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Patels Airtemp (India) Ltd

PATELSAI
BSE
328.65
0.72%
Last Updated:
29 Apr '26, 4:00 PM
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Patels Airtemp (India) Ltd

PATELSAI
BSE
328.65
0.72%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
180Cr
Close
Close Price
328.65
Industry
Industry
Engineering - Light - General
PE
Price To Earnings
16.93
PS
Price To Sales
0.67
Revenue
Revenue
267Cr
Rev Gr TTM
Revenue Growth TTM
-33.00%
PAT Gr TTM
PAT Growth TTM
-36.69%
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PATELSAI
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
1018385871151148288104832259
Growth YoY
Revenue Growth YoY%
26.0134.15.635.914.137.0-3.91.3-9.9-27.3-73.1-33.5
Expenses
ExpensesCr
92757779104103747996761952
Operating Profit
Operating ProfitCr
98881110898736
OPM
OPM%
8.99.39.98.99.69.19.410.28.27.914.410.9
Other Income
Other IncomeCr
000110001111
Interest Expense
Interest ExpenseCr
333353342224
Depreciation
DepreciationCr
111111111111
PBT
PBTCr
544577456423
Tax
TaxCr
211122112110
PAT
PATCr
433355344313
Growth YoY
PAT Growth YoY%
18.954.613.346.623.458.1-5.111.1-5.3-44.7-79.0-30.2
NPM
NPM%
3.83.93.93.94.14.53.94.34.33.43.04.5
EPS
EPS
7.15.86.16.38.79.35.87.08.25.11.24.9

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
113127136158151237255303281371388267
Growth
Revenue Growth%
59.412.37.516.2-4.657.37.618.7-7.231.74.6-31.0
Expenses
ExpensesCr
98112119139134214229275251336352243
Operating Profit
Operating ProfitCr
141517201723262830353625
OPM
OPM%
12.711.812.712.411.59.710.29.310.79.59.29.2
Other Income
Other IncomeCr
001012111224
Interest Expense
Interest ExpenseCr
3235578912131110
Depreciation
DepreciationCr
223333344443
PBT
PBTCr
101112131115151715202215
Tax
TaxCr
344433444554
PAT
PATCr
6789711111211151711
Growth
PAT Growth%
33.015.310.78.8-15.054.50.69.1-9.831.312.4-35.7
NPM
NPM%
5.55.65.85.44.84.84.54.14.04.04.34.0
EPS
EPS
12.214.115.617.014.422.322.424.521.426.930.219.4

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
555555555555
Reserves
ReservesCr
48546269758494106124137152155
Current Liabilities
Current LiabilitiesCr
4429526499156167142209213134124
Non Current Liabilities
Non Current LiabilitiesCr
699101215163122161715
Total Liabilities
Total LiabilitiesCr
10497128148191261282284360371308300
Current Assets
Current AssetsCr
7766105126167223238221299321260254
Non Current Assets
Non Current AssetsCr
273124222438446361504847
Total Assets
Total AssetsCr
10497128148191261282284360371308300

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
08-3-57118-1351140
Investing Cash Flow
Investing Cash FlowCr
-1-6-1-1-3-17-9-6-3-1-1
Financing Cash Flow
Financing Cash FlowCr
7-181126-610143-17-16
Net Cash Flow
Net Cash FlowCr
6-166-410-129-55-723
Free Cash Flow
Free Cash FlowCr
-45-3-57118-135937
CFO To PAT
CFO To PAT%
-1.8112.3-40.6-63.890.297.874.4-103.243.076.1242.0
CFO To EBITDA
CFO To EBITDA%
-0.854.0-18.5-27.938.048.032.5-45.115.931.9112.3

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
74629282514168114113208263
Price To Earnings
Price To Earnings
12.08.611.69.66.93.66.09.210.114.215.9
Price To Sales
Price To Sales
0.70.50.70.50.30.20.30.40.40.60.7
Price To Book
Price To Book
1.41.01.41.10.60.50.71.00.91.51.7
EV To EBITDA
EV To EBITDA
5.44.45.85.24.03.24.26.96.58.49.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
44.343.947.547.743.940.042.837.638.234.134.4
OPM
OPM%
12.711.812.712.411.59.710.29.310.79.59.2
NPM
NPM%
5.55.65.85.44.84.84.54.14.04.04.3
ROCE
ROCE%
15.718.616.816.812.816.414.313.012.214.013.4
ROE
ROE%
11.612.111.811.69.212.611.411.28.610.310.5
ROA
ROA%
6.07.46.25.83.84.34.04.43.14.05.3
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Patels Airtemp (India) Ltd. is a public limited company operating in the engineering sector with over four decades of experience. The company specializes in the design, manufacturing, and supply of critical engineering equipment, serving as a **single-window solution provider** for industrial clients across domestic and international markets. It has established itself as a trusted name in the capital goods and industrial machinery space through innovation, quality certifications, and integrated project execution capabilities. --- ### **Business Segments & Product Portfolio** - **Single Engineering Segment**: The company operates exclusively in the engineering fabrication and manufacturing domain. - **Core Products**: - **Heat Exchangers**: Shell & Tube, Finned Tube, and **Air-Cooled Heat Exchangers (ACHEs)**. - **Pressure Vessels**. - **Air Conditioning & Refrigeration Equipment**. - **Turnkey HVAC Projects**. - These products serve key industrial sectors including: - Power - Refineries & Petrochemicals - Fertilizers & Chemicals - Cement - Pharmaceuticals - Textiles - Since inception, the company has supplied over **10,500 equipment units** to more than **550 clients** worldwide. --- ### **Manufacturing Infrastructure** - **Two Manufacturing Facilities**: 1. **Rakanpur Plant**: Located in Gandhinagar, Gujarat – the original manufacturing site. 2. **Dudhai Greenfield Unit**: Located in Kadi, Mehsana, Gujarat – established to decongest operations and expand capacity. - **Dudhai Unit Expansion**: - Total Covered Area: **11,016 sq. meters**. - Comprises **four manufacturing bays**, each with **40-ton lifting capacity**. - Dedicated to manufacturing **Air-Cooled Heat Exchangers** and other high-value engineering products. - **Total Capital Investment**: ₹24 crore (upgraded from initial ₹19.1 crore due to expansion). - Fully operational since 2022 and instrumental in scaling production and enhancing export readiness. --- ### **Strategic Growth Initiatives** #### **Geographic Expansion** - The company is actively pursuing **export-led growth**, targeting: - **Developed Markets**: USA, UK, Canada, Europe, and Singapore. - **Emerging Markets**: Nigeria, Indonesia, and Zambia. - The Dudhai unit positions the company to meet growing demand from both domestic clients and international buyers. #### **Quality & Compliance Certifications** - **ASME Stamps**: - ‘U’ (Pressure Vessels), - ‘U2’ (Pressure Vessels for External Pressure), - ‘S’ (Power Boilers), - **N & NPT** (Nuclear Power – one of only three Indian companies authorized). - **National Board Stamps**: ‘NB’ and ‘R’ – validating compliance with U.S. and international safety standards. - These certifications are crucial for **accessing regulated and high-value markets**, particularly for nuclear, power, and oil & gas applications. #### **Membership & Technology Partnerships** - **HTRI (Heat Transfer Research, Inc., USA) Member since 1992**: - Access to cutting-edge research and design methodologies in heat transfer technology. - **ISO 9001:2015 Certified** by **TÜV-SUD**, ensuring adherence to global quality management standards. #### **Engineering & Design Capabilities** - Utilizes **licensed engineering software** for precision design and simulation: - ANSYS (FEA and thermal analysis) - CREO (3D modeling) - PV Elite (vessel and exchanger design) - Nozzle Pro (stress analysis) - TEKLA (structural modeling) - Enables **engineering excellence**, innovation, and compliance with international codes (ASME, TEMA, API, EN). --- ### **Operations & Supply Chain Resilience** - The company has implemented an **Efficient Production Management System (EPMS)** to: - Better manage **raw material price fluctuations**. - Improve cost control, inventory planning, and scalability in response to rising order volumes. - This system supports long-term operational efficiency and resilience amid global commodity volatility and supply chain challenges. --- ### **Key Management** #### **Mr. Narayanbhai G. Patel – Chairman & Founder** - **57+ years** of experience in mechanical and refrigeration engineering. - Postgraduate specialization in **Air-Conditioning, Refrigeration, and Heat Transfer Equipment**. - Instrumental in securing the prestigious **ASME N-NPT stamp**, positioning the company among **India’s elite nuclear-grade equipment manufacturers**. - Provides strategic leadership in product development, quality, and market expansion. #### **Mr. Apurva V. Shah – Whole-time Director** - **Approx. 40 years** of industry experience. - Joined as **Senior Design Engineer (1992)**, later served as **Vice President (Operations)**, and became **Whole-time Director (2018)**. - Expertise in **thermal design, finite element analysis (FEA), and cost estimation** for pressure vessels and heat exchangers. - Proficient in **ASME, TEMA, API, and EN standards**. - Received **specialized training in the USA** on **air-cooled heat exchanger systems**. - Oversees design, production, and client solutions, driving innovation and operational excellence.