Patel Engineering Ltd
Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works in areas like hydro, irrigation & water supply, urban infrastructure and transport. [1]
- Market Cap ₹ 5,031 Cr.
- Current Price ₹ 65.0
- High / Low ₹ 79.0 / 19.4
- Stock P/E 25.0
- Book Value ₹ 38.2
- Dividend Yield 0.00 %
- ROCE 13.7 %
- ROE 6.93 %
- Face Value ₹ 1.00
Pros
- Debtor days have improved from 62.1 to 46.2 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 2.70% over last 3 years.
- Contingent liabilities of Rs.3,080 Cr.
- Promoters have pledged 88.7% of their holding.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -16.8%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Construction Industry: Construction
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,592 | 4,115 | 3,701 | 3,415 | 4,041 | 3,884 | 2,275 | 2,362 | 2,617 | 1,995 | 3,380 | 4,202 | 4,406 | |
3,131 | 3,554 | 3,234 | 2,919 | 3,642 | 3,463 | 1,743 | 1,985 | 2,432 | 1,750 | 2,850 | 3,577 | 3,784 | |
Operating Profit | 461 | 561 | 467 | 496 | 399 | 421 | 531 | 377 | 185 | 244 | 530 | 625 | 622 |
OPM % | 13% | 14% | 13% | 15% | 10% | 11% | 23% | 16% | 7% | 12% | 16% | 15% | 14% |
91 | 79 | 99 | 131 | 41 | 165 | 106 | 247 | 202 | -115 | 83 | 119 | 123 | |
Interest | 333 | 437 | 438 | 516 | 602 | 579 | 489 | 370 | 266 | 401 | 420 | 418 | 373 |
Depreciation | 89 | 77 | 82 | 80 | 55 | 78 | 54 | 50 | 66 | 72 | 82 | 93 | 89 |
Profit before tax | 130 | 126 | 46 | 32 | -216 | -71 | 94 | 204 | 55 | -344 | 112 | 233 | 283 |
Tax % | 46% | 41% | 46% | 69% | 9% | -45% | -12% | 22% | 43% | 21% | 39% | 23% | |
70 | 74 | 25 | 10 | -196 | -103 | 105 | 154 | 11 | -291 | 72 | 183 | 232 | |
EPS in Rs | 2.65 | 2.59 | 0.60 | 0.31 | -7.10 | -1.82 | 1.85 | 2.61 | 0.18 | -4.16 | 1.00 | 2.37 | 3.00 |
Dividend Payout % | 3% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 0% |
5 Years: | 13% |
3 Years: | 17% |
TTM: | 16% |
Compounded Profit Growth | |
---|---|
10 Years: | 11% |
5 Years: | -1% |
3 Years: | 342% |
TTM: | 53% |
Stock Price CAGR | |
---|---|
10 Years: | 2% |
5 Years: | 29% |
3 Years: | 82% |
1 Year: | 227% |
Return on Equity | |
---|---|
10 Years: | 2% |
5 Years: | 3% |
3 Years: | 3% |
Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 8 | 8 | 8 | 16 | 16 | 16 | 41 | 47 | 48 | 77 | 77 |
Reserves | 1,550 | 1,621 | 1,785 | 1,885 | 1,705 | 2,123 | 2,144 | 2,260 | 2,506 | 2,273 | 2,336 | 2,811 | 2,875 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
2,838 | 3,475 | 4,478 | 5,163 | 5,395 | 4,982 | 2,910 | 2,698 | 2,296 | 2,296 | 2,292 | 1,770 | 2,005 | |
1,797 | 1,920 | 2,337 | 2,183 | 2,404 | 2,555 | 2,344 | 3,226 | 3,485 | 3,471 | 3,835 | 4,092 | 3,720 | |
Total Liabilities | 6,192 | 7,023 | 8,608 | 9,239 | 9,512 | 9,676 | 7,414 | 8,201 | 8,328 | 8,087 | 8,510 | 8,750 | 8,678 |
635 | 715 | 674 | 658 | 622 | 629 | 556 | 578 | 607 | 683 | 1,181 | 1,294 | 1,228 | |
CWIP | 418 | 536 | 786 | 982 | 837 | 868 | 792 | 1,063 | 1,141 | 679 | 283 | 294 | 295 |
Investments | 99 | 113 | 134 | 182 | 164 | 138 | 140 | 116 | 79 | 68 | 82 | 124 | 126 |
5,040 | 5,659 | 7,014 | 7,417 | 7,889 | 8,040 | 5,926 | 6,443 | 6,501 | 6,658 | 6,965 | 7,037 | 7,029 | |
Total Assets | 6,192 | 7,023 | 8,608 | 9,239 | 9,512 | 9,676 | 7,414 | 8,201 | 8,328 | 8,087 | 8,510 | 8,750 | 8,678 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
548 | -1 | -362 | -1 | -48 | 567 | 403 | 836 | 407 | 389 | 514 | 693 | |
-227 | -168 | -377 | -244 | 272 | -222 | 245 | -327 | -47 | 7 | -121 | -217 | |
-230 | 177 | 614 | 229 | -311 | -343 | -578 | -513 | -367 | -311 | -340 | -536 | |
Net Cash Flow | 91 | 8 | -125 | -16 | -86 | 2 | 70 | -4 | -7 | 85 | 54 | -60 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 104 | 92 | 53 | 61 | 46 | 24 | 39 | 35 | 46 | 79 | 61 | 46 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 104 | 92 | 53 | 61 | 46 | 24 | 39 | 35 | 46 | 79 | 61 | 46 |
Working Capital Days | 239 | 251 | 304 | 358 | 363 | 339 | 379 | 349 | 306 | 539 | 303 | 232 |
ROCE % | 11% | 12% | 8% | 8% | 7% | 8% | 11% | 10% | 6% | 6% | 12% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Qualified Institutional Placement
2d - Allotment Committee of the Board at its meeting held today, inter alia, passed and approved following: 1. Authorised the opening of Issue today i.e April …
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Announcement under Regulation 30 (LODR)-Meeting Updates
2d - Of approval of the un-audited special purpose condensed interim consolidated financial statements of the company for the nine months period ended on December 31, 2023
- Regulation 40(9) & 40(10) - Certificate From Practicing Company Secretary For The Year Ended March 31, 2024. 15 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended March 31, 2024
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Compliance Certificate For The Period Ended March 31, 2024
4 Apr - Compliance certificate pursuant to Regulation 7(3) of SEBI (LODR) Regulations, 2015 for the period ended March 31, 2024.
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from nse
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Financial Year 2010
from bse
Concalls
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Feb 2024Transcript PPT REC
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
Overview[1]
Patel Engineering Limited, founded in 1949 and headquartered in Mumbai, is a prominent player in civil engineering construction. The company holds a strong presence in various high-margin, technology-intensive areas like hydro, tunnelling, irrigation, water supply, urban infrastructure, and transport. It has executed 250+ projects. Patel Engineering Limited is involved in Hydropower, Irrigation and tunneling segments which constitute 90% of their orderbook.