After the civil construction company announced an 83% increase in Q4 profit, Patel Engineering's shares increased by more than 12% in early trading today. Compared to the same quarter in the previous fiscal year, when net profit was Rs 77 crore, it increased to Rs 141 crore in the most recent quarter. Compared to the previous closing on the BSE of Rs 58.59, the multibagger stock increased 12.56% to Rs 65.95. Patel Engineering's market value increased to Rs 5,237 crore. The stock has increased by 153% in the last two years and 358% in the last three.
13.13 lakh shares of the company were exchanged in total, translating into a BSE turnover of Rs 8.28 crore. Although Patel Engineering's stock has dropped 4.62% since the start of the year, it has gained 127% in the last 12 months.
On May 23, 2023, the share hit a 52-week low of Rs 24.33, and on February 6, 2024, it reached a 52-week high of Rs 79.
Technical indicators show that the stock is neither overbought nor oversold, with a relative strength index (RSI) of 50.2. It had a 1.3 year volatility, which is quite high.
In comparison to the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, and 200 day moving averages, Patel Engineering shares are now trading higher.
Operational revenue increased 11.5% to Rs 1,343 crore from Rs 1,205 crore in the same period of the previous fiscal year. In the fourth quarter of current fiscal year, EBITDA increased by 41% to Rs 238 crore from Rs 168.7 crore during the same time in the previous fiscal year.
EBITDA margins increased from 14% during the same time in the previous fiscal year to 17.7% in Q4. As of March 31, 2024, the business has an order book worth Rs 18,663 crore.
Patel Engineering works in civil engineering and builds highways, railroads, tunnels, dams, and hydro projects. It also engages in real estate-related businesses involving either leased or owned property.
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