Patel Engineering Limited (PATELENG)

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Patel Engineering Limited (PATELENG) · mywealthgrid

About

Patel Engineering Limited operates in civil construction within the industrials sector. Recent quarterly revenue ranges ₹1,200–1,400 crore with operating margins of 13–15%. With a market cap of ₹2,823 crore and debt-to-equity ratio of 0.27, it is a mid-cap construction contractor.

Face value: ₹1

Market cap

₹2,572 Cr

P/E

9.0×

P/B

0.6×

Dividend yield

ROE

7.2%

ROCE

13.3%

Debt / equity

0.27

OPM

13.4%

EPS (TTM)

₹2.9

Book value

₹44.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatility: Net profit ranges ₹43–98 crore and EPS from ₹0.42 to ₹1.03 across recent quarters; verify project completion-timing risks, cost overrun frequency, and order backlog depth
Weak capital returns: ROE of 7.16% is low relative to typical cost of capital; assess whether returns are constrained by operating-margin sensitivity, asset efficiency, or sector competition
Valuation disconnect: Stock down 21% YTD despite low PE of 9.84 and low debt (D/E 0.27); verify whether discount reflects genuine order-flow or execution concerns versus market-cycle timing
Dividend freeze: No shareholder distributions since 2012; clarify capital allocation strategy—whether cash funds capex, debt reduction, or strategic investment

Generated analysis · source review pending

Growth drivers

Stable quarterly revenue of ₹1,200–1,400 crore signals ongoing project awards; verify order backlog and tender pipeline to confirm whether revenue growth beyond current run-rate is feasible
Operating margins within 13–15% range demonstrate execution capability, though current OPM of 13.41% lags the Mar 2026 high of 15.14%; assess whether the 130-bps decline reflects cyclical margin pressure or structural headwinds
Low D/E ratio of 0.27 enables debt-funded growth capex or acquisitions if management identifies higher-return opportunities; verify capital allocation priorities and capex guidance

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹25.9-2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 23.9% over the last 3 years
+Revenue CAGR of 20.7% over the last 5 years

Cons

−Low return on equity of 7.9% (3-yr avg)
−Promoter holding fell 4.6 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

62/100

Business quality: 32
Growth: 53
Valuation: 99

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,764	3,884	2,275	2,275	2,617	1,995	3,380	4,202	4,544	5,093	5,103
COGS	9	—	—	255	466	459	853	988	905	902	1,282
Gross profit	—	—	—	2,019	2,151	1,536	2,528	3,214	3,639	4,191	3,821
	2,358	3,463	1,744	1,488	1,986	1,319	1,997	2,585	2,948	3,447	3,137
	397	421	531	531	165	217	531	630	691	745	683
OPM %	14.4%	10.8%	23.3%	23.3%	6.3%	10.9%	15.7%	15%	15.2%	14.6%	13.4%
Depreciation	46	78	54	54	66	72	82	93	98	100	104
Interest	629	579	489	489	266	401	420	418	362	322	296
	333	343	379	106	202	-105	86	120	163	15	4
Profit before tax	-39	-71	94	94	35	-362	115	237	394	337	287
Tax	-9	32	-12	-11	23	-71	43	54	104	90	18
Tax %	-23.6%	44.3%	-12.4%	-12.1%	67.8%	-19.6%	37.7%	22.7%	26.3%	26.5%	6.2%
	-30	-103	105	105	11	-291	72	183	290	248	269
PAT margin %	-1.1%	-2.7%	4.6%	4.6%	0.4%	-14.6%	2.1%	4.4%	6.4%	4.9%	5.3%
EPS (₹)	-3.9	-9.8	6.7	6.7	0.4	-6.8	1.5	3.2	3.6	2.9	2.9
EPS adjusted (₹)	-3.9	-3.8	6.1	6.4	0.3	-6.3	1.1	2	3.8	2.9	3
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	16	16	16	41	47	48	77	77	84	99
Reserves	1,913	2,123	2,144	2,260	2,506	2,273	2,336	2,811	3,076	3,700	4,341
Minority interest	95	70	56	57	33	61	71	88	8	—	2
	4,766	4,338	2,872	2,649	2,244	2,266	2,262	1,770	1,910	1,615	1,216
	2,610	3,129	2,327	3,219	3,504	3,440	3,793	4,004	3,924	4,180	3,864
Total equity & liabilities	9,391	9,676	7,414	8,201	8,328	8,087	8,510	8,750	8,996	9,580	9,522
	626	598	526	548	579	683	1,181	1,279	1,291	1,328	1,338
CWIP	971	868	792	1,063	1,141	679	283	294	233	171	126
Investments	176	138	140	116	79	68	82	124	155	181	53
	7,617	8,072	5,956	6,474	6,530	6,658	6,965	7,052	7,317	7,900	8,005
Total assets	9,391	9,676	7,414	8,201	8,328	8,087	8,510	8,750	8,996	9,580	9,522

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Civil Construction	5,098.45	485.45	0	0
Real estate	4.29	-36.46	0	0
others	0	-0.06

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	88.8%	82.2%	77%	74.8%	76.5%	80.1%	82.3%	74.9%
EBITDA margin %	23.3%	7.1%	11.8%	15.6%	14.9%	15.2%	14.4%	13.4%
EBIT margin %	21%	4.6%	8.2%	13.2%	12.7%	13%	12.4%	11.4%
PAT margin %	4.6%	0.4%	-14.6%	2.1%	4.4%	6.4%	4.9%	5.3%
Working capital
Receivable days	139	112	79	61	46	44	54	43
Inventory days	5,066	2,795	2,886	1,537	1,383	1,529	1,775	279
Payable days	2	2	962	567	573	752	857	616
NWC days	5,203	2,904	2,003	1,031	856	822	972	-294
Leverage
Current ratio	1.27	1.24	1.46	1.41	1.46	1.48	1.59	1.45
Debt to EBITDA	4.99	12.11	9.66	4.29	2.83	2.77	2.2	1.78
Debt to equity	1.16	0.88	0.98	0.95	0.61	0.61	0.43	0.27
Interest coverage	1.5	1.2	0.7	1.3	1.6	1.9	2.5	2.5
Asset turnover	0.28	0.31	0.25	0.4	0.48	0.51	0.53	0.54
Return ratios
Return on assets %	1.3%	0.1%	-3.6%	0.8%	2.1%	3.2%	2.6%	2.8%
Return on capital employed %	17.1%	7.5%	6.1%	12.1%	13.5%	13.7%	15.3%	13.3%
Return on equity %	4.6%	0.4%	-12.5%	3%	6.4%	9.2%	6.5%	6.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	39.41%	39.41%	39.41%	36.11%	36.11%	36.11%	36.11%	36.11%	36.11%	31.48%	31.48%	31.48%
	2.36%	2.83%	3.37%	3.69%	3.09%	4.74%	5.01%	2.71%	2.53%	2.52%	2.86%	3.28%
	6.25%	5.59%	4.49%	6.21%	4.44%	4.51%	4.69%	4.91%	4.75%	5.82%	6.17%	4.77%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	47.18%	47.37%	47.93%	49.6%	51.97%	50.25%	49.8%	51.88%	52.22%	56.44%	55.75%	56.73%
No. of shareholders	—	—	—	—	—	—	—	—	4,41,763	4,57,741	4,62,930	4,59,866

Promoter holding down 7.93 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Janky PatelPromoters	SellOff Market	40,800	₹15.9 L	27.52% → 27.52%	29 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

36 deals · 2 Aug 2021 – 8 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
8 Jan 2026	NEOMILE CORPORATE ADVISORY LIMITED	Bulk	NSE	Sell	1,00,77,058	₹28.20	₹28.42 Cr
29 Dec 2025	NEOMILE GROWTH FUND-SERIES I	Bulk	NSE	Sell	2,00,00,071	₹29.05	₹58.10 Cr
29 Dec 2025	NEOMILE CORPORATE ADVISORY LIMITED	Bulk	NSE	Buy	1,08,16,133	₹29.00	₹31.37 Cr
29 Dec 2025	NEOMILE CORPORATE ADVISORY LIMITED	Bulk	NSE	Sell	45,26,188	₹29.05	₹13.15 Cr
24 Dec 2025	LEADING LIGHT FUND VCC - THE VINTAGE	Bulk	NSE	Sell	98,25,409	₹29.76	₹29.24 Cr
24 Dec 2025	NEOMILE CORPORATE ADVISORY LIMITED	Bulk	NSE	Buy	75,01,714	₹29.75	₹22.32 Cr
27 Nov 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	85,08,487	₹37.74	₹32.11 Cr
27 Nov 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	85,04,834	₹37.76	₹32.11 Cr
27 Nov 2025	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	76,48,083	₹37.82	₹28.93 Cr
27 Nov 2025	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	76,48,083	₹37.84	₹28.94 Cr

1–10 of 36

1 / 4

Ms. Janky Rupen PatelNon-Executive - Non Independent Director-Chairperson related to Promoter
Ms. Kavita Sanjiv ShirvaikarExecutive Director-MD
Mr. Kishan Lal DagaExecutive Director
Mr. R V R KishoreExecutive Director
Ms. Jana ChatraNon-Executive - Independent Director
Mr. Shambhu SinghNon-Executive - Independent Director
Ms. Sudha Pravin NavandarNon-Executive - Independent Director
Mr. Rahul AgarwalChief Financial Officer
Mr. Emandi Sankara RaoNon-Executive - Independent Director
Ms. Shobha ShettyCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

0.21%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1,913	0.01	0.01%	0%	+2

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Intimation for revision in credit rating3 Jun 2026

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

2

Analyst / investor meeting28 Sept 2026 · 3 days agomeeting
Analyst / investor meeting29 Sept 2026 · 2 days agomeeting

6

Final dividend1 Oct 2012 · ex-date₹0.3
Final dividend7 Oct 2011 · ex-date₹1
Interim dividend29 Jan 2010 · ex-date₹2
Final dividend20 Jul 2009 · ex-date₹0.95
Dividend dividend28 Jul 2008 · ex-date₹1
Interim dividend29 Oct 2007 · ex-date₹1.3

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

25 announcementsExport CSV

29 Sept 2026, 5:30 pmCompany Update

Outcome Of Investor/Analyst Meet Held On September 29, 2026

General PDF

28 Sept 2026, 3:49 pmCompany Update

Outcome Of Investor/Analyst Meet Held On September 28, 2026

General PDF

22 Sept 2026, 5:55 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

22 Sept 2026, 5:48 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

22 Sept 2026, 11:58 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

18 Sept 2026, 6:58 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

7 Sept 2026, 6:08 pmCompany Update

Outcome Of Investor/Analyst Meet Held On September 7, 2026

General PDF

1 Sept 2026, 10:36 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

Date	Category	Subject	Filing
29 Sept 2026, 5:30 pm	Company Update General	Outcome Of Investor/Analyst Meet Held On September 29, 2026	PDF
28 Sept 2026, 3:49 pm	Company Update General	Outcome Of Investor/Analyst Meet Held On September 28, 2026	PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	88.8%	82.2%	77%	74.8%	76.5%	80.1%	82.3%	74.9%
EBITDA margin %	23.3%	7.1%	11.8%	15.6%	14.9%	15.2%	14.4%	13.4%
EBIT margin %	21%	4.6%	8.2%	13.2%	12.7%	13%	12.4%	11.4%
PAT margin %	4.6%	0.4%	-14.6%	2.1%	4.4%	6.4%	4.9%	5.3%
Working capital
Receivable days	139	112	79	61	46	44	54	43
Inventory days	5,066	2,795	2,886	1,537	1,383	1,529	1,775	279
Payable days	2	2	962	567	573	752	857	616
NWC days	5,203	2,904	2,003	1,031	856	822	972	-294
Leverage
Current ratio	1.27	1.24	1.46	1.41	1.46	1.48	1.59	1.45
Debt to EBITDA	4.99	12.11	9.66	4.29	2.83	2.77	2.2	1.78
Debt to equity	1.16	0.88	0.98	0.95	0.61	0.61	0.43	0.27
Interest coverage	1.5	1.2	0.7	1.3	1.6	1.9	2.5	2.5
Asset turnover	0.28	0.31	0.25	0.4	0.48	0.51	0.53	0.54
Return ratios
Return on assets %	1.3%	0.1%	-3.6%	0.8%	2.1%	3.2%	2.6%	2.8%
Return on capital employed %	17.1%	7.5%	6.1%	12.1%	13.5%	13.7%	15.3%	13.3%
Return on equity %	4.6%	0.4%	-12.5%	3%	6.4%	9.2%	6.5%	6.1%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-48	567	403	836	407	12	537	693	688	363	560
	272	-222	245	-327	-47	84	-144	-217	-132	-15	85
	-311	-343	-578	-513	-367	-11	-340	-536	-429	-283	-516
Net cash flow	-86	2	70	-4	-7	85	54	-60	126	66	129
Free cash flow	46	—	—	—	—	-122	356	509	529	273	450
CFO / Operating profit %	-12%	134.6%	76%	157.4%	219.8%	5.2%	101.8%	110.8%	99.6%	49.6%	81.9%

Patel Engineering Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Upcoming and recent2

Dividends6

Board meetings1

Announcements

Upcoming and recent2

Dividends6

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Civil · revenue

2

6

1

2

6

1