Engineers India Shares Surge on ₹4,681 Crore New Orders

13 Sep 2024 , 01:43 PM

Engineers India shares rose over 7% to ₹224 each following a major new business win. The company secured new orders worth ₹4,681 Crore for FY25 as of August 31, 2024, boosting its total order book to around ₹11,350 Crore.

At the time of writing on September 13, 2024 at 1:43 pm, shares of Engineers India are trading at ₹222.55 which is a 1.92% dip than the previous close. Engineers India has witnessed a total of 51% gain in the last one year, and almost 22% gain since the beginning of the year. The stock previously peaked at ₹304 on July 12, 2024, a 52-week high.

As of March 31, 2024, the company’s order book was ₹7,823 Crore, with significant contributions from the domestic sector amounting to ₹2,907 Crore in FY24.

Order inflow for FY24 reached ₹3,406 Crore, with a strong focus on the oil and gas sector, and growing orders from infrastructure and green energy sectors.

Engineers India is also venturing into biofuels, with ongoing projects like the Assam Biorefinery. Internationally, the company has secured FEED assignments for the AGRP revamp at the MAA refinery in Kuwait and an engineering design package for desalters at the BAPCO refinery in Bahrain.

The company offers services in design, engineering, procurement, construction, and project management, mainly for oil, gas, and petrochemicals, and supports India’s energy security through strategic crude storage initiatives.