Patel Engineering FY26 Net Profit Rises 21.60% to ₹294.50 Cr; Q4 EBITDA Margin at 15.14%

Patel Engineering Limited has announced its audited financial results for the quarter and year ended March 31, 2026. The company reported a consolidated net profit of ₹294.50 crore for FY26, an increase of 21.60% compared to ₹242.17 crore in the previous year. Revenue from operations for the year stood at ₹5,102.74 crore, up from ₹5,093.36 crore in FY25.

Q4 and FY26 Performance

For the fourth quarter of FY26, the company achieved a net profit of ₹71.49 crore, a significant rise of 117.96% from ₹32.80 crore in the corresponding quarter of the previous year. Revenue from operations in Q4 FY26 was ₹1,421.48 crore compared to 16.12B Rupees in Q4 FY25. Operating EBITDA for the quarter stood at ₹215.23 crore with a margin of 15.14%, improving from 13.54% in Q4 FY25. For the full year, the operating EBITDA was ₹684.03 crore with a margin of 13.41%, while the net profit margin improved to 5.77% from 4.75% in FY25.

The following table summarises key financial metrics for Q4 and the full year:

Particulars Q4 FY26 Q4 FY25 FY26 FY25 Revenue from Operations (₹ Cr) 1,421.48 - 5,102.74 5,093.36 Net Profit (₹ Cr) 71.49 32.80 294.50 242.17 Operating EBITDA (₹ Cr) 215.23 - 684.03 - Operating EBITDA Margin (%) 15.14 13.54 13.41 - Net Profit Margin (%) - - 5.77 4.75

Operational Highlights

Patel Engineering secured new project orders worth approximately ₹4,400 crore during FY26. Its order book as of March 31, 2026, stands at ₹15,119 crore. The company achieved a milestone by commissioning the 4th Unit of the Subansiri Lower HEP, adding 1,000 MW to the national grid. Additionally, the company set a national record with 812 meters of TBM tunnelling in a month for the CIDCO TWT-II project.

Financial Health

Patel Engineering improved its debt-equity ratio to 0.27x in FY26 from 0.43x in the previous year. The company also realized approximately ₹185 crore through the monetization of non-core assets. The Board has approved the sale of its entire stake in associate company ACP Tollways Private Limited for ₹55 crore, subject to lender approvals.

Patel Engineering has been declared the lowest bidder (L1) for Package 2 of the 669 MW Lower Arun Hydropower Project in Nepal, valued at ₹1,593.08 crores. The company announced this significant contract win through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

Project Overview

The contract has been awarded by SJVN Lower Arun Power Development Company (P) Ltd., a wholly owned subsidiary of SJVN. The project details are outlined below:

Parameter: Details Contract Value: ₹1,593.08 crores (inclusive of VAT) Project Capacity: 669 MW Location: Sankhuwasabha District, Nepal Execution Period: 54 months Package Type: Civil and Hydro-mechanical Works

Scope of Work

Package 2 encompasses critical infrastructure components for the Lower Arun Hydro-Electric Project. The comprehensive scope includes construction of Adit-5 and Adit-6 leading to the Head Race Tunnel, along with the Part Head Race Tunnel measuring 10.5 meters in diameter and extending 5.41 kilometers.

Additional work components cover the Surge Shaft and its gates, Pressure Shaft with Butterfly Valve Chamber and Access Adit, Power House, Switchyard, Surface Pothead Yard, and Tail Race Channel. The package also involves installation of steel liners for Pressure Shafts, Draft Tube Gates and hoists, plus associated road works and supporting infrastructure.

Management Commentary

Ms. Kavita Shirvairkar, Managing Director of Patel Engineering, commented on the development: "We are pleased to begin Q1 FY27 on a positive note, having been declared L1 for this important order of approximately ₹1600 crores. Nepal holds immense hydroelectric potential, and the Lower Arun project is a significant step toward harnessing that energy for sustainable growth."

She further added that with ongoing work at the Arun-3 Hydropower project located just 35 kilometers from the Lower Arun site, the company is well-positioned to deliver world-class engineering and timely execution.

Strategic Significance

The project site is strategically located near Tumlingtar in Sankhuwasabha District of Nepal, approximately 264 kilometers from Siliguri, India. This international contract reinforces Patel Engineering's capabilities in the hydropower sector and strengthens its presence in the regional infrastructure market.

Patel Engineering, established in 1949, has completed over 85 dams, 40 hydroelectric projects, and more than 300 kilometers of tunneling works. The company maintains a strong track record in executing projects for central PSUs and state government organizations across domestic and international markets.

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