Expo Engineering and Projects Ltd. is an integrated heavy engineering and on-site project company that designs, fabricates and installs process equipment — primarily storage tanks, pressure vessels, heat exchangers and site-fabricated units — serving oil & gas, refineries, petrochemicals and related industries from its Murbad fabrication facility with ASME U & R capabilities.

The company has a meaningful order book of ₹114.63 crore concentrated in storage tanks (98%), and repeated large public-sector wins from IOCL and BPCL validate its execution track record; this backlog roughly equals the company’s FY25 revenue, implying strong near-term revenue visibility if execution proceeds on schedule.

Financially, Expo delivered improving profitability in 9M FY26 with EBITDA of ₹5.44 crore (10.67% margin) and PAT of ₹2.40 crore, driven by cost controls and working capital improvements, despite nine‑month revenue declining 32% YoY — indicating better earnings quality and margin discipline under current management.

Strategically, the company is investing in upgraded manufacturing capability and exploring exotic metallurgy (titanium, nickel) to target higher-value projects, while actively seeking overseas PMC enlistments to expand exports; these moves aim to move Expo from commodity tank fabrication to more specialized, higher-margin engineering solutions.

Key operating strengths include ASME certifications, a large fabrication bay (capacity for equipment up to 120m length and 350 tonnes), a concentrated but sticky client base of marquee oil & gas names, and long experience since 1982, positioning Expo to benefit from India’s planned strategic petroleum reserve expansions and refining capacity growth.