Engineers India

Engineers India delivered a strong financial performance for FY26, with standalone turnover reaching an all-time high of ₹3,849 crores, marking a 27% increase from ₹3,028 crores in FY25. Profit After Tax (PAT) also saw a significant 37% rise to ₹638 crores from ₹465 crores in the previous fiscal year. The operating margin expanded to 16.22% in FY26 from 14.76% in FY25, and EBITDA grew to ₹877 crores from ₹658.67 crores, reflecting improved profitability and operational efficiency. For Q4 FY26, the company reported a turnover of ₹899 crores and a PAT of ₹152 crores.

The company achieved its highest-ever order book position, standing at ₹15,109 crores as of March 31, 2026, representing a substantial 28.95% increase from ₹11,717 crores on March 31, 2025. Order inflow during FY26 was ₹7,979 crores. Management has set a target to maintain and sustain order inflow around ₹8,000 crores for the current fiscal year (FY27), indicating continued business visibility. The consultancy segment accounts for over ₹10,000 crores of the current order book.

In FY26, the consultancy and engineering segment contributed ₹1,782 crores to turnover, while the turnkey segment generated ₹2,067 crores. Management expects to maintain consultancy segment profit margins in the range of 20% to 25% for FY27. Similarly, the LSTK (Lump Sum Turnkey) business segment profit margins are projected to remain stable at 5% to 7%. The Q4 FY26 margins were confirmed as normalized, with no exceptional item^📎s or change orders contributing to the higher figures.

The Middle East market is currently experiencing a slowdown and project delays, with decision-making from clients being deferred due to geopolitical and security concerns. This situation could delay new projects by a couple of months. Approximately 10-15% of the current order book is specific to the Middle East. In response to these challenges, EIL is strategically focusing on the African market, having secured a significant ₹3,000+ crore order from Dangote Refinery and a fertilizer project, with further opportunities being targeted in the region.

Domestically, EIL has not observed any project cancellations or significant delays. The company is actively pursuing new opportunities in coal gasification, which is gaining momentum due to government incentives, with potential consultancy projects valued at ₹300-400 crores each. EIL is also involved in various infrastructure projects for public sector undertakings like ONGC and NTPC, as well as sustainable energy initiatives, including a SAP plant for MRPL and a CBG plant in Maharashtra.

For FY26, Engineers India demonstrated a strong commitment to shareholder returns. The company paid an interim dividend of ₹2.5 per share, amounting to ₹140 crores. Additionally, a final dividend of ₹2.5 per share has been proposed, bringing the total dividend for the year to 100% on the face value of ₹5 per share.

EIL is leveraging technology to enhance internal processes and operational efficiency. The company has implemented AI initiatives for its costing systems and data analysis, enabling faster report generation and improved insights. A dedicated digitalization department has been established to integrate AI into various systems, reflecting a focus on modernizing operations and improving overall productivity.