Very few public sector undertakings (PSUs) have a record as phenomenal as Engineers India (EIL), which has played a significant role in the growth story of hydrocarbon, petrochemical and metallurgy sectors in the country. In the petrochemical segment, EIL has been involved in the setting up of a large number of mega petrochemical complexes in the country. The company has its footprints in 19 of the 22 operating refineries in India with a combined refining capacity of more than 150 million metric tonne per annum (MMTPA). It has also been involved in the establishment of seven of the eight mega petrochemical complexes in the country. In hydrocarbon consultancy, EIL’s endeavors have resulted in India achieving more than 90% indigenisation in terms of technology and around 80% in supplies.
Importantly, EIL’s in-house research and development support has contributed to the consolidation of existing capabilities, development of new technologies and hardware, besides enhancement of the portfolio for special technology-related services. The company has 26 registered patents, as on March 2018, while 24 patent applications are under evaluation. Despite challenges that PSUs have to deal with, EIL has managed to stay debt-free with a healthy earnings growth and a track record of paying dividends consistently.
After a period of turbulence, the relative stability in crude oil prices at $69/barrel level has prompted companies in the Middle East and North Africa region to pursue their planned investments worth $574 billion over the next five years across the hydrocarbon value chain. Also, the general expectations of demand growth for oi