2:1 Split, Rs 3 Dividend: Navaratna PSU Set For Dividend On May 28, Shares Gain 171%

Multibagger Navratna PSU Engineers India Ltd shares hit 52-week high in trade today after the company informed about its upcoming meeting of Board of Directors to consider dividend and financial results. Last trading price of Engineers India share on BSE is Rs 272.75 per share with intraday gain of 1.60%. Engineers India shares offered return of 11% in last 1-week and 171% in last 1-year. LIC has 3.122% stake in Engineers India. More details below:

Engineers India To Consider Results, Dividend: As per the BSE filing of the company dated May 21, "In continuation to our letter dated 17.05.2024 regarding notice of Board Meeting which is scheduled to be held on Tuesday, the 28th May, 2024. In the said meeting, the Board, inter-alia, may also consider the Recommendation of final dividend, if any, on the equity shares of the Company for the financial year 2023-24."

Engineers India Share Performance & Return: The 52-week high price of Engineers India shares on BSE is Rs 277.00 per share (as on 21/05/2024) and 52-week low price is Rs 99.55 per share (as on 22/05/2023). Engineers India has a market capitalisation of Rs 15,329.71 crore. Engineers India shares gave return of 50% year-to-date, soared 87% in last 6-months, and jumped massively by 358% in last 2-years span only. In last 3-years, Engineers India stock gave shareholders return of 237%. EIL shares surged 142% in last 5-years.

Change Of Directorate: The company on May 15 issued a BSE filing informed change in directorate. It stated, "Shri Arun Kumar was appointed as Director (Government Nominee) w.e.f. 14.05.2024 (date of allotment of DIN)."

Engineers India Dividend History: Engineers India announced 42 dividends since August 30, 2001.In last 1 year, EIL declared an equity dividend amounting to Rs 3.00 per share. At current share price of Rs 272.75, Engineers India offers a dividend yield of 1.10%.

Engineers India Stock Split History: EIL split face value once since May 6, 2010. iT last split face value of its shares from Rs 10 to Rs 5 in 2010.The share traded ex-split on May 6, 2010, according to Trendlyne.

Engineers India Bonus History: The PSU offered shareholders 2 bonus issues since May 6, 2010. Last Bonus that Engineers India Ltd declared was in the ratio 1:1 with ex-date fixed as December 30, 2016.

Engineers India Financials: The company declared its revenue from operation surged by 3.02% to Rs 867.64 crore for the December quarter from Rs 842.18 crore declared in the similar quarter of last year. Meanwhile, profit before tax jumped by 3.52% year on year (YoY) to Rs 71.44 crore for the quarter ended December 31, 2023. Its revenue from Consultancy & Engineering Projects surged 2.37% YoY to Rs 370.37 crore and income from Turnkey Projects was at Rs 497.27 crore, up 3.52% YoY.

The company declared that for 9M FY24, its consolidated net profit rose 111.24% YoY to Rs 329.73 crore. Revenue surged marginally to Rs 2475.72 crore in 9M FY24 from Rs 2450.04 crore declared in 9M FY23, according to the company's BSE filing.

LIC Reduced Stake In EIL: It is worth noting here that Life Insurance Corporation of India (LIC) trimmed stake in Engineers India by approximately 2% through open market in November 2023. LIC divulged in its BSE filing dated November 23, 2023 that it has sold 1.14 crore shares of the PSU during the period from February 2, 2021 to November 22, 2023 at an average price of Rs 118.08 apiece. Consequently, LIC's entire stake in Engineers India fell to 3.122% from the earlier 5.155%.

About Engineers India: Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. Engineers India Ltd (EIL), a Navratna PSU, is one of the leading design and engineering organizations in South Asia, according to its Linkedin profile.

Disclaimer: The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.