Patel Engineering Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Patel Engineering announced audited standalone financial results for FY2026 ending March 31, 2026. Revenue from operations stood at Rs. 50,665.64 million vs Rs. 50,076.45 million in the previous year, showing marginal growth. Profit after tax (PAT) increased to Rs. 2,849.60 million from Rs. 2,622.10 million, representing approximately 8.7% PAT growth. EBITDA margin compressed slightly to 13.02% from 13.80% in the previous year. The Board also approved the sale of the company's entire stake in associate ACP Tollways Pvt Ltd (84,95,040 equity shares) for Rs. 55 crore consideration against a carrying value of Rs. 26.03 crore. The real estate division reported a loss of Rs. 497.57 million. Statutory auditors issued an unmodified opinion on both standalone and consolidated financial results. Debt equity ratio improved significantly to 0.25 from 0.40.
The PAT growth of ~8.7% is positive but below expectations. EBITDA margin compression and the real estate division loss are concerns. The stake sale in ACP Tollways at a gain (~Rs. 29 crore) will be a one-time benefit but removes a profit contributor (7.78% of consolidated profit). Improved leverage metrics and clean audit opinion are reassuring for bondholders and equity investors.