Engineers India gains on bagging Rs 253-cr EPCM services order

Engineers India added 1.38% to Rs 161.25 after the company announced that it had secured an order worth Rs 252.95 crore from Numaligarh Refinery (NRL) for EPCM services for Polypropylene Unit (PPU) project.

The order involves providing engineering, procurement, and construction management (EPCM) services for a 360 kilo tons per annum (KTPA) Polypropylene Unit (PPU) project at the Numaligarh Refinery.

According to an exchange filing, the total estimated value of the order is approximately Rs 252.95 crore and the project is set to be completed in 36 months. Details regarding the specific terms of the order were not disclosed due to confidentiality agreements.

The work order was received on 13 March 2025 and clarification on contractual terms was sought from the client. The clarification was received on 17 March 2025.

Engineers India (EIL) 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 31 December 2024, the Government of India held a 51.32% stake in the company.

The company's consolidated net profit declined 21.83% to Rs 99.63 crore on a 12.77% fall in sales to Rs 688.94 crore in Q3 FY25 as compared with Q3 FY24.

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