Engineers India Soars on Q3 FY26 Earnings and Africa Gains

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Engineers India Limited may do well in near future as India’s ties with African nations gain strategic depths

By S. JHA

Mumbai, February 13, 2026 — Shares of Engineers India Limited (EIL) settled with gains of over 10 percent on Friday. The stock had during the day soared by over 16 percent. On a day when the markets tanked, the PSU stock rose after declaring Q3 FY26 results.

Brokerages have raised outlook for the stock. The PSU company is engaged in international turnkey projects. Analysts raised hopes that the company may do well in near future as India’s ties with African nations gain strategic depths.

“EIL reported a sharp improvement in its Q3 FY26 performance, with revenue from operations rising 58.3% YoY to ₹1,210 crore (consolidated). EBITDA surged to ₹352 crore from ₹98 crore in Q3 FY25, with EBITDA margin expanding significantly to 29.1% from 12.8% YoY,” said ICICI Direct in a research note.

The brokerage house also stated that “profit After Tax (PAT) surged 225% YoY to ₹305 crore (up from ₹93.7 crore), primarily due to a one-time ₹226.5 crore adjustment from the settlement of a turnkey project following mechanical completion.”

“The company’s overseas inflows gained traction, highlighted by a $360 million order from Nigeria’s Dangote Group. As of December 2025, the company’s total order book stands at ₹12,537.9 crore,” it added.

The brokerage firm also stated that “EIL’s Q3FY26 performance was strong, largely due to a one-off turnkey project settlement that boosted revenue and margins, resulting in an elevated EBITDA margin of 29.1%.” “While a better project mix and a higher share of consultancy work (which typically carries 25–28% margins) support structural margin stability, sustaining current margin levels will depend on normalization of turnkey profitability and consistent execution,” it added.

The analyst at the brokerage firm stated that “sustained execution, conversion of international orders and maintaining a balanced consultancy–turnkey mix will be key to preserving profitability” for EIL.

(Disclaimer: This article makes no recommendation for buy or sell of shares of any company.)