In This Article:
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Order Inflow: INR 5,137 crore for the first half of FY 2024-25, compared to INR 3,400 crore in FY 2023-24.
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Order Book: INR 11,155 crore as of September 30, 2024, with consultancy segment at INR 6,496 crore and LSTP segment at INR 4,650 crore.
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Revenue: INR 676 crore for the quarter ended September 2024.
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Profit Before Tax: INR 100 crore for the quarter ended September 2024, up 36% from the previous quarter.
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Net Profit: INR 79 crore for the quarter ended September 2024, up 44% from the previous quarter.
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Earnings Per Share (EPS): 1.4 for the quarter ended September 2024.
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Other Income: INR 53 crore for the quarter ended September 2024, compared to INR 38 crore in the previous quarter.
Release Date: October 30, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Engineers India Ltd (BOM:532178) reported a significant increase in order inflow, reaching INR 6,866 crore by the end of October 2024, compared to INR 3,400 crore in the previous financial year.
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The company's order book stands at approximately INR 12,000 crore, indicating a strong pipeline of future projects.
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Profit before tax increased by 36% in the second quarter compared to the first quarter of the current financial year.
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The company is maintaining a healthy segment profit margin of 20-25% in consultancy and around 5% in LSTK (Lump Sum Turn Key) projects.
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Engineers India Ltd (BOM:532178) is actively expanding its international business, with significant order bookings from its Middle East office in Abu Dhabi.
Negative Points
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Revenue from the turnkey segment saw a decline of around 19% due to the completion of major projects in the first half of the financial year.
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The company's EBITDA margins for the first two quarters were lower than the previous year's 8.8%, raising concerns about profitability.
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There is uncertainty regarding the completion timeline for the Numaligarh expansion project, which affects future revenue recognition.
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The company faces intense competition in the market, which could impact future order acquisition and profitability.
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Some major projects, such as those in the nuclear sector, are still in the initial stages, with no concrete developments yet.
Q & A Highlights
Q: Can you quantify the order received in October and specify if it's for consulting or turnkey projects? A: The order received in October amounts to INR 1,729 crore, primarily in the LSTP segment, with the remainder in consultancy. (Sanjay Jindal, Director of Finance, CFO & Director)