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Engineers India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹132.93Overvalued by 33.87%vs CMP ₹201.00

P/E (14.6) × ROE (23.2%) × BV (₹48.10) × DY (1.99%)

₹142.45Overvalued by 29.13%vs CMP ₹201.00
MoS: -41.1% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹187.4123%Fair (-6.8%)
Graham NumberEarnings₹122.2517%Over (-39.2%)
Earnings PowerEarnings₹66.5211%Over (-66.9%)
DCFCash Flow₹338.4211%Under (+68.4%)
Net Asset ValueAssets₹48.137%Over (-76.1%)
EV/EBITDAEnterprise₹78.519%Over (-60.9%)
Earnings YieldEarnings₹138.107%Over (-31.3%)
ROCE CapitalReturns₹117.799%Over (-41.4%)
Revenue MultipleRevenue₹54.956%Over (-72.7%)
Consensus (9 models)₹142.45100%Overvalued
Key Drivers: EPS CAGR 41.0% lifts DCF — verify sustainability. | Wide model spread (₹48–₹338) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 41.0%

*Investments are subject to market risks

Analyst Summary

Engineers India Ltd operates in the Engineering - General segment, NSE: ENGINERSIN | BSE: 532178, current market price is ₹201.00, market cap is 11,296 Cr.. At a glance, stock P/E is 14.6, ROE is 23.2 %, ROCE is 25.0 %, book value is 48.1, dividend yield is 1.99 %. The latest intrinsic value estimate is ₹142.45, around 29.1% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹3,088 Cr versus the prior period change of -5.9%, while latest net profit is about ₹580 Cr with a prior-period change of 30.3%. The 52-week range shown on this page is 255/149, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisEngineers India Ltd. is a Public Limited Listed company incorporated on 15/03/1965 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899D…

This summary is generated from the stock page data available for Engineers India Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

77
Engineers India Ltd scores 77/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health84/100 · Strong
ROCE 25.0% ExcellentROE 23.2% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.99% (6mo) Slight increaseDII holding up 2.62% MF buyingPromoter holding at 51.3% Stable
Earnings Quality65/100 · Strong
OPM expanding (11% → 13%) Improving
Quarterly Momentum90/100 · Strong
Revenue (4Q): +19% YoY GrowingProfit (4Q): +45% YoY StrongOPM: 13.0% (up 4.0% YoY) Margin expansion
Industry Rank70/100 · Strong
P/E 14.6 vs industry 35.5 Cheaper than peersROCE 25.0% vs industry 37.7% AverageROE 23.2% vs industry 16.9% Above peers3Y sales CAGR: 2% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:52 am

Market Cap 11,296 Cr.
Current Price 201
Intrinsic Value₹142.45
High / Low 255/149
Stock P/E14.6
Book Value 48.1
Dividend Yield1.99 %
ROCE25.0 %
ROE23.2 %
Face Value 5.00
PEG Ratio0.36

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Engineers India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Engineers India Ltd 11,296 Cr. 201 255/14914.6 48.11.99 %25.0 %23.2 % 5.00
Ircon International Ltd 11,794 Cr. 125 226/11419.2 68.72.11 %11.6 %11.3 % 2.00
Azad Engineering Ltd 9,911 Cr. 1,535 1,899/1,12880.5 2290.00 %12.2 %8.58 % 2.00
Va Tech Wabag Ltd 7,703 Cr. 1,236 1,680/1,03322.3 3730.32 %19.7 %14.6 % 2.00
Craftsman Automation Ltd 16,312 Cr. 6,838 8,220/3,70046.4 1,2700.07 %11.7 %9.41 % 5.00
Industry Average3,678.83 Cr421.0935.53118.780.36%37.74%16.87%6.04

All Competitor Stocks of Engineers India Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 7938428808187908688056246897651,010870921
Expenses 748792713747691818728573627667709798802
Operating Profit 45501677199507751629830172120
OPM % 6%6%19%9%12%6%10%8%9%13%30%8%13%
Other Income 65264594443051394738363637
Interest 0001011111011
Depreciation 77788811101010111110
Profit before tax 1036920415613471117799912632697146
Tax % 17%27%23%25%24%26%23%26%22%25%26%25%25%
Net Profit 751619013912763116921001092806583
EPS in Rs 1.340.293.382.472.271.132.061.631.771.934.981.161.49

Last Updated: January 1, 2026, 8:36 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,8461,7411,5411,4801,8242,4763,2373,1442,9133,3303,2813,0884,012
Expenses 1,3551,5071,3311,1631,3952,0992,7812,7922,5673,0202,9822,5733,167
Operating Profit 491234210316429377455352346310299514845
OPM % 27%13%14%21%24%15%14%11%12%9%9%17%21%
Other Income 22926524722217622225534130164219160169
Interest 1225234633552
Depreciation 15202523242224242426354042
Profit before tax 704477430511579574683356449446478630970
Tax % 31%34%35%35%34%35%36%27%24%23%25%25%
Net Profit 483313278330383368424249140346445580776
EPS in Rs 7.164.644.134.906.075.836.714.432.486.167.9210.3213.81
Dividend Payout % 45%54%48%61%66%69%77%45%121%49%38%39%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-35.20%-11.18%18.71%16.06%-3.92%15.22%-41.27%-43.78%147.14%28.61%30.34%
Change in YoY Net Profit Growth (%)0.00%24.01%29.89%-2.64%-19.98%19.13%-56.49%-2.50%190.92%-118.53%1.72%

Engineers India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:-1%
3 Years:2%
TTM:8%
Compounded Profit Growth
10 Years:8%
5 Years:7%
3 Years:62%
TTM:39%
Stock Price CAGR
10 Years:8%
5 Years:24%
3 Years:41%
1 Year:-8%
Return on Equity
10 Years:16%
5 Years:18%
3 Years:21%
Last Year:24%

Last Updated: September 5, 2025, 3:35 am

Balance Sheet

Last Updated: December 4, 2025, 1:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 168168168337316316316281281281281281281
Reserves 2,3532,4632,6532,5082,0252,0292,0901,4701,4891,6801,9652,3882,424
Borrowings 00000054419332220
Other Liabilities 1,2951,3561,3421,5512,1732,4162,6852,6872,4042,4082,4542,5742,732
Total Liabilities 3,8173,9884,1644,3964,5144,7615,0964,4414,1774,3884,7335,2655,457
Fixed Assets 121272242272257248274263263279298295285
CWIP 132192456525231726364667
Investments 732138755332423154611,3241,0881,1791,3801,3951,506
Other Assets 2,8323,5593,8223,5353,9634,1464,3592,8532,8212,9053,0203,5303,598
Total Assets 3,8173,9884,1644,3964,5144,7615,0964,4414,1774,3884,7335,2655,457

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 85658823659954937617148-113222109
Cash from Investing Activity + 16717470197165-4-22977661322145-36
Cash from Financing Activity + -256-240-162-284-892-362-334-904-149-176-180-185
Net Cash Flow -4-1-4150-129183-18843-3934187-112
Free Cash Flow 328823757051735816023-14718868
CFO/OP 61%96%115%127%205%204%132%95%54%7%93%47%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow491.00234.00210.00316.00429.00377.00450.00348.00342.00291.00266.00492.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 7092899811263776248403753
Inventory Days
Days Payable
Cash Conversion Cycle 7092899811263776248403753
Working Capital Days -107-100-117-164-215-198-164-186-179-125-124-101
ROCE %28%16%16%18%22%25%29%25%25%24%22%25%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 51.32%51.32%51.32%51.32%51.32%51.32%51.32%51.32%51.32%51.32%51.32%51.32%
FIIs 7.96%7.70%7.88%7.60%7.01%7.26%7.31%6.89%6.75%7.13%7.00%7.74%
DIIs 15.81%18.46%17.18%15.51%13.60%13.89%11.01%10.59%10.76%14.30%13.74%13.38%
Government 0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.04%0.04%0.04%
Public 24.90%22.51%23.60%25.54%28.05%27.51%30.32%31.19%31.14%27.20%27.89%27.52%
No. of Shareholders 2,58,3262,41,8202,75,9902,88,4613,85,9504,26,8244,68,6714,81,4134,85,2254,32,3814,39,8834,35,481

Shareholding Pattern Chart

No. of Shareholders

Engineers India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Multicap Fund 16,060,122 1.22 276.99N/AN/AN/A
HSBC Small Cap Fund 10,297,478 1.18 177.610,863,0392026-02-23 05:27:57-5.21%
Tata Value Fund 3,728,185 0.73 64.3N/AN/AN/A
Kotak ELSS Tax Saver Fund 3,200,000 0.88 55.192,800,0002025-12-15 02:58:3514.29%
SBI PSU Fund 3,200,000 0.92 55.193,200,0002025-04-22 15:56:580%
DSP Small Cap Fund 3,000,000 0.32 51.745,630,8732025-12-07 00:37:57-46.72%
ICICI Prudential Smallcap Fund 3,000,000 0.64 51.742,585,0172026-02-21 09:22:5216.05%
ICICI Prudential Energy Opportunities Fund 2,899,523 0.51 50.012,499,5232026-02-22 01:54:3316%
HSBC Multi Cap Fund 2,445,382 0.81 42.182,636,9072026-02-21 09:22:52-7.26%
HSBC ELSS Tax saver Fund 2,124,300 0.92 36.64N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 10.327.926.162.483.99
Diluted EPS (Rs.) 10.327.926.162.483.99
Cash EPS (Rs.) 9.107.036.586.525.07
Book Value[Excl.RevalReserv]/Share (Rs.) 47.4940.1334.9031.4931.15
Book Value[Incl.RevalReserv]/Share (Rs.) 47.4940.1334.9031.4931.15
Revenue From Operations / Share (Rs.) 54.9458.3759.2551.8255.94
PBDIT / Share (Rs.) 11.979.188.418.439.58
PBIT / Share (Rs.) 11.268.567.958.019.16
PBT / Share (Rs.) 11.218.517.938.006.34
Net Profit / Share (Rs.) 8.406.416.126.104.65
NP After MI And SOA / Share (Rs.) 10.327.926.162.484.43
PBDIT Margin (%) 21.7815.7314.1916.2717.13
PBIT Margin (%) 20.4914.6613.4215.4616.37
PBT Margin (%) 20.4114.5713.3715.4311.33
Net Profit Margin (%) 15.2810.9710.3311.778.31
NP After MI And SOA Margin (%) 18.7713.5710.394.787.91
Return on Networth / Equity (%) 21.7219.7417.657.8814.21
Return on Capital Employeed (%) 23.4420.9122.4625.2429.15
Return On Assets (%) 11.019.387.893.335.60
Asset Turnover Ratio (%) 0.610.710.770.650.65
Current Ratio (X) 1.191.101.041.020.97
Quick Ratio (X) 1.181.101.041.010.97
Inventory Turnover Ratio (X) 4701.310.000.000.000.00
Dividend Payout Ratio (NP) (%) 29.0837.8648.69104.7370.96
Dividend Payout Ratio (CP) (%) 27.2235.1045.3389.5664.80
Earning Retention Ratio (%) 70.9262.1451.31-4.7329.04
Cash Earning Retention Ratio (%) 72.7864.9054.6710.4435.20
Interest Coverage Ratio (X) 252.90169.49314.41496.28145.96
Interest Coverage Ratio (Post Tax) (X) 178.46119.25229.96359.97113.84
Enterprise Value (Cr.) 7693.8810131.713085.242214.273008.93
EV / Net Operating Revenue (X) 2.493.090.920.760.95
EV / EBITDA (X) 11.4419.636.534.675.59
MarketCap / Net Operating Revenue (X) 2.923.461.261.231.38
Retention Ratios (%) 70.9162.1351.30-4.7329.03
Price / BV (X) 3.385.032.132.032.47
Price / Net Operating Revenue (X) 2.923.461.261.231.38
EarningsYield 0.060.030.080.030.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Engineers India Ltd. is a Public Limited Listed company incorporated on 15/03/1965 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1965GOI004352 and registration number is 004352. Currently Company is involved in the business activities of Architectural and engineering activities and related technical consultancy. Company's Total Operating Revenue is Rs. 3028.35 Cr. and Equity Capital is Rs. 281.02 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - GeneralEngineers India House, New Delhi Delhi 110066Contact not found
Management
NamePosition Held
Ms. Vartika ShuklaChairman & Managing Director
Mr. Sanjay JindalDirector - Finance & CFO
Mr. Atul GuptaDirector - Commercial
Mr. Rajiv AgarwalDirector - Technical
Mr. Subhas BalakumarDirector - Projects
Mr. Rupesh Kumar SinghDirector - Human Resources
Mr. Mahesh GoyalNon Official Independent Director
Mr. Shambhu Nath KeshriNon Official Independent Director
Ms. Karuna Gopal VartakaviNon Official Independent Director
Mr. Deepak MhaskeyNon Official Independent Director
Mr. Arun KumarGovernment Nominee Director
Mr. Kapil VermaGovernment Nominee Director

FAQ

What is the intrinsic value of Engineers India Ltd and is it undervalued?

As of 22 April 2026, Engineers India Ltd's intrinsic value is ₹142.45, which is 29.13% lower than the current market price of ₹201.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (23.2 %), book value (₹48.1), dividend yield (1.99 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Engineers India Ltd?

Engineers India Ltd is trading at ₹201.00 as of 22 April 2026, with a FY2026-2027 high of ₹255 and low of ₹149. The stock is currently in the middle of its 52-week range. Market cap stands at ₹11,296 Cr..

How does Engineers India Ltd's P/E ratio compare to its industry?

Engineers India Ltd has a P/E ratio of 14.6, which is below the industry average of 35.53. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Engineers India Ltd financially healthy?

Key indicators for Engineers India Ltd: ROCE of 25.0 % indicates efficient capital utilization; ROE of 23.2 % shows strong shareholder returns. Dividend yield is 1.99 %.

Is Engineers India Ltd profitable and how is the profit trend?

Engineers India Ltd reported a net profit of ₹580 Cr in Mar 2025 on revenue of ₹3,088 Cr. Compared to ₹140 Cr in Mar 2022, the net profit shows an improving trend.

Does Engineers India Ltd pay dividends?

Engineers India Ltd has a dividend yield of 1.99 % at the current price of ₹201.00. The company pays dividends, though the yield is modest.

Last Updated: April 2, 2026, 2:52 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532178 | NSE: ENGINERSIN
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Engineers India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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