Patel Engineering Q2 FY27: PAT ₹93.48 & Rev ₹1,280.74 Cr

1 Financial Results 🔴 High Importance ✨ Positive 📄 PDF

Investor Takeaways

Net profit increased 24.49% YoY to ₹93.48 crore in Q1 FY27

Revenue grew 3.83% YoY to ₹1,280.74 crore in Q1 FY27

Operating EBITDA reached ₹179.60 crore with margin of 14.02%

Credit rating upgraded from A- to A

Order book strengthened to ₹14,636 crore

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	1280.74 Cr	3.83%
Net Profit	93.48 Cr	24.49%
EBITDA	179.60 Cr	14.02% margin
EPS	0.95	46.15% (from Q3FY25)
OPM	14.02%	14.02%

What Changed

The company demonstrated significant profitability improvement with net profit rising 24.49% YoY to ₹93.48 crore in Q1 FY27, while revenue growth moderated at 3.83% YoY to ₹1,280.74 crore. Operating EBITDA reached ₹179.60 crore with a margin of 14.02%, supporting the 7.30% net profit margin observed in the quarter. The credit rating upgrade from A- to A reflects improved financial standing, alongside progress on key hydropower projects including Subansiri achieving 1,000 MW capacity. The order book of ₹14,636 crore provides visibility into future execution. Historical quarterly data shows OPM expansion from 13.81% in Q2FY25 to 15.26% in Q3FY25, with net profit growth accelerating from ₹54.72 crore in Q1FY25 to ₹93.48 crore in Q1 FY27. The current P/E ratio of 6.42 suggests market confidence in sustained value creation.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Patel Engineering Limited	6.42	N/A	N/A	2,605.36
Larsen & Toubro Limited	33.07	N/A	N/A	5,37,748.69
Rail Vikas Nigam Limited	45.43	N/A	N/A	59,006.07
NBCC (India) Limited	49.12	N/A	N/A	25,331.4

Patel Engineering Limited trades at a significant discount to peers on P/E ratio, suggesting potential relative undervaluation, though direct comparative metrics like ROE and ROCE are not available for analysis.

Risks & Concerns

No specific risks identified in this filing

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	1,205.52	81.52	15.26
Q2FY25	1,174.33	73.45	13.81
Q1FY25	1,101.66	54.72	15.31
Q4FY24	1,343.18	140.35	17.69

2 Financial Results 🔴 High Importance Neutral 📄 PDF

📢 Key Event
Q1 FY27 revenue up 3.8% YoY to INR 12,807 Mn; PAT up 15% YoY to INR 935 Mn

🔄 What Changed
PAT margin improved 69 Bps YoY to 7.18%; credit rating upgraded from A- to A in June 2026; non-core asset sale generated INR 256 Mn

🔮 What's Next
Credit rating upgrade to A reflects strengthened financial stability; focus on expanding hydropower and tunneling portfolio; target to capitalize on India's infrastructure capex cycle

💡 Investor Takeaway
The company delivered solid quarterly growth with margin expansion and strategic progress in key hydropower projects, supported by a strong order book and credit rating upgrade.

Patel Engineering Limited reported consolidated revenue of INR 12,807 Mn in Q1 FY27, up 3.8% YoY, with PAT rising 15% YoY to INR 935 Mn and diluted EPS at INR 0.94. The company highlighted operational milestones including commissioning of 1,000 MW at Subansiri Lower Hydropower Project, 50% dam completion at Kwar Hydropower Project, and commencement of works at Dorjilung Hydropower Project in Bhutan. Non-core asset monetization generated INR 256 Mn, while credit rating was upgraded from A- to A in June 2026. Segment-wise order intake showed Hydroelectric at 62.29% of total, and the total order book stood at INR 1,46,356 Mn. The company emphasized its focus on high entry-barrier infrastructure segments including hydropower and tunneling, with ongoing projects across 14 Indian states and international presence in Nepal and Bhutan.

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About Patel Engineering Limited (PATELENG)

Construction · Infrastructure Developers & Operators · Listed on NSE

Market Cap: ₹2,757.16 Cr P/E: 9.1 ROE: 6.3% ROCE: 10.4%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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