Patel Engineering

₹29 -0.5 | 1.7%

WEBSITE BSE:531120 NSE : PATEL ENGG. 09 Jun, 14:23

Market Cap ₹2243 Cr.

Stock P/E 10.1

P/B 0.8

Current Price ₹29

Book Value ₹ 37.3

Face Value 1

52W High ₹31.5

Dividend Yield 0%

52W Low ₹ 13.1

Edit Ratio

Patel Engineering Research see more...

Recent project wins and increased government support should help Patel Engineering Limited

Overview Inc. Year: 1949Industry: Engineering - Construction

Patel Engineering was incorporated in 1949 by 4 young entrepreneurs, with an objective to cater to the infrastructural needs of a developing nation.The agency presents a extensive range of civil engineering offerings in layout and construction of power tasks, hydroelectric tasks, business constructing, business complexes, dams, tunnels, underground structures, metal and concrete structures, bridges, marine works, flyovers and national highways in India and abroad. It has worked on 75 dams, 30 hydro electric powered projects, 30 micro tunnelling initiatives and 130 km of tunnelling, etc. In 2010 the Company has received approval from the Central government for coal linkage for its thermal tasks. Also, Patel Engineering Ltd''s subsidiary provided with the most important Waterfront Development Project in Mauritius.

Patel Engineering Share Price

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Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

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Peer Comparison

Patel Engineering Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	544	734	666	724	878	1112	974	893	1037	1298
Other Income	24	43	30	16	29	41	36	30	27	28
Total Income	568	776	696	740	907	1153	1009	923	1064	1326
Total Expenditure	474	655	562	602	732	957	824	762	873	1117
Operating Profit	94	121	134	138	175	196	185	161	191	209
Interest	98	116	106	104	106	104	100	106	107	106
Depreciation	18	20	20	20	21	21	22	23	24	24
Exceptional Income / Expenses	0	-214	0	0	-13	-17	0	-1	-7	7
Profit Before Tax	-22	-229	9	14	36	54	63	31	53	86
Provision for Tax	12	-83	11	5	7	20	21	15	15	3
Profit After Tax	-34	-146	-2	9	29	34	42	16	38	83
Adjustments	-3	5	2	-2	-2	4	-1	10	-7	2
Profit After Adjustments	-36	-141	-0	7	27	38	41	26	31	85
Adjusted Earnings Per Share	-0.8	-2.8	-0	0.1	0.5	0.7	0.8	0.5	0.6	1.1

Patel Engineering Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	3922	3727	3169	2875	4041	3654	3934	2211	2556	1828	3397	4202
Other Income	91	82	107	116	153	254	243	175	171	109	116	121
Total Income	4014	3809	3276	2991	4194	3908	4177	2386	2727	1937	3514	4322
Total Expenditure	3461	3168	2710	2379	3624	3233	3403	1850	2371	1593	2870	3576
Operating Profit	552	640	566	612	569	675	773	535	356	344	644	746
Interest	333	437	438	516	602	579	489	370	266	401	420	419
Depreciation	89	77	82	80	55	78	54	50	66	72	82	93
Exceptional Income / Expenses	0	0	0	15	-129	-89	-136	89	31	-214	-30	-1
Profit Before Tax	130	126	46	32	-216	-71	94	204	55	-344	112	233
Provision for Tax	60	52	21	22	-20	32	-11	44	23	-71	43	54
Profit After Tax	70	74	25	10	-196	-103	105	159	31	-273	69	179
Adjustments	-4	-9	-8	-1	8	44	-7	-11	-24	-30	-7	4
Profit After Adjustments	67	65	16	8	-188	-59	98	148	7	-303	62	183
Adjusted Earnings Per Share	6.6	6.4	1.5	0.8	-16.9	-2.6	4.3	6.2	0.2	-5.9	1.2	3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	86%	15%	-1%	-1%
Operating Profit CAGR	87%	6%	-1%	2%
PAT CAGR	0%	-24%	0%	-0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	34%	34%	-4%	1%
ROE Average	3%	-2%	1%	0%
ROCE Average	12%	6%	8%	8%

Patel Engineering Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	1557	1628	1793	1893	1713	2139	2160	2277	2547	2320	2384
Minority's Interest	83	99	129	125	146	70	56	57	33	61	71
Borrowings	951	1398	1881	2368	2107	1599	1332	1305	919	753	761
Other Non-Current Liabilities	526	274	565	525	661	613	424	848	701	1244	1296
Total Current Liabilities	3075	3626	4240	4328	4862	5162	3522	3800	4011	3509	3803
Total Liabilities	6192	7023	8608	9239	9488	9582	7495	8286	8211	7887	8315
Fixed Assets	635	715	674	658	622	629	556	578	607	683	1181
Other Non-Current Assets	1351	1254	2699	3139	2706	2865	2423	2868	2613	1996	1716
Total Current Assets	4194	5034	5206	5406	6121	6088	4476	4840	4990	5134	5358
Total Assets	6192	7023	8608	9239	9488	9582	7495	8286	8211	7887	8315

Patel Engineering Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	244	335	343	184	149	62	60	132	124	113	195
Cash Flow from Operating Activities	549	-1	-362	-1	-48	567	403	836	407	389	537
Cash Flow from Investing Activities	-227	-152	-377	-244	272	-222	245	-327	-47	7	-144
Cash Flow from Financing Activities	-230	177	614	229	-311	-343	-578	-513	-367	-311	-340
Net Cash Inflow / Outflow	92	25	-125	-16	-86	2	70	-4	-7	85	54
Closing Cash & Cash Equivalent	335	360	219	168	62	64	131	127	118	198	249

Patel Engineering Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	6.59	6.44	1.48	0.76	-16.9	-2.59	4.32	6.25	0.16	-5.92	1.18
CEPS(Rs)	15.78	15.02	9.67	8.05	-12.71	-1.09	7	8.82	2.17	-3.93	2.86
DPS(Rs)	0.3	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	152.91	159.1	159.95	167.04	150.57	94.19	93.36	95.8	56.76	43.89	44.12
Core EBITDA Margin(%)	11.76	14.99	14.49	17.26	10.31	11.52	13.49	16.29	7.25	12.84	15.53
EBIT Margin(%)	11.81	15.1	15.27	19.05	9.53	13.9	14.82	25.97	12.56	3.15	15.64
Pre Tax Margin(%)	3.31	3.38	1.45	1.1	-5.36	-1.95	2.38	9.22	2.14	-18.81	3.3
PAT Margin (%)	1.79	1.99	0.78	0.34	-4.86	-2.82	2.66	7.21	1.22	-14.93	2.02
Cash Profit Margin (%)	4.06	4.07	3.37	3.11	-3.49	-0.68	4.04	9.48	3.81	-10.99	4.43
ROA(%)	1.2	1.12	0.32	0.11	-2.1	-1.08	1.23	2.02	0.38	-3.39	0.85
ROE(%)	4.74	4.71	1.47	0.53	-11.12	-5.4	4.92	7.25	1.3	-11.4	3
ROCE(%)	11.19	11.89	8.55	8.26	5.47	7.16	9.59	11.48	6.54	1.23	11.69
Receivable days	85.68	101.36	91.12	70.28	48.86	38.32	22.94	38.87	39.78	75.99	53.48
Inventory Days	181.93	213.22	333.86	462.27	391.55	477.23	371.88	553.8	507.86	718.46	387.88
Payable days	942.1	-909.71	-640.26	-586.51	0	-1370.7	215.1	-2672.4	-8218.14	-2823.09	0
PER(x)	11.1	6.13	27.57	69.34	0	0	9.65	2.82	51.01	0	19.09
Price/Book(x)	0.48	0.25	0.26	0.32	0.26	0.58	0.45	0.18	0.14	0.24	0.51
Dividend Yield(%)	0.28	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.83	0.95	1.5	1.95	1.42	1.68	0.95	1.35	1	1.43	0.94
EV/Core EBITDA(x)	5.87	5.52	8.38	9.14	10.11	9.12	4.82	5.59	7.15	7.61	4.94
Net Sales Growth(%)	31.54	-4.98	-14.97	-9.26	40.53	-9.57	7.66	-43.81	15.63	-28.48	85.85
EBIT Growth(%)	-3.83	21.5	-14.03	13.23	-29.69	31.91	14.73	-1.5	-44.1	-82.06	823.13
PAT Growth(%)	-46.31	5.76	-66.7	-60.87	-2128.25	47.56	201.85	52.13	-80.36	-971.89	125.14
EPS Growth(%)	-45.69	-2.38	-76.94	-48.65	-2316.51	84.7	267.12	44.61	-97.43	-3786.68	119.89
Debt/Equity(x)	1.84	2.16	2.54	2.78	3.23	2.33	1.37	1.19	0.9	1.01	0.97
Current Ratio(x)	1.36	1.39	1.23	1.25	1.26	1.18	1.27	1.27	1.24	1.46	1.41
Quick Ratio(x)	0.76	0.73	0.45	0.33	0.29	0.24	0.37	0.34	0.36	0.43	0.46
Interest Cover(x)	1.39	1.29	1.11	1.06	0.64	0.88	1.19	1.55	1.21	0.14	1.27
Total Debt/Mcap(x)	3.84	8.72	9.92	8.79	12.65	4.03	3.07	6.45	6.25	4.14	1.91

Patel Engineering Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	60.87	56.23	56.23	54.62	54.62	54.62	54.62	43.48	39.12	39.41
FII	0	0	0	0.01	0.51	0.39	0.37	2.98	2.92	2.1
DII	18.98	24.31	19.44	15.02	15.02	15.02	15.02	13.96	13.96	9.2
Public	20.15	19.46	24.33	30.35	29.85	29.98	29.99	39.58	44.01	49.29
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	26.17	26.17	26.17	26.17	26.17	26.17	26.17	22.42	20.17	30.49
FII	0	0	0	0	0.25	0.18	0.18	1.54	1.5	1.62
DII	8.16	11.31	9.05	7.2	7.2	7.2	7.2	7.2	7.2	7.12
Public	8.67	9.06	11.32	14.55	14.3	14.37	14.37	20.41	22.7	38.13
Others	0	0	0	0	0	0	0	0	0	0
Total	43	46.55	46.55	47.92	47.92	47.92	47.92	51.57	51.57	77.36

Pros

Stock is trading at 0.8 times its book value

Cons

Promoter holding is low: 39.41%.
Company has a low return on equity of -2% over the last 3 years.
Debtor days have increased from -2823.09 to 0days.
The company has delivered a poor profit growth of 0% over past five years.

* 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.