BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Engineers India Ltd.'s Q3 FY21 revenue was above our estimate, with the beat entirely owing to higher revenue in the Turnkey segment.
Operating profit came in 24% lower than our estimate, owing to an adverse revenue mix (57% share of Turnkey segment revenue) and lower margin owing to higher provisioning on a YoY basis.
The buyback proposal for acquisition of 69.9 million shares (approximately11% of total shares) at Rs 84 per share began on December 22, 2020 and is expected to be completed by Feb. 5, 2021.
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