EIL This autumn Results: Firm posts revenue at Rs 159 crore; income rises 7.5% YoY

May 27, 2023 | blog

Engineers India Ltd’s (EIL) revenue rose by 1 / 4 within the January-March interval to Rs 159 crore as extra tasks achieved completion. New companies secured by the corporate within the yr 2022-23 almost tripled to Rs 4,700 crore from Rs 1650 crore within the earlier yr.

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

“It’s important that we are very lean and cashflows are very healthy,” mentioned Vartika Shukla, chairperson and managing director of EIL, pointing towards a discount in debtors and commerce receivables for the agency.

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

In the present monetary yr, EIL has already secured new enterprise orders value Rs 650 crore, with about 30% from abroad purchasers. The order guide stood at Rs 9,079 crore at March-end, of which 15% is from tasks overseas. EIL’s worldwide enterprise is especially concentrated within the Gulf, Africa, Mongolia, and Guyana. It’s working with the UAE’s Adnoc on a few of its tasks.

About 75% of EIL’s tasks are linked to refineries and petrochemicals. The oil and fuel sector stays the mainstay of EIL’s enterprise, however given the worldwide transition push, the corporate can also be diversifying into inexperienced hydrogen, biorefinery, and carbon seize and utilization.

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