Engineers India Secures Major Middle East Contracts Worth INR 730 Crore
At 10 AM on March 25, Engineers India’s stock was trading at INR167.52 per share, reflecting a 0.68% increase. However, the stock has seen a 23% decline over the past six months.
Engineers India Ltd announced on March 25 that it has secured two contracts worth INR 730 crore from clients in the Middle East.
One contract, valued at INR 650 crore, is for project management consultancy (PMC) services over five years. The second contract, worth INR8 crore, involves engineering and project management services for a four-year period.
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In addition, last week, the company secured an engineering, procurement, and construction management contract worth INR252.95 crore from Numaligarh Railway Ltd in Assam. This contract involves developing a 360-kilo-tonnes per annum (KTPA) polypropylene unit (PPU) at the Numaligarh refinery, with an expected completion timeline of 36 months.
Read Also : BHEL announced extension of Technology Collaboration Agreement with Vogt PowerFor the December quarter, Engineers India reported a net profit of INR93.8 crore, a significant rise from INR52.7 crore in the same quarter last year. The company's EBITDA surged by 95.8%, reaching INR98 crore from INR50 crore in the previous year.
At 10 AM on March 25, Engineers India’s stock was trading at INR167.52 per share, reflecting a 0.68% increase. However, the stock has seen a 23% decline over the past six months.
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