In a significant development, Engineers India Limited (EIL), a leading state-owned engineering consultancy company, has won two big international contracts worth INR 730 crore. The orders from undisclosed Middle East clients include Project Management Consultancy (PMC) services and Engineering & Project Management Services.
According to the company’s regulatory filing dated 25 March 2025, the PMC services project is valued at INR 650 crore with a tenure of 5 years and the Engineering & Project Management Services contract is INR 80 crore with 4 years tenure. Due to confidentiality clauses, client and project details are not disclosed.
The announcement gave a boost to the stock which rose 3.6% to hit an intraday high of INR 172.28 before settling at INR 166.8, up 0.78%. However, the stock is still down 8.98% YTD.
Engineers India – Recent Business Momentum
This is the latest in a series of contracts won by EIL in recent months. Just days ago on 24 March 2025, EIL bagged an INR 252 crore Engineering, Procurement and Construction Management (EPCM) contract from Numaligarh Refinery (NRL) in Assam. The contract for the 360 KTPA polypropylene unit project further cements EIL’s position in India’s refining sector.
Moreover, on 20 March 2025, EIL announced a new business of INR 4,681 crore for the fiscal and a total order book of INR 11,350 crore. CMD Vartika Shukla said that the company has seen growth in both domestic assignments (INR 2,907 crore) and international contracts (INR 499 crore). EIL has re-entered markets like Algeria and Kuwait and is expanding its presence in the Middle East.
Global Expansion and Strategic Contributions
EIL’s international business is growing. The company has worked on global projects like Nigeria’s USD 20 billion Dangote Oil Refinery and is currently providing PMC services for a 1.5 MMTPA refinery in Mongolia financed by the Indian government’s line of credit. EIL is also involved in refining and infrastructure projects in Algeria, Bahrain and Kuwait and has proved itself to be a global player in delivering high-impact engineering solutions.
Financials and Outlook
Financially EIL has shown good growth. In Q3 FY25 the company reported 78% YoY growth in net profit at INR 93.08 crore and 95.8% growth in EBITDA at INR 98.0 crore. With this financial muscle and the latest order wins, investor confidence is expected to rise and the stock could get re-rated in the next quarters.
Conclusion
With these two international orders worth INR 730 crore, Engineers India Limited is solidifying its position as a big player in the global engineering consultancy space. The company’s diversification across geographies consistent financials and strong domestic order book are good for long-term growth. While the stock remains volatile in the near term, long-term investors may find value in EIL’s expanding international footprint and robust project pipeline.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.