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Engineers India Ltd.

BSE: 532178 Sector: Engineering
NSE: ENGINERSIN ISIN Code: INE510A01028
BSE 00:00 | 17 Feb 81.75 -2.95
(-3.48%)
OPEN

84.50

HIGH

84.70

LOW

80.90

NSE 00:00 | 17 Feb 81.85 -2.80
(-3.31%)
OPEN

84.55

HIGH

84.80

LOW

80.70

OPEN 84.50
PREVIOUS CLOSE 84.70
VOLUME 98431
52-Week high 128.60
52-Week low 80.90
P/E 13.06
Mkt Cap.(Rs cr) 5,166
Buy Price 81.35
Buy Qty 10.00
Sell Price 81.75
Sell Qty 59.00
OPEN 84.50
CLOSE 84.70
VOLUME 98431
52-Week high 128.60
52-Week low 80.90
P/E 13.06
Mkt Cap.(Rs cr) 5,166
Buy Price 81.35
Buy Qty 10.00
Sell Price 81.75
Sell Qty 59.00

Engineers India Ltd. (ENGINERSIN) - Company History

Engineers India Ltd (EIL) is an engineering consultancy company providing design engineering procurement construction and integrated project management services principally focused on the oil and gas and petrochemicals industries in India and internationally. The company operates in a diverse set of other sectors including non-ferrous mining and metallurgy and infrastructure. They are also a primary provider of engineering consultancy services for the GoI's energy security initiative under its Integrated Energy Policy for strategic crude storages. Engineers India Ltd is a public-listed company under the Ministry of Petroleum and Natural Gas. The company's services include preparation of project feasibility reports technology selection project management process design basic and detailed engineering procurement inspection project audit supply chain management cost engineering planning and scheduling facilitation of statutory and regulatory approvals for Indian projects construction management and commissioning. The company also provides specialist services such as heat and mass transfer equipment design environmental engineering services specialist materials and maintenance services energy conservation services plant operation and safety services. They also execute projects on a turnkey basis. The company's business is aligned into two principal operating segments: the Consultancy and Engineering segment and the Lumpsum Turnkey Projects segment. The projects on which the company provides engineering consultancy and project management and implementation services are included in the Consultancy and Engineering segment. The projects that they undertake on a turnkey basis are included in their Lumpsum Turnkey Projects segment. With corporate office in New Delhi EIL also operates from its office in Gurugram branch office in Mumbai three regional engineering offices in Kolkata Chennai & Vadodara and has inspection offices at all major manufacturing locations of the country. The company's overseas presence is marked by an engineering office in Abu Dhabi which caters to the business needs in UAE/Middle-East region. Additionally there are offices in London Milan and Shanghai to coordinate the activities of international procurement and marketing.EIL has a wholly owned subsidiary Certification Engineers International Limited (CEIL) which provides services in the field of certification re-certification third party inspection services. The company has also established a Joint Venture viz Ramagundam Fertilizers and Chemicals Limited (RFCL) with National Fertilizers Limited (NFL) and Fertilizer Corporation of India (FCIL) for revival of Ramagundam Fertilizer Plant.Engineers India Ltd was incorporated in the year 1965 to provide engineering and related technical services for petroleum refineries and other industrial projects. In the year 1967 the company became a wholly owned Government company. In the year 1969 they diversified into petrochemicals.In the year 1971 the company formed Ocean Engineering Department. They commenced their first metallurgical project in the year 1972. In the year 1973 they entered into Fertilizers and Pipeline projects and also opened the procurement office in London. In the next year they got their first overseas assignment. In the year 1976 the company formed the training division and in the next year they got their first Oil & Gas processing project.In the year 1989 the company opened their own R&D Centre at Gurgaon. In the year 1992 they opened their Engineering Office in Qatar. In the year next year they opened their regional offices in Chennai and Vadodara. In the year 1993 the company formed EIL Asia Pacific Sdn Bhd as a wholly owned subsidiary company and in the next year they formed another wholly owned subsidiary company namely Certification Engineers International Ltd. In the year 1996 the Government of India disinvested about 6% of their holding in the company through a private placement to certain banks mutual funds etc. In the year 1997 the company was awarded the 'Mini Ratna' Status by the Government of India. In the year 1998 the company diversified into LNG and Refinery Residue based Power Plants. In the next year they entered into Turnkey Contracting in which they undertook turnkey projects in the areas of Offshore Platforms and Offsite Automation.During the year 2001-02 the company received two orders for LSTK job from ONGC for their MNW Platform project for a value of Rs 820 crore and N11/N12 Well Platforms Project for a value of Rs 400 crore. Also they secured new business totaling Rs 1331 crore. They completed and commissioned Hazira-Dahej Gas Pipeline of IPCL Vizag-Vijaywada Multiproduct Pipeline to Secunderabad of HPCL and Cochin-Coimbatore-Karur Multi-product Pipeline of Petronet CCK Ltd. Also they completed the 204 km long 18' dia Tatipaka-Kondapale Pipeline Project of GAIL along with modification ofterminal at Tatipaka. During the year the company commissioned third Gas Turbine for BPCL's Captive Power Plant expansion project at Mahul Mumbai. Also they set up Front-End Marketing and Engineering offices at Abu Dhabi and Qatar to service the oil and gas projects in the Gulf region. Through these offices EIL secured and executed a number of consultancy assignments.In September 2001 they commissioned the Fluid Catalytic Cracking Unit at Haldia Refinery. In December 2001 the 600000 TPA Diesel Hydrotreater Project with associated facilities at Guwahati Refinery was mechanically completed. In the area of Port & Terminals the POL jetty with topside facilities for BPCL at Jawaharlal Nehru Port was commissioned in February 2002.During the year 2002-03 the company completed the major refinery projects such as Second DHDS Reactor Project of Kochi Refineries Diesel Hydrotreater Solvent Dewaxing and Hydrogen Units of IOCL at Digboi Diesel Hydrotreater Unit of IOCL at Guwahati Diesel Hydrotreater and FCC Units of IOCL at Barauni and The FCC Revamp at BPCL's Mumbai Refinery. In the Pipeline division they completed the Mangalore-Bangalore multi-products. During the year in the Onshore Oil & Gas jobs pertaining to LBDP expansion and gas plant for Niko Resources Ltd. Gas Metering Station at ONGC Hazira Improved Oil Recovery Project at ONGC Gandhar and NTGG Project at GAIL Vaghodia were completed. In the Offshore Oil & Gas they commissioned the fifth process Gas Compressor at HRC platform in the Heera field the BHN Process Revamp project augmentation of living accommodation at NLW platform and engineering of the STD platform in South Tapti field. In the Metallurgy division they completed the Nalco Alumina/ Aluminium expansion project. Also they commissioned the Aluminium Smelter Expansion Project of INDAL at Hirakud.During the year 2003-04 the company completed the major refinery projects such as Hydrotreating Project of IOCL at Digbol and 3 MMTPA Refinery Expansion Project of CPCL Chennai. In Petrochemicals they completed the FEED Packages for Instrumentation Modernisation of KNPC Kuwait. In the Pipelines the company completed the projects such as Dahej-Vijaipir Product Pipeline of Gail Extension of Mumbai-Munmad Pipeline of BPCL and Vizag-Secundarabad LPG Pipeline of Gail. Also they completed the MNW offshore project and N11/N12 platform project of ONGC.During the year 2003-04 the company completed some of the major refinery projects such as 6 MMTPA Refinery Modernisation Project of BPCL Mumbai and AVU Revamp at Mathura Refinery of IOCL. They completed the prestigious 610 Km long 42 inch diameter Dahej-Vijaipur Pipeline for transporting re-gasified LNG from the coast of Dahej in Gujarat to the HBJ Pipeline. Also they completed FEED Services Contract for Inter Refineries Pipelines (IRP) Project of Takreer an ADNOC Group of Companies of Abu Dhabi. The Export Pipeline Project of Hazira LNG (Shell Group Company) Mora- Sajod Pipeline Project of Gujarat State Petronet Ltd and Blue Sky Pipeline Project of GAIL were the domestic projects which were completed during the year.During the year 2005-06 the company completed the refinery projects such as DHT CDU/VDU OHCU Sulphur Block and associated Utilities & Offsites for Panipat Refinery Expansion Project of IOCL Capacity Expansion cum Modernisation Project Phase-I at Kochi of KRL and Reconstruction of FCC Unit at Gujarat Refinery Vadodara of IOCL. The Metallurgy division completed the some of the projects such as Engineering services for 1.4 MMTPA Greenfield Alumina Refinery Project of Vedanta Aluminia at Lanjigarh and Preparation of Concept Study for 1.5 MMTPA Greenfield Alumina Refinery and Mining Complex in Orissa for BHP Billiton the world's largest mining & base metals company in the world.During the year the company completed some of the overseas assignments such as Ahwaz-Marun gas Compression & Treatment Plant of Iran International Engineering Company third Aromatics Plant of Bou Ali Sina Petrochemicals Company and Expansion of Olefins Plant of Bandar Imam Petrochemical Company. Also the Plant Operations & Safety division commissioned Hydrocracker Unit of Mumbai Refinery Modernisation Project of BPCL and Hydrogen DHT and Hydrocracker Units of Panipat Refinery. In November 2005 the expansion of UP Petrochemicals Complex of GAIL at Pata was completed and successfully commissioned. In December 2005 ONGC awarded the job for Revival of MNW Platform on EPC basis and in February 2006 D-1 Well Cum Water Injection Project of ONGC was commissioned.During the year 2006-07 the company completed three major refinery projects namely Motor Spirit Quality Upgradation Project at Gujarat Refinery Vadodara of IOCL 10.5 MMTPA CDU/VDU at Vadinar Refinery of Essar Oil and Expansion of Panipat Refinery of IOCL to 12 MMTPA. In the Petrochemicals Division they commissioned the PTA Project of Panipat Refinery. In the Pipelined division they completed 343 km multi product Pune-Sholapur pipeline of HPCL and 776 km Mumbai-Manmad-Manglaya pipeline extension of BPCL. Also they started pre-project activities on the 1092 km Mundra-Bhatinda Crude Oil Pipeline of GGSRL for the upcoming Bhatinda Refinery.During the year the Metallurgy division bagged consultancy services contracts from National Mineral Development Corporation for some of their upcoming projects. In the Turnkey projects they commissioned the Rs 821 crore Paraxylene Plant. They completed the overseas assignments such as Engineering Consultancy Services for Shuaiba Petrochemicals Complex of Equate Petrochemical Company Kuwait and Product storage Tanks at Buipe and Bolgatanga for BOST Ghana. In December 2006 they completed the MNW revival project in Mumbai.During the year 2007-08 the company completed the Refinery Project of Essar Oil at Vadinar. Green Fuel & Emission Control Project of HPCL Mumbai Clean Fuel Project at Visakh Refinery of HPCL and Diesel Hydeotreated Project (DHDT) of BRPL are at an advanced stage of construction. In the Pipelines they completed 340 km Dabhol-Panvel Gas Pipeline of GAIL and 1066 km Mundra-Delhi Multi-Product Pipeline of HPCL. Also Work on 660 km Numaligarh - Siliguri Pipeline of Oil India the 935 km Vadinar - Bina Pipeline for transportation of crude oil to Bina Refinery and the 1012 km Mundra - Bathinda Crude oil Pipelining of HMPL for transporting crude to the Guru Gobind Singh Refinery Project are progress.In the Onshore Oil & Gas the work on Expansion of Dahej LNG Terminal of Petronet LNG Ltd from 5 MMTPA to 10 MMTPA for which EIL is providing PMC services is progressing well. In the Metallurgy Muri Alumina Refinery Expansion Project of Hindalco was successfully completed. They completed the seven overseas assignments during the year. The Government of India had approved setting up strategic crude oil storages in the country at three locations namely Visakhapatnam Mangalore and Padur. In September 2007 a new HDPE Unit of Petrochemicals Complex at Pata of Gail was mechanically complete and successfully taken into commercial production in December 2007. During the year the company was awarded EPCM contract for the grass roots Petrochemicals Complex being set up at Lepetkata near Dibrugarh as part of the Assam accord of Brahmaputra Cracker and Polymers Ltd. The company was also awarded the preparation of a feasibility report for setting up a polypropylene complex at Mangalore based on propylene recovered from FCCU LPG for ONGC Mangalore Petrochemicals Ltd. During the period they bagged the prestigious 588 km Vijaipur- Dadri - Bawana Gas Pipeline Project of GAIL besides Bina - Kota Pipeline Project of BPCL. The company was successful in bagging the green field 1.4 MMTPA Alumina Refinery Project of JSW Alumina Ltd.During the year 2008-09 the company commissioned three Mumbai Offshore Control Centres of ONGC. In Metallurgy the company was awarded two major engineering consultancy jobs namely 0.36 MMTPA Smelter at Sambalpur Orissa of Hindalco and 0.36 MMTPA Smelter at Singrauli MP of Hindalco. In July 2008 the company and Tata Projects Ltd formed a joint venture to undertake projects in the hydrocarbon sector.During the year the company entered into an MoU with Siirtec Nigi Italy for the supply of Technology and Basic Design & Engineering Package of Sulphur recovery units with tail gas treatment to achieve sulphur recovery in excess of 99.8%. Also EIL-SINI combine was awarded the job for supply of Technology and Basic design and engineering package for the MRPL Phase-III Project.During the year 2009-10 Gujarat State Petroleum Corporation (GSPC) awarded PMC services contract to the company for projects Wellhead Platform and Process-cum-Living Quarter Platform. The company received work orders from ONGC for providing consultancy services for Cluster-7 BHE and MNW-N-15 Pipeline of MNHRD Phase-II Project and WIN Revamp Project. Also they received a work order from MRPL for executing SPM and Associated facilities including Subsea Pipeline Booster Station and Onshore Pipeline on OBE basis.During the year the company commissioned Gas Gathering Station-I as part of Rudra Sagar Modernization project of ONGC under Assam Asset. They received the project for onshore gas processing faclities for Deen Dayal Field Development Project on OBE basis. The company's Metallurgy Division completed the Engineering work for Rectiformer Replacement for Reduction Lines 1&2 of Aluminium Bahrain (ALBA). In August 2010 the Government of India divested 10% of the paid up capital in the company. Thus the shareholding of Government of India in the company reduced to 80.401% from 90.401%.In 2011 the company established the joint venture company Jabal EILIOT Company Limited with Jabal Dhahran Company Limited and IOT Infrastructure & Energy Services Limited in the Kingdom of Saudi Arabia (KSA). During the year Engineers India commenced work in the nuclear energy segment as well as the solar energy segment. During the year 2012-13 Engineers India entered into production sharing contract with the Government of India for exploration blocks. The year also marked the company's expansion into overseas fertilizer projects.In 2014 the company received OHSAS 18001 and ISO 14001 certification. During the year the company successfully completed Further Public Offer (FPO) of 10% of paid-up equity share capital. During the year the Government of India accorded the Navratna status to the company. In 2015 Ramagundam Fertilizers and Chemicals Ltd. was formed as a joint venture company among Engineers India NFL and FCIL for revival of Ramagundam Fertilizer Project.In 2016 the Government of India completed the Offer for Sale (OFS) for divestment of 10% stake in the company. During the year Engineers India received ISO 9001:2015 certification.In 2017 the company completed buyback of its own equity shares. Pursuant to the Public Announcement published on 17 June 2017 and letter of offer dated 17 July 2017 the company bought back its 4.19 crore equity shares at a buyback price of Rs 157 per share through tender offer route under Stock Exchange Mechanism and extinguished these shares on 16 August 2017.During the year 2018 technical bid evaluation of EPC packages of Chhara LNG Project of HPCL Shapoorji Energy Pvt. Limited (HSEPL) a Joint Venture between Flindustan Petroleum Corporation Limited (HPCL) and Shapoorji Pallonji Ports Private Limited were successfully completed.