Q1 2025 Patel Engineering Ltd Earnings Call Transcript
Key Points
- Patel Engineering Ltd (BOM:531120) reported a net profit increase of 25.81% to INR48.17 crore for Q1 FY25 compared to INR38.29 crore in the corresponding period last year.
- The company has a robust order book of INR17,900 crores, with significant contributions from hydro (61%), irrigation (21%), and tunneling (11%).
- The company's debt-to-equity ratio improved from 0.67 to 0.42 over the last year, indicating better financial health.
- Patel Engineering Ltd (BOM:531120) successfully completed major milestones, including the T15 and Part T-14 tunnel projects in Jammu & Kashmir and the Arun III Hydropower Project in Nepal.
- The company raised equity of INR400 crores through QIB and realized INR238 crores from arbitration awards, aiding in debt reduction and working capital augmentation.
- Revenue from operations for Q1 FY25 was INR1,101 crores, slightly down from INR1,118 crores in Q1 FY24, indicating stagnant growth.
- The net profit on a stand-alone basis decreased to INR68 crores in Q1 FY25 from INR130 crores in Q1 FY24 due to an exceptional income of INR91 crores in the previous period.
- The company's gross debt remains high at INR1,500 crores, although it has reduced from INR1,955 crores a year ago.
- The order inflow was subdued last year due to elections, impacting the revenue growth for Q1 FY25.
- The company faces challenges in maintaining its EBITDA margin, which was 15.3% for Q1 FY25, only slightly up from 15.2% in the corresponding period last year.
Ladies and gentlemen, you are connected to the Patel Engineering Limited Q1 FY25 Results Conference Call hosted by Kirin Advisors. The call will be for 45 minutes only. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Jainam Savla from Karen Advisors.
Thank you, and over to you, sir.
Thank you. On behalf of Kirin Advisors, I welcome you all to the conference call of Patel Engineering Limited. Our management team, we have Ms. Kavita Shirvaikar, Managing Director; Mr. Rahul Agarwal, Acting Chief Financial Officer; and Mr. Aditya Bajaj, Investor Relations.
Now, I hand over the call to Mr. Kavita Shirvaikar. Over to you, ma'am.
Thank you. Good evening, everyone, and welcome to Patel Engineering Limited Q1 FY25 Earnings Call. We have provided the presentation summarizing the company's performance for Q1 FY25, along with the
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