Engineers India shares touched a fresh 52-week high of Rs 301.90 on Tuesday after bagging a $450 million Dangote Group order.

The reason for the move is straightforward. In an exchange filing, Engineers India, a Delhi-based Navratna PSU, said it has signed a contract agreement valued at more than $450 million, or close to Rs 4,300 crore.

Under the deal, the company will take on the role of Project Management Consultant and EPCM consultant for a greenfield refinery and petrochemical plant that Dangote is setting up in Kenya.

Once operational, the plant is expected to process 700,000 barrels of crude a day. This is not the first time the two companies have worked together.

Engineers India previously served in a similar consulting role on Dangote’s 650,000 BPD refinery and petrochemical complex at the Lekki Free Zone in Nigeria, a project that was later expanded to handle 1.4 million barrels per day.

So this Kenya deal builds on an existing relationship rather than starting one from scratch. The order also lands close on the heels of some strong numbers.

Just four days earlier, on September 18, Engineers India reported FY26 turnover of Rs 3,849 crore and a net profit of Rs 638 crore, its highest ever. Chairman and Managing Director Atul Gupta flagged this as a record year for the company.

Its order book stood at Rs 15,109 crore at the end of FY26, built on order inflows of Rs 7,978 crore during the year, while operating margin improved to 16.22% from 14.76% the previous year.

The stock has been on a strong run through this stretch. It’s up more than 55% over the last six months and over 40% in the past year.

As things stand at 14:23 pm on Tuesday, Engineers India shares were trading at Rs 292.95 on the NSE, a gain of 2.70% for the day.

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