Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Patil Automation Ltd. (PATILAUTOM)
SME CapIT stocks · SME cap · NSE
Patil Automation Limited is a Pune-based engineering company designing and delivering turnkey automation systems for manufacturing industries. It specializes in intelligent assembly and production lines, integrating robotics, controls, and precision engineering. Serves automotive, EV, renewable energy, heavy engineering, defense, and consumer goods sectors.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result08 May, 04:08 am IST
Score20 Oct, 05:22 pm IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage10/14 · 71%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
87Strong Bullfull bull SMA stack · SMA20 +27.3% / mo · MACD − · near 52W high · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 79
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PATILAUTOMD candles · FIT view+123.9%Latest close ₹362.65 on 2026-10-19
Bar
-0.1%
RSI
63
MACD hist
-1.14
52W pos
90%
2026-10-19O ₹363.00H ₹379.00L ₹352.15C ₹362.65Vol 37,800 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PATILAUTOMNifty ITNifty 500
- PATILAUTOM
- +90.9%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +96.4 pp
Chart stats
19 Oct 2026- From 52W high
- -7.0%
- 52W range position
- 90%
- ATR (14)
- 5.8%
- Volume vs 20D
- 0.57x
- Avg traded value
- ₹2.2 Cr
- 20D price channel
- ₹300 - ₹389.8
₹389.8
₹112.1 - ₹389.8
₹20.9
Latest completed session
20-session average
57.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · OVERVALUED13
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Strong Bull87
Price trend and sector-relative-strength timing.
Valuation
Legacy model-502.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹95 Cr | NDF | +33.8% |
| EBITDA | ₹14 Cr | NDF | +40.0% |
| Operating margin | 15.0% | NDF | +0 bps |
| PAT | ₹12 Cr | NDF | +50.0% |
| PAT margin | 12.6% | NDF | +136 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 44.50
- P/B
- 5.72
- EV/EBITDA
- 28.00
- Market Cap
- 791.00Cr
Profitability
- ROE
- 12.80%
- ROCE
- —
- ROA
- 8.56%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- —
- EPS 5Y
- —
- Revenue 3Y
- —
- EPS 3Y
- —
Balance Sheet
- Debt/Equity
- 0.15
- Interest Coverage
- 8.33×
- Altman Z
- 7.81
- Book Value
- 63.50
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -1.00 Cr
- EPS TTM
- 8.15
Shareholding
- Promoter Hold
- 69.29%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 90%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 95.0+33.8% vs prev
Net Profit
₹ CrLatest: 12.0+50.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 63. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~21.5% over last month) — short-term momentum positive.
- RSI(14) at 63 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 7% off 52W high · 224% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
97
RS percentile
Stage 2 UptrendEstablished S2
1M return
+11.3%
3M return
+90.9%
6M return
+121.9%
1Y return
+104.3%
RS 1D
+1
RS 20D
+2
Sector rank
#8
Industry rank
-
Stage evidence
- Price is 67.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +14.0%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
07 Aug 2026
S2 age
50 trading sessions
Sector
improving
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 204.37-0.07%
RS vs Nifty 500204
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth2/25
Quality1/20
Balance Sheet10/15
Cash Flow0/10
Piotroski
4/9 (+1)
Penalties
-1
Raw sum
13
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
13/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 10/15 to the score.
- Growth contributes 2/25 to the score.
- Quality contributes 1/20 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -502.2%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
44.5
PB
5.7
EV/EBITDA
28.0
ROE
12.8%
ROCE
—
FCF Yield
—
Debt/Equity
0.1
MoS
-502.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
13
Previous: 13
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-502.2%
Previous: -502.2%
Score history
12 stored score snapshots. Latest stored move: -1 points.
20 Oct 2026
v4.3-runtime-valuation
14
14
14
14
14
14
14
14
14
14
14
13
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹107.91
-236.1% MoS
Growth-justified P/E
7.4
Growth-justified Value
₹60.23
-502.2% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CANARYS
SME
Canarys Automations Ltd.
IT
match 86
60
11.5
14.6%
+58%
UNDERVALUED
PATTECH
SME
Pattech Fitwell Tube Components Ltd.
IT
match 85
15
54.8
6.2%
-70%
OVERVALUED
RACLGEAR
Small
RACL Geartech Limited
IT Services / Digital
match 72
42
36.7
17.0%
-11%
WATCHLIST
TCL
SME
Thaai Casting Ltd.
Auto
match -48
25
25.9
13.4%
-4%
OVERVALUED
AVATAR
SME
AVATAR Industries Limited
Auto Components
match -49
25
612.0
1.1%
-1388%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-21T07:20:04.231Z
Management commentary snapshot
Patil Automation reported strong standalone FY26 performance with Total Income up 28.49% YoY to ₹156.82 Cr, EBITDA up 38.55% YoY to ₹26.69 Cr (17.02% margin), and Net Profit up 35.41% YoY to ₹15.85 Cr (10.10% margin). Consolidated FY26 results show Total Income of ₹172.79 Cr, EBITDA of ₹30.65 Cr (17.74% margin), and Net Profit of ₹17.78 Cr (10.29% margin).
While standalone FY26 results show robust growth in income and profitability, consolidated figures lack prior year comparisons. Negative operating cash flow for FY26 and minimal standalone EPS growth (1.18%) despite strong PAT growth due to increased share count are concerning. Execution in new segments and sustained positive cash generation are critical for thesis validation.
Current business mix
Industry-wise Revenue Bifurcation % (FY26)
Latest issuer-disclosed distribution across 2 reported categories.
Automotive67.0%
Non-Automotive33.0%
Growth engines
Sector Diversification
Entry into defense, railways, infrastructure, and solar automation broadens market base and reduces cyclicity.
Technology Integration
Acquisitions of Mii Robotics and Pentaco strengthen robotics, vision systems, and defense automation capabilities.
Order Book Strength
Healthy and expanding pipeline from leading OEMs ensures sustained revenue visibility.
Capacity Expansion
New 59,000 sq. ft. facility and Faridabad facility are expected to drive 2x revenue potential through higher throughput.
Capacity and execution
Faridabad Manufacturing Facility
New 15,000 sq. ft. facility commissioned in Faridabad, Haryana, in April 2026, strengthening execution and North India access.
Advanced Design Hub
New 13,000 sq. ft. engineering & design center inaugurated in Pune, expanding in-house design capabilities with seating for 160+ professionals.
Chakan Facilities
Operates 3 manufacturing facilities at MIDC Chakan, Pune, with a combined area of ~2 lakh sq. ft. and annual capacity of ~3500 units.
Tailwinds
India Automation Boom
Government programs like Make in India & Digital India, technological leaps (IoT, AI, robotics), and manufacturing growth are accelerating automation adoption.
India Welding Line Market Growth
Valued at USD 677.51 million in 2024, projected to reach USD 1,042.56 million by 2033 (CAGR 4.91%), driven by industrial modernization.
India Assembly Line Market Growth
Valued at USD 1.0 billion in 2024, projected to reach USD 2.2 billion by 2033 (CAGR 8.64%), reflecting transition to high-throughput assembly.
Global Automation Market Growth
Global market size forecast for 2034 is USD 569.27 billion, growing at a CAGR of 9.31% (2025-34).
Risk radar
General Business Risks
Forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions, including performance of the Indian economy and international markets.
Competition
The company faces competition within the industry in India and worldwide, which could impact performance.
Technological Implementation
Risks include technological implementation, changes, and advancements, which could affect the company's strategy.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Standalone results provide clear YoY comparisons for H2 FY26 and full FY26, showing strong operational momentum. Consolidated results are presented for the first time for FY26, lacking prior year comparatives due to recent subsidiary acquisitions.
Sector KPIs management disclosed
Capacity Utilization
Operating at ~85% capacity utilization (FY 2026) across 3 manufacturing facilities at MIDC Chakan, Pune.
Order Book
Currently maintaining a strong order book of ₹100+ Crore from leading automotive and engineering clients.
Total Income CAGR (FY23-FY26)
Total Income grew at a CAGR of 23.95% from FY23 to FY26.
EBITDA CAGR (FY23-FY26)
EBITDA grew robustly at a CAGR of 42.31% from FY23 to FY26.
Management forward view
FY26 Performance
Mr. Manoj Pandurang Patil, MD, stated FY26 was a 'landmark year' with strong growth across financial and operational parameters, reflecting healthy demand and disciplined execution.
Capability Strengthening
Management highlighted strengthening capabilities through commissioning the Faridabad facility and inaugurating the Advanced Design Hub in Pune.
New Market Entry
The company marked its entry into emerging clean energy opportunities through the incorporation of PAL Green Energy.
Future Outlook
Management believes a healthy order pipeline, expanding capabilities, and focus on operational excellence position the company to sustain growth momentum.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Book Growth & Diversification | ₹100+ Crore, primarily from automotive and engineering clients. | Sustained growth in order book value and increasing contribution from non-automotive sectors to reduce concentration risk. |
| Operating Cash Flow | -₹4.38 Cr in FY26. | Improvement to positive and sustained operating cash flow to fund growth and reduce reliance on financing activities. |
| Non-Automotive Revenue Mix | 33% of total revenue in FY26. | Increase in the share of non-automotive revenue to demonstrate successful diversification and reduce cyclicality from the automotive sector. |
| Standalone EPS Growth | 1.18% YoY in FY26 (₹7.71 vs ₹7.62). | Significant improvement in EPS growth, indicating effective utilization of capital raised and accretion from new projects. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 32nd percentile within IT. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · IT: 32nd pctile, median 69 · SME: 41st pctile, median 64
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 69.3%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-1 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Patil Automation Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
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All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.