Patel Engineering Ltd.

•

pateleng.comBSE: 531120NSE: PATELENG

Market Cap₹ 2,691 Cr.

Current Price

High / Low₹ 41 / 22

Stock P/E8.9

Book Value₹ 46

Price to Book0.50

Dividend Yield0.00 %

ROCE10.8 %

ROE6.9 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • EPC: 100.0% • Real Estate: 0.0%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has delivered good sales growth of 24.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.56x)
Company generates healthy free cash flow
Stock looks reasonably valued - P/E of 8.9 is below its historical median
Attractively priced for its growth - PEG of 0.4
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (51.8% of PBT)
Promoter holding has decreased over last 2 years: -4.6pp
Company has a low return on equity of 8.0% over last 3 years
Equity base is being diluted - shares outstanding up 28.2%
Contingent liabilities are large at 65.2% of net worth
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3965.00	32.88	545530.90	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	209.50	48.56	43681.17	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1417.50	21.30	24207.01	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.67	24.90	23757.43	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1296.30	37.02	22268.82	0.23	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	281.90	20.21	15843.97	1.77	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	975.45	26.32	11344.44	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.65	21.31	11159.22	1.60	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	AFCONS	295.00	74.98	10849.65	0.68	30.30	-77.95	2671.00	-20.75	12.88	9.42
10.	KEC	406.15	19.53	10811.71	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	WELENT	765.35	34.66	10593.50	0.39	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	PATELENG	27.12	9.38	2690.69	0.00	98.50	21.69	1280.74	3.83	10.71	14.53

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,091	1,012	1,052	1,257	1,082	1,155	1,187	1,584	1,224	1,198	1,231	1,414	1,274
	938	877	908	1,069	921	1,003	1,011	1,381	1,066	1,047	1,091	1,203	1,186
Operating Profit	152	136	145	188	161	152	175	203	159	151	139	210	87
OPM %	13.96%	13.40%	13.75%	14.92%	14.90%	13.16%	14.78%	12.79%	12.97%	12.60%	11.31%	14.89%	6.87%
	116	30	22	44	51	56	10	-50	31	32	-14	-13	22
Interest	87	90	88	92	84	79	79	76	71	75	67	78	61
Depreciation	22	23	23	29	26	24	24	26	26	28	28	27	28
Profit before Tax	160	52	56	111	103	105	82	50	92	81	31	92	110
Tax %	17.31%	20.01%	24.26%	37.29%	34.01%	22.12%	10.35%	22.15%	24.55%	28.38%	-186.64%	25.62%	21.88%
Net Profit	132	41	43	70	68	82	74	39	70	58	89	68	86
	1.68	0.67	0.55	0.90	0.82	0.98	0.85	0.45	0.82	0.69	1.03	0.69	0.86

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,724	3,610	1,966	2,404	1,587	3,040	3,497	4,111	4,654	4,824	5,116
	2,195	3,154	1,689	2,280	1,419	2,582	2,957	3,491	3,962	4,164	4,528
Operating Profit	529	456	277	125	169	458	540	620	691	659	588
OPM %	19.42%	12.63%	14.09%	5.19%	10.64%	15.05%	15.45%	15.08%	14.85%	13.67%	11.50%
	262	177	202	326	49	93	138	212	67	36	28
Interest	638	536	323	331	369	393	400	357	319	291	281
Depreciation	46	44	41	59	64	68	81	97	99	109	110
Profit before Tax	107	52	115	61	-215	88	198	379	340	296	314
Tax %	61.03%	-13.05%	28.16%	39.26%	35.64%	37.13%	21.55%	24.57%	22.88%	3.85%	4.07%
Net Profit	42	59	83	37	-138	56	156	286	262	285	301
EPS	3.99	3.44	2.97	0.89	-3.23	1.17	2.10	3.69	3.11	2.87	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 25%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 22%

STOCK PRICE CAGR

10 Years:: -6%
5 Years:: 15%
3 Years:: -21%
1 Year:: -25%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 6%
3 Years:: 8%
Last Year:: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	41	47	48	77	77	84	99
	2,167	2,210	2,287	2,528	2,446	2,305	2,780	3,069	3,710	4,379
	5,352	2,984	3,196	2,784	3,336	3,446	2,952	2,898	2,677	2,155
Trade Payables	639	663	884	1,305	1,123	1,256	1,477	1,855	2,099	2,159
	723	900	1,027	715	551	605	795	741	939	718
Total Liabilities	8,898	6,773	7,409	7,373	7,503	7,659	8,083	8,640	9,510	9,510
	293	249	270	301	360	1,070	1,184	1,167	1,179	1,199
Capital Work in Progress	5	2	3	11	5	5	14	63	25	32
	492	495	601	669	654	258	226	234	266	202
	4,259	2,685	2,874	2,824	2,852	2,922	3,259	3,632	908	791
	0	0	0	0	0	0	0	475	678	543
Cash & Bank	52	118	110	107	114	192	171	191	389	478
	3,796	3,225	3,552	3,461	3,517	3,213	3,230	2,879	6,065	6,264
Total Assets	8,898	6,773	7,409	7,373	7,503	7,659	8,083	8,640	9,510	9,510

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	468	227	356	332	254	382	616	454	284	564
Cash from Investing	-30	349	-4	-64	-22	-12	-130	-72	10	33
Cash from Financing	-370	-625	-442	-348	-206	-229	-445	-367	-291	-466
	5	65	-18	-19	13	70	-38	16	3	131

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	2.66	3.76	5.05	0.91	-2.97	1.16	2.01	3.69	3.11	2.87
Book Value (₹)	139.05	141.79	140.22	62.93	53.54	49.09	36.94	40.62	44.89	44.80
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	3.74	4.41	5.03	2.06	-1.41	2.27	2.95	4.78	4.14	3.97
PROFITABILITY
Operating Margin %	33.01%	23.19%	28.65%	18.29%	19.67%	19.49%	19.58%	15.08%	14.85%	13.67%
Net Margin %	1.54%	1.64%	4.22%	1.55%	-8.72%	1.83%	4.45%	6.95%	5.63%	5.91%
ROE %	2.13%	2.68%	3.66%	1.53%	-5.47%	2.29%	5.97%	9.52%	7.56%	6.92%
ROCE %	11.26%	10.43%	9.57%	8.72%	3.47%	11.01%	13.68%	15.86%	12.92%	10.78%
	0.48%	0.75%	1.17%	0.50%	-1.86%	0.73%	1.98%	3.42%	2.89%	3.00%
EFFICIENCY
Debtor Days	29	20	38	40	74	43	43	40	45	46
Inventory Days	558	351	516	433	653	347	323	306	178	64
Payable Days	-1139	151	-2771	4979	-3362	0	-1560	-2023	-2038	-3201
	1726	219	3325	-4507	4089	390	1925	2369	2261	3312
FINANCIAL HEALTH
Debt to Equity (x)	2.05x	1.08x	0.96x	0.74x	0.77x	0.85x	0.54x	0.55x	0.40x	0.25x
Interest Coverage (x)	1.17x	1.10x	1.36x	1.18x	0.42x	1.22x	1.50x	2.06x	2.07x	2.02x
	1.11x	1.24x	1.34x	1.23x	1.39x	1.32x	1.39x	1.45x	1.33x	1.41x
GROWTH
Revenue Growth %	32.16%	32.53%	-45.54%	22.30%	-33.98%	91.51%	15.04%	17.56%	13.18%	3.66%
Operating Profit Growth %	31.77%	-6.89%	-32.73%	-21.95%	-28.99%	89.80%	15.58%	6.48%	23.42%	-9.64%
Net Profit Growth %	239.89%	41.26%	40.27%	-55.15%	-472.36%	140.13%	180.08%	83.59%	-8.19%	8.68%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	83.58%	-15.88%	-7.51%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.43x	12.16x	7.74x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.40x	0.87x	0.50x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.16x	4.94x	3.51x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	36.11	36.11	36.11	36.11	36.11	36.11	31.48	31.48	31.50
	3.68	3.09	4.74	5.01	2.71	2.53	2.52	2.86	3.28
	6.22	4.45	4.51	4.69	4.90	4.75	5.81	6.17	4.76
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	53.99	56.36	54.64	54.19	56.28	56.61	60.18	59.49	60.45

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Patel Engineering Limited has informed the Exchange about Schedule of meet

2026-08-28

Updates

2026-08-28 - Patel Engineering Limited has informed the Exchange regarding the successful completion of disinvestment of 32% in ACP Tollways Private Limited

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Patel Engineering Limited has informed the Exchange about Copy of Newspaper Publication of Notice of AGM to members

2026-08-24

Updates

2026-08-24 - Patel Engineering Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report'.for the FY 2025-26

2026-08-24

Shareholders meeting

2026-08-24 - Patel Engineering Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Patel Engineering Limited has informed the Exchange about Transcript

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Patel Engineering Limited has informed the Exchange about Link of Recording

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Patel Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-10

Monitoring Agency Report

2026-08-10 - Monitoring Agency Report for Right Issue

News

Recent coverage and analyst commentary for PATELENG

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Free 5nance Account

Name

3965.00

32.88

545530.90

0.96

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

209.50

48.56

43681.17

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1417.50

21.30

24207.01

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.67

24.90

23757.43

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1296.30

37.02

22268.82

0.23

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

281.90

20.21

15843.97

1.77

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

975.45

26.32

11344.44

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

IRCON

118.65

21.31

11159.22

1.60

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

295.00

74.98

10849.65

0.68

30.30

-77.95

2671.00

-20.75

12.88

9.42

KEC

406.15

19.53

10811.71

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

WELENT

765.35

34.66

10593.50

0.39

56.36

-44.29

773.72

-8.44

16.44

19.49

PATELENG

27.12

9.38

2690.69

0.00

98.50

21.69

1280.74

3.83

10.71

14.53

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,091

1,012

1,052

1,257

1,082

1,155

1,187

1,584

1,224

1,198

1,231

1,414

1,274

938

877

908

1,069

921

1,003

1,011

1,381

1,066

1,047

1,091

1,203

1,186

Operating Profit

152

136

145

188

161

152

175

203

159

151

139

210

OPM %

13.96%

13.40%

13.75%

14.92%

14.90%

13.16%

14.78%

12.79%

12.97%

12.60%

11.31%

14.89%

6.87%

116

-50

-14

-13

Interest

Depreciation

Profit before Tax

160

111

103

105

110

Tax %

17.31%

20.01%

24.26%

37.29%

34.01%

22.12%

10.35%

22.15%

24.55%

28.38%

-186.64%

25.62%

21.88%

Net Profit

132

1.68

0.67

0.55

0.90

0.82

0.98

0.85

0.45

0.82

0.69

1.03

0.69

0.86

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,724

3,610

1,966

2,404

1,587

3,040

3,497

4,111

4,654

4,824

5,116

2,195

3,154

1,689

2,280

1,419

2,582

2,957

3,491

3,962

4,164

4,528

Operating Profit

529

456

277

125

169

458

540

620

691

659

588

OPM %

19.42%

12.63%

14.09%

5.19%

10.64%

15.05%

15.45%

15.08%

14.85%

13.67%

11.50%

262

177

202

326

138

212

Interest

638

536

323

331

369

393

400

357

319

291

281

Depreciation

109

110

Profit before Tax

107

115

-215

198

379

340

296

314

Tax %

61.03%

-13.05%

28.16%

39.26%

35.64%

37.13%

21.55%

24.57%

22.88%

3.85%

4.07%

Net Profit

-138

156

286

262

285

301

EPS

3.99

3.44

2.97

0.89

-3.23

1.17

2.10

3.69

3.11

2.87

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,167

2,210

2,287

2,528

2,446

2,305

2,780

3,069

3,710

4,379

5,352

2,984

3,196

2,784

3,336

3,446

2,952

2,898

2,677

2,155

Trade Payables

639

663

884

1,305

1,123

1,256

1,477

1,855

2,099

2,159

723

900

1,027

715

551

605

795

741

939

718

Total Liabilities

8,898

6,773

7,409

7,373

7,503

7,659

8,083

8,640

9,510

293

249

270

301

360

1,070

1,184

1,167

1,179

1,199

Capital Work in Progress

492

495

601

669

654

258

226

234

266

202

4,259

2,685

2,874

2,824

2,852

2,922

3,259

3,632

908

791

475

678

543

Cash & Bank

118

110

107

114

192

171

191

389

478

3,796

3,225

3,552

3,461

3,517

3,213

3,230

2,879

6,065

6,264

Total Assets

8,898

6,773

7,409

7,373

7,503

7,659

8,083

8,640

9,510

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

468

227

356

332

254

382

616

454

284

564

Cash from Investing

-30

349

-4

-64

-22

-12

-130

-72

Cash from Financing

-370

-625

-442

-348

-206

-229

-445

-367

-291

-466

-18

-19

-38

131

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

2.66

3.76

5.05

0.91

-2.97

1.16

2.01

3.69

3.11

2.87

Book Value (₹)

139.05

141.79

140.22

62.93

53.54

49.09

36.94

40.62

44.89

44.80

Dividend per Share (₹)

0.00

Cash EPS (₹)

3.74

4.41

5.03

2.06

-1.41

2.27

2.95

4.78

4.14

3.97

PROFITABILITY

Operating Margin %

33.01%

23.19%

28.65%

18.29%

19.67%

19.49%

19.58%

15.08%

14.85%

13.67%

Net Margin %

1.54%

1.64%

4.22%

1.55%

-8.72%

1.83%

4.45%

6.95%

5.63%

5.91%

ROE %

2.13%

2.68%

3.66%

1.53%

-5.47%

2.29%

5.97%

9.52%

7.56%

6.92%

ROCE %

11.26%

10.43%

9.57%

8.72%

3.47%

11.01%

13.68%

15.86%

12.92%

10.78%

0.48%

0.75%

1.17%

0.50%

-1.86%

0.73%

1.98%

3.42%

2.89%

3.00%

EFFICIENCY

Debtor Days

Inventory Days

558

351

516

433

653

347

323

306

178

Payable Days

-1139

151

-2771

4979

-3362

-1560

-2023

-2038

-3201

1726

219

3325

-4507

4089

390

1925

2369

2261

3312

FINANCIAL HEALTH

Debt to Equity (x)

2.05x

1.08x

0.96x

0.74x

0.77x

0.85x

0.54x

0.55x

0.40x

0.25x

Interest Coverage (x)

1.17x

1.10x

1.36x

1.18x

0.42x

1.22x

1.50x

2.06x

2.07x

2.02x

1.11x

1.24x

1.34x

1.23x

1.39x

1.32x

1.39x

1.45x

1.33x

1.41x

GROWTH

Revenue Growth %

32.16%

32.53%

-45.54%

22.30%

-33.98%

91.51%

15.04%

17.56%

13.18%

3.66%

Operating Profit Growth %

31.77%

-6.89%

-32.73%

-21.95%

-28.99%

89.80%

15.58%

6.48%

23.42%

-9.64%

Net Profit Growth %

239.89%

41.26%

40.27%

-55.15%

-472.36%

140.13%

180.08%

83.59%

-8.19%

8.68%

0.00%

83.58%

-15.88%

-7.51%

VALUATION

P/E (x)

0.00x

15.43x

12.16x

7.74x

P/B (x)

0.00x

1.40x

0.87x

0.50x

Dividend Yield %

0.00%

0.00x

8.16x

4.94x

3.51x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

36.11

31.48

31.50

3.68

3.09

4.74

5.01

2.71

2.53

2.52

2.86

3.28

6.22

4.45

4.51

4.69

4.90

4.75

5.81

6.17

4.76

Government

0.00

53.99

56.36

54.64

54.19

56.28

56.61

60.18

59.49

60.45

Patel Engineering Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

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Patel Engineering Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI