Patel Engineering Limited (PATELENG)
₹24.58 -0.08% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Patel Engineering's revenue was ₹1,281 Cr (+3.8% year on year, -9.9% on the previous quarter), and net profit ₹92.0 Cr (+13.6% year on year); the operating margin was 14.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,281 | +3.8% | -9.9% |
| Operating profit | ₹180 | +8.6% | -16.5% |
| Net profit | ₹92.0 | +13.6% | +109.1% |
| EPS (₹) | 0.98 | +6.5% | +133.3% |
| Operating margin | 14.0% | — | — |
PATELENG delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 49.65% of the PATELENG shares traded on NSE were taken to delivery, against the stock's own 20-session average of 51.86%. That is close to its usual level.
Delivery in the last 5 sessions: 41.2% · 46.4% · 47.4% · 59.0% · 49.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Patel Engineering Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited, the company's Registrar and Share Transfer Agent. It confirms that share dematerialisation requests received during the period were processed and listed on stock exchanges within prescribed timelines. This is a standard regulatory compliance filing with no impact on operations or earnings.
- Compliance certificate submitted under Regulation 74(5) of SEBI (DP) Regulations, 2018
- Covers the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 03, 2026
- Confirms dematerialised securities were confirmed and substituted within prescribed timelines
Patel Engineering Limited reported the completion of an analyst and institutional investor meeting held on September 28, 2026, between 10:00 AM and 12:00 PM IST. The meeting was conducted in physical mode with a group of analysts following a prior intimation on September 22, 2026. The company confirmed that no unpublished price sensitive information (UPSI) was shared during the session. This is a routine post-meeting disclosure pursuant to Regulation 30 of SEBI LODR Regulations.
- Meeting conducted on September 28, 2026, from 10 am to 12 noon IST
- Interaction held via physical mode with a group of analysts
- Follow-up to prior intimation submitted on September 22, 2026
- No unpublished price sensitive information (UPSI) was discussed
Patel Engineering Limited conducted its 77th Annual General Meeting on September 18, 2026, through video conferencing. Shareholders approved all 5 resolutions with the requisite majority, including the adoption of FY26 standalone and consolidated financial statements and the re-appointment of retiring director Ms. Kavita Shirvaikar. Additionally, a special resolution for commission remuneration to Non-Executive Director Ms. Janky Patel was passed, receiving 96.62% overall approval despite 37.49% institutional dissent. Total valid votes polled stood at 34.58 crore across 4,63,604 registered shareholders as of the record date.
- All 5 resolutions passed with requisite majority at the 77th AGM held on September 18, 2026
- Special resolution for commission payment to Non-Executive Director Ms. Janky Patel passed with 96.62% votes in favor
- 37.49% of public institutional votes polled (1.10 crore votes) voted against the director commission proposal
- Total shareholder count as of the record date stood at 4,63,604 with 34.58 crore total votes cast
Patel Engineering Limited reported the conclusion of its virtual group analyst and investor meeting held on September 07, 2026, from 12:00 PM to 1:00 PM IST. The meeting was organised by Valorem Advisors pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015. The company confirmed that only information already available in the public domain was discussed during the session. No unpublished price-sensitive information or new financial targets were disclosed.
- Virtual group analyst/investor meeting concluded on September 07, 2026
- Meeting conducted between 12:00 PM and 1:00 PM IST
- Session was organised by Valorem Advisors
- Only publicly available information was shared during the interaction
Patel Engineering Limited has informed the exchanges that company officials will participate in a virtual meeting with analysts and institutional investors on Monday, September 7, 2026, at 12:00 noon IST. The filing complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No presentation materials, commercial announcements, or specific agenda items were disclosed in the notice. The company maintains an unexecuted order book of Rs 15,217.60 Cr against TTM revenues of Rs 5,150 Cr.
- Virtual analyst/investor meeting scheduled for Monday, September 07, 2026, at 12:00 noon IST
- Meeting subject to rescheduling or cancellation based on exigencies
- Intimation filed pursuant to Regulation 30 of SEBI LODR Regulations, 2015
Patel Engineering Limited has completed the sale of its entire 32% stake (84,95,040 equity shares) in associate company ACP Tollways Private Limited to APCO Infratech Private Limited and others. The company received a total consideration of ₹55 crore against a carrying value of ₹26.02 crore as of March 31, 2026. The divested entity had nil turnover and contributed a net loss of ₹12.73 crore in FY26. The transaction monetizes a non-core, loss-making asset and brings in fresh liquidity.
- Divested 32% equity stake (84,95,040 shares of face value ₹100 each) in ACP Tollways Private Limited
- Total consideration received is ₹55 crore vs carrying value of ₹26.02 crore
- ACP Tollways generated nil turnover and a net loss of ₹12.73 crore as on March 31, 2026
- Sale completed on August 28, 2026 to non-promoter buyer APCO Infratech Private Limited and others
Patel Engineering Limited has submitted its statutory Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 under Regulation 34(2)(f) of SEBI LODR Regulations. The report covers standalone sustainability and governance disclosures, noting that civil engineering and construction accounts for 99.99% of total turnover. The company disclosed a total workforce of 2,061 employees and 11,238 workers across 15 states, alongside 50% female representation on its board of directors. As a mandatory annual compliance filing, it has no direct financial or operational impact.
- Civil Engineering and Construction operations contributed 99.99% of total turnover.
- Reported total workforce of 2,061 employees and 11,238 workers across 15 Indian states.
- Female representation stood at 50% on the Board of Directors (4 of 8) and 40% among KMPs (2 of 5).
- Permanent employee turnover decreased to 13.35% in FY26 from 20.96% in FY25.
- Zero data breaches or consumer privacy complaints recorded in FY 2025-26.
Patel Engineering Limited has issued the notice for its 77th Annual General Meeting scheduled for Friday, September 18, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 audited financial statements, re-appointment of director Ms. Kavita Shirvaikar, and approval of commission up to ₹2.25 crore for Non-Executive Director Ms. Janky Patel. The cut-off date to determine shareholder voting eligibility is September 11, 2026. The filing also encloses the FY26 Annual Report containing consolidated revenue of ₹5,102.74 crore and net profit of ₹269.17 crore.
- 77th Annual General Meeting scheduled for September 18, 2026, at 11:30 AM IST via Video Conferencing
- Cut-off date for remote e-voting set as Friday, September 11, 2026
- Special resolution proposed to approve commission up to ₹2.25 crore to Non-Executive Director Ms. Janky Patel for FY26
- Ordinary resolution proposed to ratify Cost Auditor remuneration of ₹50,000 plus applicable taxes for FY26
- FY26 consolidated revenue from operations reported at ₹51,027.42 million (₹5,102.74 crore)
Patel Engineering published the transcript of its Q1 FY27 earnings conference call. The company reported Q1 FY27 consolidated revenue of Rs 1,281 crore (up 4% YoY) and PAT of Rs 93.5 crore (up 24.5% YoY from Rs 75.1 crore). The consolidated order book stood at Rs 14,636 crore (2.84x TTM revenue), dominated by Hydropower (62%) and Irrigation (17%). Management highlighted ~Rs 9,000 crore in bids under evaluation, a near-term pipeline of ~Rs 60,000 crore, and ongoing efforts to monetize up to Rs 150 crore in land assets.
- Q1 FY27 consolidated revenue grew 4% YoY to Rs 1,281 cr, while PAT increased 24.5% YoY to Rs 93.5 cr
- Order book stood at Rs 14,636 cr as of June 30, 2026, with 62% in Hydropower and 17% in Irrigation
- Bids under evaluation stand at ~Rs 9,000 cr with an identified near-term opportunity pipeline of ~Rs 60,000 cr
- Credit ratings upgraded to 'A stable' (long-term) from 'A-' and 'A1' (short-term) from 'A2'
- Retention money locked on balance sheet stands at Rs 200 to 250 cr, with land monetization targeted up to Rs 150 cr
Patel Engineering has published the audio recording of its investor conference call for the quarter ended June 30, 2026. The call, attended by MD Kavita Shirvaikar and CFO Rahul Agarwal, discussed the company's financial performance following a fiscal year (FY26) where revenue reached 5,102 Cr. The company maintains a significant order book of 15,217.60 Cr, representing approximately 3.04x its FY25 revenue. Management confirmed that no unpublished price-sensitive information was disclosed during the session.
- Audio recording for Q1 FY27 results call made available via public link on August 11, 2026.
- Order book stands at 15,217.60 Cr, providing revenue visibility for over 3 years.
- TTM Revenue reported at 5,102 Cr with an Operating Profit Margin of 13.4%.
- Management confirmed no unpublished price sensitive information (UPSI) was shared during the call.
Patel Engineering has submitted its quarterly statement confirming zero deviation in the utilization of Rs 398.97 Cr raised through its December 2025 Rights Issue. The company has successfully deployed Rs 254.00 Cr toward debt repayment, which accounts for approximately 21.8% of its total debt of Rs 1,164 Cr. The remaining funds were allocated to general corporate purposes (Rs 97.12 Cr) and issue expenses (Rs 47.85 Cr). A minor adjustment of Rs 2.16 Cr was made to general corporate purposes due to lower-than-estimated issue costs.
- Total funds raised through Rights Issue: Rs 398.97 Cr (3,989.68 million)
- Amount utilized for debt repayment: Rs 254.00 Cr (2,540.00 million)
- General corporate purpose utilization: Rs 97.12 Cr (971.23 million)
- Excess issue expense of Rs 2.16 Cr (21.55 million) adjusted against General Corporate Purpose
- Current unexecuted order book stands at Rs 15,217.60 Cr as of March 31, 2025
Patel Engineering reported a strong 24.5% YoY increase in Net Profit to ₹93.5 Cr for Q1 FY27, despite a modest revenue growth of 3.8% to ₹1,280.7 Cr. The company's order book remains robust at ₹14,635.6 Cr, providing a book-to-bill ratio of 2.87x based on TTM revenue. A significant highlight is the credit rating upgrade to 'A' from 'A-' in June 2026, reflecting improved financial stability. However, new order intake during the quarter was relatively low at ₹64.5 Cr compared to previous periods.
- Net Profit (PAT) increased by 24.5% YoY to ₹93.5 Cr in Q1 FY27.
- Total Order Book stands at ₹14,635.6 Cr as of June 30, 2026, covering 2.87x of TTM revenue.
- Long-term credit rating upgraded to 'A' with a Stable outlook in June 2026.
- Monetized a 27-acre non-core land asset for ₹25.6 Cr during the quarter.
- Operating EBITDA margin expanded by 62 basis points YoY to 14.02%.
Patel Engineering reported a 24.49% YoY increase in consolidated net profit to ₹93.48 crore for Q1 FY27, significantly outpacing its modest 3.83% revenue growth (₹1,280.74 crore). The operating EBITDA margin improved to 14.02%, reflecting disciplined cost management. The order book remains robust at ₹14,636 crore, representing approximately 2.87x the TTM revenue, which ensures strong execution visibility. Additionally, the company's long-term credit rating was upgraded to 'A' in June 2026, signaling improved financial stability.
- Consolidated Net Profit rose 24.49% YoY to ₹93.48 crore in Q1 FY27
- Order book stands at ₹14,636 crore as of June 30, 2026, providing ~2.87 years of revenue visibility
- Operating EBITDA margin improved to 14.02% compared to 13.4% in the previous year
- Long-term credit rating upgraded from A- to A in June 2026
- Subansiri Lower Hydropower Project reached a milestone of 1,000 MW operational capacity
Patel Engineering reported a steady Q1 FY27 with standalone revenue growing 4.02% YoY to Rs 1,273.73 Cr. Net profit saw a significant jump of 23.2% YoY to Rs 85.77 Cr, largely driven by a 14.2% reduction in finance costs to Rs 61.01 Cr. The company successfully utilized Rs 90.20 Cr from NCD proceeds for debt repayment (Rs 53.05 Cr) and working capital (Rs 37.16 Cr). While revenue dipped 9.9% sequentially from Q4 FY26, the improvement in interest coverage and profitability margins is a positive sign for the debt-heavy construction firm.
- Revenue from operations increased 4.02% YoY to Rs 1,273.73 Cr from Rs 1,224.49 Cr.
- Net profit for the quarter rose 23.2% YoY to Rs 85.77 Cr compared to Rs 69.61 Cr in Q1 FY26.
- Finance costs decreased by 14.2% YoY to Rs 61.01 Cr, down from Rs 71.10 Cr.
- Security cover for listed NCDs maintained at 2.02x on book value as of June 30, 2026.
- Total expenses were contained at Rs 1,186.28 Cr, representing 93% of revenue versus 95% in the previous year.
Patel Engineering has announced its Q1 FY27 earnings conference call scheduled for August 11, 2026, at 10:00 AM IST. The call will be led by Managing Director Ms. Kavita Shirvaikar and CFO Mr. Rahul Agarwal. Investors will be looking for updates on the execution of the company's substantial Rs 15,217.60 Cr order book, which is approximately 3 times its FY25 revenue. This follows a FY26 performance where the company maintained a 13.4% operating margin.
- Earnings conference call scheduled for August 11, 2026, at 10:00 AM IST
- Management representation includes the Managing Director and Chief Financial Officer
- Company is currently executing an order book of Rs 15,217.60 Cr
- TTM Revenue stands at Rs 5,102 Cr with a PAT of Rs 291 Cr
- Order book provides revenue visibility for approximately 3.04 years based on FY25 figures
Financial Performance
Revenue Growth by Segment
The company achieved approximately INR 1,200 Cr in revenue for Q2 FY26. The order book of INR 15,217.60 Cr is segmented into Hydroelectric (66%), Irrigation (23%), Tunnels (8%), and Roads/Others (3%).
Profitability Margins
The company has maintained sustained profitability margins according to credit rating reports, though specific Gross, Operating, or Net percentage figures for Q2 FY26 were not disclosed.
Capital Expenditure
The company is raising up to INR 398.97 Cr (INR 3,989.68 million) through a Rights Issue of 14,77,65,820 equity shares at INR 27 per share to fund working capital and general corporate purposes.
Credit Rating & Borrowing
The company's credit rating was recently upgraded due to continuous improvement in the scale of operations and a robust order book; specific borrowing cost percentages were not disclosed.
Operational Drivers
Raw Materials
Key raw materials include steel, cement, and aggregates required for heavy civil engineering projects like dams and tunnels; specific cost percentages for each were not disclosed.
Capacity Expansion
Current unexecuted order book stands at INR 15,217.60 Cr as of March 31, 2025, which is 3.04 times the FY25 revenue, providing strong visibility for future execution.
Strategic Growth
Growth Strategy
Growth will be achieved by executing the INR 15,217.60 Cr order book, focusing on high-value hydroelectric and irrigation projects, and strengthening the balance sheet through a INR 398.97 Cr Rights Issue to support working capital needs.
Products & Services
Construction of dams, bridges, tunnels, roads, piling works, industrial structures, and heavy civil engineering for hydro, irrigation, and water supply sectors.
Brand Portfolio
Patel Engineering Limited.
New Products/Services
The company has forayed into urban infrastructure and transport segments to diversify its project portfolio.
Strategic Alliances
Extensive use of JVs including Patel Michigan JV, CICO Patel JV, Patel SEW JV, PATEL-KNR JV, and 19 others to leverage partner expertise and capital.
External Factors
Industry Trends
The industry is shifting toward large-scale renewable energy (hydro) and water security (irrigation) projects; the company is positioned with 89% of its order book in these two growing segments.
Competitive Landscape
The company faces intense competition from both domestic and international infrastructure firms in the heavy civil engineering sector.
Competitive Moat
A 75-year track record (since 1949) and specialized technical expertise in complex tunneling and hydroelectric works create high entry barriers and a durable competitive advantage.
Macro Economic Sensitivity
Highly sensitive to government infrastructure spending and fiscal policies regarding hydroelectric and irrigation projects.
Consumer Behavior
Not applicable as the company primarily serves government and large corporate entities.
Regulatory & Governance
Industry Regulations
Operations must comply with stringent environmental pollution norms, labor laws, and safety standards for heavy civil construction sites.
Taxation Policy Impact
The company is eligible for various special tax benefits under current direct and indirect tax laws as certified by its statutory auditors.
Risk Analysis
Key Uncertainties
Leadership transition following the demise of the former CMD in July 2024 and the impact of climate-related delays (monsoons) on project timelines.
Third Party Dependencies
Significant dependency on Joint Venture partners for the execution of a large portion of the unexecuted order book.
