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Engineers India reported revenue of ₹820 crore

ICICIdirect Research 14 Aug 2026 DISCLAIMER

News: Engineers India reported revenue of ₹820 crore, down 5.8% YoY, as Turnkey Projects revenue declined 32.8% YoY to ₹302 crore, partly offset by 22.9% YoY growth in Consultancy & Engineering Projects to ₹518 crore. Gross profit increased 15.7% YoY to ₹492 crore, with GPM expanding 1,113bps YoY to 60.0%. EBITDA grew 75.4% YoY to ₹126 crore, with margin expanding 714bps to 15.4%, while PAT increased 141.5% YoY to ₹158 crore.

View: Sharp improvement in profitability despite lower revenue was driven by a favourable mix shift towards the higher-margin Consultancy & Engineering business, which now contributes 63% of revenue vs 48% YoY, with EBIT margin at 24.9% vs 16.9%. Turnkey Projects remained weak, with revenue down 32.8% YoY; however, its EBIT margin improved to 7.5% from 5.6%. Sustained consultancy growth and recovery in Turnkey execution remain key drivers for topline and earnings growth.

Impact: Positive

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