Expo Eng. & Projects

Expo Engineering and Projects reported revenue of Rs 15.01 crore for the September quarter, with EBITDA of Rs 1.66 crore and net profit of Rs 0.74 crore. Its net order book stood at Rs 141.41 crore at the end of September. Fresh work during the quarter included a Rs 15.69 crore crude-oil tank job from Indian Oil at Viramgam, three Bharat Petroleum tank jobs totalling Rs 9.71 crore, two Larsen and Toubro orders totalling Rs 4.37 crore and a revised Rs 8.30 crore order from Zeeco India. The company derived about 95% of FY26 revenue from services and site engineering with the balance from product sales, and recorded net sales of about Rs 68.2 crore in FY26 after Rs 114.7 crore in FY25. First-half revenue was Rs 28.77 crore against Rs 32.85 crore a year earlier, with inventories of Rs 52.51 crore at end-September and negative operating cash flow of Rs 6.03 crore for the half year.

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Expo Engineering and Projects' board approved an amendment to the draft scheme for absorption of Expo Project Engineering Services on September 24, revising the share exchange ratio to 14:1. Under the revised terms, shareholders of the transferor company would receive 14 equity shares of Rs 4 each for every one Rs 10 share held, entailing allotment of 14,00,000 shares. The allotment would take promoter holding to 1,58,56,210 shares representing 57.99% of the expanded 2,73,42,115 share base, with public holding at 42.01%. The board had approved a draft absorption merger on June 30 with a 22:1 exchange proposed. The transferor company reported turnover of Rs 4.42 crore and profit of Rs 0.30 crore in FY26. Expo reported net sales of Rs 68.23 crore in FY26 and revenue of Rs 13.75 crore in the June quarter, with paid-up capital at Rs 10.38 crore across 2.594 crore shares after full warrant conversion in August.

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Expo Engineering and Projects received a ₹3.62 crore work order, inclusive of GST, from Bharat Petroleum Corporation for tank fabrication works for a sustainable aviation fuel project at its Mumbai refinery. The contract was to be executed over 10 months from the purchase order. The award was smaller than the company's usual disclosed orders, which ranged from ₹1.56 crore to ₹44.66 crore in FY25-FY26, with ₹15-30 crore representing the working range. FY26 net sales were ₹68.23 crore, with about 95% coming from services and site engineering.

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Expo Engineering and Projects allotted 18.13 lakh equity shares on conversion of warrants after receiving ₹12.69 crore, including ₹9.52 crore in balance consideration. The shares were issued at ₹70 each to five allottees, including promoter Hasanain Shaukatali Mewawala and Aegis Investment Fund PCC, and ranked pari passu with existing shares. The allotment increased paid-up capital to ₹10.38 crore, comprising 2.59 crore shares, and the company said no warrants remained pending conversion. A tranche of 13.33 lakh promoter warrants had been converted on August 11, completing the broader 31.46 lakh-warrant issue approved in September 2025.

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Expo Engineering and Projects secured a ₹44.66 crore order, including GST, from ONGC for maintenance and inspection of existing floating-roof crude-oil storage tanks at the CPF Gandhinagar facility. It also won a ₹3.74 crore Reliance Industries order for hoppers and three smaller awards worth ₹1.33 crore, while its order book stood at ₹122.90 crore net and ₹144.64 crore gross. For the June quarter, the company reported revenue from operations of ₹13.75 crore, EBITDA of ₹1.65 crore and net profit of ₹0.61 crore. Its FY26 revenue had been ₹68.23 crore, with services and site engineering contributing about 71% of the mix. At 31 March, inventory stood at ₹49.99 crore and short-term borrowings at ₹32.35 crore.

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Expo Engineering and Projects received an ₹18.51 crore work order from Indian Oil Corporation’s Western Region Pipelines division for maintenance and inspection of crude-oil storage tank VT-08 at Viramgam. The contract, inclusive of 18% GST, was received on 10 August and was to be executed over 11 months from site clearance. Expo had disclosed Indian Oil work at Haldia worth ₹14.53 crore and an earlier Indian Oil tank order worth ₹26.10 crore. FY26 revenue was ₹68.23 crore, of which services and site engineering contributed about 71%.

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Expo Engineering and Projects allotted 13,32,856 equity shares to promoter Murtuza Shaukatali Mewawala after receiving ₹6.997 crore, representing the balance 75% payment on the warrants. Priced at ₹70 a share, the conversion took total consideration for the allotment to ₹9.33 crore and lifted paid-up capital to ₹9.65 crore, comprising 2,41,29,256 shares. The company had allotted 31.46 lakh convertible warrants at the same price in September 2025, with 25% payable upfront and the balance on conversion. FY26 revenue was ₹68.23 crore and net profit was ₹1.74 crore.

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Expo Engineering and Projects Ltd said it received a ₹2.24 crore work order from Bharat Petroleum Corporation Limited for installation of internal aluminium floating roofs on two SKO tanks at BPCL's Mumbai refinery in Mahul. The order, inclusive of 18% GST, was received on 4 August 2026 and is to be executed within two months. The contract was awarded in the normal course of business and involves no related-party interest.

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Expo Engineering and Projects Ltd said on Tuesday its board approved a draft scheme to merge privately-held Expo Project Engineering Services Pvt Ltd into the listed company through a share swap deal. Shareholders of the transferor company will receive 22 equity shares of Expo Engineering for every one share held, resulting in an issuance of 2.2 million new shares. The merger brings together two businesses engaged in industrial engineering, fabrication and project management under common promoter control. The transferor reported a net worth of ₹9.01 crore and turnover of ₹4.42 crore for the year ended March 2026, while the listed entity reported a net worth of ₹33.76 crore and turnover of ₹68.22 crore. The scheme is subject to clearances from BSE, SEBI and the National Company Law Tribunal. Upon completion, the promoters' stake in the listed company will rise to about 60.74% from the current 56.95%.

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Expo Engineering and Projects Ltd said on Tuesday it had received a ₹44.67 crore work order from Oil and Natural Gas Corporation Ltd for the maintenance and inspection of floating roof crude oil storage tanks at the CPF Gandhar facility in Gujarat. The contract, awarded to the Mumbai-based engineering firm under a rate contract arrangement, runs for three years from the date of the notice of award. The order, inclusive of 18% GST, was secured in the normal course of business and represents the company's single largest contract win to date. No promoter or related-party interest was involved.

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June 9 (Reuters) - Expo Engineering and Projects Ltd EXPO.BO:

• EXPO ENGINEERING AND PROJECTS - RECEIVES WORK ORDER FROM ONGC WORTH 446.7 MILLION RUPEES

Source text: ID:nBSEBYzJp

Further company coverage: EXPO.BO

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May 19 (Reuters) - Expo Engineering and Projects Ltd EXPO.BO:

• EXPO ENGINEERING AND PROJECTS LTD - RECEIVES WORK ORDER FROM LARSEN TOUBRO WORTH 23.1 MILLION RUPEES

Source text: [ID:]

Further company coverage: EXPO.BO

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April 21 (Reuters) - Expo Engineering and Projects Ltd EXPO.BO:

• EXPO ENGINEERING - RECEIVES WORK ORDER FROM RELIANCE INDUSTRIES JAMNAGAR SITE FOR 37.4 MILLION RUPEES

Source text: ID:nBSE7cDK29

Further company coverage: EXPO.BO

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March 27 (Reuters) - Expo Engineering and Projects Ltd EXPO.BO:

• RECEIVES WORK ORDER FROM INDIAN OIL CORPORATION LIMITED WORTH 72.5 MILLION RUPEES

Source text: ID:nBSE7RGMC5

Further company coverage: EXPO.BO

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Feb 5 (Reuters) - Expo Engineering and Projects Ltd EXPO.BO:

• EXPO ENGINEERING AND PROJECTS LTD - RECEIVES WORK ORDER WORTH 49 MILLION RUPEES

Source text: ID:nBSE64xt9b

Further company coverage: EXPO.BO

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Feb 16 (Reuters) - Expo Gas Containers Ltd EXPO.BO:

• TO CONSIDER FUND RAISING

Source text for Eikon: ID:nBSE3lstr5

Further company coverage: EXPO.BO

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