In a regulatory filing made during market hours today, the company announced: “Oil and Natural Gas Corporation (ONGC) has awarded the project for revamping of SV stations, gas terminal & Kribhco terminal of ONGC, Hazira Plant on EPC reimbursable [open book estimate (OBE)] basis to Engineers India (EIL)."

The total estimated order value is about Rs 837.34 crore with a project completion schedule of about 45 months, the company added.

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.

The scrip fell 2.21% to currently trade at Rs 155.05 on the BSE.