Patel Engineering Ltd – Investor Presentation Summary

Key Operational Highlights

  • Subansiri Lower Hydropower Project reached 1,000 MW operational capacity with commissioning of Unit 4.
  • Kwar Hydropower Project dam concrete works crossed 50% completion with 32,000 CuM poured in April 2026.
  • Arun III Hydropower Project achieved 4 million safe man hours without Lost Time Incident (January 2025 – April 2026).
  • Construction began at 1,125 MW Dorjilung Hydropower Project in Bhutan.
  • Roof Truss Structure of the powerhouse completed at Parnai Hydropower Project.
  • Received EPC World Awards for Sela Tunnel Project and Assocham Achievers Awards for Tunnel T15 Project.
  • Non-Core Asset Monetization: Executed strategic monetization via sale of 27 acre land asset, unlocking INR 256 Mn in value.

Financial Highlights

Revenue: Rs. 12,807 Mn

EBITDA: Rs. 1,796 Mn

PAT: Rs. 935 Mn (Net Profit for Owners of Parent)

EPS: Rs. 0.94/Share

Margins: EBITDA Margin 14.02%, PAT Margin 7.30%

YoY comparison: Revenue growth 3.8% YoY, PAT growth 24.5% YoY, EBITDA growth 8.7% YoY

QoQ comparison: Revenue decline (9.9)% QoQ, PAT growth 30.8% QoQ, EBITDA decline (16.5)% QoQ

Drivers of financial performance: Higher revenue growth, lower finance costs (down 15.5% YoY), operational efficiencies

Key Risks: Not explicitly disclosed in presentation

Segment-wise Performance

Presentation does not provide segment-wise revenue breakdown for Q1 FY27. Order book segmentation provided:

  • Hydropower: 18 projects, INR 91,161 Mn (62.3% of total)
  • Irrigation: 21 projects, INR 24,162 Mn (16.5% of total)
  • Tunnel: 4 projects, INR 5,908 Mn (4.0% of total)
  • Urban Infrastructure & Others: 10 projects, INR 25,125 Mn (17.2% of total)

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not specified in presentation

Order book geographical distribution:

  • Domestic: 51 projects across 14 states, INR 141,857 Mn (96.9% of total)
  • International: 2 projects (Nepal and Bhutan), INR 4,499 Mn (3.1% of total)

Balance Sheet Snapshot

Net Debt/Equity: Not specified

Reserves: Not specified

Current Assets/Liabilities: Not specified

Working Capital/Leverage Metrics: Net Working Capital in days shown improving trend but specific values not provided

Financial Health Insights: Improving debt mix with lower long-term borrowings, credit rating upgraded to A with stable outlook

Capex & Cash Flow Health

Capital Expenditure: Not specified for Q1 FY27

Free Cash Flow: Not specified

Operating Cash Flow: Not specified

Net Debt Movement: Not specified

Investment Rationale: Focus on capacity expansion, technology upgrades in hydropower and tunneling segments

Strategic & R&D Initiatives

Investments in Innovation: Focus on technology-driven execution including tunneling, underground works, and advanced construction methods

Expected impact on growth: Positioned to benefit from India's infrastructure and hydroelectric capital expenditure cycle

Strategic Rationale: Focus on high entry-barrier segments including hydropower, pumped storage, and tunneling; maintain disciplined project selection focusing on scale, complexity, and profitability

Industry Trends & Business Environment

Macro/Industry Trends: Growing power demand, energy storage needs, government push for clean energy and infrastructure development

Impact on Company: Benefitting from strong policy support and infrastructure focus accelerating project development; well positioned for hydropower and pumped storage opportunities

Management Commentary & Growth Outlook

Strategic Outlook: Focus on high entry-barrier segments, build capabilities in technology-driven execution, leverage strong positioning in government-led infrastructure programs

FY Guidance: Not explicitly provided

Market Share Targets: Not specified

Risks and Opportunities: Not explicitly highlighted beyond general forward-looking statement disclaimer