Quarterly Result: Engineers India Ltd

Technical View:

Engineers India Ltd., ended at Rs. 262, up by 4.75 points or 1.85% from its earlier closing of Rs. 257.25 on the BSE.

The scrip touched a high and low of Rs. 265.5 and Rs. 254.9 respectively, after opening at 265.5. In totality 1454602(NSE+BSE) shares have been traded on the counter; and the stock is trading below its 50 DMA.

Standalone Results Q2FY17:

Engineers India’s Q2FY17 standalone numbers have come in as a mixed bag in comparison with Bloomberg estimates. Revenue for the period has come in 11.5% lesser than the estimate of Rs 383 cr.

EBITDA has come in 35.2% better than the estimate of Rs 69 cr. Net profit for the period has come in 12.6% greater than the estimated figure of Rs 83 cr.
 
The quarter's net revenue has dropped by 24.6% yoy to Rs 339 cr, triggered by dip in revenue of turnkey projects segment by 67% yoy.
 
EBITDA for the period has surged 44.4% yoy to Rs 94 cr, driven by EBITDA margin improvement of 1321 bps to 27.7%, supported by 89% yoy dip in construction material expenses.

The company's net profit for the period has surged by 21.4% yoy to Rs 94 cr owing to a 8% yoy dip in other income.