FIIs Stake Drop In Q3: Debt-Free Navratna Stock Sets Record Date For Interim Dividend

As of Thursday's BSE closing session, Engineers India Ltd., a mid-cap building company, has a market valuation of Rs 13,078.73 Cr. The leading international engineering consultation and EPC firm is Engineers India Ltd (EIL). EIL was founded in 1965 and primarily serves the petrochemical and oil and gas sectors with technical consulting and EPC services.

In order to capitalise on its excellent technological capabilities and track record, the company has also diversified into industries including infrastructure, water and waste management, solar & nuclear power, and fertilisers. A Navratna public-sector enterprise of the Indian government, Engineers India Limited (EIL) functions under the Ministry of Petroleum and Natural Gas.

Engineers India Dividend

"The next meeting of the Board of Directors of the Company will be held on Friday, the 2nd February, 2024 at 11:00 a.m. to, 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," said Engineers India in a stock exchange filing.

"Further, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that 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.

The said Interim Dividend shall be paid to those shareholders whose names appear: a) as beneficial owners in the statement(s) furnished by the Depository(ies) as on the close of business hours on Monday, 12th February, 2024 in respect of shares held in electronic form; and b) as members in the Register of Members on Monday, 12th February, 2024 in respect of physical shares," said Engineers India in a regulatory filing.

Engineers India Dividend Yield

Engineers India has announced an equity dividend of 60.00% at a face value of Rs 5 for the fiscal year ended in March 2023, or Rs 3 per share. This generates a dividend yield of 1.29% at the current share price of Rs 232.70.
For the past five years, the firm has regularly distributed dividends and has a strong dividend track record. According to Trendlyne statistics, Engineers India Ltd. has issued 42 dividends since August 30, 2001.

Engineers India Financials

In the September 2023 quarter, the firm had net sales of Rs 777.22 crore, a decrease of 0.61% from Rs. 782.01 crore during the corresponding period in FY23. Its net profit jumped by 20.05% from Rs. 85.14 crore in Q2FY23 to Rs. 102.20 crore in Q2FY24. In the second quarter of the current fiscal year, its EBITDA was Rs. 141.83 crore, up 30.31% from Rs. 108.84 crore in the corresponding period of the previous fiscal year.

Engineers India Shareholding Pattern

During Q3FY24, the company recorded promoters' shareholding of 51.32%, FIIs stake of 7.60%, DIIs stake of 15.51% and public stake of 25.54% compared to 51.32% promoters' stake, 7.88% FIIs stake, 17.18% DIIs stake and 23.60% public stake in Q2FY24.