Shares of Engineers India Ltd. rallied 8%, reaching a day’s high of Rs 228 on 12th September, after the company announced securing new business worth Rs 4,681 crore for the current fiscal year (FY25) as of 31st August 2024.

During the 59th annual general meeting, CMD Vartika Shukla revealed that the order book stood at Rs 7,823 crore as of 31st March 2024, with the domestic segment contributing Rs 2,907 crore in FY24. The total order inflow for FY24 was Rs 3,406 crore.

Most orders still come from the core oil and gas sector, but there has been growth in infrastructure and green energy segments in recent years. Engineers India is also expanding into biofuels, with ongoing work on the Assam Biorefinery project.

Internationally, the company secured FEED assignments for the AGRP revamp at the MAA refinery in Kuwait and an engineering design package for installing desalters at the BAPCO refinery in Bahrain.

The company’s order book has grown to approximately Rs 11,350 crore.

So far this year, the stock has surged over 27%, outperforming the Nifty 50’s 15% gain. The company’s market capitalisation rose to Rs 12,753 crore.

At 3:30 PM, the shares of Engineers India closed 8.03% higher at Rs 227.19 on NSE.

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