Last time we discussed the SWOT analysis of Apar Industries which is one of the largest and most renowned manufacturers of conductors, cables, oil and lubricants. This time let’s study the in-depth SWOT analysis of Engineers India.
An Indian government-owned engineering consultancy company – Engineers India is leading its way in providing indigenous technology solutions across hydrocarbon projects. It is an EPC and total solutions Consultancy Organisation.
As we know that behind every business’s success there is a huge contribution of marketing efforts. Marketing has evolved with time and today we are in an age of digital marketing which helps organisations with their marketing efforts using different mediums. If you are interested in understanding digital marketing in detail – check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.
Before we begin with SWOT analysis, let’s know more about the company, the products and services they offer, their financial status and its competitors.
About Engineers India,
Engineers India was incorporated in 1965 as a private limited company under the name Engineers India Private Limited, later on, became a wholly-owned Government of India enterprise. The company provides a wide range of engineering consultancy & EPC services to its clients.
Engineers India has an impressive record of executing over 5000 assignments consisting of 400 major projects valued at over US$200 Billion. Engineers India’s enviable project portfolio consists of Major refinery projects, Mega petrochemical complexes, Oil and Gas processing projects, Offshore platforms, Pipeline projects, Mining & Metallurgy projects, Fertiliser projects, Ports and storage terminals, Infrastructure projects, Turnkey projects.
The headquarters of Engineers India is located in Bhikaji Cama Place, New Delhi and the R&D complex at Gurugram. More than 2400 engineers & professionals work at EIL.
|No. of Employees||2400-2800|
|Market Cap||Rs 3,796.60 Crore (2022)|
|Annual Revenue||Rs 3,104.69 Crore (2021)|
|Net Income/ Profit||Rs 259.5 Crore (2021)|
Services by Engineers India
Engineers India had been in business for over four decades and primarily deals in:
- Process Design
- Supply Chain Management
- Project Management
- Construction Management
Competitors of Engineers India
Engineers India competes on a global level with several other manufacturers, of which its top competitors include:
- Tata Consulting Engineers
- Royal HaskoningDHV
Now that we understand the company’s core business, let’s delve into the SWOT Analysis of Engineers India.
SWOT Analysis of Engineers India
A SWOT analysis evaluates the strengths, weaknesses, opportunities, and threats that a firm faces. Engineers India may evaluate its business and performance against rivals and the industry as a whole using this tried-and-true management model.
It’s a great tool for figuring out where the firm shines, where it falters, devising countermeasures, and figuring out how to expand.
To better understand the SWOT analysis of Engineers India, refer to the infographic below:
So let us start by expanding on the strengths of Engineers India:
Strengths of Engineers India
The distinctive qualities that provide a company with an edge in acquiring greater market share, attracting a larger audience, and maximising profitability are essentially its strengths. The following are Engineers India’s strengths:
- Brand Position: Engineers India Limited is one of India’s leading precision engineering organisations and for the last 55+ years they have been creating high-quality engineering solutions benefiting customers all over the world. The company operates in 9 overseas locations and it has completed 5000+ assignments.
- Service Portfolio: Engineers India is the market leader when it comes to a variety of engineering services. Honestly, the company deals in every nook and corner of engineering services including sectors like Infrastructure, Automobiles, Power, General Engineering, and Building & Construction among others.
- Engineers India’s Trust: Because of its quality services, it is one of the most trusted and famous engineering consultancy not only in India but also throughout the world. At the same time, the association with the name generates enormous brand equity for the company.
- Strong Team of Employees: Engineers India consists of a team of more than 2,800 employees who work rigorously to enable effectiveness in their client’s business and inject technology operation into it.
- High level of Client Satisfaction: Engineers India has a customer-focused approach. It has loyalty programs for its clients. Clients are loyal because of its customer-focused approach. It has a good environment for employees and a shift in culture that is guided by the management.
- Constant Developments: Sify also developed the most extensive range of managed enterprise services, solutions, and applications. With millions of man-hours spent gaining expertise and experience in delivering Internet Protocol-based services, their standards are industry benchmarked and innovation constant.
- Sustainable Development: Engineers India has always been sensitive toward the concerns of society and is committed to operating its core business in a socially responsible way, with a vision of promoting sustainable development. Such dedication and commitment to sustainability show the organisation’s involvement in CSR works.
- Government Support: Engineers India gets immense support and recognition through various awards from the government of India which is why the limited company is still generating revenues in increasing directions.
Weaknesses of Engineers India
Weaknesses are negative aspects and attributes which have little control over. These are the areas where the business needs to improve to remain competitive.
- Dependence on Consultancy: Consultancy is the major source of revenue in Engineers India, despite having different sector works which can be bad for companies long run.
- Investment in R&D: Engineers India has not been able to compete with the leading players in the industry in terms of innovation and R&D. It has come across as a mature firm looking forward to bringing out products based on tested features in the market.
- Innovation: Engineers India has been unable to compete in terms of innovation with the sector’s best businesses despite spending more on research and development than the industry average.
- Strong Government Regulations and Policies: There are strong government rules and regulations that make operational efficiency low and create a hindrance in the working of a company.
- High Cost in Replacement of Established Expertise: Engineers India Ltd’s knowledge base is entrusted to a small number of people, and replacing them will be difficult under the current circumstances.
- Shortage of Technical & Financial Resources: The business has experienced a shortage of technical and financial resources, which has reduced its ability to grow its service locally and globally.
Opportunities for Engineers India
Opportunities refer to the chances of the progress of the company in future. Let’s have a look at the opportunities for Engineers India:
- Expanding Customer Base: Engineers India can gain from the acquisition of smaller consulting and financial companies by expanding its customer base.
- Attract and Retain Talent: Everybody looks forward to working at firms where employees have a good working environment, Engineers India can use it to select the best human resource available.
- Increase in Digitalization: Increase in Digitalization leads to switching traditional businesses to digital businesses thus leading to more clients and opportunities for expanding business.
- Accelerated Technological Innovations & Advances: Rapid technical advancements are increasing industry productivity, allowing suppliers to provide a wider range of products and services. This may enable Engineers India to expand its product portfolio dramatically.
- More Contracts: Engineers India should increase its pace to take more contracts for providing consultancy services. Recently, Bharat Oman Refineries gave a contract for a green hydrogen plant to Engineers India.
Threats to Engineers India
These are the factors that have the potential to harm an organisation. Threats are uncontrollable external factors that might overcome or damage the strength and opportunities.
- Competitors Catching Up: Even though Engineers India continues to dominate the engineering market in product innovation. It is up against severe competition from both foreign and domestic opponents.
- Shortage of Trained Human Resources: Due to significant staff turnover and a growing reliance on new solutions, the firm name may encounter skilled human resource issues in the future.
- Government & Environmental Regulations: The government has slightly different and introduced more strict laws for engineering industries to maintain their control over the consumption of natural resources. While on the other hand organisations concerned about the environment also have their eyes on engineering industries due to their threat to natural resources and the environment.
- Lack of Visibility: Engineers India is not that visible as compared to its competitors in the market, so this leads to a decrease in clients’ reliability.
- Bigger MNCs Entering India: Entering big size multinational companies into the domestic market will lead to grabbing the attention of the clients. Hence, it will be hard for a domestic company to sustain its standing in front of big companies.
This ends our elaborative SWOT analysis of Engineers India. Let us conclude our learning below.
Engineers India is a well-reputed company that is a trusted one among business clients in the world. In the SWOT analysis of Engineers India, we learnt that it has reached the markets of its nation but is still facing the problem of marketing its products internationally due to fewer funds and inefficient financial planning.
With increasing competition in such markets, companies need to do better digital marketing efforts. In today’s world, people need to know more about the marketing aspects used to boost the company’s growth. If you are intrigued with the above piece of information in learning more and upskilling, check out Online Digital Marketing Course by IIDE to know more.
We hope this blog on the SWOT Analysis of Engineers India has given you a good insight into the company’s strengths, weaknesses, opportunities and threats.
If you enjoy in-depth company research just like the SWOT analysis of Engineers India, check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read this, and do share your thoughts on this case study of the SWOT analysis of Engineers India in the comments section below.