Engineers India Ltd., incorporated in the year 1965, is a Mid Cap company (having a market cap of Rs 4679.30 Crore) operating in Services sector.
Getty ImagesPromoters held 51.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 4.6 per cent, DIIs 22.8 per cent and public and others 21.1 per cent.
ICICI Securities has given a buy rating to EIL with a target price of Rs 97. The share price moved down by 0.95 per cent from its previous close of Rs 73.70. The stock’s last traded price is Rs 73.
Engineers India Ltd., incorporated in the year 1965, is a Mid Cap company (having a market cap of Rs 4679.30 Crore) operating in Services sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 692.27 Crore, up 45.89 % from last quarter Sales of Rs 474.50 Crore and down -5.21 % from last year same quarter Sales of Rs 730.33 Crore Company reported net profit after tax of Rs 90.22 Crore in latest quarter.
Investment Rationale EIL has strong balance sheet with net cash of Rs29.8bn to tackle the same. The company announced buyback of 69.9mn shares at Rs84, which will aid in improvement in return ratio.
Promoter/FII Holdings Promoters held 51.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 4.6 per cent, DIIs 22.8 per cent and public and others 21.1 per cent.
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