Patels Airtemp (India) Ltd - Stock Valuation and Financial Performance

BSE: 517417 | NSE: | Engineering - Industrial Equipments | Small Cap

Patels Airtemp (I) Share Price

552.35 -0.10 -0.02%
as on 18-May'24 12:50

DeciZen - make an informed investing decision on Patels Airtemp (I)

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Patels Airtemp (India) stock performance -

mw4me loader
P/E Ratio (SA):
21.91
Market Cap:
302.2 Cr.
52-wk low:
202.3
52-wk high:
593.5

Is Patels Airtemp (India) Ltd an attractive stock to invest in?

1. Is Patels Airtemp (India) Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Patels Airtemp (India) Ltd is a below average quality company.

2. Is Patels Airtemp (India) Ltd undervalued or overvalued?

The key valuation ratios of Patels Airtemp (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Patels Airtemp (India) Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Patels Airtemp (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Patels Airtemp (I):

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Patels Airtemp (India) Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.9%11.3%11.4%12.7%12.4%9.4%12.2%11.5%10.2%9.1%-
Value Creation
Index
-0.4-0.2-0.2-0.1-0.1-0.3-0.1-0.2-0.3-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 70.8113127136158151237255303281357
Sales YoY Gr.-59.4%12.3%7.5%16.2%-4.6%57.3%7.6%18.7%-7.2%-
Adj EPS 9.312.214.115.817.214.120.922.723.919.625.2
YoY Gr.-31.9%15.2%12.3%8.7%-18.2%48.5%8.9%5.3%-18%-
BVPS (₹) 97.1105.4116.8132.3146157.4176.6196.3218.2237252.1
Adj Net
Profit
4.76.27.188.77.110.611.512.110.714
Cash Flow from Ops. 11.6-0.18-3.28.26.611.18.5-12.84.8-
Debt/CF from Ops. 1.3-222.31.3-7.33.76.447.5-6.919.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 16.6%12.2%5.8%-7.2%
Adj EPS 8.7%2.7%-2%-18%
BVPS10.4%10.2%10.3%8.6%
Share Price 23.8% 42.5% 52.8% 123.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
9.912.112.712.712.49.312.512.211.68.910.3
Op. Profit
Mgn %
13.712.711.812.912.511.59.710.39.410.79.2
Net Profit
Mgn %
6.65.55.65.95.54.74.54.543.83.9
Debt to
Equity
0.30.50.20.40.40.50.50.60.80.7-
Working Cap
Days
218157167194238317275306269346150
Cash Conv.
Cycle
109779912716021817317216120344

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.73

Sales growth is good in last 4 quarters at 50.42%

Return on Equity has declined versus last 3 years average to 10.30%

Sales growth has been subdued in last 3 years 5.84%

Net Profit has been subdued in last 3 years -2.02%

Latest Financials - Patels Airtemp (India) Ltd.

Standalone Consolidated
TTM EPS (₹) 25.2 25.1
TTM Sales (₹ Cr.) 357 357
BVPS (₹.) 252.1 251.9
Reserves (₹ Cr.) 132 132
P/BV 2.19 2.19
PE 21.91 22.05
From the Market
52 Week Low / High (₹) 202.30 / 593.45
All Time Low / High (₹) 1.21 / 593.45
Market Cap (₹ Cr.) 302
Equity (₹ Cr.) 5.5
Face Value (₹) 10
Industry PE 53.8

Management X-Ray of Patels Airtemp (I):

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Patels Airtemp (I)

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales71113127136158151237255303281
Operating Expenses 6198112119139134214229275251
Manufacturing Costs12192227302542444342
Material Costs386371718385143146189174
Employee Cost 66788910121213
Other Costs 6101212171420273122
Operating Profit 10141517201723262830
Operating Profit Margin (%) 13.7%12.7%11.8%12.7%12.4%11.5%9.7%10.2%9.3%10.7%
Other Income 0001012111
Interest 13235578912
Depreciation 2223333344
Exceptional Items 0000000000
Profit Before Tax 7101112131115151715
Tax 3344433444
Profit After Tax 56789711111211
PAT Margin (%) 6.6%5.5%5.6%5.8%5.4%4.8%4.8%4.5%4.1%4.0%
Adjusted EPS (₹)9.212.214.115.617.014.422.322.424.520.5
Dividend Payout Ratio (%)22%18%16%16%15%17%11%11%11%15%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 49535967748090100111130
Share Capital 5555555555
Reserves 4448546269758494106124
Minority Interest0000000000
Debt15251024304245648894
Long Term Debt036681013142920
Short Term Debt1522517223231495974
Trade Payables14141220312964594076
Others Liabilities 7111518124162604661
Total Liabilities 8510497128148191261282284360

Fixed Assets

Gross Block35394144444862748286
Accumulated Depreciation12161821232628323539
Net Fixed Assets22232323212233434747
CWIP 0001003100
Investments 0000000000
Inventories24262329517210110398150
Trade Receivables132335576265919291111
Cash Equivalents 172261410241123611
Others Assets991054920214242
Total Assets 8510497128148191261282284360

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1208-387118-135
PBT 7101112131115151715
Adjustment 2543569101215
Changes in Working Capital 4-11-3-15-6-5-9-14-37-22
Tax Paid -2-3-4-4-4-4-4-4-5-4
Cash Flow From Investing Activity -6-1-6-1-1-3-17-9-6-3
Capex -5-4-3-3-1-4-18-10-7-4
Net Investments 0000000000
Others -13-31011111
Cash Flow From Financing Activity -27-1811-116-610143
Net Proceeds from Shares 000-1000009
Net Proceeds from Borrowing 0001223115-9
Interest Paid -1-3-2-1-3-4-7-8-9-12
Dividend Paid -1000-2-1-1-1-1-1
Others 19-1613-89-118917
Net Cash Flow 46-166-410-129-55
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)9.8212.0812.6912.5312.219.5113.3512.0311.89.31
ROCE (%)13.5817.2617.519.0717.9513.7417.2115.7414.2912.95
Asset Turnover Ratio0.941.291.371.321.150.891.050.941.070.87
PAT to CFO Conversion(x)2.401.14-0.380.89110.73-1.080.45
Working Capital Days
Receivable Days775477113136154120131110131
Inventory Days10675656492148133146121160
Payable Days11781668111212911915496122

Patels Airtemp (India) Ltd Stock News

Patels Airtemp (India) Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Patels Airtemp (I) on 18-May-2024 12:50 is ₹552.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-May-2024 12:50 the market cap of Patels Airtemp (I) stood at ₹302.2.
The latest P/E ratio of Patels Airtemp (I) as of 18-May-2024 12:50 is 21.91.
The latest P/B ratio of Patels Airtemp (I) as of 18-May-2024 12:50 is 2.19.
The 52-week high of Patels Airtemp (I) is ₹593.5 and the 52-week low is ₹202.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Patels Airtemp (I) is ₹356.5 ( Cr.) .

About Patels Airtemp (India) Ltd

Patels Airtemp (PAT) was incorporated in 1973. It fused technical expertise with innovation to achieve a remarkable growth and an efficacious nationwide presence. The growth saga was further strengthened in 1993, when it became a limited entity and thus was born, Patels Airtemp (India) Limited.

PAT was the result of the conscious and dedicated efforts of a team of committed Engineers and Promoter - Directors. An experience of over three decades in the field of design and manufacturing was instrumental in its upbringing. Today, PAT stands proudly as one of the leading manufacturers of high quality engineering products. The success in attaining its strategic objective of nationwide presence, was made possible due to the expansion and diversification policies. The journey of the company began with a single manufacturing unit in 1973 and presently the company has two manufacturing units - both equipped with stat-of-the-art production facilities. Expansion facilitated PAT to concentrate on a much wider range of products.

Product range of the company includes:

Industrial Product

  • Heate Exchangers & Pressure Vassels
  • Air Cooled Heat Exchangers 
  • Dow Therm Condensers and Coolers
  • Shell and Tube Heat Exchanges 
  • Inter Coolers & After Coolers
  • Tube in Tube process Heat
  • Exchanges  Oil Coolers
  • Bare Tube Heat Exchangers 
  • Shell & Tube Dx-Chillers
  • Finned Tube Process Heat
  • Exchangers  Air Heaters
  • H.P. & L.P. Feed Water Heaters 
  • Pressure Vessels & Coded Pressure Vessles
  • Surface Condensers 
  • Columns
  • Steam coil Air Heaters 
  • LPG-Bullets
  • Shell And Tube Condensers

Trunkey Project

  • Comfort Air-Conditioning 
  • Textile Humidification
  • Pharmaceutical Air-Conditioning  
  • Evaporative Colling Systems
  • Clean Room Requirements  
  • Pressurization and Ventilation Systems
  • Industrial Air-Conditioning  
  • Dust Extraction Systems
  • Process Air-Conditioning 
  • Turn-key Solutions to HVAC problems
  • Closed Controlled Air-Conditioning 
  • Humidification and Air Washer Plants

Domestic Consumer Products

  • Window Air Conditioners 
  • Ceiling Suspended Units
  • Split Air Conditioners(Highwall Units) 
  • Condensing Units
  • Fan Coil Units 
  • Ductable Units
  • Floor Mounted Units 
  • Packaged Units

PAT has attained a key position as one of the leading suppliers to the core industrial sectors like -

  • Power projects
  • Refineries
  • Fertilizers
  • Cements
  • Petrochemicals
  • Pharmaceuticals
  • Textile
  • Chemical
  • Engineering etc.

Projects undertaken.

  • Vacuum Pre Concentrator For Indo Gulf Corporation Urea Plant Under Snam Progetti Process Design.
  • Reboiler For Nirma Ltd. Soda Ash Plant Under Process Design Of Jacobs H & G
  • Reboiler For Nirma Ltd. Soda Ash Plant Under Process Design Of Jacobs H & G
  • Shell And Fin Type Inter Coolers And After Cooler For Inger Soll Rand Ltd. Centrifugal Compressor , As Import Substitutes. 
  • Shell And Tube Heat Exchanger In Non Ferrus Construction For Ongc Ltd- Off Shore. 
  • Dual Application Radiator Type Aircooled Heat Exchangers For Natural Gas Compressor Station At ONGC Ltd - Mehsana. 

Achievements/ recognition:

  • PAT was awarded ISO 9002 in 1997
  • ISO 9001 in 1999
  • EMC approval in 1998.
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