The Engineers India Ltd (EIL) on Wednesday said in the fiscal year 2023-24, it has advanced its global footprint and project portfolio.
Vartika Shukla, Chairman & Managing Director EIL (Engineers India Ltd), along with the functional directors addressed the media to share EIL’s Growth Strategy, Business Outlook and Future Roadmap.
Addressing the media, Shukla said the commissioning of the Dangote Oil Refinery Project in Nigeria, a $20 billion venture reflects the company’s pivotal role in advancing the ‘Local to Global’ vision articulated by Prime Minister Narendra Modi.
“Further, the company is providing PMC services for a 1.5 MMTPA refinery in Mongolia financed by a Line of Credit from the Indian government, a testament of EIL’s capabilities to handle complex project in harsh climatic conditions like Mongolia,” she informed.
EIL is also providing FEED and PMC services for the NHT-CCR Reforming Unit at Arzew Refinery in Algeria and is contributing to the modernization of Bahrain’s refining sector through the design package preparation for a desalination plant. In Kuwait, EIL is a consultant for the FEED and ITB preparation for revamping the existing AGRP-1 Unit at MAA Refinery, Shukla said.
“EIL continues to strengthen its presence in Guyana by providing consultancy services for the Integrated NGL Plant as well as 300 MW CCGT Power Plant and has also expanded its reach in the Middle East with several critical projects for ADNOC and other clients,” she said.
She informed that for the fiscal year under review, the organization’s turnover amounted to Rs 3,232 crore in which the Consultancy and Engineering segment contributed Rs 1,454 crore, while the Turnkey segment delivered Rs 1,778 crore.
The Profit After Tax (PAT) increased to Rs 357 crore from Rs 342 crore and the Earnings Per Share rose to Rs 6.35, up from Rs 6.09, underscoring the enhanced value that the company generates for its shareholders.
“It is worth noting that the consolidated profit for FY 2023-24 surged to Rs 445 crore, marking a 29 per cent rise from the Rs 346 crore achieved in the previous year. This growth is indicative of our strong performance and our adeptness at capitalising on opportunities,” she said.