Shares of Patel Engineering rose over 12% in early deals today after the civil construction firm reported a 83% rise in Q4 profit. Net profit climbed to Rs 141 crore in the last quarter against Rs 77 crore in the corresponding quarter of the previous fiscal. The multibagger stock rose 12.56% to Rs 65.95 against the previous close of Rs 58.59 on BSE. Market cap of Patel Engineering climbed to Rs 5,237 crore. The stock has gained 358% in three years and risen 153% in two years.
Total 13.13 lakh shares of the firm changed hands amounting to turnover of Rs 8.28 crore on BSE. Patel Engineering stock has gained 127% in a year but lost 4.62% since the beginning of this year. The share fell to a 52-week low of Rs 24.33 on May 23, 2023 and rose to a 52 week high of Rs 79 on February 6, 2024.
The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 50.2. It had a very high volatility of 1.3 in a year.
Patel Engineering shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Revenue from operations climbed 11.5% to Rs 1,343 crore compared to Rs 1,205 crore in the corresponding period of the preceding fiscal. EBITDA rose 41% to Rs 238 crore in the fourth quarter of this fiscal over Rs 168.7 crore in the corresponding period of the previous fiscal.
EBITDA margins climbed to 17.7% in Q4 compared to 14% in the corresponding period in the previous fiscal. The company's total order book as of March 31, 2024, stood at Rs 18,663 crore.
Patel Engineering is engaged in civil engineering and construction of hydro projects, dams, tunnels, roads, railways. It is also involved in real estate activities with owned or leased property.