Patel Engineering Ltd has initiated a postal ballot process to seek shareholder approval for two key resolutions, as disclosed in a recent notice to the stock exchanges.

Appointment of New Whole-Time Director

The company is seeking approval to appoint Mr. R.V.R. Kishore (DIN: 07402969) as a Whole-Time Director, designated as "Whole-time Director- Operations". Mr. Kishore, who joined the company on September 22, 2025, brings over 35 years of experience in infrastructure, including urban development, transport, tunneling, and power projects.

Key details of the proposed appointment:

• Term: 3 years from September 22, 2025
• Remuneration: Up to ₹4.00 crore annually, plus perquisites up to ₹25.00 lakh and performance incentives up to ₹50.00 lakh per annum

Salary Enhancement for Managing Director

The second resolution proposes to increase the salary limit for Ms. Kavita Shirvaikar (DIN: 07737376), the current Managing Director, from ₹4.00 crore to ₹4.50 crore per annum for her remaining tenure until March 31, 2027.

Voting Process

Shareholders can cast their votes through remote e-voting, which will be open from November 19 to December 18, 2025. The results are expected to be announced by December 20, 2025.

Company Performance

For context, Patel Engineering reported the following financial results for FY 2024-25:

These resolutions reflect Patel Engineering's efforts to strengthen its leadership team and retain key talent as it navigates the competitive infrastructure sector. Shareholders will play a crucial role in determining the outcome of these proposed changes in the company's executive structure and compensation.

Patel Engineering Limited , a leading infrastructure and construction services company in India, has reported mixed financial results for the second quarter of fiscal year 2026 (Q2 FY26).

Revenue Growth

The company's consolidated revenue from operations for Q2 FY26 stood at Rs. 1,208.47 crore, up 2.91% compared to Rs. 1,174.33 crore in Q2 FY25. For the first half of FY26 (H1 FY26), consolidated revenue grew 7.29% year-over-year to Rs. 2,441.91 crore.

Profitability Declines

Despite the revenue growth, Patel Engineering saw a decline in profitability:

• Consolidated operating EBITDA for Q2 FY26 was Rs. 158.67 crore, down 2.18% year-over-year, with the EBITDA margin contracting to 13.13% from 13.81% in Q2 FY25.
• Consolidated net profit after tax and share in profit/(loss) of associates from continued operations declined 0.57% to Rs. 73.03 crore in Q2 FY26.

Order Book Remains Strong

The company's order book as of September 30, 2025, stood at Rs. 15,146 crore, providing solid revenue visibility for the coming quarters. During H1 FY26, Patel Engineering received new orders worth approximately Rs. 2,500 crore.

Key Financial Highlights

Management Commentary

Kavita Shirvaikar, Managing Director of Patel Engineering, commented on the results: "We are pleased to report another quarter of consistent and resilient performance, marked by growth in revenues despite the operational challenges posed by prolonged monsoons across several project sites. This outcome underscores our unwavering commitment to operational excellence, disciplined project execution, and prudent financial management."

Outlook

The company remains optimistic about future growth prospects, citing robust infrastructure momentum across India. Patel Engineering is strategically positioned to capitalize on emerging opportunities, supported by its strong order book and diversified project portfolio.

About Patel Engineering Limited

Established in 1949, Patel Engineering Limited has evolved into a construction company specializing in hydropower and irrigation segments. The company is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other heavy civil engineering projects.

Investors and stakeholders should note that this article is based on the company's official financial results and statements. As always, it is advisable to conduct thorough research and consider various factors before making investment decisions.