Engineers India jumps over 7% on securing order worth Rs 4,681 crore so far in FY25

So far this year, the stock has skyrocketed over 27 percent

Shares of Engineers India surged over 7 percent to Rs 224 each following the announcement that the company secured new business worth Rs 4,681 crore for the current fiscal year (FY25) as of August 31, 2024. This boost has lifted the company's order book to approximately Rs 11,350 crore.

So far this year, this engineering and technical services stock has skyrocketed over 27 percent, outperforming the benchmark Nifty 50's 15 percent gain. The stock previously reached a new 52-week high of Rs 304 on July 12, 2024.

Catch all the market action on our LIVE blog

In its 59th annual general meeting, CMD Vartika Shukla revealed that the order book stood at Rs 7,823 crore as of March 31, 2024. Shukla highlighted that the domestic segment has been a major growth driver, contributing Rs 2,907 crore in FY24. The company's order inflow for FY24 amounted to Rs 3,406 crore.

The majority of orders continue to come from the core oil and gas sector, though recent years have seen growth in orders from infrastructure and green energy segments. Engineers India is also expanding into biofuels, with ongoing work on the Assam Biorefinery project.

Internationally, the company has secured FEED assignments for the AGRP revamp at the MAA refinery in Kuwait and an engineering design package for the installation of desalters at the BAPCO refinery in Bahrain.

Engineers India provides a range of services including design, engineering, procurement, construction, and integrated project management, primarily for the oil, gas, and petrochemicals industries, both domestically and abroad. Additionally, it plays a crucial role in engineering consultancy for India's energy security initiatives, including strategic crude storage.

Currently, seven brokerages cover Engineers India stock: four recommend 'buy,' two suggest 'hold,' and one has a 'sell' rating.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.