In an exchange filing made after market hours yesterday, the company announced that NALCO has selected EIL for providing consultancy services for updation of detailed project report (DPR) for Pottangi Bauxite Mines for enhancing raw-ore production. The contract has to be executed within a period of 10 months and the contract value is Rs 5.05 crore.

The company further stated that it has also signed a contract with JSPL for supply of basic engineering and detail engineering for direct reduced iron plant covering associated facilities at Angul, Orissa. The contract has to be executed within a period of 20 months and the contract value is Rs 15.50 crore.

Engineers India (EIL) is an engineering consultancy and technology licensing company in the fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other sectors of industry, having a DSIR-recognized R&D center. As of 31 March 2023, the Government of India held a 51.32% stake in the company.

The company's consolidated net profit surged 140.3% to Rs 190.18 crore in Q4 FY23 as compared with Rs 79.13 crore in Q4 FY22. Net sales rose 7.6% year on year to Rs 880.10 crore in Q4 FY23.