Ashok Kumar Purwaha, Chairman of Engineers India says the industry has been facing slow pace of growth on projects side for almost a year. “We are evaluating newer geographies in international markets,†he told CNBC-TV18 in an interview.
Engineers India announced its fourth quarterly earnings. The company saw an increase of 14.96% in standalone net profit to Rs 190 crore for the quarter ended March 31, 2012 as compared to Rs 165 crore in the same period last year.
Ashok Kumar Purwaha chairman of Engineers India Ltd (EIL) says the company doesn’t require any borrowings in FY12. “We are a zero debt company today and are sitting on a cash of about Rs 2,000 crore. We don't need to go in for any borrowings.”