Patels Airtemp (I) share price & results
- Mar 2026
- Jun 2026
Ahmedabad (Gujarat) engineering manufacturer of tailor-made heat exchangers and pressure vessels (ASME/National Board certified, HTRI-USA member) built to order across two Gujarat works.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 89.5 | −14.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 8.0 | −0.1 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 4.2 | −7.6% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +1.9 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | +1.9 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | +39.3 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance +11.6% 1Y
1Y: ₹309.75 on 24 Oct 2025 → ₹345.6. High ₹416.35 (23 Sept 2026), low ₹184.45 (30 Mar 2026).
- Previous close
- ₹347.6
- Market cap
- ₹165 Cr
- 52-week range
- ₹184.45 – ₹416.35
- One year
- +9.99%
Overview
- Symbol
- NSE:PATELSAI
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Patels Airtemp (I) Ltd. does
Based on the company's own presentations, annual report and earnings calls.
Patels Airtemp (India) Limited is an Ahmedabad, Gujarat-based engineering company engaged in manufacturing and fabricating tailor-made (custom, engineer-to-order) equipment, including heat exchangers such as blow-down heat exchangers, and holds ASME "U"/"U2"/"S" and National Board "NB"/"R" pressure-equipment certifications along with membership of the Heat Transfer Research Institute (HTRI), USA. It operates two manufacturing works, Rakanpur Works (Gandhinagar district) and Dudhai Works (Mehsana district), both in Gujarat, in addition to an A.C. Division at its registered office in Ahmedabad. The company sells its custom-built products in both domestic and export markets and also earns processing-charge (job-work) service revenue; because equipment is built to order, its business depends on the confirmed order book on hand rather than standardised repeat-product sales.
Segments
- Products
- Processing Charges (Services)
- A.C. Division
- Manufacturing works
- 2 — Rakanpur Works (Gandhinagar district) and Dudhai Works (Mehsana district), Gujarat
- Pressure-equipment code stamps
- ASME "U"/"U2"/"S"; National Board "NB"/"R"
- Quality management certifications
- ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
- Industry body membership
- Member of HTRI (Heat Transfer Research Institute), USA
- Sales markets
- Domestic and export markets
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2019 to Mar 2024).
Financials
What the filings say
Net profit, year on year: −8% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 114 | 82 | 88 | 104 | 83 | 22 | 59 | 90 |
| Expenses | 103 | 74 | 79 | 96 | 76 | 19 | 52 | 82 |
| Operating profit | 10 | 8 | 9 | 8 | 7 | 3 | 6 | 7 |
| Operating margin | 9.1% | 9.4% | 10.2% | 8.2% | 7.9% | 14.4% | 10.9% | 8.0% |
| Other income | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Interest | 3 | 3 | 4 | 2 | 2 | 2 | 4 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 7 | 4 | 5 | 6 | 4 | 2 | 3 | 5 |
| Tax rate | 25.5% | 25.7% | 18.1% | 27.6% | 31.5% | 61.2% | 12.2% | 18.1% |
| Net profit | 5 | 3 | 4 | 4 | 3 | 1 | 3 | 4 |
| EPS (₹ per share) | 9.25 | 5.76 | 6.97 | 8.21 | 5.12 | 1.21 | 4.86 | 7.59 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 303 | 281 | 371 | 388 | 253 |
| Expenses | 275 | 251 | 336 | 352 | 230 |
| Operating profit | 28 | 30 | 35 | 36 | 23 |
| Other income | 1 | 1 | 2 | 2 | 4 |
| Interest | 9 | 12 | 13 | 11 | 10 |
| Depreciation | 4 | 4 | 4 | 4 | 4 |
| Profit before tax | 17 | 15 | 20 | 22 | 14 |
| Net profit | 12 | 11 | 15 | 17 | 10 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 106 | 124 | 137 | 152 | 155 | 161 |
| Borrowings | 88 | 95 | 93 | 90 | 92 | 88 |
| Other liabilities | 86 | 136 | 136 | 61 | 47 | 43 |
| Total liabilities | 284 | 360 | 371 | 308 | 300 | 297 |
| Fixed assets | 47 | 47 | 45 | 44 | 44 | 45 |
| Capital work in progress | 0 | 0 | 0 | 0 | 2 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 237 | 313 | 326 | 264 | 255 | 250 |
| Total assets | 284 | 360 | 371 | 308 | 300 | 297 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 8 | -13 | 5 | 11 | 40 | 23 |
| Cash from investing | -9 | -6 | -3 | -1 | -1 | -3 |
| Cash from financing | 10 | 14 | 3 | -17 | -16 | -13 |
| Net cash flow | 9 | -5 | 5 | -7 | 23 | 6 |
| Free cash flow | -1 | -20 | 1 | 9 | 37 | 16 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|
| Debtor days | 157 | 141 | 131 | 110 | 144 | 105 |
| Inventory days | 309 | 260 | 258 | 189 | 314 | 253 |
| Days payable | 123 | 164 | 147 | 77 | 160 | 110 |
| Cash conversion cycle | 343 | 236 | 242 | 221 | 298 | 248 |
| Working capital days | 107 | 86 | 70 | 87 | 102 | 88 |
| Return on capital employed | — | 17.0% | 16.0% | 14.0% | 13.0% | 14.0% |
| Dividend payout | 17.0% | 11.0% | 11.0% | 11.0% | 15.0% | 11.0% |
What the price assumes
Growth trapTo justify its price of ₹346, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-9%. At that growth it is worth ₹100 — downside of 71%.
- Growth the price implies
- 14.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -7.0% a year
- net profit, FY22–FY26 · EPS -8.7%
- The gap
- 0.2 pp
- -71% downside if it only repeats history
Ownership
Who owns it
Public hold 53.41% as of Jun 2026; institutions added 0.07 pts since Mar 2026.
- Promoters 46.45%
- Foreign institutions 0.07%
- Domestic institutions 0.07%
- Government 0.00%
- Public 53.41%
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +0.63 pp 8.15% held
- +0.63 pp 2.14% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Patels Airtemp (I) Ltd. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 24.91% | unchanged | |
| 8.15% | +0.63 pp | |
| 5.30% | unchanged | |
| 3.38% | unchanged | |
| 2.40% | unchanged | |
| 2.39% | unchanged | |
| 2.14% | +0.63 pp | |
| 1.28% | unchanged | |
| 1.22% | unchanged | |
| 1.14% | unchanged | |
| 0.82% | unchanged | |
| 0.32% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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