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mittar_b's review
Investment Sector: Emerging Markets Submitted by Mittar_b 
, Project Manager
at Softprodigy
2 months ago Add Tag |
Incorporated in 1965, New Delhi based Engineers India Limited is basically engaged in providing consultancy and engineering services in the field of pipelines, petrochemicals, oil and gas processing, fertilizers, metallurgy and power sector, highways and bridges, information technology, airports, ports and terminals, non-conventional/renewable energy sources, water and urban development projects.As far as company`s business perspective is concerned ,Oil and Gas sector holds a centeral position. Along with India Company is also enjoying a global presence by having large number of sites and offices both in India and in overseas like in London, Abu Dhabi, Kuwait, Qatar, Malaysia and Australia. Its R&D Centre is located at Gurgaon on the suburbs of Delhi.Two wholly owned subsidiaries of the company are Certification Engineers International Limited and EIL Asia Pacific Sdn. Bhd (Malaysia).
EIL has been rewarded with a shield and a certificate from Abu Dhabi Company for Onshore Oil Operations (ADCO) for successfully completing 5 Million man-hours at their Tank Farm Upgrade Facilities Project, Jebel Dhanna in the year 2007 and got Amity Award for Best Engineering Consultancy Services for the year 2008.
Company is having strategic partership with companies like :
- Petronet LNG
- Harbin Power Engineering Co. Limited
- Apache Energy Limited
- VAI Industries UK Limited
- Deutsche Montan Technologies GmbH
- Calibre Projects Pty Limited
- Thiess Pty Limited
- Curtin University of Technology
- IOCL Petron Scientech, Inc.
- Stroytransgaz;
- GAIL India Limited
Recently, Indian government approved a Joint venture of Engineers India's with a unit of Italian oil and gas services company named “Maire Tecnimont” in which EIL will hold 30 percent stake in Tecnimont giving EIL a lot of trade benefits. Company is further looking for opportunities to partner other firms in order to emerge as a global engineering procurement and construction company in the coming scenario.
Company reported considerable hike in its financial results for the quarter ended March 31,2008 .During the quarter net profit of the company witnessed a surge of 33.30% to Rs 56.68 crore as against Rs 42.52 crore during the corresponding quarter last year. The company posted earnings of Rs 10.09 per share during the quarter augumented by 33.29% over previous year period. Net sales of the company shot up by 49.24% to Rs 242.82 crore for the quarter ended March 31,2008 when compared with Rs 162.70 crore for quarter ended March 31, 2007 while total income of the company for the quarter grew up by 51.82% to Rs 287.77 crore as against Rs 189.55 crore during the corresponding quarter last year.However, expenditure of the company during Jan-March,2008 quarter increases from Rs 129.06 crore to Rs 167.71 crore.
However on the consolidated basis company has posted a net profit of Rs 198.02 crore for the year ended March 31, 2008 as against Rs 145.13 crore for the year ended March 31, 2007. Net sales of the company for the financial year witnessed a surge of 29.3% to Rs 753.60 crore for the financial year 2007-08 as against Rs 582.81 crore recorded during the previous fiscal. After the announcement of these substantial figures by the company its board of directors recommended 70% as final dividend on the paid up share capital for the financial year 2007-08.
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