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Patel Engineering Ltd share Price Today

Company details

63.95
65.90
17.70
79.00
6M Return 38.35%
1Y Return 252.88%
Mkt Cap.(Cr) 4,982.09
Volume 6,828,120
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 6,828,120

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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."

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Patel Engineering Ltd shares SWOT Analysis

Strengths (11)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Company with high TTM EPS Growth
  • Companies with rising net profit margins - quarterly as well as TTM basis

Weakness (2)

  • Declining Net Cash Flow : Companies not able to generate net cash
  • Companies with High Promoter Pledge

Opportunity (3)

  • Negative to Positive growth in Sales and Profit with Strong Price momentum
  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (0)

Data not found

Resistance and support

R1 64.7
R2 65.8
R3 66.9
Pivot

63.63

S1 62.6
S2 61.5
S3 60.4
EMA SMA
60.6
61.5
60.3
54.2
59.9
63.3
62.6
56.0
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
HRTI PRIVATE LIMITED Bulk Purchase 2024-02-12 68.71 3936008 NSE
HRTI PRIVATE LIMITED Bulk Sell 2024-02-12 68.77 3867827 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-12-11 66.04 5449586 NSE
Name Category Shares
Patel Rupen Pravin PROMOTER 3.98%
Raahitya Constructions Private Limited PROMOTER 30.04%
Praham India Llp PROMOTER 5.2%

OUR RESEARCH VIEW

Investment recommendation
Huge Opportunity ahead …
Call Date
22 Apr 2024
Entry Price 59.00
Target Price 80.00
Duration
12 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Patel Engineering Ltd Stocks COMPARISON

Financials( in Cr) Patel Engineering Ltd Macrotech Developers Ltd NCC Ltd Mahindra Lifespace Developers Ltd National Standard (India) Ltd
Price 64.40 1,246.35 251.00 666.15 4,899.95
% Change 1.18 0.91 1.76 1.12 1.05
Mcap Cr 4,982.09 123,944.02 15,758.96 10,325.99 9,799.90
Revenue TTM Cr 4,201.97 9,470.40 15,553.41 606.61 17.35
Net Profit TTM Cr 178.80 489.50 646.21 102.83 8.25
PE TTM 24.50 71.80 23.01 375.11 0.00
1 Year Return 252.88 174.63 117.13 78.64 -6.57
ROCE 10.64 8.82 19.70 1.69 5.02
ROE 6.78 10.57 10.98 1.42 3.43
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 2,887.96 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 19,463.02 -6,228.06
LAST 3M 77,954.71 28,409.22
LAST 6M 138,694.84 74,737.91
LAST 12M 215,251.82 194,497.84

Patel Engineering Ltd Information

Stock PE (TTM)
24.5
Promoter Holding
39.41%
Book Value
38.168
ROCE
10.64%
ROE
6.78%
Description
  • Patel Engineering Limited (PEL) wet its feet in the industry during the year 1949. PEL is a dynamic and progressive Indian Engineering company committed to providing the entire range of civil engineering services involved in the design, construction of Power Houses, Hydroeletric Projects, Commercial Building, Industrial Complexes, Dams, Tunnels, Underground Structures, Steel and Concrete Structures, Bridges, Marine Works, Flyovers and National Highways in India and abroad. ISO 9002: 2000 certification Company and access to internationally renowned Licensors & Contractors make it the ideal engineering solutions partner for a wide spectrum of services covering a variety of industries. During the year 1993-94, the company had commenced production in plastic products through its subsidiary ENPRO. In the period of 1997-98, the company had entered into joint ventures with ENERGOPROJECT, Yuguslavia. PEL had established a separate entity in the year 1999-2000 in the name and style of ASI Civil Constructors under the laws of the state of California as a regular corporation with a fiscal year end of March 31st- ASI RCC, Inc., purchased all of the stock of this entity for $ 80,000 cash. In the same year 1999-00, the company had assigned 4A 3(best) rating by the world renowned Dun & Bradstreet with 16 times the market`s capitalization. PEL had achieved a break-through in highways and road projects. In 2001 the company had been accredited with ISO 9002 certification. The Company had secured contract for construction of India`s first "Roller Compacted Concrete" Dam for the Ghatghr Hydro Electric project in the year 2002 and also in same year, PEL had incorporated a wholly owned subsidiary in USA under the name of Patel Engineering Inc to protect the parent company in India against all claims, litigations that may emanate in the executed projects overseas. Totally 5,418 kms of the National Highway Development project had been completed as of 31st January of the year 2005. In the year 2006-07 alone, PEL had incorporated 18 subsidiaries, out of that; two companies namely Patel KNR Infrastructure Pvt Ltd and Patel Engineering Pvt Ltd were incorporated as a special purpose vehicle. In December of the year 2007, it bagged an order worth Rs 1,188.5 million for double lake tapping and other civil works of Koyna Dam Foot Power House for the Water Resources Department, Government of Maharashtra. During the year 2007-08, the company acquired 51% stake in Michigan Engineers (Michigan), a Mumbai based urban Infrastructure Company and 96% stake in Patel Energy, which entered into an MOU with Gujarat Power Corporation, Government of Gujarat for establishing a 1,200 MW imported coal-based power project at Ghogha, Bhavnagar. In June of the year 2008, the company bagged the USD 280 million Taum Sauck upper reservoir dam reconstruction project, the largest RCC dam in Missouri, USA. Patel Engineering is planning to increase its presence in export markets especially in USA and Africa and has lined up Rs 4 billion for its expansion plan, which would be invested over the next two years into equipment and allied areas to strengthen its overseas operations. The company is already having a subsidiary, ASI Contractor Inc., in the US through which it implements projects in the region. During the year 2008-09, 37 subsidiaries were incorporated, 13 in India and 24 in abroad. The company acquired 100% stake in Friends Nirman Pvt. Ltd., in West Bengal; it acquired 90% stake in Naulo Nepal Hydro Electric Pvt. Ltd., a company incorporated in Nepal for two hydro power projects aggregating to 56.6 MW. The Company reduced its holdings from 60% to 48% in Patel KNR Infrastructures Pvt. Ltd. and Patel KNR Heavy Infrastructures Pvt. Ltd. Consequently, both the Companies cease to be its subsidiary. Further, the Company made disinvestments in 12 wholly owned subsidiaries, acquired by Associate Company, Enpro Ltd. The Company structured business activities into verticals such as urban infrastructure, roads, development, power, mining (other than civil engineering) through its direct subsidiaries. Accordingly, some of the direct subsidiary became step down subsidiary. In 2012, the Company completed over 33 micro tunneling projects in India and the USA, completed construction of two road projects on annuity basis, namely KNT - 1 & AP - 7 in the state of Karnataka and Andhra Pradesh; launched 4 projects in excess of 2.4 million square feet and commenced its construction at site. In the power sector, the company along with two other consortium partners, acquired a company named, Raichur Sholapur Transmission Company Ltd from REC Transmission Project Company Ltd. in July, 2012. In 2013, the Company commenced work for 450MW Shongtong - Karcham Hydroelectric project which costed Rs 10,400 million. Along with other JV partners, the Company completed a BOT project from Uttar Pradesh State Highways Authority (UPSHA) for construction of four-lane highway project in Varanasi - Shaktinagar Road which costed Rs 17,500 million. It commenced construction of 144 MW Gongri project in Arunachal Pradesh in the hydro power segment. During the year 2013-14, Company completed of 765 kv S/C Transmission lines under SPV viz Raichur Sholapur Transmission Company Limited in which Company held 33.34%. In 2014-15, Patel Engineering Inc, the wholly owned subsidiary of the Company in USA acquired 100% stake in ASI Global LLC, USA. The Company increased its holding in Shreeanant Construction Pvt. Ltd from 51% to 100%. The Company`s holding in Pan Realtors Private Ltd. (PAN) got reduced from 51% to 36.43 % on account of non-subscription to the Rights Issue offered by PAN. It launched Neotownon 103 acres in Bangalore; development of Residential Project at Gachibowli, Hyderabad named as Smondo Gachibowli on 4 acres of land comprising of 2 residential tower and a service apartment being developed by PBSR Developers Pvt. Ltd. (100% subsidiary of PRIL). The Company through its wholly owned subsidiary Patel Realty (India) Ltd (PRIL) was formed to develop 103 acres of Electronic City land in Bangalore. It handed over 2,000 apartments and is developing a Mall through a SPV Bellona Estate Developers Ltd (over 12 acres land for 1.20 million sq feet). Patel Realty (India) Limited, a wholly owned subsidiary of the Company was amalgamated with the Company vide. Order of National Company Law Tribunal (NCLT), Mumbai Bench dated July 06, 2017.The Appointed date of the merger is April 01, 2016. Step down subsidiaries VIZ. Nirman Construction Pvt. Ltd and Azra Land Projects Pvt. Ltd were sold to reduce the debt of the Company and resultant, these companies ceased to be the subsidiaries effective from December 27, 2016. Pursuant to the Agreement of Merger, the three entities Westcon Micro tunneling Inc, ASI RCC Inc and Patel Engineering Inc, USA companies merged into a single corporation with Patel Engineering Inc as the surviving corporation effective from March 31, 2017. All three corporations were formed under the laws of the State of Colorado, USA. The purpose of the merger was to consolidate assets, eliminate the inter-company debts, and reduce the operating expenses of the companies. The Company incorporated Hampus Infrastructure Private Limited during the year 2017-18. ASI Constructors Inc (ASI) disinvested its stake in Engineering and Construction Innovation Inc (ECI) as a part of closure of operations upon substantial asset sale. Terra Land Developers Limited ceased to be an associate Company w.e.f December 27, 2018 on account of disinvestment. During 2021-22, Apollo Buildwell Private Limited and Naulo Nepal Hydro Electric Private Limited ceased to be subsidiaries of Company on account of sale/disinvestment.

Registered Address

Patel Estate Road, Jogeshwari (West), Mumbai, Maharashtra, 400102

Tel : 91-22-26767500
Email : investors:pateleng.com; shobha.shetty:pateleng.com
Website : http://www.pateleng.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 531120
NSE Code : PATELENG
Book Closure Date (Month) :
BSE Group : A
ISIN : INE244B01030

FAQ’s on Patel Engineering Ltd Shares

You can buy Patel Engineering Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Patel Engineering Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Apr 24, 2024 02:39 PM the closing price of Patel Engineering Ltd was ₹ 64.40.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 24, 2024 02:39 PM, the market cap of Patel Engineering Ltd stood at ₹ 4,982.09.

The latest PE ratio of Patel Engineering Ltd as of Apr 24, 2024 02:39 PM is 24.5

The latest PB ratio of Patel Engineering Ltd as of Apr 24, 2024 02:39 PM is 0.60

The 52-week high of Patel Engineering Ltd share price is ₹ 79.00 while the 52-week low is ₹ 17.70

According to analyst recommendations, Patel Engineering Ltd Share has a “Buy” rating for the long term.

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