Engineers India has reported its audited financial results for the financial year ended March 31, 2026. The company achieved its highest Profit After Tax (PAT) of ₹638 crore and highest revenue from operations of ₹3,849 crore for the year. The Board of Directors approved the results at their meeting held on May 21, 2026.

Financial Performance

The consolidated net profit for FY26 stood at ₹6,915.89 million, a 19.3% increase from ₹5,797.71 million in the previous year. Revenue from operations rose 27.2% to ₹39,281.80 million from ₹30,875.85 million in FY25. The Earnings Per Share (EPS) on a consolidated basis increased to ₹12.30 from ₹10.32 in the previous year. For the quarter ended March 31, 2026, the consolidated net profit was ₹1,955.34 million.

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹2.50 per share (face value ₹5.00 per share). This is in addition to the interim dividend of ₹2.50 per share already paid during the year. The total dividend for the year amounts to ₹5.00 per share, subject to the approval of shareholders at the Annual General Meeting.

Operational Highlights

Engineers India continues to focus on sunrise sectors such as Biofuels, Green Hydrogen & Ammonia, and Energy Transition. The company reported an order book of ₹15,109 crore, the highest recorded. During the year, the company secured significant orders, including a project management consultancy contract for the Expansion of Integrated Refinery cum Petrochemical Complex in Nigeria.

Financial Results Summary

The following table outlines the key financial metrics for the standalone and consolidated results for the year ended March 31, 2026:

Engineers India Limited reported significant non-compliance with SEBI (LODR) Regulations, 2015, concerning board composition and committee constitution during the financial year ended March 31, 2026. The lapses resulted in monetary penalties levied by the National Stock Exchange of India Limited (NSE) and BSE, totaling ₹30,01,680 across various quarters. The company stated that as a Government Company under the administrative control of the Ministry of Petroleum & Natural Gas, director appointments are made by the President of India, placing the process beyond the control of its Board.

The primary deviation involved Regulation 17(1)(a), which mandates at least one independent woman director, a requirement not met from March 28, 2026, to March 31, 2026. Additionally, Regulation 17(1)(b), requiring half of the board to comprise independent directors in the absence of a regular non-executive chairperson, was not complied with throughout the review period. Consequently, fines were imposed for the quarters ended March 31, 2025, June 30, 2025, September 30, 2025, and December 31, 2025.

Fines Imposed by Stock Exchanges

The following table details the penalties levied by NSE and BSE for the non-compliance of Regulation 17(1) of the SEBI (LODR) Regulations, 2015:

The company has submitted requests to both exchanges to waive off these fines, arguing that the appointment of directors is not within its purview. The stock exchanges, however, advised the company to achieve compliance first before applying for a waiver.

Committee Constitution and Evaluation Gaps

The report also highlighted non-compliance regarding the constitution of key board committees due to the absence of independent directors. The Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee were not properly constituted from November 8, 2024, to March 27, 2025. This led to fines of ₹1,27,440 per exchange for the quarter ended December 31, 2024, for violations under Regulations 18(1), 19(1), 20(2), and 21(2). The Board decided to keep the functioning of these committees in abeyance until independent directors were appointed.

Furthermore, the company did not carry out the performance evaluation of independent directors as required by Regulation 17(10). VAP & Associates, the practicing company secretary, issued an advisory on this matter. The management explained that as a Public Sector Undertaking, directors are appointed by the Government of India, and the company has not laid down criteria for such evaluation, though it provides inputs to the administrative ministry when sought.

Remedial Actions and Compliance Status

Following the appointment of two independent directors on March 28, 2025, the affected committees were reconstituted to meet the quorum requirements. The company affirmed compliance with other regulatory provisions, including Secretarial Standards, maintenance of records, and disclosures on its website. It confirmed that no directors were disqualified under Section 164 of the Companies Act, 2013, and that all related party transactions had prior audit committee approval.