Engineers India Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Engineers India Ltd filed with BSE on 18 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Engineers India reported standalone profit after tax of INR109 crores for Q1 FY27, up around 55% from INR70 crores a year earlier, with EBITDA margin improving to 18.55% from 11.72%. Consultancy segment turnover grew about 22% year-on-year to INR499 crores while Turnkey segment turnover declined to INR302 crores due to tapering of major projects. Management said order book stood at INR14,424 crores as of 30th June 2026 and order inflow for the quarter was INR514 crores, with current business inflow discussions at INR2,750 crores as of the call date.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Order book: INR14,424 crores (as on 30th June 2026)
p. 3
“Company order book position stands at INR14,424 crores as on 30th June 2026, which comprises consultancy segment of INR10,498 crores and Turnkey segment constitute of INR3,926 crores.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
Order inflow: INR514 crores (Q1 FY27)
p. 3
“Order inflow in year during first quarter of financial year '26-'27 stands at INR514 crores.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
Profit before tax: INR145 crores (Q1 FY27)
p. 3
“the company achieved profit before tax of INR145 crores in comparison to INR94 crores during the first quarter of financial year '25-'26, showing an increase of 55% approximately.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
Operating margin: 14%, INR108 crores (Q1 FY27)
p. 3
“Operating margin during the first quarter of '26-'27 stood at around 14%, that is INR108 crores as compared to 7% that is INR59 crores during the quarter ended June '25.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
EBITDA: INR155 crores, margin 18.55% (Q1 FY27)
p. 3
“EBITDA of the company as on 30th June 2026 stood at INR155 crores with EBITDA margin of 18.55% in comparison to the INR104 crores EBITDA margin 11.72% as on 30th June 2025.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
Turnover: INR801 crores (Q1 FY27)
p. 3
“Further company achieved a turnover of INR801 crores compared with INR857 crores achieved during the first quarter of financial year '25-'26.”
Sanjay Jindal, page 3 of the filed PDF · View the filing
Consultancy and Engineering segment turnover: INR499 crores (Q1 FY27)
p. 4
“The Consultancy and Engineering segment recorded a turnover of INR499 crores during the quarter compared with INR408 crores in June '25, representing a growth of approximately 22%.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
Turnkey segment turnover: INR302 crores (Q1 FY27)
p. 4
“In Turnkey segment recorded a turnover of INR302 crores in June '26 compared with INR449 crores in June '25.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
Consolidated profit: INR157.94 crores (Q1 FY27)
p. 4
“On the consolidated basis, the company earned a profit of INR157.94 crores for the quarter ended 30th June 2026 in comparison to INR65.4 crores earned during the first quarter of financial year '25-'26.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
CEIL subsidiary profit: INR6.88 crores (Q1 FY27)
p. 4
“The profit of EIL subsidiary CEIL has increased to INR6.88 crores in the first quarter of financial year '26-'27 as against INR2.69 crores in the first quarter of financial year '25-'26 with the increase in margin around 155%.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
Profit from joint venture/associates: INR42.51 crores (Q1 FY27)
p. 4
“The profit from joint venture or associated contributes INR42.51 crores in the consolidated profit, while there was a loss of INR7.37 crores from the joint venture in the Q1 of last year '25-'26.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
Current business inflow: INR2,750 crores (as of call date)
p. 4
“we are sitting at INR2,750 crores worth of business and out of which INR1,000 -- around INR1,100 crores is from the overseas and rest is from the domestic segment.”
Vivek Midha, page 4 of the filed PDF · View the filing
Consultancy segment profit margin: 24% (Q1 FY27)
p. 7
“if you see in the last year, our segment profit was 17% in the first quarter of '25-'26. But in this -- in the current quarter, it rose to 24%.”
Sanjay Jindal, page 7 of the filed PDF · View the filing
LSTK segment margin: 7.5% (Q1 FY27)
p. 7
“in the LSTK margin is also improved, and it is currently 7.5% in the first quarter of current financial year.”
Sanjay Jindal, page 7 of the filed PDF · View the filing
Middle East business secured: more than INR500 crores (Q1 FY27)
p. 8
“Recently, we have received order of more than INR500 crores from the Middle East region itself. In this quarter itself.”
Sanjay Jindal, page 8 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Order inflow — INR8,000 crores · FY27
stated conditionally by Vivek Midha
p. 5
“We are very hopeful that we should be able to meet the target of INR8,000 crores. We'll in fact, try to cross that cap.”
Vivek Midha, page 5 of the filed PDF · View the filing
Total turnover growth — at least 10% · FY27
stated firmly by Sanjay Jindal
p. 6
“Revenue growth rate, definitely, we are targeting -- in the last year, we were having total turnover of INR3,850 crores. This time, we are targeting at least 10% growth”
Sanjay Jindal, page 6 of the filed PDF · View the filing
Consultancy revenue contribution — around 50% to 60%, possibly 55% · FY27
stated conditionally by Sanjay Jindal
p. 7
“In the financial year -- current financial year, we are expecting more than 50%, but definitely, around 50% to 60%, we are still expecting from the consultancy segment and balance will come from the LSTK Turnkey segment.”
Sanjay Jindal, page 7 of the filed PDF · View the filing
Consultancy segment profit margin — 24%, 25%
stated firmly by Sanjay Jindal
p. 7
“we are sure to keep 24%, 25% segment profit in the consultancy segment.”
Sanjay Jindal, page 7 of the filed PDF · View the filing
Revenue target FY28 — INR5,000 crores · FY28
stated firmly by Sanjay Jindal
p. 13
“We are still maintaining that. And definitely, we will try to improve it.”
Sanjay Jindal, page 13 of the filed PDF · View the filing
Operating margin — 16% · current financial year
stated firmly by Sanjay Jindal
p. 14
“This year, we are targeting the operating margin of 16%, which we have achieved the last year also.”
Sanjay Jindal, page 14 of the filed PDF · View the filing
Operating margin
stated conditionally by Sanjay Jindal
p. 14
“We are finalizing some change orders with our clients also. If it is materialized, our operating margin may be more -- even more with the previous year figure.”
Sanjay Jindal, page 14 of the filed PDF · View the filing
Order inflow sustainability — INR8,000 crores · next few years
stated as an aspiration by Vivek Midha
p. 17
“Yes. We will. That's what we are working towards.”
Vivek Midha, page 17 of the filed PDF · View the filing
Turnkey segment turnover — Q3 and Q4 FY27
stated conditionally by Sanjay Jindal
p. 4
“As execution progresses, the Turnkey segment turnover is expected to increase during third quarter and fourth quarter of financial year '26-'27 once these projects reaches their planned execution.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said they are hopeful of meeting or exceeding the target given two more quarters and ongoing project discussions.
Answered by Vivek Midha
Asked by Mohit Kumar: Are you still confident of meeting the order inflow target of INR8,000 crores for the fiscal, and how much would be consultancy?
p. 5
“We are very hopeful that we should be able to meet the target of INR8,000 crores. We'll in fact, try to cross that cap.”
Vivek Midha, page 5 of the filed PDF · View the filing
Management said the Middle East market remains difficult, with few new projects, though some repair/modernization business was secured, and Saudi inquiries remain slow.
Answered by Vivek Midha
Asked by Mohit Kumar: How are Aramco consultancy bidding discussions progressing in the Middle East?
p. 5
“In the Middle East, the market situation is still very grim. Nothing is stabilized. Still there's not much is happening on the new project side.”
Vivek Midha, page 5 of the filed PDF · View the filing
Management said no write-backs are expected; provisions are reversed only after the defect liability period ends per accounting standards.
Answered by Sanjay Jindal
Asked by Deep Sanghavi: Are any write-backs of provisions expected this fiscal, including from the HPCL Barmer project?
p. 5
“No, we are not expecting any write-back of provisions. So all the provisions kept for guarantee and warranty are write-off as per accounting standard and as completion of projects only.”
Sanjay Jindal, page 5 of the filed PDF · View the filing
Management said inquiries have increased following the Hormuz crisis, with environmental studies underway and engagement with NPCIL on consultancy assignments.
Answered by Vivek Midha
Asked by Jainam Jain: How are things moving in the nuclear segment?
p. 7
“we have seen a lot of inquiries coming from the nuclear side. In fact, we are doing various environmental studies at this point of time.”
Vivek Midha, page 7 of the filed PDF · View the filing
Management said existing projects continue but new mega projects have slowed, without clients officially announcing holds.
Answered by Vivek Midha
Asked by Hardik: Has the Middle East conflict caused clients to put projects on hold?
p. 8
“But new mega projects, we have not seen much.”
Vivek Midha, page 8 of the filed PDF · View the filing
Management said government gap funding revisions have spurred feasibility study inquiries and one ongoing NTPC coal gasification project.
Answered by Vivek Midha
Asked by Shubham Borade: What is the coal gasification opportunity pipeline in consultancy?
p. 9
“The government -- as soon as the government has revised this policy and they have said that they will be giving gap funding of INR34,000 crores, many inquiries are there with respect to putting up the feasibility study.”
Vivek Midha, page 9 of the filed PDF · View the filing
Management said the RFCL project is running well and they expect similar profit on a regular basis, with dividends expected this year.
Answered by Sanjay Jindal
Asked by Deep Sanghavi: Is the RFCL revenue of around INR42 crores sustainable?
p. 9
“Yes, RFCL project is running well. And now we are expecting this kind of profit on a regular basis. We are expecting some kind of dividend in the current financial year also.”
Sanjay Jindal, page 9 of the filed PDF · View the filing
Management said they are still in initial stages with Aramco with no major inquiry yet, while continuing to target projects amid a cautious market.
Answered by Vivek Midha
Asked by Amit Anwani: Any development on the Aramco agreement given ongoing Middle East tensions?
p. 13
“On the Aramco side, we are still to get something from them. We are still in the initial stages. We have not got any major inquiry from them because I told you many of the projects have been slow.”
Vivek Midha, page 13 of the filed PDF · View the filing
Management said other investment plans are under consideration and there is no current plan to distribute entire reserves, while noting dividend payout has been high.
Answered by Sanjay Jindal
Asked by Viraj: Given growing cash reserves, is there thinking on sharing cash with shareholders beyond dividends?
p. 18
“But as of now, there is no such plans to distribute the entire reserves to the shareholders.”
Sanjay Jindal, page 18 of the filed PDF · View the filing
Management said business from the Middle East, particularly Abu Dhabi, grew significantly over the last few years and the company is now empanelled with major national oil companies.
Answered by Vivek Midha
Asked by Viraj: What is EIL's progress and positioning in the Middle East overseas market?
p. 18
“We have grown in from INR30 crores to INR1,000 crores in 3, 4 years itself.”
Vivek Midha, page 18 of the filed PDF · View the filing
Risks flagged
Middle East market remains unstable with slow new project inquiries
p. 5
“In the Middle East, the market situation is still very grim. Nothing is stabilized. Still there's not much is happening on the new project side.”
Vivek Midha, page 5 of the filed PDF · View the filing
Decline in Turnkey segment turnover due to tapering of major projects
p. 4
“The decline is primarily attributable to tapering of certain major projects.”
Sanjay Jindal, page 4 of the filed PDF · View the filing
New mega projects in the Middle East are slow amid regional tensions
p. 8
“New mega projects are under hold. Yes.”
Sanjay Jindal, page 8 of the filed PDF · View the filing
Saudi inquiries remain slow
p. 5
“there has been -- this situation, the new inquiries are a little bit slow from their side.”
Vivek Midha, page 5 of the filed PDF · View the filing
IOCL Paradip Phase 2 project delayed due to land issues and pending management approval
p. 10
“IOCL Phase 2 is, again, it's under their approval. It is -- their management has to take a call. We have not anything heard from them also.”
Vivek Midha, page 10 of the filed PDF · View the filing
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