Engineering Firms

Cap goods, engineering firms see new order wins worth Rs 2 trn in H1FY25

Industry sources estimate sluggish demand for cement, slow awarding for roads in the first half

Pritika Group eyes Rs 950 cr sales in 3 years with order book of Rs 650 cr

Engineering and automotive components maker Pritika Group is eying Rs 950 crore sales in next three years on the back of strong order book of Rs 650 crore. This growth plan is driven by rising demand in the engineering and automotive components industry, a company statement said on Monday. "We target to achieve sales of about Rs 900 crore to Rs 950 crore, with a PAT (profit after tax) margin of 7-10 per cent in the next three years," said Harpreet S Nibber, Managing Director, Pritika Engineering Components Ltd. Building on a strong performance in financial year 2023-24 and a robust start in the April-June quarter of FY25, the company aims to capitalize on the rising demand in the engineering and automotive components industry, he added. Pritika Group has demonstrated strong financial performance in the past fiscal year, FY2023-24, it said. Pritika Auto Industries Ltd reported a consolidated total income of Rs 343.71 crore in the last fiscal, a year-on-year growth of 15.74 per cent

Chevron to set up engineering & innovation center with $1bn investment

The centre will focus on improving operational reliability, low-carbon energy solutions, and subsurface geology for carbon storage

Salasar Techno Engineering Q1 results: Net profit rises 3.5% to Rs 10.49 cr

EPC player Salasar Techno Engineering Ltd on Wednesday reported a nearly 3.5 per cent rise in consolidated net profit to Rs 10.49 crore in June, on account of higher income. It had posted a net profit of Rs 10.14 crore in the April-June period of the preceding financial year, the company said in a regulatory filing. The company increased its total income to Rs 295 crore in the June quarter from Rs 262 crore a year ago. During the quarter, its expenses stood at Rs 280 crore against Rs 248 crore in the first quarter of FY24. Salasar Techno Engineering Ltd is a steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.

Patel Engineering Q1 results: Net profit jumps 26% to Rs 48.17 cr

Patel Engineering Ltd on Tuesday reported a 25.81 per cent rise in its consolidated net profit to Rs 48.17 crore in the April-June quarter of 2024. It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing. The company's revenue from operations declined by 1.52 per cent to Rs 1,101.66 crore in the June quarter. It was at Rs 1,118.61 crore in the year-ago period. Patel Engineering's Managing Director Kavita Shirvaikar said, "Our focus remains on delivering long-term value for our stakeholders while continuously enhancing operational efficiency and output." "With this strong foundation in place, we are poised to build a brighter future for Patel Engineering Limited and creating lasting value for India's infrastructure development," she added. The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

Gensol Engineering Q1 result: PAT grows over 2-fold to Rs 32.5 cr

Gensol Engineering on Monday posted over two-fold growth in standalone profit after tax (PAT) Rs 32.5 crore for the quarter ended June 2024 on higher revenues. It had reported a PAT of Rs 12.3 crore in the April-June period of the preceding 2023-24 financial year, the company said in an exchange filing. The company's revenues surged to Rs 275 crore from Rs 147 crore in the year-ago quarter. Gensol Engineering Ltd Chairman and Managing Director Anmol Singh Jaggi said, "Our performance in Q1 FY25 has been exceptional. Gensol is expanding its presence in current and new business segments like Solar, BESS (battery energy storage systems) & EV Leasing, which are poised for significant growth in the near future, boosting our overall profitability". The renewable energy space is experiencing rapid expansion, driven by increasing demand for sustainable solutions and supportive government policies, he added. Gensol Engineering recently bagged a Rs 463 crore solar plant project at Gujarat's

Kirloskar Oil Engines Q1 results: Net profit rises 7% to Rs 117 cr

Kirloskar Oil Engines on Wednesday said its standalone net profit increased by 7 per cent to Rs 117 crore in three months to June over the same period last year. The standalone profit after tax for the company was Rs 109 crore in the April-June period of FY24, the Pune-based company said in a statement. Net sales for the quarter were Rs 1,334 crore, an increase of 6 per cent over Rs 1,256 crore achieved in Q1FY25, the company said. The company also said it delivered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 174 crore for the previous quarter as against Rs 162 crore in the June quarter of FY 24. EBITDA margin was 12.9 per cent compared to 12.8 per cent for Q1 FY 24. Cash and cash equivalents for the June quarter stood at Rs 410 crore, the company said, adding net of debt includes treasury investments and excludes unclaimed dividends. "We have a good start of the year with the highest ever Q1 numbers for KOEL standalone. The top-line growth of 6

Honeywell India's Q1 profit jumps to Rs 137 cr on order execution

The Indian unit of US-based Honeywell International reported a profit of Rs 137 crore (around $16 million), compared to Rs 103 crore a year ago

Balu Forge Q1 result: PAT up over two-fold at Rs 34.16 cr on higher income

Precision engineering and manufacturing firm Balu Forge on Monday said its on-year net profit grew over two-fold to Rs 34.16 crore in the April-June quarter this year, driven by higher income. The company had posted a net profit of Rs 16.67 crore in the April-June period of FY24. The company said revenue from operations for the reporting quarter stood at Rs 175.3 crore, up 56 per cent from Rs 112.38 crore in the first quarter of the earlier fiscal, helped by focus on client addition and continued demand for the specialised engineering products. The company's EBITDA (Earnings before interest, taxes, depreciation and amortization) grew by 97.31 per cent, while margins expanded by 516 bps from 19.48 per cent in Q1FY24 to 24.64 per cent in Q1FY25, on account of increase in scale of operations and increased demand for heavier products which tend to yield better margins, Balu Forge said. "Our robust financial performance was an outcome of our dedicated strategy implementation focused on

Thermax stock hits new high, up 4% on securing order worth of Rs 513 crore

Thermax, in an exchange filing, said Thermax Babcock & Wilcox Energy Solutions Limited, a wholly-owned subsidiary of the company, has concluded an order of Rs 513 crore for supply of 2X 550 TPH boiler

Thermax Babcock bags order worth Rs 513 cr to supply 2 boilers in Botswana

Thermax Babcock & Wilcox Energy Solutions on Friday said it has bagged a Rs 513-crore order from a leading industrial conglomerate to supply two boilers for an energy project in Botswana, Southern Africa. The company will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months, according to a company statement. Thermax Babcock & Wilcox Energy Solutions Ltd (TBWES), a wholly owned subsidiary of Thermax, has concluded an order of Rs 513 crore from a leading industrial conglomerate, setting up a 600 MW greenfield energy project in Botswana, Southern Africa, the statement said. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer. The designing, engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing will be undertaken by TBWES. The power generated is intended for sale to the national utility power company for ...

With geo-political concerns, engg firms nudge suppliers to 'Make in India'

These firms are either tying up with Indian entities of their foreign suppliers, or urging foreign suppliers to set shop in India

Infosys to acquire German firm in-tech in 450 mn euro all-cash deal

Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe

Tech industry growth projected to halve to 3.8% in FY24 compared to FY23

Industry expected to generate additional $9.3 billion in revenue, spanning across IT services, business process management engineering services: Nasscom

TCS has one of world largest AI-ready workforce: CEO Krithivasan

IT company has trained 300,000 employees in basic foundational AI skills

Boeing, AIESL to jointly boost aircraft maintenance training activities

Aircraft maker Boeing and AI Engineering Services Ltd (AIESL) will collaborate to enhance aircraft training activities in India. As part of the collaboration, Boeing will provide training materials, aids, and instructor support to help ensure the standardisation of AIESL training programmes. "AIESL will provide infrastructure and instructors, while securing Civil Aviation Regulation (CAR)147 approval from the Indian regulatory authority to conduct maintenance training for customers," Boeing said in a release on Tuesday. According to Boeing's 2023 Pilot and Technician Outlook, the country will require almost 33,000 pilots and 34,000 maintenance technicians through 2042. AIESL CEO Sharad Agarwal said the tie up with Boeing will go a long way in supporting industry requirements. "AIESL would be able to support training requirements for at least 100 engineers each year going forward," he added. In the release, Civil Aviation Secretary Vumlunmang Vualnam said the collaboration between

Kilburn Engineering acquires turnkey solutions provider M E Energy

The acquisition, effective February 20, 2024, was made for an aggregate consideration of Rs 98.70 crore

Patel Eng Q3 results: Profit grows to Rs 70 cr, total income at Rs 1,076 cr

Patel Engineering Ltd (PEL) has reported a multi-fold jump in its consolidated net profit to Rs 70.2 crore during the quarter ended December 2023, supported by higher income. It had clocked a net profit of Rs 19.4 crore during the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income rose to Rs 1,076.1 crore from Rs 980.6 crore a year ago. Expenses stood at Rs 1,030.9 in the reporting quarter as against Rs 940.5 crore in the third quarter of last fiscal. In a separate statement, the company's CMD Rupen Patel said, "Our adaptability and resilience are evident in our increased turnover of Rs 3,200 crore in the nine-month period, marking a 19.17 per cent growth as against the corresponding period in the last year." The company is expected to sustain an upward trajectory through various projects and joint ventures, he said. Kavita Shirvaikar, whole-time director & CFO said, "With a focus on prudent financial ..

Rs 8.45 trillion & rising: Orders flood major capital goods firms

"This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector

GCCs to lease 62 million sq. ft. in India by 2025: CBRE Asia report

By 2025, it is estimated that there will be about 1,900 total operational GCCs in the country, up from the existing 1,580