Patel Engineering Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

ITD Cementation India Ltd, Elecon Engineering Company Ltd, Paras Defence and Space Technologies Ltd and Jammu and Kashmir Bank Ltd are among the other losers in the BSE's 'A' group today, 08 July 2024.

Patel Engineering Ltd tumbled 9.29% to Rs 62.62 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 69.07 lakh shares were traded on the counter so far as against the average daily volumes of 14.28 lakh shares in the past one month.

ITD Cementation India Ltd crashed 6.98% to Rs 448.55. The stock was the second biggest loser in 'A' group.On the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 1.53 lakh shares in the past one month.

Elecon Engineering Company Ltd lost 6.81% to Rs 1282.4. The stock was the third biggest loser in 'A' group.On the BSE, 1.01 lakh shares were traded on the counter so far as against the average daily volumes of 46106 shares in the past one month.

Paras Defence and Space Technologies Ltd plummeted 5.51% to Rs 1460.4. The stock was the fourth biggest loser in 'A' group.On the BSE, 2.31 lakh shares were traded on the counter so far as against the average daily volumes of 2.48 lakh shares in the past one month.

Jammu and Kashmir Bank Ltd slipped 5.35% to Rs 106.1. The stock was the fifth biggest loser in 'A' group.On the BSE, 14.06 lakh shares were traded on the counter so far as against the average daily volumes of 3.26 lakh shares in the past one month.

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Meanwhile, the firm’s board approved several appointments as an ad hoc arrangement for seamless functioning after Rupen Patel’s passing.

Firstly, the company’s board appointed Janky Patel as an additional director/non-executive director, to be designated as ‘chairperson’ of the company effective from 6 July 2024 for a period of 3 years. Janky Patel is wife of Rupen Patel. She is a graduate from Mumbai University.

Further, the board appointed Kavita Shirvaikar as an acting managing director of the company effective from 6 July 2024. She stepped down from the position of chief financial officer (CFO).

Kavita Shirvaikar is a qualified chartered accountant and a graduate of the Institute of Cost & Works Accountants of India. She has vast experience of more than 20 years in the fields of accountancy, tax, audit, banking, finance and fund management, etc. She is currently whole time director & CFO of the company.

Lastly, the company’s board also appointed Rahul Agarwal as an acting CFO of the company effective from 6 July 2024. Pursuant to his appointment as CFO, he will be appointed as key managerial personnel and senior management personnel of the company.

Rahul Agarwal is a chartered accountant with more than 18 years of experience in the field of finance, investor relations, accounting, auditing including related legal, corporate and other structuring.

Patel Engineering is a civil construction company that specializes in hydropower and irrigation projects.

The company reported consolidated net profit of Rs 63.74 crore in Q4 FY24, down 22.6% from Rs 82.33 crore posted in Q3 FY24. Net sales increased by 5.4% year on year to Rs 12,56.92 crore in Q4 FY24 over Q3 FY23.

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Firstly, the company’s board appointed Janky Patel as an additional director/non-executive director, to be designated as ‘chairperson’ of the company effective from 6 July 2024 for a period of 3 years. Janky Patel is wife of Rupen Patel. She is a graduate from Mumbai University.

Further, the board appointed Kavita Shirvaikar as an acting managing director of the company effective from 6 July 2024. She stepped down from the position of chief financial officer (CFO).

Kavita Shirvaikar is a qualified chartered accountant and a graduate of the Institute of Cost & Works Accountants of India. She has vast experience of more than 20 years in the fields of accountancy, tax, audit, banking, finance and fund management, etc. She is currently whole time director & CFO of the company.

Lastly, the company’s board also appointed Rahul Agarwal as an acting CFO of the company effective from 6 July 2024. Pursuant to his appointment as CFO, he will be appointed as key managerial personnel and senior management personnel of the company.

Rahul Agarwal is a chartered accountant with more than 18 years of experience in the field of finance, investor relations, accounting, auditing including related legal, corporate and other structuring.

Patel Engineering is a civil construction company that specializes in hydropower and irrigation projects.

The company reported consolidated net profit of Rs 68.83 crore in Q3 FY24 steeply higher than Rs 24.34 crore recorded in Q3 FY23. Net sales jumped by 11% year on year to Rs 1,061.01 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.07% to end at Rs 69.03 on Friday, 5 July 2024.

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Net profit of Patel Engineering rose 53.05% to Rs 125.29 crore in the quarter ended March 2024 as against Rs 81.86 crore during the previous quarter ended March 2023. Sales rose 11.46% to Rs 1343.18 crore in the quarter ended March 2024 as against Rs 1205.06 crore during the previous quarter ended March 2023.

For the full year,net profit rose 61.36% to Rs 269.79 crore in the year ended March 2024 as against Rs 167.20 crore during the previous year ended March 2023. Sales rose 16.78% to Rs 4544.11 crore in the year ended March 2024 as against Rs 3891.15 crore during the previous year ended March 2023.

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