Quarterly Results: Patel Engineering Ltd

CMP: Rs.15.05

The Net Loss of Patel Engineering  in the quarter ended March 2021 came out to be Rs.17.35 crore as against a net loss of Rs.62.48 crore during the previous quarter ended March 2020 - - showing an improvement in performance. 

Sales rose 30.30% to Rs.623.50 crore in the quarter ended March 2021 as against Rs.478.50 crore during the previous quarter ended March 2020.

However for the full year due to the Covid-19 impact the net loss came as Rs.138.39 crore in the year ended March 2021 as against net profit of Rs.37.16 crore during the previous year ended March 2020. 

Sales declined 26.31% to Rs.1719.12 crore in the year ended March 2021 as against Rs.2333.06 crore during the same period. 

Bottomline: Patel Engineering came out with a reasonably good results for the March, 2021 quarter inspite of Covid-19 pandemic. As the The effect of the pandemic ebbs, we will see further improvement in both its top and bottom lines. 

With the company having done OTS with its lenders, apart from having a good order book, the shares should cross Rs.50, by the end of this year.

Keep accumulating in all declines.