Rs 20,806 crore order book: Vijay Kedia’s multibagger construction stock surges 9 per cent on outstanding results; hits 52-week high!

The stock is up by 90 per cent in just 1 month and over 170 per cent in 3 years.

Patel Engineering Ltd, one of the pioneers in integrated infrastructure and construction services in India has announced its financial results for the quarter and year ended March 31, 2023.   

Details Below  

Quarterly Updates: The net sales increased by 16.77 per cent to Rs 1,298.03 crore and the net profit skyrocketed 297.94 per cent to Rs 84.36 crore with EPS of Rs 1.56 in Q4FY23 compared to Q4FY22.   

Annual Updates: The net sales increased by 24.31 per cent to Rs 4,201.97 crore and the net profit skyrocketed 181.43 per cent to Rs 154.81 crore with EPS of Rs 3.19 in FY23 compared to FY22. The total order book as on March 31, 2023 stands at Rs 20,806.70 crore (including L1) which is at an all-time high.   

Rupen Patel, Chairman & Managing Director, Patel Engineering Limited said, “This year has been exciting with new projects coming onboard and taking our order book to an all-time high beyond Rs 20,000 crore. We have achieved improved revenue and profit figures showcasing the strength and resilience of our business in a competitive environment. I would also like to thank all stakeholders for their trust in us on our recent successful Rights Issue. Moving forward we remain committed to achieving exponential developments in the infrastructure segment of the country contributing to the overall economic development.”  

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On Monday, one of the Top Gainers on BSE, shares of Patel Engineering surges 9 per cent to a new 52-week high of Rs 28.99 per share. At the closing bell, shares of the company were in green, up 4.25 per cent to Rs 27.73 per share with a spurt in volume by more than 2.73 times on BSE.   

Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works.   

The stock is up by 90 per cent in just 1 month and over 170 per cent in 3 years. Patel Engineering, a multibagger stock endorsed by ace investor Vijay Kedia, should be kept under the radar.