Engineers India Limited (EIL) delivered a standout performance in the March quarter of FY25, with net profit soaring 167% year-on-year (YoY) to ₹24,323 lakh, compared to ₹9,094 lakh in Q4 FY24. On a sequential basis, profits more than doubled from ₹8,810 lakh in Q3, powered by a surge in high-margin consultancy revenue and strong operational efficiencies.
Revenue from operations climbed 25.4% YoY to ₹99,113 lakh and jumped 32.1% quarter-on-quarter. The Consultancy and Engineering Projects segment led the growth, contributing ₹54,247 lakh – a 39.6% YoY and 33.3% QoQ increase.
Operating leverage played a significant role, with total expenses rising only 5.8% QoQ to ₹70,810 lakh. As a result, EBITDA margin for the quarter expanded to an estimated 33.9%, from 17.3% in Q3 and 19.7% in Q4 FY24. Profit before tax nearly tripled sequentially to ₹32,498 lakh.
FY25: Profitability Up Amid Revenue Dip
For the full financial year 2024–25, EIL reported a 30.3% rise in standalone net profit to ₹46,524 lakh, despite a 6.3% YoY decline in revenue from operations to ₹3,02,835 lakh. The dip was primarily due to a 24.1% fall in revenue from turnkey projects, which dropped to ₹1,34,959 lakh.
However, this was partially offset by a 15.4% YoY rise in consultancy revenue, which reached ₹1,67,876 lakh. The company’s profit before tax rose 31.2% YoY to ₹61,673 lakh, while EBITDA for the full year stood at an estimated ₹65,867 lakh, up 30.4% from FY24.
Consolidated Performance: Profit Strengthens Despite Lower Income
On a consolidated basis, EIL maintained its profitability despite headwinds. The group posted a consolidated profit after tax of ₹47,118 lakh, up from ₹36,582 lakh in FY24 — a 29% increase. Consolidated income declined to ₹3,25,920 lakh from ₹3,49,819 lakh, mainly due to weaker turnkey revenues.
Nonetheless, higher margins in consultancy operations and tight cost controls helped boost group profitability. EIL continues to maintain a debt-free balance sheet and robust liquidity, with cash and bank balances exceeding ₹1,24,000 lakh.
Segment-Wise Highlights: Consultancy Margin Expansion
The consultancy segment emerged as the clear growth driver. In Q4 alone, it contributed ₹27,854 lakh in profit – up sharply from ₹10,480 lakh in Q3 and ₹8,922 lakh a year ago. For FY25, segment profit surged 56.6% YoY to ₹50,963 lakh.
Turnkey project profitability remained flat despite revenue pressure, clocking ₹10,539 lakh in FY25, up marginally from ₹10,242 lakh in FY24 – highlighting improved cost efficiency in execution.
Market Reaction and Dividend Declaration
Reflecting strong investor sentiment, EIL shares opened at ₹212.25 and closed at ₹220.82 on the BSE after the results, posting a 4% gain. The Board recommended a final dividend of ₹1 per share, adding to the ₹2 interim dividend, taking the total FY25 payout to ₹3 per share.
The company’s total equity rose to ₹2,62,004 lakh as of March 31, 2025, compared to ₹2,31,128 lakh in FY24, underlining strong capital position and healthy shareholder returns.
Outlook
With consultancy revenue momentum, high-margin operations, and disciplined financial management, EIL is well-positioned to sustain its profitability in FY26, even amid subdued turnkey execution. Its debt-free status and strong cash reserves provide flexibility for future growth and investment opportunities.
About Engineers India Limited
Engineers India Ltd, a premier public sector enterprise under the Ministry of Petroleum & Natural Gas, was established in 1965 to provide indigenous technology and engineering consultancy services, primarily for hydrocarbon projects. Over time, EIL has expanded into sectors such as non-ferrous metallurgy, infrastructure, water and wastewater management, and fertilizers, playing a significant role in India’s industrial development.