The shares of one of the leading global engineering consulting companies fell to 1.2 percent after LIC sold 2.033 percent of the company.
On Friday the company’s shares were trading at Rs 146.15 per share, a 0.51 percent decrease over its previous close of Rs 146.90 per share. The company has a market capitalization of Rs 8,215.25 crores.
According to the company filing, Life Insurance Corporation sold 1,14,23,722 equity shares of Engineers India Ltd i.e. equivalent to 2.033 percent of the company, earlier LIC held 5 percent of the company which is 2,89,70,343 equity shares.
Looking at the company’s financial statements operating revenues fell 0.5 percent from Rs 793 crores in Q2FY23 to Rs 789 crores in Q2FY24, during the same period, net profit increased 18 percent from Rs 85 crores to Rs 101 crores.
The company reported a net profit margin of 10 percent, a dividend yield of 2.04 percent, and it has carried no debt for the past 5 years. Over the past six months, the share price of Engineers India has increased by 34.18 percent, and so far this year, it has increased by 82.52 percent.
In the most recent fiscal year, Engineers India Ltd. disclosed return ratios of 18.45 percent for return on equity and 24.04 percent for return on capital employed.
Engineers India Ltd’s recent shareholding pattern, The Promoters of The Company own 51.32 percent while Retail shareholders own a 23.61 percent stake in the company and Foreign Institutional Investors own a 7.88 percent stake.
Engineers India Ltd is a public sector primarily provides engineering consultancy and EPC services focused on oil & gas and petrochemicals.
Written By:- Abhishek Singh
