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Patels Airtemp (India) Ltd (517417)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517417 NSE: Engineering - Industrial Equipments | Small Cap | Patels Airtemp (I) Share Price

₹276 -3.75 (-1.34%)

As on 07-Sep'26 10:25

Patels Airtemp (India) Ltd (517417)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517417 NSE: Engineering - Industrial Equipments | Small Cap | Patels Airtemp (I) Share Price

₹276 -3.75 (-1.34%)

As on 07-Sep'26 10:25

Key Metrics
Valuation Multiples
Market Cap
₹153 Cr.
Current Price
₹276
52-Week Low / High
₹180 / 420
TTM EPS
₹12.5
TTM Sales
₹186 Cr.
Book Value per Share
₹302.5
P/E Ratio
22.34
Higher than its 5-year historical median
Industry PE
57.7
Price to Book (P/B)
0.92
Lower than its 5-year historical median
Price to Sales (P/S)
0.82
Higher than its 5-year historical median
EV/EBITDA
9.29
Higher than its 5-year historical median
Dividend Yield
1.09%
Profitability Efficiency
Return on Equity (ROE)
6.35%
Underperforms industry median
Return on Capital Employed (ROCE)
9.51%
Underperforms industry median
Return on Assets (ROA)
3.39%
Operating Profit Margin
9.2%
Net Profit Margin
4.06%
Gross Profit Margin
6.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-34.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-34.99%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-37.8%
Asset Quality
Promoter Holding
46.44%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹160 Cr.
Equity
₹5.5 Cr.
Face Value
₹10
All Time Low / High
₹1.21 / 900.00

Patels Airtemp (India) stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Fair

Price Trend

Weak
Q.1 Is Patels Airtemp (India) Ltd a good quality company?
Patels Airtemp (India) Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Patels Airtemp (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Patels Airtemp (India) Ltd vs industry peers?
Patels Airtemp (India) Ltd revenue CAGR is -0.19%, compared to the industry median CAGR of 6.48%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Patels Airtemp (India) Ltd?
Promoters hold 46.44% of the Patels Airtemp (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Patels Airtemp (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.8% based on the current price.

10 Year X-Ray :

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 performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 19.1%18%13.7%17.2%15.7%14.3%13%14.3%13.9%9.5%-
Value Creation
Index
0.40.30.00.20.10.0-0.10.00.0-0.3-

Growth Parameters

Sales 136158151237255303281371388253186
Sales YoY Gr.-16.2%-4.6%57.3%7.6%18.7%-7.2%31.7%4.6%-34.8%-
Adj EPS 15.817.214.120.922.723.919.626.530.218.612.5
YoY Gr.-8.7%-18.2%48.5%8.9%5.3%-18%35%14%-38.5%-
BVPS (₹) 132.3146157.4176.6196.3218.2237260.9287.8303.7302.5
Adj Net
Profit
88.77.110.611.512.110.714.516.510.27
Cash Flow from Ops. -3.28.26.611.18.5-12.84.811.24022.8-
Debt/CF from Ops. -7.33.76.447.5-6.919.78.32.33.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.1%-0.2%-3.5%-34.8%
Adj EPS 1.8%-3.9%-1.8%-38.5%
BVPS9.7%9.1%8.6%5.5%
Share Price 4.5% 8.1% -7.9% -21.5%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
12.712.49.312.512.211.68.910.7116.34.1
Op. Profit
Mgn %
12.912.511.59.710.39.410.79.59.39.210
Net Profit
Mgn %
5.95.54.74.54.543.83.94.343.7
Debt to
Equity
0.40.40.50.50.60.80.70.70.60.5-
Working Cap
Days
194238317275306269346306262326320
Cash Conv.
Cycle
127160218173172161203179176254160

Valuation of Patels Airtemp (I) - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales136158151237255303281371388253
Operating Expenses + 119139134214229275251336352230
Manufacturing Costs27302542444342515239
Material Costs718385143146189174244255150
Employee Cost 88910121213151617
Other Costs 12171420273122252923
Operating Profit 17201723262830353623
Operating Profit Margin (%) 12.7%12.4%11.5%9.7%10.2%9.3%10.7%9.5%9.2%9.2%
Other Income + 1012111224
Exceptional Items 0000000000
Interest 35578912131210
Depreciation 3333344444
Profit Before Tax 12131115151715202214
Tax 4433444554
Profit After Tax 89711111211151710
PAT Margin (%) 5.8%5.4%4.9%4.8%4.5%4.1%4.0%4.0%4.3%4.1%
Adjusted EPS (₹)15.617.014.422.322.424.520.526.930.218.8
Dividend Payout Ratio (%)16%14.70%17.30%11.20%11.20%11.50%14.70%11.20%9.90%16%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 67748090100111130143157166
Share Capital 5555555555
Reserves 6269758494106124137152161
Debt +24304245648894888587
Long Term Debt6810131429201540
Short Term Debt17223231495974738287
Minority Interest0000000000
Trade Payables20312964594076742516
Others Liabilities 18124162604661664128
Total Liabilities 128148191261282284360371308297

Fixed Assets

Net Fixed Assets +23212233434747454445
Gross Block44444862748286889094
Accumulated Depreciation21232628323539424650
CWIP 1003100003
Investments 0000000000
Inventories2951721011039815017011583
Trade Receivables57626591929111110694107
Cash Equivalents 141024112361152834
Others Assets 54920214242452827
Total Assets 128148191261282284360371308297
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -387118-135114023
PBT 12131115151715202214
Adjustment 3569101215161410
Changes in Working Capital -15-6-5-9-14-37-22-2013-0
Tax Paid -4-4-4-4-4-5-4-5-9-1
Cash Flow From Investing Activity + -1-1-3-17-9-6-3-1-1-3
Capex -3-1-4-18-10-7-4-2-3-7
Net Investments 0000000000
Others 1011111114
Cash Flow From Financing Activity + 11-116-610143-17-16-13
Net Proceeds from Shares -1000009000
Net Proceeds from Borrowing 1223115-9-4-12-4
Interest Paid -1-3-4-7-8-9-12-13-11-10
Dividend Paid 0-2-1-1-1-1-1-2-2-2
Others 13-89-118917292
Net Cash Flow 6-410-129-55-7236
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)12.5312.219.5113.3512.0311.89.3110.79116.35
ROCE (%)19.0717.9513.7417.2115.7414.2912.9514.3413.889.51
Asset Turnover Ratio1.321.150.891.050.941.070.871.021.140.84
PAT to CFO Conversion(x)-0.380.89110.73-1.080.450.732.352.3
Working Capital Days
Receivable Days112.90136.50153.80120.10130.80110130.80106.6094.30144.50
Inventory Days6491.70148.30133.20146.30121160.30156.70133.90142.50
Payable Days80.60112128.60118.70153.5095.50122111.9070.8049.30

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Patels Airtemp (India) Ltd FAQs

The current trading price of Patels Airtemp (I) on 07-Sep-2026 10:25 is ₹276.0.

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 06-Sep-2026 the market cap of Patels Airtemp (I) stood at ₹153.0 Cr

The latest P/E ratio of Patels Airtemp (I) as of 06-Sep-2026 is 22.34.

The latest P/B ratio of Patels Airtemp (I) as of 06-Sep-2026 is 0.92.

The 52-week high of Patels Airtemp (I) is ₹420.0 and the 52-week low is ₹180.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Patels Airtemp (I) is ₹186 ( Cr.) .

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

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

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.

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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