Engineers india

CMP........226

Engineers India Limited (EIL) was set up in 1965 to provide engineering and related technical services for petroleum refineries and other industrial projects. EIL is working under the administrative control of Ministry of Petroleum and Natural Gas (MoP&NG), Government of India. In addition to Petroleum Refineries, with which EIL started initially, over the years it has diversified and excelled in various other fields. EIL today has emerged as Asia’s leading design, engineering and turnkey contracting company providing a complete range of project services needed to conceptualize, plan, design, engineer and construct projects to meet the specific requirements of its clients in the following fields:

Petroleum Refining
Petrochemicals
Pipelines
Offshore Oil & Gas
Onshore Oil & Gas
Terminals & Storages
Mining & Metallurgy
Infrastructure
The Company is a technologically driven organization, which believes that investment in technology is imperative for maintaining the leadership position that they have attained for delivering world-class engineering solutions to their clients. During this year, the Company has acquired one patent and it currently holds 12 patents and has 17 pending patent applications relating to various process technologies.Company's R&D division is pursuing developmental activities, both in-house and in collaboration with other organizations like IOCL-R&D, BPCL- R&D, IIP, HPCL, CPCL, NRL etc.
On technology front, DHDT technology indigenously developed by EIL & IOC has been adopted at IOCL's Bongaigaon Refinery. The Unit was successfully commissioned to produce EURO-IV diesel and ATF fuels. The Centre for High Technology (CHT) sponsored Coal to Liquid (CTL ) technology development project undertaken in association with BPCL (R&D) is progressing well and the development project undertaken in association with IIT Kharagpur for CO2 removal from Natural Gas is nearing completion.EIL will now focus on the potential opportunities arising from the projected investments targeted for the 12th Five Year plan, beginning April 2012. Pre-project activities for a number of future greenfield and brownfield projects have already been initiated by their clients.

Company along with its strategic partners has secured major break-through in securing an exploration block under NELP IX. As a part of its diversification into power sector, EIL is also considering participation in a Solar Power Plant under Phase-II of National Solar Mission. EIL's re-entry into fertilizer sector has also met with some success.

Among others the following are some of the highlights.

Inauguration of new Super Specialty blocks in Government General Hospital, Kakinada constructed under CSR initiative of EIL by Dr. M. M. Pallam Raju, Hon’ble Union Minister for Human Resource Development
EIL Conferred with ICC PSE Excellence Award-2012
IPE CSR Corporate Governance Award to EIL

Financials:

Revenues have grown from 738 cr to 3700 cr and NP from 195 cr to 636 cr during 2008 to 2012.Free reserves per share of F V 5 are at 49.67.The company paid a dividend of 120% last FY 2012.The company's ROCE stands at 49.59.

The stock appears to be a good pick for medium/long term investment.