Slide 1: Intimation of Q4FY26 earnings conference call
CIN: L99999MH1949PLC007039 May 11, 2026 To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra - Kurla Complex, Mumbai - 400 001 Mumbai - 400 051 Company Code No. 531120 Company Code: PATELENG Dear Sir/Madam, Sub: Intimation of co
Slide 2: Invitation to Q4 FY26 earnings call
Patel Engineering Limited Cordially invites you to To Discuss The Financial Performance For Quarter And Year ended 31 st March, 2026 Day/Date: - Thursday, 14th May, 2026 Time: - 05:00 PM (IST) Patel Engineering Mrs. Kavita Shirvaikar Managing Director Mr. Rahul Agarwal - Chief Financial Officer We l
Slide 3: Investor Presentation May 2026
Patel Engineering Limited INVESTOR PRESENTATION April, 2026 INVESTOR PRESENTATION May 2026
Slide 4: Snapshot
Snapshot 75 + 350+ INR 1,51,193 Mn Years of Industry Projects Executed Total Order Book Presence 87+ 300+ 15,000+ Dams Constructed KM Tunnels MW Hydro Project 53 14 5.5+ States – Domestic Ongoing Projects Lakh Acres Irrigated Presence 2.96 2 1,200+ Nepal & Bhutan – KM of Roads Book-to-Bill (FY26) In
Slide 5: Q4-FY26 / FY26 Performance
Q4-FY26 / FY26 PERFORMANCE
Slide 6: Key Financials and Operational Highlights
Key Financials and Operational Highlights FY26 Consolidated Performance FY26 – Key Highlights Revenue from FY26 revenue at INR 51,207 Mn Vs INR 50,934 Mn in FY25. EBITDA EBITDA Margin Operations INR 51,027 Mn INR 6,840 Mn 13.40% (6.7)% YoY Diversified Order Inflow – ~ INR 44,000 Mn. 0.2% YoY (100) B
Slide 7: Key Ongoing Project Updates (1/2)
Key Ongoing Project Updates (1/2) Subansiri Hydropower Project Updates Kiru Hydropower Project Updates • Project Value: INR 20,421 Mn. • Project Value: INR 23,258 Mn. • Completion status: 99% • Completion status: 68% Other Update: Other Update: 4 out of 8 units commissioned supplying 1000 MW of clea
Slide 8: Key Ongoing Project Updates (2/2)
Key Ongoing Project Updates (2/2) Teesta VI Hydropower Project Updates Sleemanabad Irrigation Project Updates • Project Value: INR 14,462 Mn. • Project Value: INR 4,794 Mn. • Completion status: 62% • Completion status: 95% Other Update: Other Update: Breakthrough achieved between HRT Face 5A and Fac
Slide 9: Key Orders Received in Q4-FY26
Key Orders Received in Q4-FY26 Value LOA Received Projects Segment State (INR Mn) Himachal Renuka Ji Dam Project Hydropower 9,101* Pradesh Dorjilung Hydroelectric Power Project Project Hydropower Bhutan 2,307 TOTAL (A) 11,408 Value L1 Projects Segment State (INR Mn) Tasgaon Lift Irrigation - Maharas
Slide 10: New Project Orders Received in FY26
New Project Orders Received in FY26 Value Project Segment State (INR Mn) Urban Kondhane Dam Project Maharashtra 13,189 Infrastructure Arunachal HEO Hydropower Project Hydropower 7,113* Pradesh Nira Deoghar Right Bank Main Canal KM 87 to 135 Irrigation Maharashtra 1,917 TEESTA V Hydropower Project Hy
Slide 11: Order Intake & Order Backlog
Order Intake & Order Backlog Order Intake (At the end of each year, Values in INR. Mn) FY26 Segmental Order Intake – INR 44,008 Mn 50000 1.2 46,787 44,009 Irrigation, 45000 40,742 4.36% 1 40000 35000 0.8 Roads & 30000 Others, 25000 23,186 0.6 18.14% Hydroelectric, 20000 47.54% 0.4 15000 10000 0.2 Ur
Slide 12: Total Order Book
Total Order Book Segment Wise Order Book Client Wise Order Book Project Completion Status 5.28% 2.87% 2.65% 12.09% 1.42% 14.96% 4.76% 37.85% 30.38% 20.50% 16.19% 61.69% 62.66% 22.49% 4.20% Hydroelectric Irrigation Central Government / PSU’s State Government Below 10% 10% - 30% 30% - 50% Tunnel Road
Slide 13: Geographical Presence & Order Book Split
Geographical Presence & Order Book Split 53 Ongoing Projects spread across 14 states domestically and also Jammu and International presence in Nepal and Bhutan with a total project value Kashmir of INR 1,51,193 Mn Himachal Domestic Pradesh Arunachal Sr.No. State No. of Projects Project Value (INR Mn
Slide 14: Quarterly Consolidated Income Statement
Quarterly Consolidated Income Statement Particulars (INR Mn) Q4-FY26 Q4-FY25 Y-o-Y Q3-FY26 Q-o-Q Revenue From Operations 14,215 16,119 (11.8)% 12,394 14.7% Total Expenses 12,063 13,936 (13.4)% 10,946 10.2% Operating EBITDA 2,152 2,183 (1.4)% 1,448 48.6% EBITDA Margins (%) 15.14% 13.54% 160 Bps 11.68
Slide 15: Annual Consolidated Income Statement
Annual Consolidated Income Statement Particulars (INR Mn) FY26 FY25 Y-o-Y Revenue From Operations 51,027 50,934 0.2% Total Expenses 44,187 43,602 1.3% EBITDA 6,840 7,332 (6.7)% EBITDA Margins (%) 13.40% 14.40% (100) Bps Depreciation and Amortization 1,037 998 3.9% Finance Costs 2,964 3,224 (8.1)% Ot
Slide 16: Company Overview
COMPANY OVERVIEW
Slide 17: Company Overview
Company Overview • Established in 1949, Patel Engineering Limited (PEL) is a leading integrated infrastructure and Revenue & EBITDA Margin engineering, procurement, and construction company, headquartered in Mumbai, with over 50,934 51,027 75 years of experience. 45,441 38,911 • Has completed over 3
Slide 18: Board of Directors & Key Managerial Persons
Board of Directors & Key Managerial Persons Janky Patel | Chairperson & Non- Kavita Shirvaikar | Managing Kishan Lal Daga | Whole Time R V R Kishore | Whole Time Director- Ms. Sudha Navandar | Independent Executive Director Director Director Operations Director Non-Executive Chairperson "Continuing
Slide 19: Marquee Clientele
Marquee Clientele Madhya Pradesh Water Resources Department Investor Presentation 17
Slide 20: Marquee Projects Executed
Marquee Projects Executed Sawrakuddu HE Project - Himachal Pradesh (111 MW) Koyna HE Project - Maharashtra (260MW) First Piano Key Weir in India First Lake Tapping in Asia. Rampur HE Project - Himachal Pradesh (432 Mw) Srisailam HE Project - Andhra Pradesh (900 MW) Ghatghar Dam – Maharashtra 84m hig
Slide 21: Awards & Accolades
Awards & Accolades Recognized as the Recognized as the Fastest Growing Awarded “Quality “Best Emerging Construction Innovation Award Economy - Company - Medium 2025” by the Infrastructure Category at the Institution of Enterprise of India”, Prestigious 23rd Engineers (India) at the 10th Shastra Cons
Slide 22: Business Overview
BUSINESS _ OVERVIEW
Slide 23: Business Overview
Business Overview Hydropower & Dam Irrigation & Water Infrastructure Infrastructure • Dams, Underground Works & • Canal Networks & Water Powerhouses Distribution Systems • Tunnelling-Intensive Hydro • Large-Scale Government Projects Irrigation Projects • Government & PSU-Led Projects • Water Resourc
Slide 24: Hydropower & Dam Infrastructure
Hydropower & Dam Infrastructure • Execution of large-scale hydropower and pumped storage engineering, procurement and construction Revenues (INR Mn) 28,145 projects. 24,593 22,061 • Involvement across critical hydro infrastructure components, including dams, tunnels, and underground 20,104 powerhous
Slide 25: Irrigation & Water Infrastructure
Irrigation & Water Infrastructure Revenues (INR Mn) • Execution of large-scale irrigation and water infrastructure projects across India. 13,251 • Focus on development of canal networks, water distribution systems, and associated civil works. 11,387 10,658 • Focus on improving water-use efficiency t
Slide 26: Tunnelling & Underground Engineering
Tunnelling & Underground Engineering Revenues (INR Mn) • Specialised engineering segment focused on underground infrastructure across hydropower and transportation projects. 8,384 7,506 • Expertise in advanced tunnelling techniques including tunnel boring machine and drill-and-blast methods. 6,350 5
Slide 27: Transportation, Urban Infrastructure & Others
Transportation, Urban Infrastructure & Others Revenues (INR Mn) • Execution of transportation infrastructure projects including roads, bridges, rail tunnels, urban connectivity works and others. 7,739 • Participation in highway, railway, and metro-related projects across multiple regions. 6,372 5,48
Slide 28: Strategic Overview
STRATEGIC OVERVIEW
Slide 29: Focused Strategy to Drive Sustainable Growth
Focused Strategy to Drive Sustainable Growth Build capabilities in technology- Focus on high entry-barrier driven execution including segments including hydropower, pumped storage, and tunneling 01 04 tunneling, underground works, and advanced construction methods Leverage strong positioning in Main
Slide 30: Strengthening Balance Sheet & Credit Profile
Strengthening Balance Sheet & Credit Profile Debt Breakup (INR Mn) Total Debt Plus Advances (INR Mn) 22,616 36,067 18,932 29,881 17,521 26,533 16,025 13,451 12,210 22,670 11,870 12,360 7,601 18,092 10,671 11,197 6,645 10,015 6,222 8,469 22,616 10,406 17,521 18,932 16,025 6,850 7,735 6,010 11,870 3,4
Slide 31: Industry Overview
INDUSTRY OVERVIEW
Slide 32: Hydro Power Overview
Hydro Power Overview Hydro power – a keen effort by the government to boost energy generation Share in Total Power Generation installed Capacity • With a total installed capacity of ~56 GW, India is the fifth-largest hydropower producer globally 2% • India’s hydropower potential is around 1,45,000 M
Slide 33: Pumped Hydropower Storage (PHS)
Pumped Hydropower Storage (PHS) PHS – a key facilitator of variable renewable energy (VRE) in India • VRE such as wind and solar are being connected to the grid at a rapid pace owing to their low cost of installation and the thrust on sustainable & green energy • Due to dependency of VRE on time / s
Slide 34: Indian Infrastructure & Power – Industry Overview
Indian Infrastructure & Power – Industry Overview Infra Budget Outlay (INR Tn) Record Central Capex National Infrastructure Favourable Policy & The Multiplier Outlay Pipeline (NIP) Expansion Financing Tailwinds Effect 12.2 11.1 11.2 10.0 • Union Budget 2026- • 13,000+ projects, • Infra risk 27 alloc
Slide 35: Financial Overview
FINANCIAL OVERVIEW pep eT
Slide 36: Historical Consolidated Income Statement
Historical Consolidated Income Statement Particulars (INR Mn) FY23 FY24 FY25 FY26 Revenue From Operations 38,911 45,441 50,934 51,027 Total Expenses 33,295 38,538 43,602 44,187 EBITDA 5,616 6,903 7,332 6,840 EBITDA Margins (%) 14.43% 15.19% 14.40% 13.40% Depreciation and Amortization 809 976 998 1,0
Slide 37: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR Mn) FY25 FY26 Particulars (INR Mn) FY25 FY26 EQUITY 37,768 44,420 Non - Current Assets 39,492 40,904 a) Property Plant & Equipment 12,827 12,550 a) Equity Share Capital 844 992 b) Capital Work in Progress 1,710 1,260 b) Other Equity 37,002 43,408 c) Other
Slide 38: Financial Performance
Financial Performance Revenue from Operation (INR Mn) EBITDA (INR Mn) & EBITDA (%) PAT (INR Mn) & PAT (%)# 7,332 50,934 51,027 6,903 6,840 3,016 2,945 45,441 5,616 2,362 38,911 14.43% 15.19% 14.40% 1,437 13.40% 6.64% 4.64% 5.77% 3.69% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Net W
Slide 39: Capital Market Data
Capital Market Data Share Price up to 31st March, 2026 20% 10% 0% -10% -20% -30% -40% -50% Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Patel Engineering Sensex Price Data (As on 31st March, 2026) INR Shareholding Pattern (As on 31st March 2026) Face Value 1.00
Slide 40: Disclaimer
Disclaimer Patel Engineering Ltd No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events n
Slide 41: Thank You
ae tL LL hie Trt THANK YOU
Slide 42: Q4 FY26 Earnings Conference Call Transcript
Patel Engineering Limited Q4 FY’26 Earnings Conference Call May 14, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Patel Engineering Limited Q4 FY 2026 Earnings Conference Call hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode and the
Slide 43: Transcript Page 2 of 15
analysts joining us here. We truly appreciate your continued trust, encouragement, and support towards Patel Engineering. We have uploaded our Investor Presentation along with the Financial Results on the Stock Exchange for your reference. I will begin by taking you through the key highlights for th
Slide 44: Transcript Page 3 of 15
In Sikkim, we secured the INR 240 crore Teesta-V power station project from NHPC, involving tunnel spillway construction and associated infrastructure work. In the irrigation segment, we secured around INR 958 crore Nira Deoghar Right Bank Main Canal project from Maharashtra Krishna Valley Developme
Slide 45: Transcript Page 4 of 15
On the hydropower front, work at Subansiri Lower Hydroelectric Project continues to progress well. With the recent commissioning of Unit-4, the project now has four operational units contributing 1,000 megawatts of clean energy to the national grid. Work on the balance units is also progressing stea
Slide 46: Transcript Page 5 of 15
These projects are expected to generate substantial opportunities in transportation, tunnelling and underground infrastructure. Now coming to hydropower: We continue to remain extremely positive on the hydropower opportunities both with India and internationally. Agencies such as NHPC, SJVNL,NEEPCO
Slide 47: Transcript Page 6 of 15
assets and realized approximately INR 185 crores. This included around INR 135 crores from land sale and around INR 50 crores through arbitration awards under NITI Aayog. We also successfully completed our right issue during the year. The inflows from the rights have been significantly strengthened
Slide 48: Transcript Page 7 of 15
On a standalone basis, revenue is INR 5,066 crores as compared to INR 5,007 crores in FY’25, operating EBITDA stands at INR 659 crores with a margin of 13%, profit after tax is INR 319 crores compared to INR 259 crores in FY’25. Sector wise revenue breakup is: Hydropower 55%, Irrigation 23%, Tunnell
Slide 49: Transcript Page 8 of 15
Pritesh Chheda: Sir, what was the market share that you had in the hydropower order wins that you have which is INR 4,400 minus INR 800, so about INR 3,600 crores of inflows. So, what was the market share? Rahul Agarwal: So, see, if you talk about the success ratio last year, if we exclude one large
Slide 50: Transcript Page 9 of 15
Moderator: Thank you. The next question comes from the line of Ritesh Poladia with Girik Capital. Please go ahead. Ritesh Poladia: Yes. I just wanted to know about your exceptional items. There is a debt and advance return of INR 153 crores this year. Last year it was INR 270 crores, INR 280 crores.
Slide 51: Transcript Page 10 of 15
Moderator: Thank you. The next question comes from the line of Viraj Mahadevia with MoneyGrow. Please go ahead. Viraj Mahadevia: Hi, congratulations to the team on the stable results and particularly the high free cash flow generation. I want to understand, Rahul, what is driving this high free cash
Slide 52: Transcript Page 11 of 15
Rahul Agarwal: Yes. So, INR 50 crores was for arbitration, which we got against BG, INR 135 crores was for land bank. Viraj Mahadevia: Understood. So, you are guiding towards a similar number for next year between the two? Rahul Agarwal: Correct. Viraj Mahadevia: And that will be prioritized to repa
Slide 53: Transcript Page 12 of 15
Rajiv: But that you have said earlier. So, by when can that come down and by what percentage? Could you give a timeline to that? Kavita Shirvaikar: So, at present, we will not be able to give the exact timeline, but our endeavor is to reduce gradually. Rajiv: That, ma'am, you have been saying for th
Slide 54: Transcript Page 13 of 15
for procurement of material. So that also carries the cost. So, on an annual basis, I can give you a broad breakup. Like around INR 70 odd crores is for the non-fund-based limits. Then around balance, what is remaining, if you add up the debt and the client advances, the average interest rates will
Slide 55: Transcript Page 14 of 15
Rajiv: Okay, so what is regarding the service apartment? It is lying vacant or what is happening on that tower? Is it complete? What is happening? Rahul Agarwal: Yes, it is completed from our side everything. Now the service apartment operator has to start it. Rajiv: Okay, so what kind of revenue ca
Slide 56: Transcript Page 15 of 15
It takes a little bit of time. We have been doing that every year. Like this year also, we sold some land parcels. Current, again, this year we are expecting some land parcels to be sold. But we can’texpect that, okay, this quarter we need the money and it will come this quarter from land sale. Raji