Key Metrics of Federal Engineers
About Federal Engineers
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | ICRA | Reaffirmed | BBB+ | A2+ | Stable | ₹13.0 Cr | View |
Credit strengths (ICRA, Mar 2026)
+ Extensive experience of promoters in crane manufacturing
FE has an established track record of close to five decades in the crane manufacturing business.
+ Healthy financial profile
The firm’s profitability has remained healthy, reflected in an RoCE in the range of 47.5%-54% over the last three fiscals.
+ Reputed customer profile and geographical diversification
FE has a reputed customer profile in the steel and engineering sectors.
Credit challenges
− Operations exposed to cyclicality in investment in steel industry
FE derives approximately 95% of its revenues from the steel sector.
− Exposure to fluctuation in steel prices and foreign exchange rates
The operating cycle/inventory conversion period for manufacturing cranes (including designing) is around 3-12 months.
− Moderate scale of operations
The firm’s scale of operations has remained modest, with an operating income of Rs. 240.4 crore in FY2025.
Could lead to an upgrade
The ratings could be upgraded if the firm is able to significantly scale up its revenues while maintaining healthy profitability levels and diversifying the user industry as well as client base, amid maintaining a healthy
Could lead to a downgrade
Pressure on the ratings could emerge if a slowdown in demand from the end -user industries materially impacts the scale of operations and profitability on a sustained basis. Any large debt funded capex or stretch in the working capital cycle that deteriorates the
Agency-reported financials (ICRA, 31 Mar 2026)
| Metric | FY2024 | FY2025 | 11M FY2026 |
|---|---|---|---|
| Operating income | ₹191 Cr | ₹240 Cr | ₹214 Cr |
| PAT | ₹33.20 Cr | ₹40.70 Cr | ₹51.20 Cr |
| OPBDIT/OI | 26.6% | 26.1% | 22.3% |
| PAT/OI | 17.4% | 16.9% | 23.9% |
| Total outside liabilities/Tangible net worth (times) | 0.80× | 0.70× | 0.60× |
| Total debt/OPBDIT (times) | 0.00× | 0.00× | 0.00× |
| Interest coverage (times) | 122.70× | 317.20× | 80.70× |
| Revenue growth (YoY) | — | 25.9% | — |
| EBITDA (margin × income) | ₹50.78 Cr | ₹62.74 Cr | ₹47.81 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹0.00 Cr | ₹0.00 Cr | ₹0.00 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹0.41 Cr | ₹0.20 Cr | ₹0.59 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term/Short term – Fund-based limits | Working capital & bank lines | ₹6.00 Cr | ₹6.00 Cr | 0.0% | BBB+ / A2+ (Stable) | Other | ICRA |
| Short term – Non-fund based limits | Non-fund based limits | ₹7.00 Cr | ₹7.00 Cr | 0.0% | A2+ | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 80% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 74% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage 80.7×
Rated limits by facility
Timeline
From the report
The ratings also draw comfort from the firm’s strong liquidity position, supported by healthy free cash and bank balance of ~Rs. 90 crore as on December 31, 2025.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.