The board of Engineers India
, at its meeting held on Friday, approved its unaudited financial results for the quarter ended December 2018 and declared an interim dividend of Rs3.25 per share on the face value of Rs5.
The company announced the news via an exchange filing on Saturday afternoon. Despite the news, shares of Engineers India dipped 2% in intraday trade on Monday.
“The record date for interim dividend 2018-19 has been fixed as Monday, February 18, 2019, the company mentioned in the exchange filing.
The filing also mentioned that interim dividend for the financial year 2018-19 on the equity shares of the company shall be payable on and from Friday, February 22, and within 30 days from the date of declaration of dividend as provided in the companies Act, 2013.
EIL has a strong order book of ~Rs11,000cr, giving it revenue visibility for the next four years. The capital expenditure of oil marketing companies (OMC) is expected to increase over FY18-20E, reflecting in the strong order pipeline.
Engineers India Ltd is currently trading at Rs108.70 down by Rs1.8 or 1.63% from its previous closing of Rs110.50 on the BSE.
The scrip opened at Rs111 and has touched a high and low of Rs111.60 and Rs106.30 respectively. So far 10,29,108 (NSE+BSE) shares were traded on the counter.