Engineers India gained 1.79% to Rs 59.85 after the company said it is appointed as project management consultant (PMC) by Nayveli Lignite Corporation for lignite to methanol project.
The project constitutes 1,200 TPD lignite to methanol at Nayveli in Tamil Nadu. This project is expected to be commissioned in 2027.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 centre.
As of 31 March 2022, the Government of India held 51.32% stake in the company.
On a consolidated basis, EIL reported 217.4% jump in net profit to Rs 79.13 crore on 27.7% decline in net sales to Rs 817.80 crore in Q4 FY22 over Q4 FY21.
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