Engineers India (ENGINERSIN) Q2 24/25 earnings summary

Executive summary

• Order inflow for H1 FY25 reached INR 5,137 crores, with an additional INR 1,729 crores in October, bringing YTD order inflow to INR 6,866 crores and order book to nearly INR 12,000 crores as of October 2024.

• Q2 FY25 revenue was INR 676 crores, up from INR 611 crores in Q1; profit before tax rose 36% sequentially to INR 100 crores, and net profit increased 44% to INR 79 crores.

• Q2 FY24-25 total income was ₹7,294 million, down from ₹8,239 million in Q2 FY23-24, reflecting a year-over-year decline.

• PAT for Q2 FY24-25 stood at ₹791 million, compared to ₹1,022 million in Q2 FY23-24.

• Un-audited standalone and consolidated financial results for the quarter and half year ended 30th September 2024 were approved by the Board on 29th October 2024.

Financial highlights

• Consultancy and engineering segment revenue for Q2 FY25 was INR 383 crores; LSTK segment revenue was INR 293 crores.

• Standalone revenue from operations for Q2 FY25 was ₹67,643.30 lakhs, up from ₹61,062.37 lakhs in Q2 FY24; consolidated revenue was ₹68,894.26 lakhs.

• Standalone net profit for Q2 FY25 was ₹7,912.14 lakhs, compared to ₹5,477.85 lakhs in Q2 FY24; consolidated net profit was ₹9,963.20 lakhs.

• EPS for Q2 FY25 was INR 1.41.

• H1 FY25 profit share from RFCL was INR 54.5 crores.

Outlook and guidance

• Management targets FY25 revenue of INR 3,500 crores and expects to meet this guidance.

• Annual turnover target of INR 5,000 crores within the next two years.

• Order book as of September 2024 reached ₹111,553 million, up from ₹81,883 million in September 2023.

• Margins in turnkey projects do not accrue uniformly during the year; full-year figures provide a clearer performance view.

• Margins expected to remain in line with previous years, with potential for improvement due to execution efficiency and new norms.