Engineers India Q3 Review - Order Inflow Remains A Concern: Prabhudas Lilladher

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Prabhudas Lilladher Report

Engineers India Ltd. reported subdued revenues of Rs 8.4 billion, down 6% YoY led by Covid-19 related execution challenges.

Overall weak operating performance at turnkey levels led to lower than expected profitability.

Margins in turnkey projects were weak at 1.4% versus 3% in Q3 FY20 and 1.9% in Q2 FY21 thereby lowering overall margins.

Order inflows de-grew by 48% YoY to Rs 1.9 billion led by delay in ordering activity. Order inflow mainly came from domestic consultancy segment (~97%).

Order book declined by 18% YoY to Rs 83 billion.

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