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Patel Engineering Results: Latest Quarterly Results & Analysis

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Patel Engineering Ltd. 13 Nov 2025 14:35 PM
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Q2FY26 Quarterly Result Announced for Patel Engineering Ltd.

Construction & Engineering company Patel Engineering announced Q2FY26 results

  • Consolidated Revenue from operations for Q2FY26 stood at Rs 1,208 crore as against Rs 1,174 crore in Q2FY25, a growth of 2.91% on a YoY basis.
  • Consolidated Operating EBITDA for Q2FY26 at Rs 159 crore, a margin of 13.13%.
  • Q2FY26 Consolidated Net Profit stood at Rs 77 crore and total for H1FY26 stands at 152 crore.
  • Received LOA of Rs 240 crore from National Hydroelectric Power Corporation (NHPC) Limited for civil & hydro mechanical works for Package 6 - Teesta-V power station in Sikkim taking the receipt of new orders in H1FY26 to ~ Rs 2,500 crore.
  • Successfully raised NCD of Rs 90 crore through rated, senior secured Non-Convertible Debentures via private placement, reflecting our strong financial position and ability to access capital markets efficiently.

Kavita Shirvaikar, MD, said: "We are pleased to report another quarter of consistent and resilient performance, marked by growth in revenues despite the operational challenges posed by prolonged monsoons across several project sites. This outcome underscores our unwavering commitment to operational excellence, disciplined project execution, and prudent financial management. Our ability to navigate external headwinds while delivering top-line growth reflects the strength of our business model and the dedication of our teams on the ground. The Company continues to benefit from the robust infrastructure momentum across the country, which is creating a fruitful environment for sustainable growth. We are strategically positioned to capitalize on emerging opportunities, supported by a strong order book and a diversified project portfolio. Looking ahead, our focus will remain on enhancing execution efficiencies, expanding our footprint, and creating long-term value for all stakeholders. We are confident that our integrated approach and forward-looking strategy will continue to drive growth and reinforce our leadership in the sector.“

Rahul Agrawal, CFO, said: "We are proud to deliver strong financial results for the quarter, driven by robust execution across our project sites and a disciplined approach to financial management. This performance is a direct result of our focus on revenue growth, cost optimization, and strategic capital allocation. We continue to maintain a balanced and cautious approach to managing costs, optimizing cash flows, and deploying capital efficiently. These efforts have not only strengthened our financial position but also enhanced our ability to invest in future growth. Our priority is to maintain stability while pursuing opportunities that align with our long-term growth strategy."

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Result PDF

Construction & Engineering company Patel Engineering announced Q1FY26 results

  • Consolidated Revenue from operations for Q1FY26 stood at Rs 1,233 crore as against Rs 1,102 crore in Q1FY25, a growth of 11.96% on a YoY basis.
  • Consolidated Operating EBITDA for Q1FY26 stood at Rs 165 crore with a margin of 13.40%.
  • Q1FY26 Consolidated Net Profit increased by 55.89% YoY to Rs 75 crore, a margin of 6.09% from Rs 48 crore, a margin of 4.37% in Q1FY25.
  • EPS improved to Rs 0.92 in Q1FY26 from Rs 0.65 in Q1FY25, reflecting enhanced profitability and operational efficiency.
  • Total Debt has moved from Rs 1,603 crore as of 31 March 2025 to Rs 1,527 crore as of 30 June 2025.

Kavita Shirvaikar, MD, said: “Our performance in Q1FY26 illustrates the company's ability to drive consistent growth while enhancing operational efficiency. With a track record of executing over 350 projects, including several marquee assignments, our execution capabilities have matured significantly, contributing to our strong financial performance. With sectoral tailwinds and a favourable paradigm shift in broader macroeconomic factors, we have successfully secured orders worth ~ Rs 2,250 crore during the quarter and closed with a robust order book of Rs 16,285 crore as of June 30th, 2025. Looking ahead, we are encouraged by the government's continued emphasis on renewable energy and reducing carbon emissions. This reinforces our positive outlook for the sector. We remain confident that our execution strength, combined with sectoral tailwinds, will enable us to grow sustainably and deliver long-term value to all our stakeholders”.

Rahul Agrawal, CFO, said: “Our results for Q1FY26 reflect strong financial performance, characterised by substantial improvements in revenue and net profit, driven by continued discipline in cost management and prudent debt control. Accordingly, the EPS for the quarter has significantly improved from 0.65 in Q1FY25 to 0.92 in Q1FY26. As we look ahead, we remain focused on disciplined capital allocation, maintaining financial rigour, and aligning our investment strategy with long-term shareholder value creation. Our resilient financial foundation and solid order pipeline provide the confidence and capacity to support the next phase of operational expansion and sustainable growth.

Result PDF

Construction & Engineering company Patel Engineering announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Q4FY25 Revenue from Operations at Rs 1,612 crore from Rs 1,343 crore in Q4FY24, up by 20.00% YoY.
  • EBITDA: Rs 218 crore during Q4FY25.
  • EBITDA margin: 13.55 for Q4FY25.
  • Net Profit: Rs 33 crore during Q4FY25.
  • Net Profit margin: 2.03% for Q4FY25.

FY25 Financial Highlights:

  • Consolidated Revenue from operations at Rs 5,093 crore for FY25, up from Rs 4,544 crore in FY24, a growth of 12.09% YoY.
  • Consolidated Operating EBITDA for FY25 increased to Rs 733 crore from Rs 690 crore in FY24, implying 6.21% growth on a Y-o-Y basis.
  • Profit before tax and exceptional items up by 49.38% from Rs 319 crore in FY24 to Rs 477 crore in FY25.
  • FY25 Consolidated Net Profit stood at Rs 242 crore, a margin of 4.75%
  • Demonstrating its ongoing focus on financial discipline, the company successfully brought down its gross debt from Rs 1,886 crore in FY24 to Rs 1,603 crore in FY25.

Kavita Shirvaikar, MD, said: “We are happy to present a strong set of numbers with revenues surpassing Rs 5,000 crore for the first time this year demonstrating the company's ability to drive consistent growth while enhancing operational efficiency. The company has a healthy order book of Rs 15,218 crore as of March 31, 2025 and further have orders of around Rs 2,500 crore which are declared L1 / received subsequently. Looking ahead, we are encouraged by the government's continued emphasis on renewable energy and reducing carbon emissions and their resilient momentum to boost Hydropower, pumped storage and tunneling projects in which we have a strong presence. We remain confident that our execution strength, combined with sectoral momentum, will enable us to grow sustainably and deliver long-term value to all our stakeholders”

Rahul Agrawal, CFO, said: “Our growth in revenues reflect the resilience of our business model, disciplined execution, efficient capital allocation and continued focus on operational excellence. The significant reduction in debt and interest costs for the year has enabled us to improve our credit rating to Agiving confidence to all stake holders. The infrastructure sector has been witnessing tremendous growth in the last few years and we remain optimistic on a bright future ahead for the Company. Our strong financial foundation and solid order pipeline provide the buoyancy and capacity to support the next phase of operational expansion and sustainable growth.

Result PDF

Construction & Engineering company Patel Engineering announced Q3FY25 results

  • Consolidated Revenue from operations for Q3FY25 stood at Rs 12,055 million as against Rs 10,610 million in Q3FY24, a growth of 13.62% on a YoY basis.
  • Consolidated Operating EBITDA for Q3FY25 increased to Rs 1,840 million from Rs 1,421 million in Q3FY24, implying 29.50% growth on a YoY basis.
  • Op. EBITDA Margin for Q3FY25 stood at 15.26% as compared to 13.39% in Q3FY24.
  • Q3FY25 Consolidated Net Profit increased to Rs 804 million from Rs 702 million in Q3FY24.
  • Net Profit Margin for Q3FY25 was 6.67% as against 6.62% in Q3FY24.
  • As of 31st December, 2024 the consolidated gross debt stood at Rs 14,224 million compared to Rs 18,855 million as on 31st March, 2024.
  • EPS improved to 2.46 in 9MFY25 from 2.02 in 9MFY24.

Kavita Shirvaikar, MD, said “It gives me great pleasure to announce our Q3FY25 results, which continue to demonstrate our unwavering momentum and operational excellence, with a 13.62% increase in revenue along with significant profitability gains. These achievements highlight our relentless dedication to creating exceptional value for our stakeholders and our strategic focus on optimizing our project pipeline. We are excited about the future as we continue to execute projects with precision, playing a pivotal role in India's infrastructure development. Looking ahead, we are enthusiastic about enhancing our operational capabilities, expanding our project portfolio, and driving innovation within our industry. The robust foundation we've built over the years fills us with confidence and optimism as we embark on the next phase of growth, consistently delivering outstanding value to our stakeholders.”

Rahul Agrawal, CFO, said: “We are delighted to announce a stellar performance in Q3FY25, marked by substantial gains across the board in Revenue, EBITDA and Net Profit. This quarter's success serves as a testament to our strategic financial management and our commitment to maintaining a strong balance sheet. Our financial health allows us to confidently invest in future promising projects. As we move forward, we are excited about optimizing our capital allocation, adhering to rigorous financial discipline, and ensuring our investments drive long-term value for our shareholders. With a solid financial foundation, we are poised for continued expansion and sustainable growth, paving the way for a prosperous future.”

Result PDF

Construction & Engineering company Patel Engineering announced Q2FY25 results

  • Consolidated Revenue from operations for Q2FY25 stood at Rs 11,743 million as against Rs 10,213 million in Q2FY24, a growth of 14.98% on a YoY basis.
  • Consolidated Operating EBITDA for Q2FY25 increased to Rs 1,622 million from Rs 1,401 million in Q2FY24, implying 15.80% growth on a YoY basis.
  • EBITDA Margin for Q2FY25 stood at 13.81% as compared to 13.71% in Q2FY24.
  • Q2FY25 Consolidated Net Profit increased to Rs 808 million, a margin of 6.88% from Rs 322 million, a margin of 3.15% in Q2FY24.
  • As of H1FY25 the consolidated gross debt stood at Rs 14,377 million compared to Rs 18,855 million as on FY24.
  • EPS improved to 0.87 in Q2FY25 from 0.46 in Q2FY24.

Kavita Shirvaikar, MD said: “Our performance in Q2FY25 highlights continued growth and operational efficiency, with revenue increasing by 14.98% and significant gains in profitability, despite it being a monsoon period. These achievements underscore our unwavering commitment to stakeholder value and our strategic approach in optimizing our project pipeline. Our focus remains on executing projects effectively to contribute to India’s infrastructure growth. Looking ahead, we remain focused on enhancing our operational capabilities, expanding our project portfolio, and driving innovation in our sector. The foundation we have built over the last few years provides us with confidence as we move into the next phase of growth and continue to deliver value for our stakeholders.”

Rahul Agrawal, CFO said: “The quarter has shown substantial financial strength, with improvements in both EBITDA and Net Profit. This growth reflects our disciplined approach to cost and debt management. We have maintained a strong balance sheet, which provides us with the flexibility to invest in highpotential projects and pursue growth opportunities as they arise. Looking forward, we are focused on optimizing capital allocation, maintaining financial discipline, and ensuring that our investment strategy aligns with longterm value creation for our shareholders. Our strong financial foundation gives us confidence as we continue to expand our operations and drive sustainable growth..”

Result PDF

Construction & Engineering company Patel Engineering announced Q4FY24 results:

  • Revenue for Q4FY24 is Rs 1,343.18 crore a growth of 11.46% YoY
  • Operating EBITDA reported at Rs 237.58 crore as compared to Rs 168.95 crore in Q4FY23
  • Net Profit at Rs 123.37 crore as against Rs 84.37 crore in Q4FY23
  • Total Order Book as on 31st March 2024 stands at Rs 18,663 crore

Rupen Patel, Chairman & Managing Director, Patel Engineering Limited said, “Celebrating a triumphant quarter, the company has outperformed expectations with a stellar display of excellence compared to its prior performance. Witnessing substantial revenue growth across all business segments, our recent projects are poised to catalyze a positive shift in our financial landscape. Looking ahead, we are optimistic about sustaining this upward trajectory in the quarters to come within this fiscal year. With a steadfast commitment to nurturing growth in our core EPC operations and seizing opportunities in India's infrastructure development, we aim to enhance stakeholder value over the long term while maximizing output efficiency.”

Commenting on the result, Kavita Shirvaikar, Whole time Director & CFO said, “Marking the dawn of FY24, the company has notched impressive milestones in the last quarter. Bolstered by notable profit gains, we remain resolute in ensuring sustained productivity levels in the times ahead. Our robust financial strides underscore our disciplined cost management ethos and adeptness in capitalizing on emergent prospects. Looking forward, our vision remains bright, fueled by a buoyant outlook on our company's potential, all while intensifying our fiscal strategies for greater resilience in the market.”

Result PDF

Construction & Engineering company Patel Engineering announced Q3FY24 & 9MFY24 results:

Consolidated Q3FY24:

  • Revenue from Operations: Rs 10,610.05 million in Q3FY24 compared to Rs 9,546.30 million in Q3FY23, showing a growth of 11.14%.
  • Operating EBITDA: Rs 1,420.88 million in Q3FY24 compared to Rs 1,401.35 million in Q3FY23, indicating a slight growth of 1.39%.
  • Net Profit: Rs 702.43 million in Q3FY24 compared to Rs 194.82 million in Q3FY23, representing a significant growth of 260.55%.
  • Diluted EPS from continuing operations: Rs 0.87 in Q3FY24 compared to Rs 0.32 in Q3FY23, showing an increase of 55 basis points.
  • Total Order Book as on December 31, 2023 stands at Rs 1,91,347 million (including L1)

Standalone Q3FY24:

  • Revenue from Operations: Rs 10,523.09 million in Q3FY24 compared to Rs 9,293.89 million in Q3FY23, indicating a growth of 13.23%.
  • Operating EBITDA: Rs 1,447.40 million in Q3FY24 compared to Rs 1,307.12 million in Q3FY23, showing a growth of 10.73%.
  • Net Profit: Rs 429.75 million in Q3FY24 compared to Rs 213.97 million in Q3FY23, representing a growth of 100.85%.
  • Diluted EPS from continuing operations: Rs 0.55 in Q3FY24 compared to Rs 0.38 in Q3FY23, showing an increase of 17 basis points.

Consolidated 9MFY24:

  • Revenue from Operations: Rs 32,009.29 million for 9MFY24 compared to Rs 26,860.83 million for 9MFY23, showing a growth of 19.17%.
  • Operating EBITDA: Rs 4,527.18 million for 9MFY24 compared to Rs 3,926.11 million for 9MFY23, indicating a growth of 15.31%.
  • Net Profit: Rs 1,407.29 million for 9MFY24 compared to Rs 704.40 million for 9MFY23, representing a significant growth of 99.79%.
  • Diluted EPS from continuing operations: Rs 2.02 for 9MFY24 compared to Rs 1.19 for 9MFY23, showing an increase of 83 basis points.

Standalone 9MFY24:

  • Revenue from Operations: Rs 31,551.18 million for 9MFY24 compared to Rs 26,249.43 million for 9MFY23, indicating a growth of 20.20%.
  • Operating EBITDA: Rs 4,325.29 million for 9MFY24 compared to Rs 3,644.75 million for 9MFY23, showing a growth of 18.67%.
  • Net Profit: Rs 2,149.97 million for 9MFY24 compared to Rs 717.70 million for 9MFY23, representing a substantial growth of 199.56%.
  • Diluted EPS from continuing operations: Rs 2.72 for 9MFY24 compared to Rs 1.21 for 9MFY23, showing an increase of 151 basis points.

Rupen Patel, Chairman & Managing Director, Patel Engineering said, “Our unwavering commitment to excellence, coupled with our expertise in hydropower and irrigation construction, has enabled us to achieve significant milestones. Our adaptability and resilience are evident in our increased turnover of ~ Rs 3,200 crore in the nine months, marking a 19.17 percent growth as against the corresponding period in the last year. As we move forward, we remain earnest in our vision to deliver comprehensive solutions through our profound experience and technological prowess. We are confident that the forthcoming quarter and the coming years will sustain the company's upward trajectory through various projects, joint ventures, and our commitment towards excellence, quality, performance, and reliability.”

Commenting on the result, Kavita Shirvaikar, Whole-time Director & CFO said, “Patel Engineering's pivotal role in key hydropower projects currently being developed and those already in operation in the country, underscores our commitment to infrastructure development and leadership in the industry. With a focus on prudent financial management, this quarter's achievements reflect optimized resource utilization and sustainable profitability which has increased by 260.55% to Rs 70.24 crore. Our robust order book totaling Rs 19,134.7 crore ensures sustained growth and value creation. We remain steadfast in our resolve to fortify shareholder value through sound fiscal strategies and strategic growth initiatives while contribution to quality advancement in the country rests within our core."

Result PDF

Construction & Engineering company Patel Engineering announced Q2FY24 results:

  • Revenue for Q2FY24 is Rs 10,213.13 million a growth of 23.0% YoY
  • Operating EBITDA for Q2FY24 at Rs 1,400.67 million up by 18.08% as compared to Rs 1,186.16 million in Q2FY23
  • Net Profit for Q2FY24 at Rs 321.98 million up by 63.38% as against Rs 197.07 million in Q2FY23
  • Total order book as of September 30, 2023, stands at Rs 2,00,033 million (including L1)

Rupen Patel, Chairman & Managing Director, Patel Engineering said, “With the substantial investment in infrastructure, the company has recorded impressive progress in the second quarter of FY24. With a surge in revenue and profitability, we've showcased our adaptability and resilience in the face of economic challenges. Our enthusiasm knows no bounds as we embark on India's largest-ever Hydropower Project, The Dibang Hydropower Project while fostering effective collaborations and cooperation. Achieving a turnover of Rs 10,213.13 million, representing an impressive 23.00 percent increase from the previous year, our commitment to sustainable infrastructure development remains unwavering. As we move forward, we remain focused on our vision for sustainable infrastructure development and are excited about the opportunities that lie ahead in terms of various projects and executions. We are confident that the forthcoming quarters and the ongoing financial year will sustain the company's upward trajectory.”

Commenting on the result, Kavita Shirvaikar, Whole-Time Director & CFO said, “The company has achieved significant milestones, underscoring our commitment to financial discipline and strategic decision-making acumen. This quarter's performance is a testament to our effective cost management, optimized revenue generation, and robust profitability. Our current order book stands at 2,00,033 million, encompassing ongoing developments and projects. We extend gratitude to our shareholders and authorities for their continued trust in the company. We remain focused on sustaining this positive momentum, exploring new opportunities, and enhancing shareholder value through the reinforcement of fiscal strategies and the adoption of key growth drivers."

Result PDF

Patel Engineering announced Q1FY24 results:

  • Revenue for Q1FY24 is Rs 11,186.11 million a growth of 24.14% YoY
  • Operating EBITDA reported at Rs 1,705.63 million as compared to Rs 1,338.60 million in Q1FY23
  • Net profit at Rs 382.88 million as against Rs 312.50 million in Q1FY23
  • Total order book as on June 30, 2023, stands at Rs 2,00,142 million (including L1)

Rupen Patel, Chairman & Managing Director, Patel Engineering, said, “The company has exceeded forecasts for the quarter and demonstrated exceptional performance compared to the same period in the previous quarter. All of our business segments experienced significant revenue increases this quarter. The influx of recent projects will contribute significantly towards improvement in the company's overall financial performance. We are confident that the upcoming quarters in the current financial year will maintain the company's upward trend. To help achieve maximum output for the upcoming quarters, we remain focused on sustaining our growth in core EPC business and taking full advantage of the opportunities available towards the development of India’s Infrastructure and thereby improving stakeholder value in the long run.”

Commenting on the result, Kavita Shirvaikar, Whole-time Director & CFO said, “The company has achieved commendable advancements during the first quarter of FY24. It has made substantial strides in terms of profits and we will persist in efficiently delivering and upholding the company's productivity level in the coming future. Our resilient financial performance is a testament to our conscientious approach to cost management and our capacity to seize emerging opportunities. Casting our gaze towards the future, we maintain an optimistic outlook regarding the potential of our company, simultaneously concentrating on fortifying our fiscal strategies."

 

 

Result PDF

Construction & Engineering company Patel Engineering announced consolidated FY23 results:

  • Revenue for FY23 is Rs 42,019.71 million a growth of 24.31% YoY
  • Basic EPS up from Rs 1.51 to Rs 3.19 in FY23
  • Net Profit up by 181.43% at Rs 1,548.06 million as against Rs 550.06 million in FY22
  • Operating EBITDA reported at Rs 6,248.76 million as compared to Rs 5,277.32 million in FY22
  • Total Order Book as on 31st March 2023 stands at Rs 2,08,067 million (including L1) which is at an all-time high

Rupen Patel, Chairman & Managing Director, Patel Engineering, said, “This year has been exciting with new projects coming onboard and taking our order book to an all-time high beyond Rs 2,00,000 million. We have achieved improved revenue and profit figures showcasing the strength and resilience of our business in a competitive environment. I also like to thank all stakeholders for their trust in us on our recent successful Rights Issue. Moving forward we remain committed to achieving exponential developments in the infrastructure segment of the country contributing to the overall economic development.”

Commenting on the result, Kavita Shirvaikar, Director & CFO said, “I am extremely pleased to share the outstanding Q4 & FY 23 results we have achieved. The quarter has been incredible with the winning of water tunnel and irrigation projects in Maharashtra, Karnataka, and Madhya Pradesh. With such a steady stream of orders, we believe our revenue will increase significantly. Also, we continue with our efforts to monetize noncore assets and have reduced debt by more than Rs 5,000 million in FY23 and we expect to continue further reduction in overall debt going forward.”

 

 

Result PDF

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