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Indian state-owned engineering consultancy and EPC contractor for oil refineries, petrochemical and gas projects.
Indian state-owned engineering consultancy and EPC contractor for oil refineries, petrochemical and gas projects.
Earns fees for engineering design and project management, which carry little risk, plus fixed-price turnkey contracts where it takes construction risk. Work comes mainly from state-owned oil and gas companies, and the Government of India holds a majority stake.
Moat: narrow (process know-how, customer qualification). Deep refinery design expertise built serving India's state oil companies over decades.
Headquarters: New Delhi, India · Founded: 1965 · Employees: 2,764
Size Engineers India (ENGINERSIN.NS) is an India Industrials company (Engineering & Construction) with a market value of $1.74B, the 407th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹292.70 on 6 Nov 2026.
Performance Over six months the shares gained 12.0%, against -9.5% for the median peer and 0.0% for the India market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median -2.0%); the operating margin is 20.2% (peer median 6.1%).
Valuation It trades at 25.2× forward earnings against a peer median of 15.0× (4th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +25 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 26.8 points above its cost of capital (19.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹37.8B | ₹39.3B | ₹30.9B | ₹32.8B | ₹33.3B |
| Revenue growth | — | +27% | -6% | -1% | — |
| Gross profit | ₹11.7B | ₹10.0B | ₹6.94B | ₹5.49B | ₹4.93B |
| EBITDA | ₹8.03B | ₹7.03B | ₹5.23B | ₹3.11B | ₹3.22B |
| Net income | ₹8.97B | ₹6.92B | ₹5.80B | ₹4.45B | ₹3.46B |
| Free cash flow | n/a | ₹3.94B | ₹1.69B | ₹3.55B | -₹287M |
| Capital expenditure | n/a | ₹690M | ₹419M | ₹340M | ₹347M |
| Total debt | ₹156M | ₹168M | ₹221M | ₹330M | ₹189M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Engineers India ENGINERSIN.NS | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% |
| Larsen & Toubro LT.NS | $59.8B | +2% | +11% | 8% | 27.6× | 29.7% |
| Technip Energies TE.PA | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% |
| Worley WOR.AX | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENGINERSIN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | -0.7% | 7th lowest of 21 |
| 6-month return | +12.0% | -9.5% | 7th highest of 21 |
| Distance from 52-week high | -8.9% | -26.9% | 4th highest of 21 |
| Revenue growth (TTM) | +6.0% | -2.0% | 9th highest of 21 |
| Operating margin | 20.2% | 6.1% | 4th highest of 21 |
| Forward P/E | 25.2× | 15.0× | 4th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 29.6% | 1.4% | most demanding of 15 |
| Growth delivered (Del g) | +4.6% | +4.8% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | +25.1 pp | -10.4 pp | most demanding of 15 |
| ROIC minus cost of capital | +26.8 pp | +1.0 pp | 2nd highest of 20 |
| EV / EBITDA | 17.9× | 12.2× | 3rd most expensive of 12 |
| Net debt / EBITDA | -2.6× | 0.3× | least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Engineers India ENGINERSIN.NS | India | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% | +4.6% |
| Suzhou Gold Mantis Construction and Decoration 002081.SZ | China | $1.74B | -25% | -8% | 3% | 29.6× | 12.2% | -11.1% |
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |
| Tasmea TEA.AX | Australia | $1.73B | +49% | +136% | 8% | 18.9× | 4.6% | +59.3% |
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| China Aluminum International Engineering 2068.HK | Hong Kong | $1.71B | -39% | -6% | 4% | 13.3× | 11.9% | -0.6% |
| NCC NCC-A.ST | Sweden | $1.69B | -3% | -17% | 3% | 22.2× | -1.6% | +0.7% |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| Envision Greenwise 1783.HK | Hong Kong | $1.68B | +38% | +183% | 3% | n/a | n/a | n/a |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |
| Mega Union Technology 6944.TW | Taiwan | $1.82B | -17% | +60% | 21% | 14.1× | -4.0% | +30.2% |
| Japan Elevator Service 6544.T | Japan | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% | +18.6% |
| Shandong Hi-speed Road&bridge 000498.SZ | China | $1.65B | +20% | -9% | 7% | 4.9× | n/a | n/a |
| Beijing Enterprises Water 0371.HK | Hong Kong | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% | -1.2% |
| Jinko Power Technology 601778.SS | China | $1.86B | -49% | -25% | 16% | n/a | n/a | n/a |
| Implenia IMPN.SW | Switzerland | $1.61B | +12% | -8% | 2% | 15.0× | 6.0% | -2.7% |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% | +5.4% |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 40.3× | n/a | n/a |