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Engineers India hosted a conference call on August 10, 2017 to discuss the performance of the company for the quarter ended June 2017.
Key takeaways of the call
Order backlog as end of June 2017 was Rs 7698 crore compared to Rs 7761 crore as end of March 2017.
Expects order inflow of about Rs 2300-2400 crore compared to an order intake of about Rs 5708 crore in FY17.
Fiscal start margin guidance of 25% for Consultancy and Engineering Projects business and 5-7% for Lumpsum Turnkey projects stays.
Expect the Consultancy and Engineering Projects to register a growth of 10% for current fiscal.
Contribution to revenue/topline from new projects will kick in from Q3FY2018/ Q4 FY2018 onwards.
Employee cost - On account of wage revision the company made a provision of Rs 38.09 crore and of which Rs 13 crore pertains to earlier years.
Target to complete the wage negotiation by end of current calendar year.
Cash on hand/bank is about Rs 2500 crore. The company is in the process of buy back of equity shares not exceeding 41961780 equity shares representing 6.23% of total number of equity shares at a price of Rs 157 per equity share. Amount earmarked for buyback is Rs 658.84 crore.
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