As of 6 Nov 2026, Patel Engineering trades at 8.6× trailing earnings, below the industry P/E of 16.4×, and the shares are 33% below their 52-week high. Its ROCE of 9.0% is the lowest among the 7 largest Engineering & Construction peers, and sales and net profit grew 8.6% and 14% a year over 3 years. Debt is 0.29× equity. It is a small-cap company with a market cap of ₹2,382 Cr, ranked 41st of 156 Engineering & Construction companies by market cap; the shares fell 33% over the past year.
- ₹24.35
- ₹25.20
- ₹24.00
- ₹24.51
- 45.4 L
Health check
- ReturnsBehind
−32.8% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 8.6 vs industry 16.4.
- GrowthSlow
Sales +8.6%, profit +13.6% a year over 3 years.
- ProfitabilityWeak
ROCE 9.0% vs peer median 19.9%.
- Balance sheetFair
Debt 0.29× equity, interest covered 2.2×, Piotroski 5 of 9.
- Red flags2 to check
Return on equity is low at 7.0%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,382 Cr
- Small cap
- P/E
- 8.6
- Industry 16.4
- Price to book
- 0.54
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 7.0%
- Peers 17.9%
- ROCE
- 9.0%
- Peers 19.9%
- Debt to equity
- 0.29
- Debt ₹1,356 Cr
- EPS (TTM)
- ₹2.91
- Face value ₹1
- OPM (TTM)
- 12.5%
- Net margin 5.9%
- Sales growth
- +3.8%
- Latest quarter vs a year ago
- Profit growth
- +21.7%
- Latest quarter vs a year ago
- Price to sales
- 0.46
- EV/EBITDA 4.9
Strengths and risks
Strengths
- Quarterly profit up 21.7% on a year ago.
- P/E of 8.6 against an industry P/E of 16.4.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 7.0%.
- 33% below its 52-week high.
About Patel Engineering
Patel Engineering Limited, together with its subsidiaries, provides infrastructure and construction services in India and internationally. The company operates through EPC and Real Estate segments. It undertakes construction of dams, tunnels, micro-tunnels, hydroelectric, irrigation, highways, roads, bridges, railways, refinery, real estate, and township projects. The company is also involved in residential and commercial developments, including…
- Headquarters
- Mumbai
- Employees
- 4,364
- Sector
- Industrials
- ISIN
- INE244B01030
- Website
- pateleng.com
Price range
- Avg volume (3M)
- 27.5 L
- 1-year return
- minus 32.8%
- From 52-week high
- minus 33.4%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| PATELENGPatel Engineering | 24.94 | plus 1.75% | 2,382 | 8.6 | 4.4 | 9.0% | 12.0% | 0.27 | 8.6% | minus 32.8% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,233 | 1,208 | 1,239 | 1,421 | 1,281 | |
| 1,068 | 1,050 | 1,095 | 1,260 | 1,101 | |
| 165 | 159 | 145 | 162 | 180 | |
| 13.4% | 13.1% | 11.7% | 11.4% | 14.0% | |
| 38.5 | 63.2 | 29.5 | 88 | 25.4 | |
| 73.1 | 76 | 68 | 79.4 | 61.8 | |
| 25.4 | 26.2 | 26.3 | 25.8 | 26.5 | |
| – | −30.9 | −43.1 | −88 | – | |
| 105 | 88.7 | 36.9 | 56.7 | 117 | |
| 24.0% | 27.0% | −152.6% | 43.7% | 21.2% | |
| 80.9 | 73 | 71.6 | 43.6 | 98.5 | |
| 0.85 | 0.77 | 0.78 | 0.42 | 0.94 |
Profit & loss
- Sales CAGR 3Y
- +8.6%
- Profit CAGR 3Y
- +13.6%
- EPS CAGR 3Y
- +7.4%
- ROE
- 7.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,655 | 4,222 | 4,507 | 4,678 | |
| – | +15.5% | +6.7% | +3.8% | |
| 3,095 | 3,492 | 3,712 | 3,958 | |
| 560 | 729 | 795 | 720 | |
| 15.3% | 17.3% | 17.6% | 15.4% | |
| 40.6 | 18 | 95.7 | 83.9 | |
| 337 | 293 | 260 | 233 | |
| 80.9 | 97.6 | 99.8 | 104 | |
| −0.4 | 48.5 | −205 | −180 | |
| 183 | 405 | 326 | 288 | |
| 21.3% | 25.6% | 27.5% | 6.2% | |
| 183 | 290 | 248 | 269 | |
| – | +58.2% | minus 14.6% | +8.6% | |
| 2.29 | 3.28 | 2.80 | 2.84 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 77.4 | 77.4 | 84.4 | 99.2 | |
| 2,811 | 3,076 | 3,700 | 4,341 | |
| 1,758 | 1,910 | 1,664 | 1,216 | |
| 4,111 | 3,933 | 4,131 | 3,866 | |
| 8,757 | 8,996 | 9,580 | 9,522 | |
| 1,519 | 1,534 | 1,482 | 1,444 | |
| 315 | 241 | 201 | 130 | |
| 284 | 231 | 149 | 53.5 | |
| 230 | 671 | 391 | 400 | |
| 6,408 | 6,320 | 7,356 | 7,495 | |
| 8,757 | 8,996 | 9,580 | 9,522 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 702 | 688 | 279 | 560 | |
| −224 | −132 | −14.8 | 85 | |
| −541 | −429 | −346 | −516 | |
| −63.3 | 126 | −81.3 | 129 | |
| −168 | −159 | −90.4 | −110 | |
| 534 | 529 | 189 | 450 |
Shareholding pattern
- Promoters31.48%
- Public64.78%
- Employee trusts3.74%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 31.48% | 64.78% | 0.00 | |
| 30 Jun 2026 | 31.48% | 64.78% | 0.00 | |
| 31 Mar 2026 | 31.48% | 64.78% | 0.00 | |
| 31 Dec 2025 | 31.48% | 64.78% | 0.00 | |
| 22 Dec 2025 | 31.48% | 64.78% | – |
Major shareholders
Filings & events
News
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