Construction & engineering firm Patel Engineering announced Q3FY23 results: Q3FY23: Revenue for Q3FY23 at Rs 10,369.77 million, 18.11% YoY growth. Operating EBITDA for Q3FY23 at Rs 1,637.48 million, 11.86% YoY growth. Total order book as of Q3FY23 stood at Rs 1,68,094 million. Patel Engineering 9MFY23 consolidated net profit up 109.89%. Q3FY23 standalone basis debt-equity ratio stood at 0.79. Sector-wise revenue contribution for Standalone Q3FY23 stood at hydro 52%, tunnel 21%, irrigation 13%, road 6%, and others 8%. Commenting on the performance, Mr. Rupen Patel, Chairman & Managing Director of Patel Engineering Limited said, “The performance of our company has improved significantly in the quarter due to growth in our operations. Our profitability for 9 months has more than doubled as compared to the corresponding previous year surpassing all targets. Infrastructure is the prime focus of the government with increased allocations in the budget and we expect to continue growing our order book. Hydropower remains one of the oldest sources of renewable energy and to achieve net zero goals it is going to be one of the focus area for energy consumption. Our expertise in the segment will be a key growth driver going forward apart from other infrastructure segments.” Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO said, “We continue to focus on improving the leverage situation of the company along with improving operational efficiency to do this we continue to focus on monetizing non-core assets also we are in process of raising funds through the Rights Issue. This will help us in reaching our target of debt reduction and also help in funding the working capital requirements of the company.” Result PDF
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