Engineers India Q2 FY23 Result Update:
- Management expects margin to normalise over the coming quarters with pick up in consultancy revenue, led by pick up in order inflow.
- EIL will be a beneficiary of sun-rising opportunities like coal gasification and green hydrogen backed by a strong order pipeline stemming from the expected investments in the hydrocarbon industry.
- For FY23, management has guided for 15% revenue growth with 45% coming from consultancy. Standalone PAT target is Rs. 350 crores. Order intake of 40000 crores is expected in FY23.
- Order intake for Q2 was 340 crores and total for H1 FY23 is 800 crores. Its targeting an order intake of 50000 crores each in FY24 & FY25.
- Company is targeting to increase its exposure in the Middle East and Saudi Arabia.
- Company is working on multiple new opportunities in green energy: i) Green hydrogen, where it is operating two projects that are in advanced stages; ii) coal to methanol; iii) emission control technology for steel majors; iv) emission control technologies to help oil & gas companies achieve their net zero targets
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