Patel Engineering FY22 consolidated net profit up by 118.4 per cent
May 24, 2022
Mumbai (Maharashtra) [India], May 24 (ANI/PNN): Patel Engineering Limited (NSE - PATELENG and BSE - 531120), one of the most integrated infrastructure and construction services conglomerates in India, has announced its audited Financial Results for the 12 Month and Q4 FY22.
Consolidated financials for FY22:
* Consolidated revenue from operations for FY22 at Rs 3,380.29 crore; 69.5 per cent YoY growth
* Operating EBITDA for FY22 at Rs 527.72 crore; 124.9 per cent YoY growth
* EBITDA margin improved 380 bps to 15.6 per cent
* Net profit was at Rs 54.75 crore as against a loss of Rs 298.22 crore
* Total Order Book as on 31st March 2022 stands at ~ Rs 15,011 crore
* New Order inflow at Rs 2,318 crore, further Rs 2,880 crore L1 converted to orders subsequently
* Debt Equity Ratio stood at 0.8
Consolidated financials for 4QFY22
* Revenues were at Rs 1,111.66 crore; 51.5 per cent YoY growth
* Operating EBITDA were at Rs 154.81 crore; 97.5 per cent
* EBITDA margin improved 320 bps to 13.9 per cent
* Net profit was at Rs 21.2 crore as against a loss of Rs144.89 crore
Commenting on the performance, Rupen Patel, Chairman and Managing Director of Patel Engineering Limited said, "this improved performance of the Company is a result of hard work of the entire workforce of our organization and we expect to continue the momentum going forward in coming quarters. The focus of government towards infrastructure growth of the country shall enable us to get more orders in future and shall contribute towards steady growth of the Company in years to come."
Commenting on the result, Kavita Shirvaikar, Director and CFO, "Our focus on core construction business and continuous efforts to monetize our non-core assets has enabled us to achieve a good growth this year. With regular order inflows and focus on reduction of debt, we shall be able to achieve substantial growth in the future".
Patel Engineering Limited ('PEL' or 'Company'), is a 73-year company established in the year 1949 and have a strong presence in tunnels and underground works for hydroelectric and dam projects. The Company has a consistent track record in the execution of projects in the domestic and international arena. PEL have completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunneling for clients which are mostly central PSUs or state government organizations.
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