Engineers India Q1 Review - Turnkey Execution Picks Up: Prabhudas Lilladher
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Prabhudas Lilladher Report
Engineers India Ltd. reported strong performance in Q1, led by execution ramp up in turnkey segment.
Ebitda margin came in at 14.2% led by higher execution and better absorption of fixed overheads.
Order inflows came in at Rs 2.8 billion, mainly driven by orders from hydrocarbon sector.
Engineers India's order book stands strong at Rs 75.3 billion, with consultancy constituting 60% and turnkey segment comprises 40% off the total order book.
With most oil companies reviving their capex plan, we expect ordering momentum will continue to remain strong, going forward.
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