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Prabhudas Lilladher: Engineers India Q2 Review - Ordering Activity Improving Gradually

Engineers India had a healthy September quarter, as better-than-expected revenue and cost-cutting measures resulted in profit beat

A person assembles components onto an engine in Maharashtra, India. (Photographer: Udit Kulshrestha/Bloomberg)
A person assembles components onto an engine in Maharashtra, India. (Photographer: Udit Kulshrestha/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Engineers India Ltd. reported healthy performance, wherein better than expected revenue and cost rationalization measures led to a beat in profitability.

Margins in turnkey projects were weak at 2% versus 7.7% in Q2 FY20 thereby lowering overall margins.

Order inflows grew by 256% YoY to Rs 5.9 billion (lower base of OI in Q2 FY20) led by improvement in ordering activity.

Order inflow mainly came from domestic consultancy segment (approximately 86%) and order book declined 17% YoY to Rs 90 billion.

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Prabhudas Lilladher Engineers India Q2FY21 Result Update.pdf

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