Engineers India (ENGINERSIN) Q3 25/26 earnings summary

Executive summary

• Achieved record-high order book of INR 125,379 million as of December 2025, with 60% from consultancy and 40% from turnkey projects, the highest in company history.

• Q3 FY26 consolidated revenue rose to ₹121,024.13 lakhs, up from ₹76,458.77 lakhs in Q3 FY25, with total income at ₹126,943.67 lakhs.

• Profit before tax for Q3 FY26 was INR 3,959 million, up 235% year-over-year; PAT was INR 3,017 million, up 243% year-over-year.

• Major order wins include consultancy for Dangote Refinery, a fertilizer complex in Nigeria, EPCM services for Dahej, and FEED services in UAE and Indonesia.

• For the nine months ended Dec 2025, total income was INR 30,919 million, up from INR 21,649 million in the prior year period.

Financial highlights

• Q3 FY26 operating margin was INR 337 crore (28%), up from INR 102 crore (11%) in Q2 FY26; EBITDA was INR 406 crore (32% margin).

• Nine-month consolidated revenue rose to ₹3,00,188.97 lakhs from ₹2,07,735.81 lakhs YoY; PAT for nine months was ₹49,605.54 lakhs, up from ₹29,996.13 lakhs.

• Consultancy turnover in Q3 FY26 was INR 474 crore, turnkey INR 720 crore; segment profit for consultancy was INR 1,043 million, turnkey profit INR 2,737 million.

• EPS for Q3 FY26 was INR 6.18, up from INR 1.94 in Q3 FY25; nine-month EPS at INR 8.83.

• PAT margin for Q3 FY26 was 24%, up from 11% in Q3 FY25.

Outlook and guidance

• Revenue for FY26 expected to exceed INR 4,000 crore, with similar or higher target for FY27.

• Order inflow for FY26 projected to surpass INR 8,000 crore, with sustainable growth expected in subsequent years.

• Consultancy segment margins expected to remain at 20%-25%; turnkey segment margins to normalize at 6%-7% over the long term.

• Execution of major orders, including Dangote projects, to span 3-4 years, supporting future revenue visibility.

• The company targets Net Zero by 2035 and continues to secure significant domestic and overseas consultancy and turnkey orders.