13.38	12.19	14.22
0.01	0.01	0.01	0.01	0.04	0.04	0.04	0.04	0.04
27.51	30.35	31.19	31.14	27.21	27.89	27.51	26.79	25.25

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Change in Auditors

2026-09-09 - Engineers India Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-08

Updates

2026-09-08 - Engineers India Limited has informed the Exchange regarding ''.

2026-09-03

Change in Director(s)

2026-09-03 - Engineers India Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-31

Updates

2026-08-31 - Engineers India Limited has informed the Exchange regarding 'Updates: Letter to shareholders Pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Engineers India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-26

Shareholders meeting

2026-08-26 - Engineers India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Engineers India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-19

Record Date

2026-08-19 - Engineers India Limited has informed the Exchange that Record date for the purpose of Dividend is 24-Sep-2026.

2026-08-19

Updates

2026-08-19 - Engineers India Limited has informed the Exchange regarding '(i) Intimation of date of 61st Annual General Meeting for FY 2025-26(ii) Intimation of record date for Final Dividend for FY 2025-26'.

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