# Engineers India share price today (Engineers India Ltd, NSE: ENGINERSIN)

> Engineers India share price today: ₹300.85 at the NSE close on 4 November 2026, up 53.2% in a year. Engineers India (NSE: ENGINERSIN) is worth ₹16,899 crore, trades at a P/E of 18.9 and has closed between ₹167.15 and ₹315.65 over the past 52 weeks. > Engineers India Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 33% of past readings. ENGINERSIN · Infra - Engineering - General · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/engineers-india-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹300.85 (+53.2% in a year)
- P/E: 18.9× (lower than 67% of the last 11 years)
- Revenue (Sep 2026): ₹824 Cr (−10.5% on a year ago)
- Profit (Sep 2026): ₹197 Cr (+137.3% on a year ago)
- Operating margin: 21.0% (+11.0 points on a year ago)
- ROCE: 30%, FY26
- ROIC: 44.0%, against a 12.0% cost of capital: +32.0 points

The main question: profits are rising, but only 38% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Engineers India share price today? Engineers India Ltd's share price was ₹300.85 at the close on 4 November 2026. It has been rising for 29 weeks. That is 23.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹167 and ₹316, and at that close it sat 90% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 14 weeks in a row. Over the last 11 years the share price moved +307% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Engineers India this quarter? One change stood out: operating margin up 11 points on a year earlier. 1. Operating margin up 11 points on a year earlier 21% in the September 2026 quarter, from 10%. Why: The margin rose because the company did more consultancy work, which earns much more than building plants, and less of the lower-profit building work. Next results: check whether the plant-building side earns better profit as work on newer jobs moves ahead. From the earnings call on 30 Oct 2026. ## What dividend does Engineers India pay? Engineers India paid ₹6.50 a share in regular dividends in the 12 months to 5 November 2026 (4 payments), a yield of 2.16% at the ₹300.85 close on 4 November 2026. The last was an interim dividend of ₹1.50 a share, ex-date 5 November 2026. ### Engineers India dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 5 Nov 2026 | ₹1.50 | Interim | same day |
| 24 Sep 2026 | ₹2.50 | Dividend | same day |
| 6 Mar 2026 | ₹1.50 | Interim | same day |
| 4 Dec 2025 | ₹1 | Interim | same day |
| 29 Aug 2025 | ₹2 | Dividend | same day |
| 14 Feb 2025 | ₹2 | Interim | same day |
| 21 Aug 2024 | ₹1 | Dividend | same day |
| 12 Feb 2024 | ₹2 | Interim | same day |
| 25 Aug 2023 | ₹1 | Dividend | same day |
| 13 Feb 2023 | ₹2 | Interim | same day |
| 2 Sep 2022 | ₹1 | Dividend | 5 Sep 2022 |
| 16 Feb 2022 | ₹2 | Interim | 17 Feb 2022 |
| 6 Sep 2021 | ₹0.60 | Dividend | 7 Sep 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Engineers India Ltd paid out 41% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What are Engineers India's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Engineers India reported revenue of ₹824 crore, down 10.5% from ₹921 crore a year earlier, and a profit of ₹197 crore, up 137.3% from ₹83.0 crore. ### Engineers India results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹824 crore | ₹921 crore | −10.5% |
| Profit | ₹197 crore | ₹83.0 crore | +137.3% |
| Earnings per share | ₹3.50 | ₹1.49 | +134.9% |
| Operating margin | 21.0% | 10.0% | +11.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Engineers India's management discussed these results on a call held on 30 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Engineers India share price history? Engineers India closed at ₹300.85 on 4 November 2026, up 53.2% from ₹196.44 a year earlier (7 November 2025) and up 314.4% over five years. Its highest weekly close since February 2016 was ₹315.65 on 25 September 2026. ### Engineers India share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹251.85 | +19.5% |
| 1 month ago · 1 Oct 2026 | ₹312.75 | −3.8% |
| 6 months ago · 8 May 2026 | ₹256.45 | +17.3% |
| 1 year ago · 7 Nov 2025 | ₹196.44 | +53.2% |
| 3 years ago · 3 Nov 2023 | ₹129.25 | +132.8% |
| 5 years ago · 4 Nov 2021 | ₹72.60 | +314.4% |
| 10 years ago · 4 Nov 2016 | ₹122.83 | +144.9% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹73.95 | +306.8% |
| Highest weekly close since February 2016, also the 52-week high · 25 Sep 2026 | ₹315.65 | −4.7% |
| Lowest weekly close since February 2016 · 20 Mar 2020 | ₹57.10 | +426.9% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹167.15 | +80.0% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (566 weekly closes from 26 February 2016 to 4 November 2026.)

## What is the latest news on Engineers India? 5 Nov 2026: ex-date for an interim dividend of ₹1.50 a share. 4 Nov 2026: Engineers India closed at ₹300.85, up 19.5% on the week and down 3.8% on the month. ### Earlier

- 30 Oct 2026: Engineers India held its results call for July to September 2026. Management guided: FY27 turnover around ₹4,200-4,300 crore maintained on current book. - Results for July to September 2026: Revenue down 10.5% and profit up 137.3% on a year earlier. - 24 Sep 2026: ex-date for a dividend of ₹2.50 a share. - 6 Mar 2026: ex-date for an interim dividend of ₹1.50 a share. - 4 Dec 2025: ex-date for an interim dividend of ₹1 a share. ## What did Engineers India management say on the latest results call? On the call for July to September 2026, held on 30 October 2026, Engineers India's management guided: FY27 turnover around ₹4,200-4,300 crore maintained on current book. > “In Saudi, we are still waiting because the situation is not good there. The attacks are still ongoing.”
> Kishan Gopal, on the call for July to September 2026

### What management guided

- Revenue growth around 10% next year on expanded book. - FY27 order inflow to cross ₹8,000 crore with ₹8,100 crore secured to date. - FY28 order inflow at least ₹8,100 crore on bidding pipeline. - Consultancy mix around 60-65% in FY27 with LSTK share rising toward around 40% in second half. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4259-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What is the future of Engineers India? What is changing in the business? What is changing at Engineers India, from the latest results and calls: consultancy execution and mix, new turnkey projects enter execution and selective cost-plus contracting. - Consultancy execution and mix. Growing consultancy turnover offsets part of the profit pressure from tapering turnkey projects. ⚠ estimate
- New turnkey projects enter execution. New awards can replace revenue lost as older major projects finish. ⚠ estimate
- Selective cost-plus contracting. Open-book structures can reduce input-cost exposure on eligible contracts. ⚠ estimate
- Continuity of associate operations. Recovered associate contribution supports consolidated profit if plant operations continue. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is Engineers India's order book? Monitoring thresholds are consultancy quarterly turnover ₹500 crore, cumulative order inflow ₹5,000 crore, annual consolidated operating margin 15%, annual combined associate contribution ₹100 crore and operating cash flow/profit 0.5. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Engineers India story? What are the risks? If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. ### Each change stops working if

- Consultancy execution and mix: Consultancy turnover stops growing or competitive fees prevent the guided segment economics from being realized. - Selective cost-plus contracting: Competitive awards require fixed-price exposure or contract terms leave material execution losses with EIL. - Continuity of associate operations: Technical outages recur and associate contribution returns to losses. ### The main risks

- Accounting-assisted earnings and margin normalization: Reported profit includes benefits that cannot establish the recurring operating run rate. ⚠ estimate
- Collections and working-capital absorption: Cash conversion remains weak despite improved latest-year collections. ⚠ estimate
- Client approval and refinery timing: Paradip approvals and BPCL tender timing can delay revenue replacement. ✓ fact
- Non-operating income recurrence is unverified: The composition of income outside operating profit remains unresolved. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Engineers India's next results? When Engineers India reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Second-half turnkey share and segment profitability rebound on cost-progress conversion - check next print for flagged recovery. - What to check (from the call)
- Second-half turnkey share and segment profitability rebound on cost-progress conversion - check next print for flagged recovery. - Consultancy profitability having above flagged floor without one-offs - verify next quarter print sustains mix benefit. - Change-order negotiations settling within fiscal as indicated - confirm disclosure of settled scope or timeline update. ## Which stock lists is Engineers India on? Engineers India is on 3 of our India lists: Multibagger study list, Dividend stocks and Small & mid cap stocks. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Dividend stocks Regular dividend yield (%): 2.16](https://www.sectoralpha.in/dividend-stocks-india)
- [Small & mid cap stocks Size rank in India: 454](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Engineers India profitable? Engineers India Ltd earned ₹197 Cr of net profit in the Sep 2026 quarter, +137.3% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹692 Cr. Over 10 years profit has grown 9.5% a year on average. That is 23.9% of the quarter's revenue. The same quarter a year earlier earned ₹83.0 Cr. For the full year, FY26 profit was ₹692 Cr (+19.3% on the year before). Why profit moved: revenue changed −10.5% on a year earlier and the margin moved +11.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +117.2% and revenue +8.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹820 Cr and profit ₹158 Cr as reported. FY27-Q2. revenue ₹824 Cr and profit ₹197 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much revenue does Engineers India make, and is it growing? Engineers India Ltd reported ₹824 Cr of revenue in the Sep 2026 quarter, −10.5% on the same quarter a year earlier. Over 10 years it has grown 9.8% a year on average. The last full year, FY26, came in at ₹3,928 Cr. The last four reported quarters add to ₹3,780 Cr. Why this happened. This is a timing mechanism: recently awarded turnkey work remains early in execution, while older work is tapering. Management expects the later planned execution phase to lift turnover. Revenue contribution still depends on customer schedules and site progress. Dangote execution and the aggregate turnkey ramp overlap and are treated as one revenue driver rather than separate profit additions. FY26 revenue was ₹3,928 Cr, +27.2% on the year before. Recent pace: the last four quarters grew +8.4% on average, against 9.8% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.0%, against +12.5% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +67.2%, against +55.6% a year (accelerating). FY27-Q1. revenue ₹820 Cr and profit ₹158 Cr as reported. FY27-Q2. revenue ₹824 Cr and profit ₹197 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Engineers India keep? Engineers India Ltd's operating margin was 21.0% in the Sep 2026 quarter, 11.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 9.0% and 27.0%. The latest quarter is within that range. Why this happened. Management describes a cost-plus approach in which the client bears inflation and EIL retains its management fee. This changes risk allocation rather than creating an additional volume driver. The latest call continues to describe selective bidding. Contract coverage, fee pressure and residual schedule liability are not quantified, so the model does not assume that liquidated-damages risk disappears. Why the margin moved: operating margin changed +10.7 percentage points on the year while gross margin changed +7.5 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY27-Q1. revenue ₹820 Cr and profit ₹158 Cr as reported. FY27-Q2. revenue ₹824 Cr and profit ₹197 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## Is Engineers India's profit turning into cash? Over the last 3 years, 38% of Engineers India Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹319 Cr of operating cash against ₹692 Cr of profit. After ₹70.0 Cr of spending on assets, ₹249 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 38% of profit came in as cash: the cash cycle got 17 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 1.5× depreciation over three years. The next section checks what that spending is building. ## Where does Engineers India's cash go? Engineers India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 45 days in FY26, down from 62 days in FY21. It spent ₹181 Cr on assets over the last 3 years. Customers take 45 days to pay, and stock sits for 0 days on average. Why this happened. Recovered associate contribution supports consolidated profit if plant operations continue. At FY26 sales of ₹3,928 Cr, each day of that cycle ties up about ₹10.8 Cr, so roughly ₹484 Cr is tied up in the business at any time. FY26: customers took 45 days to pay and stock sat for 0 days, about 0.0 months of sales sitting as stock, for a full cycle of 45 days, shorter than FY21's 62. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 0 days. Customers pay about 45 days after that. Suppliers are paid at 502 days. Together that makes the 45-day cycle. Spending on assets: ₹181 Cr over the last 3 years, against ₹117 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹31.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Engineers India's P/E ratio, and how does it compare with its own history? Engineers India Ltd's P/E is 18.9×, near the low end of its own history: it has been lower only 33% of the time. Its usual P/E (the middle reading) is 20.6×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +19.2% while the price moved +53.2%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +32.9% a year; about +38.3% a year came from earnings growth and about −5.4 percentage points from the multiple (the market paying less); over 10 years the price moved +9.4% a year; about +14.5% a year came from earnings growth and about −5.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Engineers India share price assume? Worked out from its price on 11 October 2026, Engineers India Ltd's share price assumed profit growth of about 11.5% a year. Over the past 10 years its profit actually grew 9.5% a year. Today its P/E is 18.9×, lower than 67% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Engineers India business getting better or worse? Engineers India Ltd's business is getting better. Profit growth hit its low 7 quarters ago at −19.7% and has recovered to +67.2%, with ROCE rising at 27.5%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## What is the Engineers India story, and has it been checked? Engineers India Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: MID EXPANSION. Still open: If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. Our read, 10 October 2026. From the numbers. From the price. Price stage 2, week 29, above its 200-day line, relative strength falling. From the research. Where they disagree. The lower trailing reading partly reflects earnings above the normalized base. Its opportunity classification does not override the normalized assessment. What is proven. What is not proven yet. If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. What would change our mind. If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. The test written in advance. If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. Measured by: the thesis as written as stated by the next result. The test written in advance. Accounting-assisted earnings and margin normalization. Measured by: Accounting-assisted earnings and margin normalization by the next result. The test written in advance. Collections and working-capital absorption. Measured by: Collections and working-capital absorption Operating cash fails to improve with billed revenue, or debtor days rise while execution slows. by the next result. What the surface reading misses. The surface reading is: Profit rose despite a decline in revenue. The research reads it further: Operating profit increased from Rs 72 crore while consultancy grew and turnkey tapered. Combined associate recovery also contributed; the income screen adds a separate quality caution. What the surface reading misses. The surface reading is: Quarterly profit and revenue declined. The research reads it further: Operating profit fell from Rs 301 crore in the comparison quarter. Non-operating income partly cushions reported profit, so the PAT decline alone understates the operating-profit decline. Lever 2 · Value-added mix: building. Growing consultancy turnover offsets part of the profit pressure from tapering turnkey projects. What proves it keeps working: Consultancy execution and mix. It stops working if Consultancy turnover stops growing or competitive fees prevent the guided segment economics from being realized. Sources: our stock research file (10 October 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Engineers India management deliver what it promised? What Engineers India Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. RFCL Profit Run Rate Below Prior Sustainable Expectation · 30 October 2026. In Aug 2026, management characterized the roughly Rs.42 crore RFCL quarterly profit as a level it expected to earn regularly. In Oct 2026, Q2 RFCL profit was Rs.20 crore, a roughly 52% sequential decline, and management gave no explanation for the gap or reaffirmed the prior run rate. Aramco Agreement Status Reversed · 14 August 2026. In May 2026, management said the Saudi Aramco in-kingdom agreement had been signed and a second agreement was about to be signed. In Aug 2026, management described the Aramco relationship as still being in its initial stages; the reference to project slowdown may explain weak activity, but it does not reconcile the changed agreement status. IOCL Paradip Phase 2 Milestone Slipped · 14 August 2026. The May 2026 call expected the Phase 2 award toward the end of the then-current fiscal year. In Aug 2026, Phase 1 was complete but Phase 2 was still awaiting management approval, with land issues cited and no revised award date provided, indicating that the prior milestone was missed. BPCL Andhra Execution Timeline Pushed Out · 14 August 2026. In May 2026, management anticipated starting Phase 2 implementation and project activities during that financial year. In Aug 2026, the execution tender was pushed toward the end of the current financial year, with the project potentially moving into the first quarter of the next financial year, effectively shifting the milestone by approximately one financial year without a clear explanation. Every quote above is taken word for word from the company’s own earnings calls. ## What is Engineers India management's track record? Annual growth beat its earlier floor, but the later absolute revenue floor was modestly missed on both separately stated reporting bases. Paradip approvals slipped; the later goal was not yet due. Associate recovery is reported, while continuity and future turnkey ramp remain tests. Historical PFS losses were provisioned in the prior stress period; Full prior-downturn conduct remains incompletely covered. ### Regulatory and governance record

Small board-composition exchange fine surfaced, with subsequent independent-director appointments. No fraud, proven lie, open case of real size against the company or qualifying adverse conduct order is established. Sources:

- [engineersindia.com](https://engineersindia.com/admin/img/UploadedFiles/Reports/2023-2024/Transcripts/f46ca143fde8443cb88537bbdc0c5721.pdf)
- [news.tulsian.ai](https://news.tulsian.ai/news/regulation-legal/engineers-india-fined-10-62-lakh-for-board-non-compliance.html)
- [engineersindia.com](https://engineersindia.com/admin/img/UploadedFiles/WhatsNew/Files/English/3f2316bb5c26443186fa7b1e4226c5f2.pdf)

(Checked 14 October 2026.)

## How much does Engineers India earn on its capital? Engineers India Ltd earned a ROCE of 30% in FY26. That is up from a low of 16% in FY15. Its return on capital used (ROIC) is 32.0 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 17.6% net margin and 0.67× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 17.6% net margin × 0.67× asset turnover × 1.87× leverage (assets divided by equity) ≈ 22.1% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 44.0% − 12.0% = +32.0 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 44.0% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 34.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Engineers India have too much debt? Engineers India Ltd has total debt of ₹17.0 Cr against shareholder equity of ₹3,146 Cr as of Jun 2026, so its debt is 0.01× its equity, which is very little. Year by year, that ratio went from 0.00 in FY22 to 0.01 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Engineers India shareholding pattern? Domestic institutions raised their stake in Engineers India Ltd by 5.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 16.6% of the company. Foreign institutions moved +0.8 points over the same period, to 8.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +5.6 points over 8 quarters, to 16.6%; Foreign institutions: +0.8 points over 8 quarters, to 8.1%; Promoters: +0.0 points over 8 quarters, to 51.3%. Why the owners changed: domestic institutions drove it (+5.6 points), together with foreign institutions (+0.8 points). They raised their stake step by step. ## How far is Engineers India from balance-sheet trouble? For Engineers India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Engineers India rank in its industry? 85.5 out of 100, rank 1 of 8 in Infra - Engineering - General, with 100% of the evidence available. Engineers India Ltd scores 85.5 out of 100 against the 8 companies it is compared with in Infra - Engineering - General, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 27.6 + 21.4 + 16.5 + 20 = 85.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Engineers India compared with? Engineers India ranks 1 of 8 Infra - Engineering - General companies on the 4-Factor Sector Score, with 85.5 out of 100. 1. Engineers India Ltd this page ENGINERSIN · breaking out · Sector-leading setup · 100% evidence 85.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.6/35 · Revenue 6% · Profit 67.2% · Operating margin change 11 points · 100% evidence Capital efficiency 21.4/25 · ROCE 30.4% · Operating margin 21% · 100% evidence Valuation 16.5/20 · P/E 15.8× · PEG 0.54 · 100% evidence Relative strength 20.0/20 · Lead over its industry 17.7% · Lead over NIFTY 500 16% · 1 year 24.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 27.6 + 21.4 + 16.5 + 20 = 85.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Axtel Industries Ltd](https://www.sectoralpha.in/stocks/axtel-industries-ltd) AXTEL · breaking out · Most evidence points up · 81% evidence 71.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 42.1% · Profit 97.3% · Operating margin change 2.3 points · 88% evidence Capital efficiency 15.1/25 · ROCE 30% · Operating margin 7.8% · 100% evidence Valuation 15.4/20 · P/E 21.3× · PEG 0.72 · 100% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 1.2% · 1 year -13.6% · 25% evidence · 0 of 5 weeks ahead Exact sum: 29.9 + 15.1 + 15.4 + 10.8 = 71.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [ISGEC Heavy Engineering Ltd](https://www.sectoralpha.in/stocks/isgec-heavy-engineering-ltd) ISGEC · breaking out · Evidence leans up · 96% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/35 · Revenue 19.5% · Profit 5.7% · Operating margin change -3 points · 88% evidence Capital efficiency 13.1/25 · ROCE 11.2% · Operating margin 6% · 100% evidence Valuation 7.1/20 · P/E 25.9× · PEG 1.64 · 100% evidence Relative strength 19.5/20 · Lead over its industry 10.6% · Lead over NIFTY 500 9% · 1 year 4.6% · 100% evidence · 4 of 12 weeks ahead Exact sum: 19 + 13.1 + 7.1 + 19.5 = 58.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [BGR Energy Systems Ltd](https://www.sectoralpha.in/stocks/bgr-energy-systems-ltd) BGRENERGY · turning · Too little evidence to rank firmly · 53% evidence 33.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.0/35 · Revenue -38.3% · Profit -10.9% · Operating margin change -529 points · 65% evidence Capital efficiency 0.3/25 · ROCE -26.9% · Operating margin -648% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 9.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -4.7% · 1 year -35.7% · 25% evidence · 2 of 12 weeks ahead Exact sum: 14 + 0.3 + 10 + 9.2 = 33.5 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Ircon International Ltd](https://www.sectoralpha.in/stocks/ircon-international-ltd) IRCON · quiet · Most evidence points down · 96% evidence 32.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue -9.9% · Profit -22.2% · Operating margin change -1 points · 88% evidence Capital efficiency 9.8/25 · ROCE 9.3% · Operating margin 10% · 100% evidence Valuation 10.3/20 · P/E 17.4× · PEG 1.13 · 100% evidence Relative strength 0.0/20 · Lead over its industry -25.5% · Lead over NIFTY 500 -26.4% · 1 year -43% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.7 + 9.8 + 10.3 + 0 = 32.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [EMS Ltd](https://www.sectoralpha.in/stocks/ems-ltd) EMSLIMITED · quiet · Most evidence points down · 81% evidence 31.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.3/35 · Revenue -34.1% · Profit -63.4% · Operating margin change -6 points · 88% evidence Capital efficiency 12.8/25 · ROCE 12.8% · Operating margin 17% · 100% evidence Valuation 3.2/20 · P/E 22.9× · PEG 2.09 · 100% evidence Relative strength 8.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -18.9% · 1 year -46.8% · 25% evidence · 6 of 12 weeks ahead Exact sum: 7.3 + 12.8 + 3.2 + 8 = 31.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Bondada Engineering Ltd](https://www.sectoralpha.in/stocks/bondada-engineering-ltd) BONDADA · basing · Too little evidence to rank firmly · 50% evidence 61.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.7/35 · Revenue n/a · Profit n/a · Operating margin change -1 points · 45% evidence Capital efficiency 19.8/25 · ROCE 39.4% · Operating margin 11% · 76% evidence Valuation 15.0/20 · P/E 14× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.8% · 1 year -39% · 25% evidence · 1 of 5 weeks ahead Exact sum: 17.7 + 19.8 + 15 + 8.6 = 61.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Artson Ltd](https://www.sectoralpha.in/stocks/artson-ltd) ARTSON · Too little evidence to rank firmly · 48% evidence 28.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.3/43.75 · Revenue 8.7% · Profit -80% · Operating margin change -2.9 points · 83% evidence Capital efficiency 6.1/31.25 · ROCE -14.6% · Operating margin 4.5% · 76% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 10.3 + 6.1 + 12.5 = 28.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Infra - Engineering - General](https://www.sectoralpha.in/sectors/infra-engineering-general), all 8 compared on one page. ## Which companies are close to Engineers India in size? Engineers India is the largest of 8 Infra - Engineering - General companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Ircon International, ISGEC Heavy Engineering, Bondada Engineering, BGR Energy Systems, EMS and Axtel Industries. ### Infra - Engineering - General companies close in size

1. Engineers India Ltd ₹14,155 crore
2. [Ircon International Ltd](https://www.sectoralpha.in/stocks/ircon-international-ltd) ₹9,088 crore
3. [ISGEC Heavy Engineering Ltd](https://www.sectoralpha.in/stocks/isgec-heavy-engineering-ltd) ₹6,762 crore
4. [Bondada Engineering Ltd](https://www.sectoralpha.in/stocks/bondada-engineering-ltd) ₹2,943 crore
5. [BGR Energy Systems Ltd](https://www.sectoralpha.in/stocks/bgr-energy-systems-ltd) ₹2,034 crore
6. [EMS Ltd](https://www.sectoralpha.in/stocks/ems-ltd) ₹1,560 crore
7. [Axtel Industries Ltd](https://www.sectoralpha.in/stocks/axtel-industries-ltd) ₹666 crore

[All 8 Infra - Engineering - General companies, largest first](https://www.sectoralpha.in/sectors/infra-engineering-general#all-companies)

### Companies close in size in other industries

1. [Graphite India Ltd](https://www.sectoralpha.in/stocks/graphite-india-ltd) ₹14,181 crore · Electrodes - Welding Equipment
2. [Chambal Fertilisers & Chemicals Ltd](https://www.sectoralpha.in/stocks/chambal-fertilisers-chemicals-ltd) ₹14,179 crore · Fertilisers
3. Engineers India Ltd ₹14,155 crore
4. [Black Box Ltd](https://www.sectoralpha.in/stocks/black-box-ltd) ₹14,150 crore · Data Centre
5. [Indegene Ltd](https://www.sectoralpha.in/stocks/indegene-ltd) ₹14,141 crore · Services - Others

## What else do people ask about Engineers India? ### What is Engineers India's share price today? Engineers India Ltd's share price is ₹300.85, +53.2% over the past year. The whole company is worth ₹16,899 Cr on the market. In the last 52 weeks it traded between ₹167 to ₹316; today it is 90% of the way up from the low, 23.9% above its 200-day average (as of 4 November 2026). ### What were Engineers India's latest quarterly results? Engineers India Ltd reported revenue of ₹824 Cr and net profit of ₹197 Cr for the Sep 2026 quarter. Revenue fell 10.5% and profit rose 137.3% compared with a year earlier. Earnings per share were ₹3.50. The operating margin was 21.0%, 11.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Engineers India's market cap? Engineers India Ltd's market capitalisation is ₹16,899 Cr at a share price of ₹300.85. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Engineers India performing? Engineers India Ltd's share price has been rising for 29 weeks. In its latest quarter, revenue fell 10.5% and profit rose 137.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 14 weeks running (as of 4 November 2026). ### Will Engineers India's share price go up? This page does not forecast Engineers India Ltd's share price. What it shows instead: the share price is ₹300.85, and it has been rising for 29 weeks. Its P/E of 18.9× is higher than 33% of its own last 11 years (as of 4 November 2026). ### Where is Engineers India in its business cycle? Engineers India Ltd's FY26 operating margin was 18.0%, against a 13-year range of 9.0% to 27.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 21.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Engineers India story? The main question: profits are rising, but only 38% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Engineers India a stock worth studying right now? What the numbers show: Engineers India Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 33% of past readings. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Engineers India share price forecast for 2026? What management itself guided: FY27 turnover around ₹4,200-4,300 crore maintained on current book. What is changing at Engineers India, from the latest results and calls: consultancy execution and mix, new turnkey projects enter execution and selective cost-plus contracting. What would change the story: If the promised later turnkey ramp fails to restore revenue growth and consultancy execution also stalls while cash conversion remains weak, the backlog would cease to support the earnings thesis. ### Where does this page get Engineers India's management information? From Engineers India's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.