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Patel Engineering Limited
(PATELENG)
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Rating:64Neutral
Price Target:
₹25.00
▼(-10.84% Downside)
Action:Reiterated
Date:09/26/26
The score is driven mainly by improving underlying fundamentals and a de-risking balance sheet, offset by FY2026 margin and cash-flow deterioration that raises near-term execution risk. Technicals are mixed-to-soft (negative MACD and price below key longer-term averages), while valuation is supportive due to the low P/E.
Positive Factors
Deleveraging Balance Sheet
The sharp reduction in leverage materially lowers balance-sheet risk and improves financial flexibility. A stronger equity base and less reliance on debt should help Patel Engineering withstand project-cycle volatility, support future contract execution, and reduce pressure from financing obligations over the next several quarters.
Negative Factors
Revenue Growth Reversal
The shift from strong multi-year expansion to slightly negative revenue growth indicates that order execution or project progression is not currently translating into continued top-line momentum. If sustained, slower revenue absorption could limit operating leverage and make future profitability more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging Balance Sheet
The sharp reduction in leverage materially lowers balance-sheet risk and improves financial flexibility. A stronger equity base and less reliance on debt should help Patel Engineering withstand project-cycle volatility, support future contract execution, and reduce pressure from financing obligations over the next several quarters.
Read all positive factors
Patel Engineering Limited (PATELENG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹22.05B
Dividend Yield1.53%
Average Volume (3M)199.91K
Price to Earnings (P/E)7.6
Beta (1Y)1.42
Revenue Growth-1.44%
EPS Growth-0.65%
CountryIN
Employees4,580
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)3.06
Shares Outstanding992,141,900
10 Day Avg. Volume186,769
30 Day Avg. Volume199,905
Financial Highlights & Ratios
PEG Ratio5.47
Price to Book (P/B)0.45
Price to Sales (P/S)0.39
P/FCF Ratio17.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.8
Revenue Forecast (FY)₹51.55B
Patel Engineering Limited Business Overview & Revenue Model
Company Description
Patel Engineering Limited, alongside its various subsidiaries, provides a wide array of construction and infrastructure development services, operating both domestically within India and on an international scale. The company's diverse project und...
How the Company Makes Money
Patel Engineering Limited primarily makes money by executing infrastructure construction contracts awarded by government bodies, public-sector undertakings, and other project owners. Revenue is recognized from ongoing and completed projects under ...
Patel Engineering Limited Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
73
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.50B | 51.03B | 50.93B | 45.44B | 38.91B | 33.80B |
| Gross Profit | 8.33B | 8.29B | 13.99B | 12.52B | 6.35B | 9.36B |
| EBITDA | 7.31B | 6.84B | 7.49B | 7.96B | 6.76B | 6.13B |
| Net Income | 2.80B | 2.61B | 2.48B | 2.90B | 1.83B | 720.98M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 95.22B | 95.80B | 89.96B | 87.50B | 85.10B |
| Cash, Cash Equivalents and Short-Term Investments | 5.50B | 5.50B | 5.16B | 3.39B | 4.40B | 2.62B |
| Total Debt | 0.00 | 12.16B | 16.15B | 19.10B | 17.70B | 22.92B |
| Total Liabilities | -44.42B | 50.80B | 58.03B | 58.34B | 57.74B | 60.55B |
| Stockholders Equity | 44.42B | 44.40B | 37.85B | 31.54B | 28.88B | 23.84B |
Cash Flow | ||||||
| Free Cash Flow | 3.32B | 1.15B | 2.73B | 5.29B | 5.09B | 3.56B |
| Operating Cash Flow | 3.80B | 2.25B | 3.63B | 6.88B | 6.93B | 5.37B |
| Investing Cash Flow | -4.84M | -146.56M | -148.25M | -1.32B | -2.17B | -1.44B |
| Financing Cash Flow | -2.41B | -812.72M | -2.83B | -4.29B | -2.10B | -3.40B |
Patel Engineering Limited Technical Analysis
Negative
28.04
Price Trends
26.26
Negative
28.15
Negative
27.69
Negative
Market Momentum
-1.01
Positive
33.01
Neutral
30.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PATELENG, the sentiment is Negative. The current price of 28.04 is above the 20-day moving average (MA) of 24.64, above the 50-day MA of 26.26, and above the 200-day MA of 27.69, indicating a bearish trend. The MACD of -1.01 indicates Positive momentum. The RSI at 33.01 is Neutral, neither overbought nor oversold. The STOCH value of 30.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PATELENG.
Patel Engineering Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹22.05B | 7.60 | ― | 1.53% | -1.44% | -0.65% | |
56 Neutral | ₹27.03B | 1.09 | ― | 0.65% | -24.59% | 39.70% | |
56 Neutral | ₹73.27B | 10.47 | ― | 1.89% | -1.81% | -12.78% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹94.57B | 18.04 | ― | 1.89% | -9.92% | -21.60% | |
45 Neutral | ₹45.87B | 22.73 | ― | 1.34% | -20.64% | -12.46% | |
44 Neutral | ₹76.76B | 53.49 | ― | 0.96% | -11.87% | -73.37% |
* General Sector Average
IN:PATELENG
Patel Engineering Limited
23.25
-13.87
-37.37%
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96.30
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-49.91%
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17.51
-11.52
-39.68%
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100.55
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-40.75%
IN:NCC
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116.70
-94.05
-44.63%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.