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Time of India
a day ago
- Business
- Time of India
engineers india: I-Sec downgrades Engineers India to Add, raises target price to Rs 250
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Time of India
a day ago
- Business
- Time of India
I-Sec downgrades Engineers India to Add, raises target price to Rs 250
ICICI Securities downgraded Engineers India to Add (from Buy earlier) with a revised target price of Rs 250 (Rs 190 earlier). The current market price of Engineers India is Rs 231.45. Incorporated in 1965, Engineers India is a Mid Cap company with a market cap of Rs 13008.47 crore, operating in the Services sector. Engineers India's key products/revenue segments include Turnkey Project and Engineering Consultancy for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1046.58 crore, up 30.39 % from last quarter Total Income of Rs 802.66 Crore and up 22.22 % from last year same quarter Total Income of Rs 856.28 crore. The company has reported net profit after tax of Rs 242.31 crore in the latest quarter. The company's top management includes Shukla, Gopal, Vasantrao Patil, Madhusudan Joshi, Shanker Prasad Singh, Prakash Tomar, Mhaskey, Gupta, Agarwal, Gupta, Jindal, Kumar. Company has N K Bhargava & Co. as its auditors. As on 31-03-2025, the company has a total of 56 crore shares outstanding. Investment Rationale Engineers India has downgraded rating to ADD (from Buy) with a revised target price of Rs 250 on account of expensive valuations; valuing FY27E core PAT at 20x. Promoter/FII Holdings Promoters held 51.32 per cent stake in the company as of 31-Mar-2025, while FIIs owned 6.75 per cent, DIIs 10.76 per cent.
Economic Times
a day ago
- Business
- Economic Times
I-Sec downgrades Engineers India to Add, raises target price to Rs 250
ICICI Securities downgraded Engineers India to Add (from Buy earlier) with a revised target price of Rs 250 (Rs 190 earlier). The current market price of Engineers India is Rs 231.45. Incorporated in 1965, Engineers India is a Mid Cap company with a market cap of Rs 13008.47 crore, operating in the Services sector. ADVERTISEMENT Engineers India's key products/revenue segments include Turnkey Project and Engineering Consultancy for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1046.58 crore, up 30.39 % from last quarter Total Income of Rs 802.66 Crore and up 22.22 % from last year same quarter Total Income of Rs 856.28 crore. The company has reported net profit after tax of Rs 242.31 crore in the latest quarter. The company's top management includes Shukla, Gopal, Vasantrao Patil, Madhusudan Joshi, Shanker Prasad Singh, Prakash Tomar, Mhaskey, Gupta, Agarwal, Gupta, Jindal, Kumar. Company has N K Bhargava & Co. as its auditors. As on 31-03-2025, the company has a total of 56 crore shares outstanding. Investment Rationale Engineers India has downgraded rating to ADD (from Buy) with a revised target price of Rs 250 on account of expensive valuations; valuing FY27E core PAT at 20x. Promoter/FII Holdings Promoters held 51.32 per cent stake in the company as of 31-Mar-2025, while FIIs owned 6.75 per cent, DIIs 10.76 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
02-06-2025
- Business
- Time of India
In infrastructure, power, defence and railway PSUs expected to thrive: Ajay Bagga
Ajay Bagga , Market Expert, says the government and household spending are driving infrastructure growth , while private capital expenditure remains sluggish due to low capacity utilization and policy uncertainty. Despite export challenges, infrastructure providers, particularly those linked to government projects in power, defence, and railways, are expected to thrive. The focus should be on import substitution to boost domestic production, as large-scale private investment is still pending. What is your view on the industrial space ? How are you viewing this space and within this space do you see value in any particular pocket? We just had two results coming in. Engineers India had a stellar quarter, but Cummins India had a slightly muted quarter and their domestic demand contributed most to their revenue, but growth came from exports. Ajay Bagga : If you had asked me about the sector, I would have named that after finance. Overall, if you look at the sector, where will the spend come from? The government continues to spend. So, government spending is happening well. Secondly, spending is coming from households and single firm proprietary entrepreneurs. The private capex is not coming through. So, private capex is a follower always and every year we get optimistic in December that this year will be the year of the private capex, it has not been happening for quite some time and you get the answer in the macro in the output gap. When your capacity utilisation is still under 80%, nobody is in a crying need to put up new factories. When all these tariffs came in, especially the 145% tariff on China, there was excitement China plus one, this that, all our exporters came back and said I am not putting up a factory based on Trump policy which might change in two weeks and it did change, from 145 to 30. How do you make a business plan in that kind of a scenario? So, overall private capex is still some part away which is unfortunate, otherwise we would be growing at 8%. Why we are growing at 6.5 is because the government is doing the heavy lifting and the private consumption expenditure, the Indian household, is doing the heavy lifting. Exports are not growing that fast and fourthly, private capex is not coming. In that, how do you look at the industrials or infrastructure? All the infra providers will do well. Power has taken a backseat last few months because of, now there is some kind of realisation on execution, but power remains evergreen, so anything to do with power whether evacuating power, whether producing power, transmitting it, or setting up storage units, renewables, all those will do well. The infrastructure providing companies will do well, especially those linked to the government. That is why defence and railways always boom near to budget or whenever big order flows are expected to come through they do well and then the government capex-related companies do well. Live Events You Might Also Like: Is bottom-up investment strategy key to unlocking growth in today's market? Krishnan VR explains In private capex, this year we are getting disappointed given the global over capacity. Just to give an idea, 21% of manufacturing goods move across the border in the world, so roughly 80% is consumed within the country. We have to find import substitution ideas where we can produce things within the country and consume them and there those industries linked to them will do well. But overall, stick with the government sector or the very small retail focused capex, the big private capex is probably still due. You Might Also Like: Any dip towards 24,500-24,700 should be looked at as a buying opportunity: Dharmesh Shah India VIX surge due to global issues, still within normal range: Ajay Bagga
Zawya
14-02-2025
- Business
- Zawya
Oil refiners adding renewable feedstock to produce cleaner fuels, executives say
Oil refiners are increasing their efforts to blend renewable feedstocks such as used cooking oil into their crude refining streams to meet global demand for cleaner fuels. As a result, demand for catalysts and additives to remove the impurities from bio-feedstock has risen, Maurits van Tol, chief executive of catalyst technologies provider Johnson Matthey, said on the sidelines of the India Energy Week conference. "What we see is alternative feedstocks, the blending in of some components with biomass background at refineries in the last couple of years," he said. Demand for catalysts and additives is also getting a boost from the widespread usage of cheaper heavy crude which harms the units because of their higher sulphur content, van Tol said. PETROCHEMICALS Refineries are also pivoting towards making more petrochemicals to offset lower transportation fuels demand from the growth of electric vehicles. "The configuration of new age refineries will have more lighter products like gasoline and naphtha," said Vartika Shukla, chairperson of state-run Engineers India. In India, Bharat Petroleum targets increasing its petrochemical output to more than 40% of its portfolio compared with about 2%-3% at present through its new refinery in Southern India, said Sanjay Khanna, the company's director of refineries. The company plans to build a new refinery with a capacity of at least 180,000 barrels per day in the state of Andhra Pradesh. (Reporting by Mohi Narayan and Sethuraman NR; Editing by Florence Tan and Christian Schmollinger)
