Patel Engineering Limited (PATELENG.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-0.2%

₹23.77

vs ₹23.81 price

Levered DCF

₹43.14

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	7.6×	13.99×	17.28×	4.69×	16.39×	-2.28×	39.13×	7.49×
P/B	0.45×	0.92×	1.57×	0.29×	0.59×	0.29×	0.2×	0.51×
P/S	0.39×	0.68×	1.09×	0.22×	0.41×	0.33×	0.21×	0.53×
EV / EBITDA	3.89×	6.25×	8.18×	3.56×	5.6×	21.97×	14.28×	5.97×
Gross margin	16.2%	27.5%	27.6%	16.3%	27.7%	24.7%	17.1%	30.1%
Operating margin	11.4%	8.0%	12.6%	10.2%	19.6%	8.6%	5.4%	16.6%
Net margin	5.1%	4.9%	6.4%	4.7%	2.1%	-14.6%	0.5%	7.1%
Current ratio	1.45×	1.57×	1.45×	1.44×	1.41×	1.46×	1.19×	1.27×
Debt / equity	0.27×	0.43×	0.61×	0.61×	0.96×	0.99×	0.91×	1.19×
Interest coverage	1.96×	1.27×	1.59×	0.96×	1.58×	0.43×	0.5×	0.97×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.9%	6.5%	9.2%	6.4%	3.0%	-12.5%	0.4%	6.8%
Return on invested capital	8.1%	4.5%	6.8%	5.1%	6.7%	2.3%	1.3%	5.3%
Return on assets	2.7%	2.6%	3.2%	2.1%	0.8%	-3.6%	0.1%	1.9%
Free cash flow yield	5.8%	7.9%	10.7%	60.1%	25.4%	38.5%	69.5%	44.7%
Earnings yield	13.2%	7.1%	5.9%	21.7%	5.1%	-43.9%	2.2%	13.3%
Enterprise value	₹26.6B	₹46.8B	₹65.2B	₹24.1B	₹34.3B	₹27.6B	₹27.1B	₹37.3B
Net debt / EBITDA	0.99×	1.62×	1.97×	2.31×	3.31×	16.69×	11.59×	4.12×
Cash conversion cycle (days)	-58	278	258	309	446	844	516	738