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Reduce Engineers India Ltd For Target Rs.143 - Yes Securities Tender pipeline remains positive Our view Engineers India Ltd (ENGR) reported a muted result, with flat YoY revenue growth. Gross margin contracted ~50bps YoY. Due to reversal of certain provisions, EBITDA margin expanded YoY at 8.5%. Order inflows at Rs12.6bn grew on a low base of Rs2.2bn. As on 1QFY24 order book stands at ~Rs81bn (2.5x TTM revenue), providing revenue visibility for next few quarters. Going forward, management expects FY24 order inflows to match FY23 levels and revenue...
Reduce Engineers India Ltd For Target Rs.143 - Yes Securities
Reduce Engineers India Ltd For Target Rs.143 - Yes Securities
Source: Yes Securities Ltd
21/08/2023 2:13:01 PM
Buy Engineers India Ltd For Target Rs.175/190 - LKP Securities Future Outlook • With Order Inflows of Rs 45bn and key focus on new age verticals, Engineers India shareholders have had a lot to cheer in recent times. • Healthy Order Pipeline from the Petrochemical segment coupled with a strong Balance Sheet places the Navratna Consultancy Entity firmly on the growth path Technical Commentary • In the recent 1-2 months, the stock experienced a significant rally, suggesting strong buying interest and positive momentum. • A...
Buy Engineers India Ltd For Target Rs.175/190 - LKP Securities
Buy Engineers India Ltd For Target Rs.175/190 - LKP Securities
Source: LKP Securities
19/08/2023 1:00:36 PM
Reduce Engineers India Ltd For Target Rs. 143 - Yes Securities Ltd Our view Power Grid Corp’s (PGCIL) 1QFY24 adj. PAT came in at INR 39bn (+6% YoY, -9% QoQ), 7% below JMFe. Net revenue for the quarter remained flat YoY at INR 110bn (-11% JMFe) led by 1% / 11% YoY growth in transmission / telecom revenue and 46% de-growth in the consultancy business. PGCIL reported an EBITDA of INR 97bn (+5% YoY, -11% JMFe), supported by lower transmission charges during the quarter. The company achieved capex of INR 15bn and capitalisation of INR 16bn during 1QFY24 ...
Reduce Engineers India Ltd For Target Rs. 143 - Yes Securities Ltd
Reduce Engineers India Ltd For Target Rs. 143 - Yes Securities Ltd
Source: Yes Securities Ltd
12/08/2023 2:10:29 PM
Engineers India surges on securing order from NALCO Engineers India is currently trading at Rs. 112.50, up by 2.35 points or 2.13% from its previous closing of Rs. 110.15 on the BSE. The scrip opened at Rs. 112.00 and has touched a high and low of Rs. 114.50 and Rs. 111.80 respectively. So far 337242 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 114.50 on 07-Jun-2023 and a 52 week low of Rs. 55.95 on 20-Jun-2022. Last one week high and low of the scrip stood at...
Engineers India surges on securing order from NALCO
Engineers India surges on securing order from NALCO
Source: Accord Fintech
7/06/2023 10:31:25 AM
Add Engineers India Ltd For Target Rs.126 - Yes Securities Ordering pipeline remains positive Our view Engineers India Ltd (ENGR) reported a strong set of numbers, led by Turnkey segment which reported 16% YoY growth while Consultancy segment de-grew by 2% YoY. Gross margin contracted ~340bps YoY however, due to reversal of certain provisions EBITDA margin saw a ~540bps YoY expansion at 18.8%. Order inflows at Rs39.1bn got a boost due to a large Turnkey order win. As on 4QFY23 order book stands at ~Rs76.9bn (2.3x TTM revenue), providing revenue...
Add Engineers India Ltd For Target Rs.126 - Yes Securities
Add Engineers India Ltd For Target Rs.126 - Yes Securities
Source: Yes Securities Ltd
6/06/2023 12:53:31 PM
Buy Engineers India Ltd For Target Rs.103 - Sushil Finance We had recommended a BUY on Engineers India Ltd. to investors at Rs.67 for a price target of Rs.103 in the recent result update. With the recent run-up in the share price (64% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits         Read Complete Report & Disclaimer Click Here   Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ ...
Buy Engineers India Ltd For Target Rs.103 - Sushil Finance
Buy Engineers India Ltd For Target Rs.103 - Sushil Finance
Source: Sushil Finance Ltd
1/06/2023 4:44:07 PM
Engineers India Ltd expects more orders from Middle East - chairperson State-run Engineers India Ltd (EIL) expects to get more orders from the Middle East, where the focus is on maximising oil production, the company's chairperson said on Friday. "There is an upside to increasing production before energy transition kicks in and we want to capture that opportunity, and that opportunity is in the Middle East so therefore we are consolidating there," EIL Charperson Vartika Shukla told reporters at an earnings conference. EIL has raised its staff...
Engineers India Ltd expects more orders from Middle East - chairperson
Engineers India Ltd expects more orders from Middle East - chairperson
Source: Reuters
27/05/2023 10:01:29 AM
Add Engineers India Ltd For Target Rs.90 - Yes Securities Higher EPC share leads to muted performance Our view Engineers India Ltd (ENGR) reported a dismal set of numbers, primarily led by weak execution in the Consultancy segment (down 3% YoY) while Turnkey segment reported 50% YoY growth. Gross margin contracted ~1100bps YoY which led to EBITDA margin contraction of ~360bps YoY at 5.6%. Order inflows at Rs2.3bn grew by 309% YoY on a low base. As on 3QFY23 order book stands at ~Rs78.6bn (2.4x TTM revenue), providing revenue visibility for nex...
Add Engineers India Ltd For Target Rs.90 - Yes Securities
Add Engineers India Ltd For Target Rs.90 - Yes Securities
Source: Yes Securities Ltd
7/03/2023 12:41:19 PM
Engineers India trades higher on entering into Memorandum of Agreement with Oil India Engineers India is currently trading at Rs. 76.50, up by 0.25 points or 0.33% from its previous closing of Rs. 76.25 on the BSE. The scrip opened at Rs. 77.00 and has touched a high and low of Rs. 77.15 and Rs. 76.30 respectively. So far 61529 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 90.75 on 23-Jan-2023 and a 52 week low of Rs. 55.95 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 80...
Engineers India trades higher on entering into Memorandum of Agreement with Oil India
Engineers India trades higher on entering into Memorandum of Agreement with Oil India
Source: Accord Fintech
17/02/2023 2:00:07 PM
Government to develop `Waste to Wealth`plants As part of furthering the 'Green Growth' agenda, the Ministry of Housing and Urban Affairs partnered with Engineers India Limited (EIL) to develop Waste to Energy and bio-methanation projects in cities with a population of million plus. In the 'Green Growth' segment, 500 new 'Waste to Wealth' plants will be established under the GOBARdhan scheme for promoting the circular economy. These will include 200 compressed bio-gas plants, 75 in urban areas, 300 community ...
Government to develop `Waste to Wealth`plants
Government to develop `Waste to Wealth`plants
Source: IANS
3/02/2023 10:21:03 AM
Engineers India soars on securing order from Mundra Solar Technology Engineers India is currently trading at Rs. 83.75, up by 3.10 points or 3.84% from its previous closing of Rs. 80.65 on the BSE. The scrip opened at Rs. 79.75 and has touched a high and low of Rs. 84.40 and Rs. 79.75 respectively. So far 259154 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 86.45 on 28-Nov-2022 and a 52 week low of Rs. 55.95 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 8...
Engineers India soars on securing order from Mundra Solar Technology
Engineers India soars on securing order from Mundra Solar Technology
Source: Accord Fintech
16/12/2022 10:50:44 AM
Engineers India surges on bagging order from MRPL Engineers India is currently trading at Rs. 81.75, up by 2.50 points or 3.15% from its previous closing of Rs. 79.25 on the BSE. The scrip opened at Rs. 79.05 and has touched a high and low of Rs. 82.00 and Rs. 78.15 respectively. So far 496290 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 82.00 on 25-Nov-2022 and a 52 week low of Rs. 55.95 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 8...
Engineers India surges on bagging order from MRPL
Engineers India surges on bagging order from MRPL
Source: Accord Fintech
25/11/2022 11:43:55 AM
Buy Engineers India Ltd For Target Rs.88 - Yes Securities Ltd Mixed set of numbers; margins to pickup in 2H Our view Engineers India Ltd (ENGR) reported a muted set of numbers, primarily led by weak execution in the Consultancy segment (down 2% YoY) while Turnkey segment reported 47% YoY growth. Gross margin contracted ~1100bps YoY which led to EBITDA margin contraction of ~400bps YoY at 5.4%. Order inflows at Rs3.4bn declined 71% YoY. As on 2QFY23 order book stands at ~Rs84.3bn (2.7x TTM revenue), providing revenue visibility for next few quarter...
Buy Engineers India Ltd For Target Rs.88 - Yes Securities Ltd
Buy Engineers India Ltd For Target Rs.88 - Yes Securities Ltd
Source: Yes Securities Ltd
14/11/2022 11:56:18 AM
Government gets dividends from IRFC, NALCO, CONCOR The government on Friday received Rs 711 crore, Rs 141 crore, and Rs 100 crore from IRFC, NALCO and CONCOR, respectively, as dividend tranches. This was tweeted by Secretary in the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey. Two days back, the government had received Rs 197 crore, Rs 48 crore and Rs 10 crore, respectively, from Uranium Corporation of India Ltd, KIOCL and Shipping Corporation of India as dividend tranches. On October 14, the gover...
Government gets dividends from IRFC, NALCO, CONCOR
Government gets dividends from IRFC, NALCO, CONCOR
Source: IANS
22/10/2022 9:01:44 AM
Government gets dividend tranches from Uranium Corp, Shipping Corp, KIOCL  The Central government has received Rs 197 crore, Rs 48 crore, and Rs 10 crore from Uranium Corporation of India Ltd, KIOCL and Shipping Corporation of India (SCI), respectively, as dividend tranches. This was tweeted by Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM) on Tuesday. Earlier last week, the government had received about Rs 185 crore, Rs 29 crore, and Rs 40 crore from Power Finance Corporation (PFC), Engineers India Ltd....
Government gets dividend tranches from Uranium Corp, Shipping Corp, KIOCL
Government gets dividend tranches from Uranium Corp, Shipping Corp, KIOCL
Source: IANS
19/10/2022 9:22:43 AM
Engineers India spurts on receiving order from ONGC Engineers India is currently trading at Rs. 71.20, up by 1.70 points or 2.45% from its previous closing of Rs. 69.50 on the BSE. The scrip opened at Rs. 70.00 and has touched a high and low of Rs. 72.45 and Rs. 69.65 respectively. So far 112915 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 82.45 on 19-Oct-2021 and a 52 week low of Rs. 55.95 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 7...
Engineers India spurts on receiving order from ONGC
Engineers India spurts on receiving order from ONGC
Source: Accord Fintech
12/09/2022 12:27:59 PM
Engineers India, CSIR-CSIO ink pact for joint commercialization of Earthquake Warning System Engineers India (EIL) and CSIR-CSIO, Chandigarh, have signed an agreement for joint commercialization of Earthquake Warning System. Engineers India is engaged by CSIR-CSIO as the technology commercialization partner for next five years on June 30, 2022. Under this agreement, CSIR-CSIO and EIL will jointly commercialize the technology of ‘Earthquake Warning System’ (Technology EqWS developed by CSIR-CSIO is in operation for Delhi Metro Rail Corporation since August 2015). This a...
Engineers India, CSIR-CSIO ink pact for joint commercialization of Earthquake Warning System
Engineers India, CSIR-CSIO ink pact for joint commercialization of Earthquake Warning System
Source: Accord Fintech
1/07/2022 12:57:57 PM
Assam's Numaligarh Refinery inks with EIL for expanding research The state-owned Numaligarh Refinery Limited (NRL) in Assam on Saturday signed a Memorandum of Understanding (MoU) with Engineers India Limited (EIL) for increasing research activities, NRL officials said. NRL sources said the EIL holds a 4.37 per cent stake in it and this MoU will lead to greater synergy between these two reputed oil and gas public sector enterprises to develop and license indigenous technologies, contributing significantly to the vision of 'Atmanirbhar Bharat'. ...
Assam's Numaligarh Refinery inks with EIL for expanding research
Assam's Numaligarh Refinery inks with EIL for expanding research
Source: IANS
3/04/2022 9:31:36 AM
Engineers India zooms on inking MoU with Numaligarh Refinery Engineers India is currently trading at Rs. 65.90, up by 1.90 points or 2.97% from its previous closing of Rs. 64.00 on the BSE. The scrip opened at Rs. 64.20 and has touched a high and low of Rs. 66.95 and Rs. 64.20 respectively. So far 78412 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 89.50 on 08-Jun-2021 and a 52 week low of Rs. 58.00 on 24-Feb-2022. Last one week high and low of the scrip stood at Rs. 68...
Engineers India zooms on inking MoU with Numaligarh Refinery
Engineers India zooms on inking MoU with Numaligarh Refinery
Source: Accord Fintech
1/04/2022 11:32:21 AM
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal Operating performance misses our estimate Sustenance of order inflows key to future outlook ENGR’s 3QFY22 revenue was 25% below our estimate, with the miss led by a 25%/26% miss in the Consultancy/Turnkey segment. Operating profit stood at INR625m, 48% below our estimate. This was on account of an unfavorable revenue mix, with 47% revenue from Turnkey projects. EBITDA margin stood at 9.2% (est. 13.2%) on account of high input costs. Order inflows in 3Q/9MFY22 stood at INR564m/I...
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
7/03/2022 11:03:07 AM
Buy Engineers India Ltd Target Rs.103 - Sushil Finance OTHER HIGHLIGHTS: * For Q3FY22, within the Consultancy Segment, revenue from Domestic Consultancy was Rs. 300.51 cr and revenue from Overseas Consultancy was Rs. 60.73 cr where margins stood at 24%. * The turnover mix between Turnkey and consultancy business segment was roughly 53% consultancy and 47% turnkey each during the quarter under observation. * The company secured orders worth Rs. 1,506.2 cr in 9MFY22 out of which, Consultancy (Domestic): Rs. 1,477.5 cr, Consultancy (Oversea...
Buy Engineers India Ltd Target Rs.103 - Sushil Finance
Buy Engineers India Ltd Target Rs.103 - Sushil Finance
Source: Sushil Finance Ltd
12/02/2022 10:19:40 AM
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal Revenue misses our estimate; order inflows robust Sustenance of order inflows key to future outlook * ENGR’s 2QFY22 revenue was 12% below our estimate, with the miss led by lower than expected revenue in the Consultancy segment. Operating profit came in line with our estimate, with a favorable revenue mix (54% share of Consultancy segment revenue) leading to higher than estimated EBITDA margin at 9.3% (est. 8.2%). Lower than expected other income led to adjusted PAT 15% below our ...
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal
Buy Engineers India Ltd For Target Rs.95 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
15/12/2021 11:45:05 AM
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance Engineers India Ltd. has reported numbers for the quarter ended Sep’21. Following are the highlights of the result. OTHER HIGHLIGHTS: * Within the Consultancy Segment, revenue from Domestic Consultancy was Rs. 284.14 cr and revenue from Overseas Consultancy was Rs. 67.29 cr where margins stood at 26%. * The turnover mix between Turnkey and consultancy business segment was roughly 54% consultancy and 46% turnkey each during the quarter under observation. * The company secured...
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Source: Sushil Finance Ltd
2/12/2021 9:48:40 AM
Buy Engineers India Ltd For Target Rs.116 - ICICI Securities Stable performance Engineers India’s (EIL) Q1FY22 performance was largely in line with expectations. Order pipeline remains strong with the likely finalisation of umbrella contracts from BPCL, greenfield refinery in Nagapatinam, and petchem expansions by PSU refineries. Company invested Rs7bn for 4.3% stake in Numaligarh refinery along with Oil India Ltd. The proportion of consultancy orders in the orderbook has increased and order prospects are healthy. Taking into account the in...
Buy Engineers India Ltd For Target Rs.116 - ICICI Securities
Buy Engineers India Ltd For Target Rs.116 - ICICI Securities
Source: ICICI Securities
16/10/2021 12:08:16 PM
Emargin Positional Pick - Buy Engineers India Ltd For Target Rs. 93 - HDFC Securities TECHNICAL OBSERVATIONS * Engineers India is in a short term uptrend as it has been making higher tops and higher bottoms for the last several sessions and has taken out its previous swing high of 76.35 in the process. * On Thursday, the stock broke out of the 71-76 recent trading range on the back of above average volumes. * Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Daily momentum indicators like the 14-day RSI have...
Emargin Positional Pick - Buy Engineers India Ltd For Target Rs. 93 - HDFC Securities
Emargin Positional Pick - Buy Engineers India Ltd For Target Rs. 93 - HDFC Securities
Source: HDFC Securities Ltd
30/09/2021 12:03:12 PM
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance Engineers India Ltd. has reported numbers for the quarter ended Jun’21. Following are the highlights of the result. Other Highlights: * Within the Consultancy Segment, revenue from Domestic Consultancy was Rs. 279.56 crore and revenue from Overseas Consultancy was Rs. 86.19 crore where margins were in line with the management guidance of 30-38%. * The turnover mix between Turnkey and consultancy business segment was roughly 50% each during the quarter under observation. * Th...
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Source: Sushil Finance Ltd
14/08/2021 9:31:34 AM
Buy Engineers India Ltd For Target Rs. 116 - ICICI Securities Strong operating performance Engineers India (EIL) reported better than expected execution, especially under the LSTK segment. Led by Rs6bn of orders from IOCL Panipat, order intake was healthy, strong order pipeline provides growth visibility. Accounting for any likely principal default under employee provident fund trust, the company has provided Rs1.5bn towards the same in Q4FY21, and this has impacted the reported earnings. Company invested Rs7bn for 4.3% stake in Numaligarh refiner...
Buy Engineers India Ltd For Target Rs. 116 - ICICI Securities
Buy Engineers India Ltd For Target Rs. 116 - ICICI Securities
Source: ICICI Securities Ltd
12/06/2021 11:15:35 AM
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance OTHER HIGHLIGHTS: For Q4FY21 and FY21: * During FY21, EIL achieved a turnover of INR 3,104.7 Cr, which was down by ~3% as compared to turnover of INR 3,203.1 Cr in FY20. Segmental breakup for FY21 is as follows; Consultancy, INR 1,383 Cr (Domestic: Rs.1,039 Cr & Overseas: Rs. 344 Cr) down by ~11% on a YoY basis. Turnkey turnover is INR 1,721 Cr showing a growth of ~5%. * The operating profit for FY21 stands at INR 337 Cr, compared to INR 443 Cr of previous period. The operating ...
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Buy Engineers India Ltd For Target Rs.134 - Sushil Finance
Source: Sushil Finance Ltd
10/06/2021 10:02:45 AM
Engineers India Q4 net profit down 76.46% at Rs 30.54 cr The company reported standalone net profit of Rs 30.54 crore for the quarter ended March 31, 2021 as compared to Rs 129.72 crore in the same period last year, registering a year-on-year decline of 76.46 per cent. Net revenue of the company rose substantially by 30.79 per cent at Rs 1,116.71 crore in January-March quarter of this fiscal as against Rs 853.81 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 28.26 per cent to Rs 952.70 cro...
Engineers India Q4 net profit down 76.46% at Rs 30.54 cr
Engineers India Q4 net profit down 76.46% at Rs 30.54 cr
Source: Dion Global Solutions Ltd
9/06/2021 11:10:01 AM
Buy Engineers India Ltd For Target Rs. 134 - Sushil Finance CONFERENCE CALL HIGHLIGHTS: For Q3FY21 and 9MFY21: * During 9MFY21, EIL achieved a turnover of INR 2,138 Cr, which was down by 16% as compared to turnover of INR 2,538 Cr in 9MFY20. Segmental breakup for 9MFY21 is as follows; Consultancy, INR 978 Cr (Domestic: Rs.729 Cr & Overseas: Rs. 248 Cr) down by 15% on a YoY basis. Turnkey turnover is INR 1,009 Cr down by 15%. * The operating profit for 9MFY21 stands at INR 239 Cr, compared to INR 414 Cr of previous period. The operating pr...
Buy Engineers India Ltd For Target Rs. 134 - Sushil Finance
Buy Engineers India Ltd For Target Rs. 134 - Sushil Finance
Source: Sushil Finance Ltd
11/03/2021 9:45:02 AM
Buy Engineers India Ltd For Target Rs.134 - Sushil Financial CONFERENCE CALL HIGHLIGHTS: For Q3FY21 and 9MFY21: * During 9MFY21, EIL achieved a turnover of INR 2,138 Cr, which was down by 16% as compared to turnover of INR 2,538 Cr in 9MFY20. Segmental breakup for 9MFY21 is as follows; Consultancy, INR 978 Cr (Domestic: Rs.729 Cr & Overseas: Rs. 248 Cr) down by 15% on a YoY basis. Turnkey turnover is INR 1,009 Cr down by 15%. * The operating profit for 9MFY21 stands at INR 239 Cr, compared to INR 414 Cr of previous period. The operating pr...
Buy Engineers India Ltd For Target Rs.134 - Sushil Financial
Buy Engineers India Ltd For Target Rs.134 - Sushil Financial
Source: Sushil Finance Ltd
17/02/2021 9:48:44 AM
Buy Engineers India Ltd For Target Rs.85 - Motilal Oswal Order inflows key to further outlook Adverse revenue mix and higher provisioning affect margin * ENGR’s 3QFY21 revenue was above our estimate, with the beat entirely owing to higher revenue in the Turnkey segment. Operating profit came in 24% lower than our estimate, owing to an adverse revenue mix (57% share of Turnkey segment revenue) and lower margin owing to higher provisioning on a YoY basis. * The buyback proposal for acquisition of 69.9m shares (~11% of total shares) at INR...
Buy Engineers India Ltd For Target Rs.85 - Motilal Oswal
Buy Engineers India Ltd For Target Rs.85 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
10/02/2021 11:16:22 AM
Buy Engineers India Ltd For Target Rs.102 - Yes Securities Our View: When compared to GDP growth, the average energy multiplier for India has been at ~0.8x of GDP growth. Hence, assuming 5% CAGR demand for petroleum products, India is likely to face supply deficit situation by FY25. In addition, current refining capacity utilization stands at 100%+, which warrants significant capex, implying improving business prospects for ENGR over medium to long term. Hence, Govt. has set up a plan to nearly double its oil refining capacity in the next 5 years (re...
Buy Engineers India Ltd For Target Rs.102 - Yes Securities
Buy Engineers India Ltd For Target Rs.102 - Yes Securities
Source: Yes Securities Ltd
3/02/2021 12:01:05 PM
Buy Engineers India Ltd For Target Rs.102 - Yes Securities Our View: When compared to GDP growth, the average energy multiplier for India has been at ~0.8x of GDP growth. Hence, assuming 5% CAGR demand for petroleum products, India is likely to face supply deficit situation by FY25. In addition, current refining capacity utilization stands at 100%+, which warrants significant capex, implying improving business prospects for ENGR over medium to long term. Hence, Govt. has set up a plan to nearly double its oil refining capacity in the next 5 years (re...
Buy Engineers India Ltd For Target Rs.102 - Yes Securities
Buy Engineers India Ltd For Target Rs.102 - Yes Securities
Source: Yes Securities Ltd
2/02/2021 1:58:42 PM