Engineers India (ENGR IN) – Management Meet Update – Order momentum remains intact with healthy prospects – BUY
Published on 17 Jun 2026
We believe EIL’s long-term growth prospects remain intact given 1) strong order book prospects in non-oil & gas and oil & gas projects 2) Strong traction in overseas consultancy business from Middle East & Africa region 3) opportunities in energy transition & infrastructure, and 4) lean balance sheet. The stock is currently trading at a PE of 19.6x/16.1x on FY27/28E. We maintain our ‘Buy’ rating valuing the Consultancy/Turnkey segments at a PE of 22x/10x Mar’28E (same as earlier) arriving at a SoTP-derived TP of Rs271 (same as earlier).
