Patel Engineering Q1 FY27: Higher Margins, Stronger Profit, and a Hydropower Heavy Order Book

Revenue from operations was INR 12,807 million, operating EBITDA was INR 1,796 million (14.02% margin), and net profit attributable to owners of the parent was INR 935 million.

The presentation reports a total order book of INR 1,46,356 million across 53 ongoing projects.

Hydroelectric 62.29%, Irrigation 16.51%, Tunnel 4.04%, Road 1.71%, and Urban Infrastructure and Others 15.45%.

On the call, the CFO stated revenue breakup as Hydropower 68%, Irrigation 15%, Tunneling 13%, and Roads, Urban Infrastructure and others 4%.

Management stated it remains confident of approximately 10% revenue growth in FY27, with EBITDA margins expected around 13% to 14%, and a larger contribution to growth expected in the second half.

Management stated a FY27 monetization target of INR 150 crore to INR 200 crore. In Q1 FY27, it reported monetization via sale of a 27 acre land parcel in Telangana for about INR 26 crore to INR 27 crore.

In the Q&A, the CFO said promoter pledge was around 85% to 90% and it is expected to come down by at least 15% to 20%, without giving an exact timeline.