Engineers India gains on bagging MRPL order for bio-ATF plant

Engineers India advanced 2.97% to Rs 81.60 after the company secured an order from Mangalore Refinery & Petrochemicals (MRPL) for preparation of BDEP, DFR and pre-project activities for bio-ATF plant at MRPL.

The EPC company has been selected by MRPL for preparation of basic engineering design package (BDEP), detailed feasibility report (DFR) and pre-project activities for bio-ATF plant at MRPL.

The bio-ATF plant, having non edible oils and used cooking oil as feedstock, shall be first of its kind in India and based on technology developed by Council of Scientific and Industrial Research-Indian Institute of Petroleum (CSIR-IIP) and Engineers India.

"Bio-ATF also known as Sustainable Aviation Fuel (SAF) fuels would not only contribute to India's Net zero Carbon emission target, but also help in fulfilling Hon'ble PM's vision of reducing crude oil and indirectly providing livelihood to farmers," the company said in a statement.

Engineers India is an engineering consultancy and technology licensing company in the fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other sectors of industry, having a DSIR-recognized R&D center. As of 30 September 2022, the Government of India held a 51.32% stake in the company.

The company reported a consolidated net profit of Rs 75.16 crore in Q2 FY23, steeply higher than Rs 17.04 crore posted in Q2 FY22. Net sales jumped 20.7% year on year to Rs 793.06 crore in quarter ended 30 September 2022.

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