Multibagger Navratna PSU Stock To Mull Dividend On Feb 2, Jumps 88% In 3-Months

Mid Cap Navratna public sector undertaking, Engineers India Ltd informed via its BSE filing about its upcoming meeting of Board of Directors scheduled to take place on February 2, 2024 to consider, approve financial results and interim dividend, if any for the FY 2023-24.

Last trading price of Engineers India Ltd shares on BSE is Rs 232.70 apiece. Engineers India shares soared 173% in last 1-year and the company has a market capitalisation of Rs 13,078.73 crore. Check details pertaining to the stock below:

Engineers India Ltd To Consider Interim Dividend: As per the BSE filing of Engineers India dated January 24, 2024, "Engineers India Ltd informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/02/2024 ,inter alia, consider and approve (i) Un-audited Standalone and Consolidated Financial Results for the third quarter and nine months ended on 31st December, 2023 and (ii) Interim Dividend, if any, for the financial year 2023-24."

Engineers India Fixes Record Date For Dividend: EIL has fixed Monday, 12th February, 2024 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend on equity paid-up share capital of the Company for the financial year 2023-24, if any, declared at the aforesaid Board Meeting, added the regulatory filing of the company.

Engineers India Stock Performance & Return: Last trading price of Engineers India shares on BSE as on January 25, 2024 is Rs 232.70 apiece with intraday fall of 0.34%. The 52-week high price of Engineers India shares on BSE is quoted at Rs 255.00 per share and 52-week low price is quoted at Rs 70.10 apiece, respectively. Engineers India shares zoomed 173% in last 1-year and gained 238% in last 2-years. In last 3-years, Engineers India stock soared 215%. Engineers India shares have been witnessing stunning rally in last few months too. The scrip surged 88% in last 3-months only and gained 45% in last 1-months.

Engineers India Ltd Financials: The PSU firm recorded a 37.4% jump in its net profit for the quarter ended September 30, 2024 to Rs 88.6 crore as against Rs 64.5 crore. The company's revenue soared nearly 24.8% to Rs 484.9 crore YoY as compared to Rs 388.6 crore in the corresponding quarter of last year. Its EBITDA came at Rs 118.8 crore for the quarter under consideration, up 28.2% and margin at 24.5%.

LIC Trims Stake In Engineers India: It is worth noting here that Life Insurance Corporation of India (LIC) reduced its stake in Engineers Indi by nearly 2% via open market last year in November. LIC revealed in its BSE filing dated November 23, 2023 that it sold 1.14 crore shares of the PSU during the period from February 2, 2021 to November 22, 2023 at an average price of Rs 118.08 apiece. Consequently, LIC's entire stake in Engineers India declined to 3.122% from the earlier 5.155%.

About Engineers India: Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. The Company has also diversified into sectors like infrastructure, water and waste manage ment, solar & nuclear power and fertilizers to leverage its strong technical competencies and track record, according to its official website. Engineers India Ltd (EIL), a Navratna PSU, is one of the leading design and engineering organizations in South Asia, according to its Linkedin profile.

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