Engineers India Limited ↗

EIL is a Central Public Sector Enterprise (CPSE) with majority ownership (51.32% shareholding as on June 30, 2026) of GoI operating under the administrative control of Ministry of Petroleum and Natural Gas (MoPNG). The company enjoys ‘Navratna’ status, a status aimed at facilitating expansion of CPSE’s operations in domestic and global markets. Development of infrastructure assets in oil and gas and petrochemicals fields is of national importance, and hence, EIL as an engineering partner has an

EIL has over six decades of experience in C&E services across sectors, especially in hydrocarbon space with significant track record across the entire oil and gas value chain. The company has a research & development (R&D) centre at Gurgaon and has developed over 40 process technologies for oil and gas processing, refineries and petrochemical industries EIL holds 58 live patents for such process technologies and patents for another 74 technologies are pending as on March 31, 2026. Its experience

EIL had an outstanding orderbook of ₹14,424 crore as on June 30, 2026, compared to ₹12,144 crore on June 30, 2025, which translates to 3.66x the total operating income (TOI) for FY26 providing a strong revenue visibility. The company’s order book comprised ₹10,498 crore worth of works in the C&E segment and the balance ₹3,926 crore from the turnkey segment as on June 30, 2026. The contribution of C&E segment to the outstanding orderbook improved from 56% as of June 2025 to 73% as of June

EIL has a sound financial position with robust capital structure backed by significant net worth build-up over the years and negligible debt levels. EIL does not have external debt in the books except lease liabilities and mobilisation advances. Total outside liabilities to net worth (TOL/TNW) stood at 0.73x as on March 31, 2026 (PY: 0.78x). Requirement for fund-based lines has been low as internal accruals have been sufficient to fund operations.

Sustained demand for transportation fuels and industrial energy across global economies is expected to support growth in the global oil refining market, which is projected to expand at a compound annual growth rate (CAGR) of 1.63% during 2026-2034. India is set to be the largest and most stable contributor to global primary energy demand growth. Urbanisation, industrialisation, and the emergence of a wealthier middle-class keen for mobility and tourism, plus efforts to achieve greater access to

Under the administrative control of MoPNG, EIL majorly undertakes engineering work for the hydrocarbons and petrochemicals segment, and hence, the order book continues to be concentrated in oil and gas segment, which account for ~70-80% of the order book over the past three years. Dominance of the sector is expected to continue while there has been initiative to diversify to civil segments also. Presently, the strong outlook of the sector provides order visibility. However, in the long term, div

Over the years, EIL has made investments in few companies from its existing cash and bank balances, Ramagundam Fertilizers and Chemicals Limited (RFCL) and Numaligarh Refinery Limited (NRL), wherein it holds 26% and 4.37% stake, respectively, as on March 31, 2026. While there is no additional investment in RFCL since FY23, EIL had participated in the rights issue for 1.26 lakh equity shares in NRL to maintain its shareholding in NRL at a price of ₹110 per share amounting to ₹138 crore. In FY26,