Engineers India Ltd., incorporated in the year 1965, is a Mid Cap company (having a market cap of Rs 3948.35 Crore) operating in Services sector.
Engineers India Ltd. key Products/Revenue Segments include Turnkey Project and Engineering Consultancy for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 681.68 Crore, down -11.38 % from last quarter Total Income of Rs 769.24 Crore and down -8.11 % from last year same quarter Total Income of Rs 741.88 Crore. Company reported net profit after tax of Rs 56.47 Crore in latest quarter.
Investment Rationale
Given the investment in various assets and the cash balance, the brokerage has valued the core profit separately and added back the cash and the investments in Numaligarh and fertiliser business. RoEs are expected to trend high due to lean balance sheet and free cashflows, which are set to be positive. Given the healthy growth outlook, the brokerage maintains BUY rating on the stock with a revised target price of Rs109 (previously: Rs116).
Promoter/FII Holdings
Promoters held 51.32 per cent stake in the company as of 30-Sep-2021, while FIIs owned 6.03 per cent, DIIs 12.79 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
