Patel Engineering Q3 FY26: Revenue ₹12,394 Cr, Net Profit ₹706 Cr
Patel Engineering reported Q3 FY26 consolidated revenue of ₹12,394 crore and net profit of ₹706 crore. Standalone net profit rose to ₹887 crore. The company secured a new ₹1,700 crore hydro project and a ₹7,982 crore mining contract. A rights issue of ₹399 crore was successfully completed.
The company has secured new significant projects and successfully completed a rights issue, which strengthens its financial position and provides visibility for future earnings. The mixed financial results prevent a 'HIGH' impact, but the positive developments justify a 'MEDIUM' impact.
The results show a mixed performance with revenue growth but a decline in operating EBITDA and net profit on a consolidated basis. However, standalone net profit saw a significant increase. New project wins and successful fundraising are positive, but the consolidated profit dip warrants a neutral sentiment.
Patel Engineering Limited has submitted an Investor/Analysts presentation for the quarter and nine months ended December 31, 2025 (Q3 FY26).
The company reported consolidated operating revenue of ₹12,393.53 Mn (₹1239.35 crore) for Q3 FY26, a marginal increase of 2.81% from ₹12,055.16 Mn (₹1205.52 crore) in Q3 FY25. However, operating EBITDA saw a decline of 21.31% to ₹1,447.95 Mn (₹144.80 crore) from ₹1,839.97 Mn (₹184.00 crore) in the previous year, with the operating EBITDA margin contracting to 11.68% from 15.26%.
Consolidated net profit attributable to owners of the parent decreased by 12.27% to ₹705.64 Mn (₹70.56 crore) in Q3 FY26, compared to ₹804.29 Mn (₹80.43 crore) in Q3 FY25. Basic EPS stood at ₹0.82.
On a standalone basis, revenue from operations increased by 3.68% to ₹12,305.29 Mn (₹1230.53 crore) in Q3 FY26 from ₹11,868.41 Mn (₹1186.84 crore) in Q3 FY25. Standalone operating EBITDA decreased by 20.63% to ₹1,392.30 Mn (₹139.23 crore). Standalone net profit after OCI saw a significant jump of 20.16% to ₹886.91 Mn (₹88.69 crore) from ₹738.09 Mn (₹73.81 crore) in Q3 FY25. Basic EPS was ₹1.03.
The company's order book as of Q3 FY26 stands strong at ₹1,51,232 Mn (₹15,123.2 crore).
Key operational highlights include progress at Subansiri HEP with wet commissioning of units, significant concrete pouring at Kiru HEP, completion of excavation at Kwar HEP, breakthrough at Parnai HEP, and completion of NATM works at PGRW Water Tunnel Project.
Patel Engineering also announced the signing of an MoU for the Gongri Hydro Electric Project (144 MW) with an estimated value of ₹1,700 crore and a timeline of approximately 4 years. Additionally, they received a Letter of Award for the Jhiria West OCP project worth ₹7,981.86 Mn (₹798.19 crore) with a 9-year timeline.
The company successfully completed a rights issuance of ₹3,989.68 Mn (₹398.97 crore), which was subscribed 1.15x, with funds to be used for debt repayment and general corporate purposes. The company's long-term credit rating remains 'A-' with a stable outlook.
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Patel Engineering Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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