Engineers India Q4 FY26 results: net profit down 30.1% to ₹195.53 crore, revenue down 8.3%

How did Engineers India perform in Q4 FY26?

Engineers India’s consolidated Q4 FY26 revenue was ₹926.29 crore, down 8.3% from ₹1,010 crore in Q4 FY25 and 23.5% from ₹1,210 crore in Q3 FY26. EBITDA fell to ₹151.82 crore from ₹300.96 crore and ₹352.23 crore in the two comparison quarters, while the margin narrowed to 16.4% from 29.8% and 29.1%.

The company reported a net profit of ₹195.53 crore, compared with ₹279.81 crore in Q4 FY25 and ₹347.17 crore in Q3 FY26. Basic EPS was ₹3.47, against ₹4.98 and ₹6.18 respectively. On a standalone basis, revenue was ₹898.67 crore, down 9.3%, while profit after tax was ₹152.02 crore; profit before tax was ₹243.23 crore.

What changed in Engineers India's costs and profit?

Total expenses rose to ₹785.63 crore in Q4 FY26 from ₹720.45 crore in Q4 FY25, an increase of ₹65.18 crore. Other expenses increased by ₹79.68 crore to ₹513.34 crore, while employee cost fell by ₹14.47 crore to ₹261.13 crore, finance costs fell by ₹0.15 crore to ₹0.35 crore, and depreciation rose by ₹0.13 crore to ₹10.81 crore.

Other income increased by ₹26.29 crore to ₹62.64 crore, but total expenses increased by ₹65.18 crore to ₹785.63 crore. Profit before tax consequently fell by ₹122.83 crore to ₹203.30 crore. Tax fell by ₹37.35 crore to ₹46.47 crore, and there was no exceptional item.

How did Engineers India do in FY26 as a whole?

For FY26, Engineers India reported revenue of ₹3,928.18 crore, up 27.2% from ₹3,087.59 crore in FY25. Total income rose 27.0% to ₹4,123.24 crore, while profit before tax increased 34.4% to ₹847.11 crore.

Net profit for FY26 was ₹691.59 crore, up 19.3% from ₹579.77 crore in FY25, and EPS was 12.3 compared with 10.32. Revenue for the year was ₹3,928.18 crore against ₹3,087.59 crore, while total income was ₹4,123.24 crore against ₹3,247.84 crore.

What do the balance sheet and cash flow show?

As of 31 March 2026, total assets were ₹5,869.44 crore, compared with ₹5,456.74 crore at 30 September 2025, and total equity was ₹3,145.73 crore against ₹2,705.27 crore. Borrowings were unchanged at ₹0.00 crore, while cash was ₹87.79 crore compared with ₹74.23 crore.

For FY26, operating cash flow was ₹319.02 crore, compared with ₹109.23 crore in FY25. Investing cash flow was negative ₹100.90 crore against negative ₹36.09 crore, financing cash flow was negative ₹268.97 crore against negative ₹185.16 crore, and capital expenditure was ₹68.95 crore compared with ₹41.91 crore.

How has Engineers India done over the last 8 quarters?

Revenue peaked at ₹1,210.24 crore in Q3 FY26 and fell to ₹926.29 crore in Q4 FY26, while Q4 FY25 revenue was ₹1,010.23 crore. The latest quarter was therefore below both the preceding quarter and the year-ago quarter.

Net profit peaked at ₹347.17 crore in Q3 FY26 and fell to ₹195.53 crore in Q4 FY26; the highest quarterly profit in the period shown was Q4 FY25 at ₹279.81 crore. The EBITDA margin also declined from 29.1% in Q3 FY26 to 16.4% in Q4 FY26, after reaching 29.8% in Q4 FY25.

Which businesses drove the quarter?

Consultancy & Engineering Projects reported revenue of ₹516.71 crore in Q4 FY26, down 8.0% from ₹561.56 crore in the year-ago quarter, and EBIT of ₹150.01 crore against ₹286.20 crore. The reported EBIT margin was 29.0%.

Turnkey Projects reported revenue of ₹409.58 crore, down 8.7% from ₹448.66 crore, and EBIT of ₹33.10 crore against ₹48.78 crore. The reported EBIT margin was 8.1%.

What else did the company announce?

The board approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026. It also recommended a final dividend of ₹2.50 per share on equity shares for FY26, subject to approval by shareholders at the ensuing Annual General Meeting.

The company also filed investor presentations covering highlights of the quarterly and yearly FY26 results. The filings did not report a fund raise or a new appointment around the result.

What did the auditors point out?

The statutory auditors issued an unmodified opinion on both the standalone and consolidated financial results. The standalone report included an Emphasis of Matter referring to a contractor’s claim of Rs. 40960.75 Lakh and the company’s counter claim of Rs. 12907.15 Lakh in litigation pending before the Supreme Court concerning termination of a contract by the company in 2016.

The auditors also referred to revenue of Rs. 128.91 crores recognised in FY 2024-25 as variable consideration, including Rs. 86.33 crores relating to a job. The report said the related change order had not been formally approved or settled, leaving acceptance and realisation subject to significant uncertainty.

What did Engineers India's management say?

Management said it was maintaining an FY27 total order inflow target of Rs.8,000 crore, compared with FY26 actual order inflow of Rs.7,979 crore, and expected minimum 10-15% revenue growth. The company also maintained guidance for consultancy order inflow CAGR of 15-20% from FY27 onwards, a consultancy EBIT margin range of 20-25% and an LSTK profit margin range of 5-7%.

Management said the order book was Rs.15,109 crore at FY26, while FY26 revenue was Rs.3,849 crore and PAT was Rs.638 crore. It identified delays of more than 2 months in new Middle East project awards, with resolution of the geopolitical situation uncertain within 1-2 months, and said consultancy order inflow could fall below Rs.6,000 crore if conditions did not improve.

How did Engineers India shares react?

Engineers India’s shares fell 1.4% five minutes after the filing, were up 0.1% after 15 minutes and down 0.3% after 30 minutes. On the reaction day, the stock fell 9.5% from its previous close, against a Civil Construction sector median move of 0.0%.

By the next day’s close, the stock was down 3.8% from the pre-results close, compared with a sector median of 0.9%. By the fifth day’s close, it was down 5.3%, while the sector median was down 1.3%. The stock’s excess move was negative 9.5 percentage points on the reaction day, negative 4.7 percentage points by the next day and negative 4.0 percentage points by the fifth day.

Earlier results-day moves were positive on 12 February 2026, 14 November 2025, 29 May 2025, 10 February 2025, 29 October 2024 and 9 August 2024, at 10.4%, 6.1%, 4.7%, 2.0%, 0.4% and negative 3.0%, respectively. The move on 28 May 2024 was negative 2.3%.

How did other Civil Construction companies do?

Eighty-five other Civil Construction companies had filed this quarter. Their median revenue growth was 3.6%, compared with Engineers India’s quarterly revenue decline of 8.3%.

Among the other companies, 28 grew more slowly than Engineers India and 57 grew faster. Of the 77 peers whose profit was compared, 35 reported higher profit.