Invested in this stock, my tracking.
Patel Engineering – https://pateleng.com/
Q3/23 Earning call highlights. (Feb 23)
- Mr Rupen Patel has not participated.
- Orderbook @ 16K
- Land parcels are being sold to reduce debt.
- Right issue, 1:2 at Rs 11 premium on 6/2/23, another at 7:5 at 8 Rs premium in 2019.
- JVs and others loss making assets are being trimmed to improve financial health.
- Too many questions on finance cost, Debt, right issue, Management commitments etc
Q4/24 Earning call highlights (May 24)
- QIP of 400 Cr raised at Rs 56.53.
- Order book 18,600 Cr as on march end 24.
- 130 Cr recd as arbitration with Govt. @ 300 Cr still pending, will be recd in next 3-4 years.
- FY 25 R guidance -10-15%/FY 26 R guidance 20-25%
- Next 3-4 years, debt to be reduced to @700-800 Cr, current debt 2600-2700 Cr. 5-6 year back it was 5500 Cr.
- 10% Equity participation in new Indian start up working in TBM servicing.
- Debt to EBITA ratio current 3-3.5, to be reduced to 2.25 by FY 26.
08/07/24 – Patel Engineering crashes 12% after CMD Rupen Patel death, pares YTD gains. Patel Engineering stock price hit a record high of Rs 740 on January 4, 2008, and an all-time low of Rs 0.69 on October 13, 1995. Patel Engineering stock hit a 52-week high of Rs 79 on February 6, 2024, and a 52-week low of Rs 34.95 on July 10, 2023.
Q1/25 Earning call audio recording
Patel Engineering Ltd Q1 FY2024-25 Earnings Conference Call
- Order book 17700 CR, @ 4 time annual revenue
- FY 24 revenue 4544 Cr, FY 25 10%, FY 26 20% increase, margin 14-15%
- Death of main promoter Mr Rupen Patel on 7/7/24.
- Concall assurance of the continuation of legacy in bid, competency and business.
- 50000 Cr tenders being quoted, success ratio @20-22%, Available opportunity 1.5L Cr.
- Hydro, irrigation and tunneling main focus area.
- Lesser orders received in Q1 due to election.
- Reduced interest burden due reduced debt on account of money received from arbitration and QIP. QIP issued at 56.53, 10.03% discount of last closing price (400 Cr.)
- Future growth expected from pumped hydro storage
- Expected order inflow of 10-12K Cr in FY 25.
- Average broker price target 75 by FY 25 end.
30 Aug 2024, 11:12AM
Patel Engineering Shares Gain @ 6.5% to 57.30 After Tie-Up With RVNL For Hydro, Infra Projects.
Sep 20 2024 | 1:33 PM IST
Patel Engineering stock gains: Shares of Patel Engineering rose sharply on September 20, 2024. The share surged up to 4.89 per cent to hit an intraday high of 60.39 per share.
The rise in Patel Engineering share price came after the company said that it has bagged an order worth Rs 240.02 crore from NHPC.
17/10/24 – Ircon International signs a memorandum of understanding (MoU) with Patel Engineering (+@4%. To 56.50) to collaborate on identifying, pursuing, and executing infrastructure projects in India and overseas.
30/10/24
Patel Engineering Limited has announced its decision to divest its remaining 9.99 per cent stake in Welspun Michigan Engineers Limited. This strategic move aligns with the company’s objective to optimize its investment portfolio and focus on core business activities. The sale is expected to be completed on November 7, 2024, and is anticipated to fetch a consideration of Rs 100 crore. Price reacted to +4% to 51.50
Q2/25 Result 13/11/24 and earning call highlights
Wednesday, 13th November 2024, at 05:00 PM IST
Share holding pattern and changes in last 4 quarters.
Summary Jun 2024 Apr 25, 2024 Mar 2024 Dec 2023
Promoter 36.1% 36.1% 39.4% 39.4%
Pledged 88.67% 88.67% 88.67% 88.67%
Locked 0.0% 0.0% 0.0% 0.0%
FII 3.7% 8.5% 3.4% 2.8%
DII 6.2% 7.1% 4.5% 5.6%
Public 49.6% 43.9% 47.9% 47.4%
Others 4.4% 4.4% 4.8% 4.8%
Big investor – Vijay Kedia – 1.42%, Anil vishanji dedhia 1.48%
Major event specific to Patel Engineering to be tracked.
- L1 to order conversion
- Tracking by – ICICI direct, Hem Securities, Anand Rathi.
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