Construction & engineering company Patel Engineering announced Q2FY23 results: Q2FY23: Patel Engineering consolidated revenue from operations for Q2FY23 at Rs 893.05 crore up by 23.27% YoY and net profit at Rs 19.72 up by 746.35% YoY Operating EBITDA for Q2FY23 at Rs 130.73 crore, 6.76% YoY growth Net profit for H1FY23 at Rs 50.97 crore up by 1152.33% YoY Total order book as on September 30, 2022, stood at Rs 17,598 crore Rupen Patel, Chairman & Managing Director of Patel Engineering Ltd, said, “The performance of the company for this quarter has been ecstatic although most of the projects under execution were impacted due to the elongated monsoon period in the current year and the company has despite all odds been able to give a much better performance as compared to the corresponding quarter in the previous year. Timely actions and readiness to increase the execution post-monsoon on all fronts shall enable the company to perform even better in the coming quarters and achieve higher growth. We shall continue to target projects selectively which shall enable us to get good and reasonable margins in the future and in the process we would continue to contribute towards the development of the infrastructure of our country.” Result PDF
Construction & Engineering firm Patel Engineering announced Q1FY23 Result : Patel Engineering Consolidated Revenue from Operations for Q1 FY23 at Rs 973.91 Crore up by 46.18% YoY Operating EBITDA for Q1 FY23 at Rs 149.83 Crore, 43.94% YoY growth. Consolidated Net Profit increased by Rs 29.51 crore YoY to Rs 31.25 crore. Total Order Book as on 30th June 2022 stood at Rs 17,824 Crore For Q1 FY23 Debt Equity Ratio stood at 0.77. New Order’s received in Q1 FY23 ~ Rs 3,300 Crore. Sector wise Revenue contribution for Q1 FY23 stood at Hydro 49%, Tunnel 22%, Irrigation 15%, Road 8%, and Others 6% Commenting on the performance, Mr. Rupen Patel, Chairman & Managing Director of Patel Engineering Limited said, “The performance of the Company for the quarter has surpassed estimates and has improved drastically as compared to corresponding quarter in previous year. The dedication of our employees with the support of all our clients and our stakeholders shall enable the company to perform even better in the coming quarters and to achieve great success. Our current order book is at an all-time high. We expect to continue getting fresh orders in the future and keep contributing to build the infrastructure of the nation.” Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO said, “Our commitment to achieve growth and success continues and the results in the first quarter has laid the foundation for the performance of the current year. We shall continue to bid selectively and take projects which are selfsustaining with reasonable margins and shall leave no stone unturned in our efforts to reduce debt by monetizing our non-core assets.” Result PDF
Patel Engineering announced Q4FY22 results: Revenue from Operations for FY22 at Rs 3,380.29 crore, 69.5% YoY growth Operating EBITDA for FY22 at Rs 527.72 crore, 124.9 %YoY growth Total Order Book as on 31st March 2022 stands at Rs 15,011 crore Further Rs 2,880 crore L1 converted to orders subsequently Commenting on the performance, Mr. Rupen Patel, Chairman & Managing Director of Patel Engineering Limited said, “this improved performance of the Company is a result of hard work of the entire work force of our organization and we expect to continue the momentum going forward in coming quarters. The focus of government towards infrastructure growth of the country shall enable us to get more orders in future and shall contribute towards steady growth of the Company in years to come.” Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO, “Our focus on core construction business and continuous efforts to monetize our non-core assets has enabled us to achieve a good growth in this year. With regular order inflows and focus on reduction of debt, we shall be able to achieve substantial growth in the future”. Result PDF
Patel Engineering declares Q3FY22 result: Consolidated Revenue from operations for Q3FY22 increased by 61.4% YoY and for 9MFY22 it is up by 79.9% YoY Consolidated Net Profit for Q3FY22 is Rs.29.48 crore vs. a loss of Rs.42.57 crore in Q3FY21 Standalone Revenue from operations for Q3FY22 increased by 60.6% YoY and for 9MFY22 it is up by 81.4% YoY. Standalone PAT for Q3FY22 is Rs. 9.31 crore vs. a loss of Rs. 33.76 crore in Q3FY 21. The company’s standalone Revenue from Operations for the quarter grew from Rs. 473.20 crore to Rs. 760.10 crore, i.e. a growth of 60.63% over corresponding quarter in the previous year. Operating EBITDA margins for Q3FY22 improved to 15.80% from 11.23% in Q3FY21 and increased by 25.38% to Rs.120.06 cr in Q3FY22 from Rs.95.76 cr in Q2 FY 22. PAT increased by 127.58% to Rs.9.31 cr in Q3FY22 as compared to a loss of Rs. 33.76 cr in Q3FY21 On a consolidated basis, the Revenue from Operations for Q3FY22 grew by 61.4% to Rs. 877.93 crore as compared to Rs. 544.05 crore in Q3FY21 and Net Profit for the quarter stood at Rs. 29.48 crore vs. a loss of Rs. 42.57 crore in Q3FY21. Commenting on the Q3FY22 result, Mr. Rupen Patel, Chairman & Managing Director, Patel Engineering Ltd. said, “The Budget announcement by government shall give the required thrust to the infrastructure sector in the coming year and will definitely provide a boost to the economy. With the focus of the government towards the sector and steady growth in order book, this Calendar year 2022 should be one of the best years in the recent past for the company and shall bring the Company to new heights and make it one of the best in its class”. Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO, Patel Engineering Ltd. said “We shall continue to focus on reduction of debt and improving cash flows of the company by monetization of non-core assets and surplus generated from healthy order book.” Result PDF
Highlights: Revenue from Operations up by 97.1% for H1FY22 to Rs. 1,226.91 cr from 622.42 cr in H1FY21 & increased by 64.4% in Q2FY22 to Rs. 651.56 cr from 396.30 cr in Q2FY21. PAT increased by 111.9% to Rs. 6.11 cr in Q2FY22 Vs. a loss of Rs. 51.20 cr in Q2 FY 21. The company’s standalone Revenue from Operations for the quarter grew by 64.4% to Rs.651.56 crore from Rs. 396.30 crore marking a strong growth over corresponding quarter in the previous year. Operating EBITDA for Q2 FY22 increased by 169.2% to Rs. 95.76 cr from Rs. 35.57 cr in Q2 FY21. PAT increased by 111.9% to Rs. 6.11 cr in Q2FY22 as compared to a loss of Rs. 51.20 cr in Q2 FY21. The strong growth for the quarter reflects the thrust of the government for improving the infrastructure of the country especially hydro power projects, railway & road tunnels etc. Commenting on the Q2FY22 result, Mr. Rupen Patel, Chairman & Managing Director, Patel Engineering Ltd. said, “There is no doubt that the pandemic has pushed every sector into uncharted territory, however the post-pandemic environment has introduced several new market dynamics, which present with them new prospects for the construction and infrastructure sector. As we complete Q2FY22 and usher into Q3FY22, with a slew of initiatives to further consolidate our position as the one of the leading players in the sector”. Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO, Patel Engineering Ltd. said “We have focused towards sustainability and recovery in the last quarter, but now we aim towards growth with increase in order book that will help us build a healthy cash flow from margins generated. Also we shall continue to focus on monetization of non-core assets and reduce further debt. Result PDF