Patel Engineering Ltd - Stock Valuation and Financial Performance

BSE: 531120 | NSE: PATELENG | Engineering - Construction | Small Cap

Patel Engineering Share Price

60.78 1.22 2.05%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Patel Engineering

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Patel Engineering stock performance -

mw4me loader
P/E Ratio (CD):
19.63
Market Cap:
4,607.7 Cr.
52-wk low:
14.6
52-wk high:
79

Is Patel Engineering Ltd an attractive stock to invest in?

1. Is Patel Engineering Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Patel Engineering Ltd is a average quality company.

2. Is Patel Engineering Ltd undervalued or overvalued?

The key valuation ratios of Patel Engineering Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Patel Engineering Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Patel Engineering 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 Patel Engineering:

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.
Patel Engineering Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 5.8%5.4%4.4%5.5%8.3%7%3.5%2.7%7.9%10.5%-
Value Creation
Index
-0.6-0.6-0.7-0.6-0.4-0.5-0.8-0.8-0.4-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,1692,8754,0413,6543,9342,2112,5561,8283,3974,0284,499
Sales YoY Gr.--9.3%40.5%-9.6%7.7%-43.8%15.6%-28.5%85.9%18.6%-
Adj EPS 2.80.2-9.3-0.47.54-0.3-31.52.63
YoY Gr.--91.3%-3983.3%NANA-45.8%-106.7%NANA80.8%-
BVPS (₹) 160167150.694.293.495.856.843.944.136.438.1
Adj Net
Profit
30.42.7-104-9.216995.9-12.1-15576.6204234
Cash Flow from Ops. -362-1-47.7567403836407389514693-
Debt/CF from Ops. -12.4-5102.1-113.18.87.23.25.65.84.42.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.7%0.5%16.4%18.6%
Adj EPS -0.5%-18.7%NA80.8%
BVPS-15.2%-17.2%-13.8%-17.5%
Share Price 1.4% 27.4% 79.2% 308.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1.80.1-5.7-0.57.94.3-0.5-6.43.37.88.1
Op. Profit
Mgn %
15.81810.711.713.517.27.413.515.615.514.1
Net Profit
Mgn %
1.20.1-2.8-1.54.54.80.5-6.82.55.45.2
Debt to
Equity
2.52.83.22.31.41.20.9110.6-
Working Cap
Days
6978906777816361,0109051,244679589216
Cash Conv.
Cycle
29538335041828732735350427422665

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.10%

Sales growth is growing at healthy rate in last 3 years 16.37%

Debt to equity has declined versus last 3 years average to 0.62

Sales growth is good in last 4 quarters at 18.76%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Patel Engineering Ltd.

Standalone Consolidated
TTM EPS (₹) 3.9 3
TTM Sales (₹ Cr.) 4,347 4,499
BVPS (₹.) 39.7 38.1
Reserves (₹ Cr.) 2,995 2,944
P/BV 1.50 1.56
PE 15.38 19.63
From the Market
52 Week Low / High (₹) 14.61 / 79.00
All Time Low / High (₹) 0.69 / 739.72
Market Cap (₹ Cr.) 4,608
Equity (₹ Cr.) 77.4
Face Value (₹) 1
Industry PE 41.9

Management X-Ray of Patel Engineering:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *99.4799.4799.4798.2799.3288.6788.6788.6788.6788.67
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Patel Engineering

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
Sales3,1692,8754,0413,6543,9342,2112,5561,8283,3974,028
Operating Expenses 2,7102,3793,6243,2333,4031,8502,3711,5932,8703,403
Manufacturing Costs2,9112,5583,1152,9931,4081,6482,0291,4412,4243,044
Material Costs-532-54013-2201,660-149-55-16717-174
Employee Cost 142135138150151168194201267341
Other Costs 190226359310185184202117162192
Operating Profit 459496417421531360185235528625
Operating Profit Margin (%) 14.5%17.3%10.3%11.5%13.5%16.3%7.3%12.8%15.5%15.5%
Other Income 107116153254243175171109116120
Interest 438516602579489370266401420418
Depreciation 82805578545066728293
Exceptional Items 015-129-89-1368931-214-30-1
Profit Before Tax 4632-216-719420455-344112233
Tax 2122-2032-114423-714354
Profit After Tax 2510-196-10310515931-27369179
PAT Margin (%) 0.8%0.3%-4.9%-2.8%2.7%7.2%1.2%-14.9%2.0%4.4%
Adjusted EPS (₹)1.50.8-16.9-2.64.36.30.2-5.91.22.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 1,7931,8921,7132,1392,1602,2762,5462,3192,3842,888
Share Capital 88816161641474877
Reserves 1,7851,8851,7052,1232,1442,2592,5052,2732,3362,811
Minority Interest12912514670565733617188
Debt4,1864,7904,9324,3382,8722,6492,2442,2101,9821,603
Long Term Debt1,8812,3682,1071,5991,3321,305919753761535
Short Term Debt2,3052,4222,8252,7401,5391,3441,3251,4571,2211,067
Trade Payables8688677888611,0951,0931,3701,2101,3241,552
Others Liabilities 1,6321,5651,9092,1741,3122,2132,0182,0872,5542,413
Total Liabilities 8,6089,2399,4889,5827,4958,2868,2117,8878,3158,544

Fixed Assets

Gross Block1,1361,1941,2231,1831,1071,1651,1841,3261,8672,022
Accumulated Depreciation462536601554551587577643687728
Net Fixed Assets6746586226295565786076831,1811,294
CWIP 7869828378687921,0631,141679283294
Investments 134182164138140116796882124
Inventories3,3143,9694,7014,8553,1623,5463,5663,6303,5913,744
Trade Receivables539568514253241230328434562531
Cash Equivalents 1881526461132125114196261212
Others Assets2,9722,7292,5862,7772,4712,6282,3762,1982,3562,344
Total Assets 8,6089,2399,4889,5827,4958,2868,2117,8878,3158,544

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -362-1-48567403836407389514693
PBT 4632-216-719419935-362115237
Adjustment 476618691710-1,690269180638448442
Changes in Working Capital -804-597-460-53188629813012532108
Tax Paid -80-54-62-191147063-12-81-95
Cash Flow From Investing Activity -377-244272-222245-327-477-121-217
Capex -336-240135-108149-313-47-114-143-172
Net Investments -20-461822-3-53-10144-64
Others -2142120-1369938101071919
Cash Flow From Financing Activity 614229-311-343-578-513-367-311-340-536
Net Proceeds from Shares 02000118000
Net Proceeds from Borrowing 46159429197-425-217-10539-20-514
Interest Paid -422-487-602-423-152-297-280-350-320-338
Dividend Paid 000000000316
Others 5751200-17000000
Net Cash Flow -125-16-86270-4-78554-60
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)1.470.53-11.12-5.44.927.251.3-11.43.026.96
ROCE (%)8.558.265.477.169.5911.486.541.2311.6914.23
Asset Turnover Ratio0.410.320.430.380.460.280.310.230.420.48
PAT to CFO Conversion(x)-14.48-0.1N/AN/A3.845.2613.13N/A7.453.87
Working Capital Days
Receivable Days91704938233940765350
Inventory Days334462392477372554508718388332
Payable Days-640-5870-1,371215-2,672-8,218-2,8230-3,009

Patel Engineering Ltd Stock News

Patel Engineering Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Patel Engineering on 12-Apr-2024 10:20 is ₹60.78.
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 12-Apr-2024 10:20 the market cap of Patel Engineering stood at ₹4,607.7.
The latest P/E ratio of Patel Engineering as of 12-Apr-2024 10:20 is 15.38.
The latest P/B ratio of Patel Engineering as of 12-Apr-2024 10:20 is 1.50.
The 52-week high of Patel Engineering is ₹79.00 and the 52-week low is ₹14.61.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Patel Engineering is ₹4,347 ( Cr.) .

About Patel Engineering Ltd

Patel Engineering was incorporated in 1949 by four young entrepreneurs, with an objective to cater to the infrastructural needs of a growing nation.

The company provides a wide range of civil engineering services involved in design and construction of power projeccts, hydroeletric projects, commercial building, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad. 

It has an experience of 75 dams, 30 hydro electric projects, 30 micro tunnelling projects and 130 Km of tunnelling, etc.

In 2010 the Company has received approval from the Central government for coal linkage for its thermal projects.
Also, Patel Engineering Ltd's subsidiary awarded with the largest Waterfront Development Project in Mauritius.

Global subsidiaries

  • ASI RCC INC It was incorporated in April 1987 in Colorado, USA. It basically focuses on construction and rehabilitation of Roller Compacted Concrete Dam. The ASI portfolio includes dams, power and treatment plants, mines, tunnels, highways, etc
  • Westcon Microtunneling It was incorporated in 1978 and is a microtunneling contractor in the US.

Projects

National Projects Under this it has constructed tunnels, dams, under ground projects, bridges, highways and flyovers and has completed various projects such as Centaur Hotel, Barauni oil refinery, Durgapur Steel Plant and impounded wet dock at Mazgaon, among others.

Some of the project that are under construction are Koyna tunnels, Yamuna hydro electric projects, Shillong water supply scheme, etc.

International projects Under this Patel Engineering has constructed dams, hydroelectric projects, complexes etc. Few of its completed projects are Wholesale Market Centre-Doha Qatar, Chukha Hydro Electric Project- Bhutan, Stagecoach Dam and Resorvior-Colarado USA, among others.

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