ENGINEERS INDIA LTD (ENGINERSIN): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹299.35 latest close · +26.0% over the last 90 sessions

₹299.35 month-end · +52.1% over 12 months

₹299.35 month-end · +102.9% over 3 years

₹299.35 month-end · +165.9% since Jan '19

52-week range ₹163.55 to ₹321.40 · 1-year volatility 46.9%

Was the rally earned?

1 year3 years5 years

+52%share price, 1 yearEarnings-driven

Mostly yes.

Per-share earnings added 43 points to the rise, while the multiple moved less (P/E 20.0x to 21.4x).
The share count barely moved.

Net profit growth+43 ptsNet profit rose about 42%, which lifts the price.

P/E change+9 ptsThe P/E rose from 20.0x to 21.4x, which lifts the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

+103%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 119 points, but investors now pay less per rupee of profit (P/E 24.0x to 21.4x), which took 16 points back.
The share count barely moved.

Net profit growth+119 ptsNet profit rose about 127%, which lifts the price.

P/E change-16 ptsThe P/E fell from 24.0x to 21.4x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

+318%share price, 5 yearsEarnings-driven

Mostly yes.

Per-share earnings added 255 points to the rise, while the multiple moved less (P/E 16.2x to 21.4x).
The share count barely moved.

Net profit growth+255 ptsNet profit rose about 215%, which lifts the price.

P/E change+63 ptsThe P/E rose from 16.2x to 21.4x, which lifts the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with LARSEN AND TOUBRO

How rough has the ride been?

Maximum drawdown-59.9%recovered 2023-07

1-year volatility46.9%annualised

Beta vs sector index1.213-year daily, correlation 0.57

Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-59.9% (2019-05 peak to 2020-03 low, recovered 2023-07)

-49.4% (2024-07 peak to 2025-03 low, recovered 2026-09)

-33.3% (2024-02 peak to 2024-03 low, recovered 2024-05)

Most recent volume spikes

2026-11-02: 11x the 50-day median, price +15.0% that day

2026-10-08: 5.2x the 50-day median, price -6.3% that day

2026-09-28: 5x the 50-day median, price -0.6% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

21.4xP/E todayWithin its usual range

Against its own history61st percentile

CheapestMedian 20.0xDearest

Usual range 11.3x to 32.1x since 2019-01.

Against Industrial Services21.4x vs 14.0x

This company

21.4x

Sector median

14.0x

53% above the Industrial Services median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Industrial Services is valued

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE86thflat vs a year ago
Op. margin56th▲ 24 pts vs a year ago
Revenue growth55th▲ 10 pts vs a year ago
EPS growth77thflat vs a year ago
Debt/equity ↓95th▲ 3 pts vs a year ago
Cash cycle ↓66th▲ 4 pts vs a year ago
P/E ↓28th▼ 17 pts vs a year ago
12M momentum92nd▲ 17 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~21%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 38.2x, a holder earning 12%/yr needs earnings to grow about 20.7%/yr for 10 years, then trade at 15x.

Delivered8.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap+11.8 ptsimplied minus delivered

Rank284thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	22.0%	23.1%	24.2%
15x	19.7%	20.7%	21.8%
20x	16.6%	17.7%	18.7%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 20.7%/yr

Looking back

Jan 2020Price implied 9%/yr; EPS has since grown 11%/yr (7.0 yrs)
Jan 2021Price implied 5%/yr; EPS has since grown 11%/yr (6.0 yrs)
Jan 2022Price implied 3%/yr; EPS has since grown 23%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹299.35
P/E: 21.4x
ROCE: 30.0%
Market Cap: ₹16815 cr
Revenue (TTM): ₹3877 cr
P/S: 4.3x
P/B: 5.3x
ROE: 24.9%
Operating Margin: 15.0%
Debt / Equity: 0.0x
Promoter Holding: 51.3%
12M Momentum: 52.1%

52-week range

₹163.55₹321.40

86% of the way from its 52-week low to its high

Price risk

1Y volatility

46.9%

Beta vs sector

1-year daily

1.09

Balance sheet & cash

Interest cover

operating profit ÷ interest

100.0x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.38x

low

Share count, 1Y

unchanged

Are profits backed by cash?

4 of 6checks within range1 beyond a threshold

Other income reliance32%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 32.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 23.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.38xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.38x (cash from operations ₹658 cr, net profit ₹1,717 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+5 daysWithin range

Debtor days are above the median of the previous three fiscal years by 5 days (45 vs 40). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress9% of fixed assetsWithin range

Capital work-in-progress is 9% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, FIIs added 1.6 pts; DIIs trimmed 1.3 pts.
The number of shareholders rose from 2.9 lakh to 3.9 lakh (+35%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters51.3%51.3%0.0 pts

FIIs7.6%9.2%+1.6 pts

DIIs15.5%14.2%-1.3 pts

Public and others25.5%25.2%-0.3 pts

Number of shareholders

3.9 lakhshareholders+35% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−5.2%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like ENGINEERS INDIA LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −23% to +32% vs the market, against −3% for all non-financial companies in the same months.
The gap against the base rate (−2.1%, 80% range −11.7% to +2.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median

−5.2%

All companies' median

−3.1%

Beat the market

44% vs 47%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
BDL Electronic Technology	Jul 2020	13x	31%	+31%	−10%	−30%
VOLTAMP Producer Manufacturing	Aug 2024	46x	32%	+145%	−3%	−40%
VESUVIUS Non-Energy Minerals	Apr 2024	43x	26%	+169%	0%	+1%
BEL Electronic Technology	Mar 2020	10x	30%	−20%	−38%	−7%
MAZDOCK Producer Manufacturing	Apr 2024	42x	33%	+211%	−4%	+156%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
OFSS Technology Services	Feb 2024	34x	35%	+154%	−3%	+9%
GRSE Producer Manufacturing	Jun 2020	15x	22%	+74%	−11%	−42%
TDPOWERSYS Producer Manufacturing	Jun 2025	45x	30%	+41%	−8%	+147%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, P/E and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to ENGINEERS INDIA LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

ZENSAR TECHNOLOGIESZENSARTECH

Technology Services

75%similar

operating marginEPS growth

BIRLASOFTBSOFT

Technology Services

69%similar

revenue growthoperating margin

FORCE MOTORSFORCEMOT

Consumer Durables

67%similar

P/EROCE

AVANTI FEEDSAVANTIFEED

Process Industries

64%similar

debt/equityP/E

JAMNA AUTO INDUSTRIESJAMNAAUTO

Producer Manufacturing

63%similar

revenue growthP/E

VA TECH WABAGWABAG

Industrial Services

54%similar

revenuemarket cap

POWER MECH PROJECTSPOWERMECH

Industrial Services

41%similar

P/EROCE

TECHNO ELECTRIC AND ENGINEERINTECHNOE

Industrial Services

40%similar

EPS growthrevenue

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jul '23

2026
NovPriceVolume reached 11.0x its 50-day median on 2026-11-02; price +15.0% that day.
SepPriceRegained the 2024-07 peak, 18 months after the low.
SepPeer rankMoved into the top quartile of Industrial Services on EPS growth (from the 2nd quartile).
SepPriceVolume reached 29.9x its 50-day median on 2026-09-01; price +6.9% that day.
JunPeer rankSlipped to the 2nd quartile of Industrial Services on operating margin (from the top quartile).
AprPriceVolume reached 7.0x its 50-day median on 2026-04-17; price +5.9% that day.
MarPeer rankMoved into the top quartile of Industrial Services on operating margin (from the 3rd quartile).
FebPriceVolume reached 84.3x its 50-day median on 2026-02-13; price +11.5% that day.

Show 22 earlier events

2025
DecInstitutionsFII + DII holding rose 3.2 pts over 2 quarters to 20.7%.
NovPriceVolume reached 7.3x its 50-day median on 2025-11-17; price +2.4% that day.
SepResultsRevenue (TTM) reached a new high of ₹3,334 cr.
SepPeer rankSlipped to the 3rd quartile of Industrial Services on operating margin (from the top quartile).
SepPriceVolume reached 6.4x its 50-day median on 2025-09-09; price +2.4% that day.
JunPeer rankMoved into the top quartile of Industrial Services on ROCE (from the 2nd quartile).
MayPriceVolume reached 12.6x its 50-day median on 2025-05-30; price +5.6% that day.
MarInstitutionsFII + DII holding fell 3.7 pts over 2 quarters to 17.5%.
MarPriceFell 49% from the Jul 2024 peak to the Mar 2025 low.
2024
NovPriceVolume reached 5.4x its 50-day median on 2024-11-27; price +9.7% that day.
SepPeer rankSlipped to the 3rd quartile of Industrial Services on EPS growth (from the 2nd quartile).
JulValuationP/E crossed above the 90th percentile of its own history to date (33.1x).
JulPriceVolume reached 7.9x its 50-day median on 2024-07-11; price +10.7% that day.
JunPeer rankSlipped to the 2nd quartile of Industrial Services on ROCE (from the top quartile).
MayPriceRegained the 2024-02 peak, 2 months after the low.
MarPriceFell 33% from the Feb 2024 peak to the Mar 2024 low.
JanValuationP/E crossed above the 90th percentile of its own history to date (38.0x).
JanPriceVolume reached 10.7x its 50-day median on 2024-01-02; price +8.5% that day.
2023
DecPriceRegained the 2023-09 peak, 2 months after the low.
NovPriceVolume reached 11.2x its 50-day median on 2023-11-10; price +6.5% that day.
OctPriceFell 28% from the Sep 2023 peak to the Oct 2023 low.
JulPriceRegained the 2019-05 peak, 40 months after the low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	21.4x	₹3877 cr	24.9%	30.0%	0.0x
2026-10	18.0x	₹3877 cr	24.9%	30.0%	0.0x
2026-09	22.2x	₹3877 cr	24.9%	30.0%	0.0x
2026-08	21.3x	₹3927 cr	22.0%	30.0%	0.0x
2026-07	18.1x	₹3927 cr	22.0%	30.0%	0.0x
2026-06	19.5x	₹3927 cr	22.0%	30.0%	0.0x
2026-05	16.8x	₹4011 cr	29.0%	29.0%	0.0x
2026-04	18.2x	₹4011 cr	29.0%	29.0%	0.0x
2026-03	13.2x	₹4011 cr	29.0%	29.0%	0.0x
2026-02	23.2x	₹3566 cr	20.1%	29.0%	0.0x
2026-01	18.0x	₹3566 cr	20.1%	29.0%	0.0x
2025-12	21.1x	₹3566 cr	20.1%	29.0%	0.0x
2025-11	20.0x	₹3334 cr	20.8%	29.0%	0.0x
2025-10	20.5x	₹3334 cr	20.8%	29.0%	0.0x
2025-09	19.6x	₹3334 cr	20.8%	29.0%	0.0x
2025-08	19.2x	₹3088 cr	21.8%	29.0%	0.0x
2025-07	20.7x	₹3088 cr	21.8%	29.0%	0.0x
2025-06	23.4x	₹3088 cr	21.8%	29.0%	0.0x
2025-05	31.1x	₹2883 cr	18.6%	22.0%	0.0x
2025-04	24.2x	₹2883 cr	18.6%	22.0%	0.0x
2025-03	21.7x	₹2883 cr	18.6%	22.0%	0.0x
2025-02	22.8x	₹2986 cr	16.5%	22.0%	0.0x
2025-01	26.0x	₹2986 cr	16.5%	22.0%	0.0x
2024-12	27.6x	₹2986 cr	16.5%	22.0%	0.0x
2024-11	28.4x	₹3087 cr	17.7%	22.0%	0.0x
2024-10	27.5x	₹3087 cr	17.7%	22.0%	0.0x
2024-09	29.9x	₹3087 cr	17.7%	22.0%	0.0x
2024-08	27.5x	₹3281 cr	19.8%	22.0%	0.0x
2024-07	33.1x	₹3281 cr	19.8%	22.0%	0.0x
2024-06	31.7x	₹3281 cr	19.8%	22.0%	0.0x
2024-05	40.3x	₹3330 cr	17.6%	24.0%	0.0x
2024-04	39.7x	₹3330 cr	17.6%	24.0%	0.0x
2024-03	32.8x	₹3330 cr	17.6%	24.0%	0.0x
2024-02	34.0x	₹3330 cr	17.6%	24.0%	0.0x
2024-01	38.0x	₹3330 cr	17.6%	24.0%	0.0x
2023-12	27.8x	₹3330 cr	17.6%	24.0%	0.0x
2023-11	24.0x	₹3330 cr	17.6%	24.0%	0.0x
2023-10	20.1x	₹3330 cr	17.6%	24.0%	0.0x
2023-09	23.9x	₹3330 cr	17.6%	24.0%	0.0x
2023-08	25.0x	₹3330 cr	17.6%	24.0%	0.0x
2023-07	25.8x	₹3330 cr	17.6%	24.0%	0.0x
2023-06	18.7x	₹3330 cr	17.6%	24.0%	0.0x
2023-05	44.7x	₹2913 cr	7.9%	25.0%	0.0x
2023-04	33.4x	₹2913 cr	7.9%	25.0%	0.0x
2023-03	30.0x	₹2913 cr	7.9%	25.0%	0.0x
2023-02	28.8x	₹2913 cr	7.9%	25.0%	0.0x
2023-01	35.3x	₹2913 cr	7.9%	25.0%	0.0x
2022-12	31.8x	₹2913 cr	7.9%	25.0%	0.0x
2022-11	32.4x	₹2913 cr	7.9%	25.0%	0.0x
2022-10	28.3x	₹2913 cr	7.9%	25.0%	0.0x
2022-09	25.7x	₹2913 cr	7.9%	25.0%	0.0x
2022-08	27.4x	₹2913 cr	7.9%	25.0%	0.0x
2022-07	27.0x	₹2913 cr	7.9%	25.0%	0.0x
2022-06	23.0x	₹2913 cr	7.9%	25.0%	0.0x
2022-05	14.1x	₹3144 cr	14.2%	25.0%	0.0x
2022-04	14.5x	₹3144 cr	14.2%	25.0%	0.0x
2022-03	14.5x	₹3144 cr	14.2%	25.0%	0.0x
2022-02	13.9x	₹3144 cr	14.2%	25.0%	0.0x
2022-01	15.7x	₹3144 cr	14.2%	25.0%	0.0x
2021-12	15.8x	₹3144 cr	14.2%	25.0%	0.0x

Older months are in the live observatory.

Methodology and data notes