Buy Patel Engineering, target price Rs 66: Anand Rathi

Anand Rathi has buy call on Patel Engineering with a target price of Rs 66. The current market price of Patel Engineering Ltd. is Rs 60.31.

Patel Engineering Ltd., incorporated in the year 1949, is a Small Cap company (having a market cap of Rs 4598.38 Crore) operating in Construction sector.

Patel Engineering Ltd. key Products/Revenue Segments include Income From Construction Work, Other Operating Revenue and Lease & Other Income for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 1076.12 Crore, up 2.87 % from last quarter Total Income of Rs 1046.10 Crore and up 1.16 % from last year same quarter Total Income of Rs 1063.75 Crore. Company reported net profit after tax of Rs 68.59 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 39.41 per cent stake in the company as of 31-Mar-2024, while FIIs owned 3.37 per cent, DIIs 0.41 per cent.