About
Patels Airtemp (India) Limited manufactures and sells heat exchangers, pressure vessels, and air-conditioning and refrigeration equipment in India, Canada, the United States, Zambia, the United Kingdom, the Netherlands, Israel, Singapore, and Thailand. The company offers air cooled heat exchangers, shell and tube heat exchangers, ambient air heaters, air cooled condensers, and shell and fin tube heat exchangers. It also undertakes various turnkey HVAC projects. The company serves refineries, fertilizers, cements, petrochemicals, pharmaceuticals, textiles, oil and gas, chemical industries, and compressor OEMs, as well as nuclear and thermal power industries. It also exports its products. Patels Airtemp (India) Limited was founded in 1973 and is based in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap153 Cr
P/E10.40
Div Yield1.07 %
Book Value₹261.00
52w High₹420.00
52w Low₹180.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Dec 2023 | Sep 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sep 2022 | Jun 2022 | Mar 2022 | Dec 2021 | Sep 2021 | Jun 2021 | Mar 2021 | Dec 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 87.27 | 85.23 | 82.83 | 101.19 | 64.20 | 80.71 | 35.38 | 80.29 | 113.22 | 61.37 | 48.33 | 72.10 | 83.13 |
| Expenses | 79.53 | 76.76 | 75.11 | 92.23 | 56.67 | 72.68 | 29.71 | 73.06 | 105.31 | 54.68 | 41.86 | 64.80 | 76.02 |
| Operating Profit | 7.74 | 8.47 | 7.72 | 8.96 | 7.53 | 8.03 | 5.67 | 7.23 | 7.91 | 6.69 | 6.47 | 7.30 | 7.11 |
| OPM % | 8.87 | 9.94 | 9.32 | 8.85 | 11.73 | 9.95 | 16.03 | 9.00 | 6.99 | 10.90 | 13.39 | 10.12 | 8.55 |
| Other Income | 0.56 | 0.15 | 0.26 | 0.26 | 0.44 | 0.29 | 0.50 | 0.61 | 0.16 | 0.18 | 0.18 | 0.17 | 0.16 |
| Depreciation | 1.03 | 1.04 | 1.03 | 0.95 | 1.05 | 1.05 | 1.06 | 1.13 | 0.83 | 0.83 | 0.83 | 0.88 | 0.86 |
| Interest | 2.59 | 3.12 | 2.63 | 2.89 | 3.59 | 3.44 | 2.31 | 2.24 | 1.92 | 2.51 | 2.35 | 2.35 | 1.96 |
| Profit before tax | 4.68 | 4.46 | 4.32 | 5.38 | 3.33 | 3.83 | 2.80 | 4.47 | 5.32 | 3.53 | 3.47 | 4.24 | 4.45 |
| Tax % | 27.99 | 25.56 | 25.93 | 29.00 | 29.73 | 23.50 | 25.71 | 28.19 | 25.75 | 25.50 | 25.94 | 29.25 | 25.17 |
| Net Profit | 3.37 | 3.32 | 3.20 | 3.82 | 2.34 | 2.93 | 2.07 | 3.21 | 3.95 | 2.63 | 2.57 | 3.01 | 3.33 |
| EPS in Rs | 6.16 | 6.07 | 5.85 | 6.98 | 4.28 | 5.78 | 4.08 | 6.33 | 7.79 | 5.19 | 5.07 | 5.94 | 6.57 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 |
|---|---|---|---|---|---|---|
| Sales | 371.00 | 281.00 | 303.00 | 255.00 | 237.00 | 151.00 |
| Expenses | 336.00 | 251.00 | 275.00 | 229.00 | 214.00 | 134.00 |
| Operating Profit | 35.00 | 30.00 | 28.00 | 26.00 | 23.00 | 17.00 |
| OPM % | 9.00 | 11.00 | 9.00 | 10.00 | 10.00 | 12.00 |
| Other Income | 2.00 | 1.00 | 1.00 | 1.00 | 2.00 | 1.00 |
| Interest | 13.00 | 12.00 | 9.00 | 8.00 | 7.00 | 5.00 |
| Depreciation | 4.00 | 4.00 | 4.00 | 3.00 | 3.00 | 3.00 |
| Profit before tax | 20.00 | 15.00 | 17.00 | 15.00 | 15.00 | 11.00 |
| Tax % | 27.00 | 27.00 | 26.00 | 26.00 | 24.00 | 30.00 |
| Net Profit | 15.00 | 11.00 | 12.00 | 11.00 | 11.00 | 7.00 |
| EPS in Rs | 26.98 | 20.42 | 24.40 | 22.39 | 22.31 | 14.44 |
| Dividend Payout % | 11.00 | 15.00 | 11.00 | 11.00 | 11.00 | 17.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 |
|---|---|---|---|---|---|---|
| Equity Capital | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Reserves | 137.00 | 124.00 | 106.00 | 94.00 | 84.00 | 75.00 |
| Borrowings | 93.00 | 95.00 | 88.00 | 64.00 | 45.00 | 42.00 |
| Other Liabilities | 136.00 | 136.00 | 86.00 | 119.00 | 126.00 | 69.00 |
| Total Liabilities | 371.00 | 360.00 | 284.00 | 282.00 | 261.00 | 191.00 |
| Fixed Assets | 45.00 | 47.00 | 47.00 | 43.00 | 33.00 | 22.00 |
| CWIP | 0.00 | 0.00 | 0.00 | 1.00 | 4.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 326.00 | 313.00 | 237.00 | 239.00 | 224.00 | 169.00 |
| Total Assets | 371.00 | 360.00 | 284.00 | 282.00 | 261.00 | 191.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 11.00 | 5.00 | -13.00 | 8.00 | 11.00 | 7.00 |
| Cash from Investing Activity | -1.00 | -3.00 | -6.00 | -9.00 | -17.00 | -3.00 |
| Cash from Financing Activity | -17.00 | 3.00 | 14.00 | 10.00 | -6.00 | 6.00 |
| Net Cash Flow | -7.00 | 5.00 | -5.00 | 9.00 | -12.00 | 10.00 |
| Free Cash Flow | 9.00 | 1.00 | -20.00 | -1.00 | -6.00 | 3.00 |
| CFO/OP % | 54.00 | 30.00 | -29.00 | 47.00 | 64.00 | 62.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 |
|---|---|---|---|---|---|---|
| Debtor Days | 105.00 | 144.00 | 110.00 | 131.00 | 141.00 | 157.00 |
| Inventory Days | 253.00 | 314.00 | 189.00 | 258.00 | 260.00 | 309.00 |
| Days Payable | 110.00 | 160.00 | 77.00 | 147.00 | 164.00 | 123.00 |
| Cash Conversion Cycle | 248.00 | 298.00 | 221.00 | 242.00 | 236.00 | 343.00 |
| Working Capital Days | 88.00 | 102.00 | 87.00 | 70.00 | 86.00 | 107.00 |
| ROCE % | 14.00 | 13.00 | 14.00 | 16.00 | 17.00 | — |
Corporate Actions
24 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 21 Aug 2026 | 21 Aug 2026 | — | 3.00 | |
| Dividend | 19 Sep 2025 | 19 Sep 2025 | — | 3.00 | |
| Dividend | 12 Sep 2024 | — | — | 3.00 | |
| Dividend | 14 Sep 2023 | — | — | 3.00 | |
| Dividend | 15 Sep 2022 | — | — | 2.80 | |
| Dividend | 16 Sep 2021 | — | — | 2.50 | |
| Dividend | 17 Sep 2020 | — | — | 2.50 | |
| Dividend | 19 Sep 2019 | — | — | 2.50 | |
| Dividend | 19 Sep 2018 | — | — | 2.50 | |
| Dividend | 11 Sep 2017 | — | — | 2.50 | |
| Dividend | 21 Jul 2016 | — | — | 2.20 | |
| Dividend | 08 Sep 2015 | — | — | 2.20 | |
| Dividend | 21 Aug 2014 | — | — | 2.00 | |
| Dividend | 18 Sep 2013 | — | — | 2.00 | |
| Dividend | 18 Sep 2012 | — | — | 2.00 | |
| Dividend | 21 Sep 2011 | — | — | 2.00 | |
| Dividend | 18 Aug 2010 | — | — | 2.00 | |
| Dividend | 03 Sep 2009 | — | — | 1.80 | |
| Dividend | 11 Sep 2008 | — | — | 1.00 | |
| Dividend | 16 Nov 2007 | 19 Nov 2007 | — | 0.50 | |
| Dividend | 13 Sep 2007 | — | — | 1.00 | |
| Other | 10 Feb 2004 | 16 Feb 2004 | — | — | Scheme of Arrangement |
| Other | 10 Feb 2004 | 16 Feb 2004 | — | — | Reduction of Capital |
| Other | 10 Feb 2004 | 16 Feb 2004 | — | — | Consolidation of Shares |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update19 Aug from care
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Rating update1 Oct 2025 from care
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Rating update21 Nov 2024 from care
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Rating update6 Dec 2023 from care
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Rating update25 Nov 2022 from care
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Rating update28 Dec 2021 from care