Leading engineering, procurement and consulting (EPC) company Engineers India Limited (EIL) has secured new orders worth Rs 4,681 crore in the first 5 months of financial year (FY) 2025, a 37% rise compared to the value of orders it got in the full period of FY24, the company said on Wednesday.
The company had got orders worth Rs 3,406 crore in FY24.
As on August 31, the total order book has touched around Rs 11,350 crore, EIL’s chairman and managing director Vertika Shukla said after the company’s annual general meeting.
New projects in the area of speciality and niche chemicals, and gas storage, is behind the latest increase in orders, she said.
“We have order inflows in speciality chemicals of Rs. 350 crores in the current financial year, as compared to less than a hundred crores in FY23,” Shukla said.
The company’s burgeoning infrastructure portfolio, beyond the traditional oil and gas, has also grown significantly, she said.
“We have a sizable allocation of budget in the infrastructure sector. In FY23, our infrastructure business inflow was about 5 per cent. But in FY24, our order inflow from infrastructure was 25 per cent. In this year (FY25), it has maintained at 25 per cent,” Shukla said.
The company is also doing geological studies in its search for salt caverns in Rajasthan, where crude oil can be stored. It is also in talks with the Petroleum Ministry to set up two limited capacity compressed biogas plants.
Making moves in Gulf and Guyana
In a key move, the company is providing PMC services for the first ever power plant in Guyana. While the South American company has discovered large volumes of offshore oil and gas in recent years, it remains without a single power plant so far and depends entirely on diesel-powered generators, Shukla said. EIL is consulting on the first natural gas-powered power plant, a 300 MW unit set to come up in the country.
In Mongolia, the company is providing project management consultancy (PMC) services for a 1.5 million metric tonnes per annum (MMTPA) refinery, financed by a line of credit from the government.
“The mechanical completion of the project is expected at FY26- end,” Shukla said.
Shukla stressed on the company’s reentry in several key industry verticals across nations in the Gulf region. EIL has strengthened its Abu Dhabi office, resulting in an increase in business inflow to Rs 146 crore in FY24, up 57 per cent from Rs 93 crore in FY23.
Till August 31, the order inflow from Abu Dhabi office has touched Rs 141 Cr and the company is anticipating a lot of assignments from the Abu Dhabi National Oil Company, Shukla said.
In Kuwait, EIL is a consultant for the revamping of an existing unit at the Mina Al Ahmadi refinery, while in neighbouring Bahrain, it is doing the design package preparation for a desalination plant.
EIL’s consolidated profit for FY24 had surged to Rs 445 crore, marking a 29 per cent rise from the Rs 346 crore achieved in the previous year. As compared to this, net profits had touched a high of Rs 430 crore in pre-pandemic FY20.
First Published: Sep 11 2024 | 9:04 PM IS