New Delhi, 16th, May 2023:Patel Engineering Limited (NSE – PATELENG & BSE – 531120), one of the pioneers in integrated infrastructure and construction services in Indiahas announced its financial results for the quarter and year ended March 31, 2023.
Key Financials at a Glance:
Rs. In million
| Particulars
(Rs Mn) |
Consolidated | Standalone | ||||
| FY23 | FY22 | YoY Changes | FY23 | FY22 | YoY Changes | |
| Revenue from Operations | 42,019.71 | 33,803.05 | 24.31% | 38,171.26 | 30,298.46 | 25.98% |
| Operating EBITDA | 6,248.76 | 5,277.32 | 18.41% | 5,404.78 | 4,575.35 | 18.13% |
| Net Profit | 1,548.06 | 550.06 | 181.43% | 1,558.53 | 563.91 | 176.38% |
| Net Profit % | 3.68% | 1.63% | 4.08% | 1.86% | ||
| Basic EPS (Rs) | 3.19 | 1.51 | 168 bps | 2.97 | 1.17 | 180 bps |
| Diluted EPS (Rs) | 2.23 | 1.49 | 74 bps | 2.10 | 1.17 | 93 bps |
| Particulars
(Rs Mn) |
Consolidated | Standalone | ||||
| Q4 FY23 | Q4 FY22 | YoY Changes | Q4 FY23 | Q4 FY22 | YoY Changes | |
| Revenue from Operations | 12,980.34 | 11,116.60 | 16.77% | 11,921.83 | 10,428.40 | 14.32% |
| Operating EBITDA | 1,805.65 | 1,548.10 | 16.64% | 1,760.03 | 1,551.80 | 13.42% |
| Net Profit | 843.64 | 212.00 | 297.94% | 840.83 | 368.64 | 128.09% |
| Net Profit % | 6.50% | 1.91% | 7.05% | 3.53% | ||
| Basic EPS* (Rs) | 1.56 | 0.80 | 94 bps | 1.59 | 0.78 | 81 bps |
| Diluted EPS* (Rs) | 1.02 | 0.80 | 22 bps | 1.04 | 0.78 | 26 bps |
*not annualized
Rupen Patel, Chairman & Managing Director, Patel Engineering Limited said,“This year has been exciting with new projects coming onboard and taking our orderbook to an all-time high beyond Rs. 2,00,000 Mn. We have achieved improved revenue and profit figures showcasing the strength and resilience of our business in a competitive environment. I also like to thank all stakeholders for their trust in us on our recent successful Rights Issue. Moving forward we remain committed to achieving exponential developments in the infrastructure segment of the country contributing to the overall economic development.”
Commenting on the result, Ms. Kavita Shirvaikar, Director & CFO said, “I am extremely pleased to share the outstanding Q4 & FY 23 results we have achieved. The quarter has been incredible with the winning of water tunnel and irrigation projects in Maharashtra, Karnataka, and Madhya Pradesh. With such a steady stream of orders, we believe our revenue will increase significantly. Also,we continue with our efforts to monetize non-core assets and have reduced debt by more than Rs. 5,000 million in FY23 and we expect to continue further reduction in overall debt going forward.”