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Patel Engineering Ltd Regulatory Filings 2026
60771_rns_2026-06-03_4e872c7e-371e-4f3b-bdde-27259b591eae.pdf
Regulatory Filings
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Patel
PATEL ENGINEERING LTD.
CIN: L99999MH1949PLC007039
June 03, 2026
To,
Bombay Stock Exchange Ltd.
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai – 400 001
Scrip Code No. 531120
The National Stock Exchange of India Ltd.
Exchange Plaza,
Bandra - Kurla Complex
Mumbai – 400 051
Company Code No. PATELENG
Dear Sir(s),
Subject: Intimation of revision in Credit Rating
Pursuant to Regulation 30 read with Part A of Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Regulation”), we would like to inform that Infomerics Valuation and Rating Private Limited, a credit rating agency registered with SEBI, has revised and upgraded the Credit Rating as presented below:
| Instrument | Previous Rating | Current/Revision Rating | Rating action |
|---|---|---|---|
| Long term Rating | IVR A- | IVR A/Stable | upgraded |
| Short Term Rating | IVR A2+ | IVR A1 | upgraded |
Copy of the letter received from the rating agency in the attached herewith.
In terms of BSE circular no. 20230714-34 and NSE circular no. NSE/CML/2023/57 dated July 14, 2023, the date and time of occurrence of event is June 03, 2026 at 11.42 am.
You are requested to take the same on record.
Thanking you.
For Patel Engineering Ltd.
SHOBHA
RANJIT SHETTY
Digitally signed by
SHOBHA RANJIT SHETTY
Date: 2026.06.03
13:30:53 +05'30'
Shobha Shetty
Company Secretary & Compliance Officer
Membership No. F10047
REGD. OFFICE:
Patel Estate Road, Jogeshwari (W), Mumbai – 400 102. India
Phone +91 22 26767500, 26782916 Fax +91 22 26782455, 26781505
Email [email protected] Website: www.pateleng.com
Infomerics Ratings
INFOMERICS VALUATION AND RATING LTD.
Integrated Financial Omnibus Metrics Research of International Corporate Systems
(Formerly Infomerics Valuation And Rating Pvt. Ltd.)
Mr. Rishi R Vyas,
Head- Finance,
Patel Engineering Limited,
Patel Estate Tower,
Patel Estate Road, SV Road,
Jogeshwari (W), Mumbai - 400102.
June 02, 2026
Dear Sir,
Credit rating for bank facilities/NCDs
After taking into account all the relevant recent developments including operational and financial performance of your company for FY26 (Audited),
- Our Rating Committee has reviewed the following ratings:
| Total Bank Loan Facilities Rated | Rs. 6176.56 Crore | Regulator^ |
|---|---|---|
| Long Term Rating | IVR A/ Stable (Rating Upgraded) | RBI |
| Short Term Rating | IVR A1 (Rating Upgraded) | RBI |
| ^Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available. | ||
| Instrument | Amount (Rs. crore) | Ratings |
| --- | --- | --- |
| Optionally Convertible Debentures | 106.23 | IVR A/ Stable |
| Total | 106.23 (Rupees One hundred six crore and twenty-three lakh only) | |
| ^Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available. |
- Details of the rated facilities are provided in Annexure I and list of activities / instruments and names of regulators are given in Annexure II.
- For rating symbols for long term and short-term rating, definitions, criteria, methodologies and appeal policy please refer to our website www.infomerics.com.
- The press release for the rating(s) will be communicated to you shortly.
- The above rating is normally valid for a period of one year from the date of the rating committee (that is till June 01, 2027).
Page 1 of 3
Head Office : Flat No. 104/108, First Floor Golf Apartments, Super Singh Park, Maharishi Ramanna Marg, New Delhi - 110003, (INDIA)
Phone: 011-41410244, 40154576, 24611910, 24654796 Fax: 011-24627549
Corporate Office : Office No. 1102,1103,1104, B-Wing, Kanakia Wall Street, Off. Andheri Kurla Road, Andheri East, Mumbai-400093, (INDIA)
Phone No.: 022-62396023, 62396053 E-mail: [email protected], Website: www.infomerics.com
CIN: U32202DL1986PLC024575
Infomerics Ratings
-
If the proposed long term / short term facility (if any) is not availed within a period of six months / three months respectively from the date of this letter, then the rating may please be revalidated from us before availing the facility.
-
INFOMERICS reserves the right to undertake a surveillance/review of the rating(s) from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year.
-
A formal surveillance/review of the rating is normally conducted within 12 months from the date of initial rating/last review of the rating. However, INFOMERICS reserves the right to undertake a surveillance/review of the rating more than once a year if in the opinion of INFOMERICS, circumstances warrant such surveillance/review.
-
You shall provide us with a No Default Statement as at the last date of the month on the first date of succeeding month without fail. The NDS shall be mailed every month to [email protected] and to the mail id of the undersigned.
-
You shall provide the quarterly performance results/quarterly operational data (being submitted to Banks) to us within 6 weeks from the close of each calendar quarter for our review/monitoring.
-
You shall furnish all material information and any other information called for by INFOMERICS in a timely manner, for monitoring the rating assigned by INFOMERICS. In the event of failure on your part in furnishing such information, to carry out continuous monitoring of the rating of the bank facilities, INFOMERICS shall carry out the review/annual surveillance based on best available information throughout the lifetime of such bank facilities as per the policy of INFOMERICS.
-
Please note that INFOMERICS ratings are not recommendations to buy, sell or hold any security or to sanction, renew, disburse or recall the bank facilities. INFOMERICS do not take into account the sovereign risk, if any, attached to the foreign currency loans, and the ratings are applicable only to the rupee equivalent of these loans.
-
Users of this rating may kindly refer to our website www.infomerics.com for latest update on the outstanding rating.
Page 2 of 9
Continuation Sheet No.
Infomerics Ratings
- Further, this is to mention that all the clauses mentioned in the initial rating letter dated October 03, 2019, also stand applicable. If you need any clarification, you are welcome to approach us in this regard.
Thanking you,
Yours faithfully,
Onish
Rating Analyst
Email: [email protected]
Neha Khan
Senior Manager- Ratings
Email: [email protected]
Disclaimer: Infomerics ratings are independent opinions on the credit risk of the issue/issuer as of the date they are assigned and do not constitute statements of fact or recommendations to buy, hold or sell securities. The rating reflects Infomerics’ opinion on the relative credit risk of the rated instrument or entity at the time it is assigned. Infomerics reserves the right to change or withdraw the credit ratings at any point in time. Infomerics ratings are based on information and data provided by the issuer or obtained from sources believed by Infomerics to be accurate and reliable. Infomerics does not conduct any audit, due diligence or independent verification of the rated issuer or of the information provided to it unless specifically required under applicable regulatory guidelines. The credit ratings are not recommendations to sanction, renew, disburse, or recall the concerned bank facilities. While reasonable care has been taken to ensure the accuracy of the information herein, it is provided on an ‘as is’ basis and to the maximum extent permitted by law without warranty of any kind. Infomerics makes no representation or warranty, express or implied, regarding the accuracy, adequacy, timeliness, or completeness of any information contained in this report. All entities whose bank facilities/instruments are rated by us have paid a credit rating fee, based on the amount and type of bank facilities/instruments. Infomerics, or any of its group companies, may have provided other permissible services other than credit ratings to the rated issuer in the ordinary course of business. To the maximum extent permitted by applicable law, in no event shall Infomerics, its affiliates, or their respective directors, officers, shareholders, employees, or agents be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special, or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income, lost profits, or opportunity costs) arising from any use of this report. Any person accessing or using this report shall do so at their own risk. Infomerics shall have no obligation to update, revise or supplement this report after its publication except as required under applicable regulatory guidelines. The ratings and reports issued by Infomerics are intended for use in accordance with applicable laws and regulatory requirements governing credit rating agencies in India.
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Continuation Sheet No.
Infomerics Ratings
Annexure I
| Lender Name | Name of Facility | ISIN | Date of Issuance | Coupon Rate/ IRR | Maturity Date | Size of Facility (Rs. Crore) | Rating Assigned/ Outlook | Listing Status | Regulator^ | Complexity Indicator |
|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India | OCD | INE244 B07151 | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 0.00 | -- | Not Listed | MCA | Complex |
| Bank of Maharashtra | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 0.00 | -- | Not Listed | MCA | Complex | |
| DBS Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 0.00 | -- | Not Listed | MCA | Complex | |
| ICICI Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 4.03 | IVR A/ Stable | Not Listed | MCA | Complex | |
| IndusInd Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 1.59 | IVR A/ Stable | Not Listed | MCA | Complex | |
| RBL Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 1.06 | IVR A/ Stable | Not Listed | MCA | Complex | |
| SREI | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 2.48 | IVR A/ Stable | Not Listed | MCA | Complex | |
| Bank of India | OCD | INE244 B07169 | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 10.77 | IVR A/ Stable | Not Listed | MCA | Complex |
| Bank of Maharashtra | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 0.00 | -- | Not Listed | MCA | Complex | |
| EXIM Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 5.38 | IVR A/ Stable | Not Listed | MCA | Complex | |
| ICICI Bank | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 10.81 | IVR A/ Stable | Not Listed | MCA | Complex | |
| Union Bank Inc Corporation | OCD | Nov 24, 2017 | 0.01% | Aug 08, 2027 | 13.70 | IVR A/ Stable | Not Listed | MCA | Complex | |
| General Insurance Corporation of India (GIC) | OCD | INE244 B07219 | Dec 31, 2018 | 0.01% | Aug 08, 2027 | 3.29 | IVR A/ Stable | Not Listed | MCA | Complex |
| Life Insurance Corporation of India (LIC) | OCD | INE244 B07227 | Dec 31, 2018 | 0.01% | Aug 08, 2027 | 53.12 | IVR A/ Stable | Not Listed | MCA | Complex |
| Axis Bank | Cash Credit | -- | -- | -- | -- | 148.91$ | IVR A/ Stable | NA | RBI | Simple |
| Axis Bank | LC/BG | -- | -- | -- | -- | 307.25* | IVR A1 | NA | RBI | Simple |
| Bank of Baroda | LC/BG | -- | -- | -- | -- | 879.65### | IVR A1 | NA | RBI | Simple |
| Bank of Baroda | Cash Credit | -- | -- | -- | -- | 324.73@ | IVR A/ Stable | NA | RBI | Simple |
| Bank of Baroda | Equipment/ Lease Finance | -- | -- | -- | -- | 0.91 | IVR A/ Stable | NA | RBI | Simple |
| Bank of India | Cash Credit | -- | -- | -- | -- | 119.24$$ | IVR A/ Stable | NA | RBI | Simple |
| Bank of India | LC/BG | -- | -- | -- | -- | 397.20^^ | IVR A1 | NA | RBI | Simple |
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Continuation Sheet No.
Infomerics Ratings
| Lender Name | Name of Facility | ISIN | Date of Issuance | Coupon Rate/ IRR | Maturity Date | Size of Facility (Rs. Crore) | Rating Assigned/ Outlook | Listing Status | Regulator^ | Complexity Indicator |
|---|---|---|---|---|---|---|---|---|---|---|
| Bank of Maharashtra | Project Specific Term Loan | -- | -- | -- | Jun-29 | 63.00 | IVR A/ Stable | NA | RBI | Simple |
| Bank of Maharashtra | Cash Credit | -- | -- | -- | -- | 143.48 | IVR A/ Stable | NA | RBI | Simple |
| Bank of Maharashtra | Equipment/ Lease Finance | -- | -- | -- | -- | 1.85 | IVR A/ Stable | NA | RBI | Simple |
| Bank of Maharashtra | LC/BG | -- | -- | -- | -- | 520.87# | IVR A1 | NA | RBI | Simple |
| Canara Bank | Cash Credit | -- | -- | -- | -- | 112.66 | IVR A/ Stable | NA | RBI | Simple |
| Canara Bank | Equipment/ Lease Finance | -- | -- | -- | -- | 0.76 | IVR A/ Stable | NA | RBI | Simple |
| Canara Bank | LC/BG | -- | -- | -- | -- | 244.79 | IVR A1 | NA | RBI | Simple |
| DBS Bank | Cash Credit | -- | -- | -- | -- | 10.00 | IVR A/ Stable | NA | RBI | Simple |
| DBS Bank | LC/BG | -- | -- | -- | -- | 148.32 | IVR A1 | NA | RBI | Simple |
| EXIM Bank | LC/BG | -- | -- | -- | -- | 46.37## | IVR A1 | NA | RBI | Simple |
| ICICI Bank | Cash Credit | -- | -- | -- | -- | 105.94$$$$ | IVR A/ Stable | NA | RBI | Simple |
| ICICI Bank | LC/BG | -- | -- | -- | -- | 328.84*** | IVR A1 | NA | RBI | Simple |
| IDBI Bank | Cash Credit | -- | -- | -- | -- | 88.43 | IVR A/ Stable | NA | RBI | Simple |
| IDBI Bank | LC/BG | -- | -- | -- | -- | 499.62^^^ | IVR A1 | NA | RBI | Simple |
| Indian Overseas Bank | Cash Credit | -- | -- | -- | -- | 50.00($$) | IVR A/ Stable | NA | RBI | Simple |
| Indian Overseas Bank | Equipment/ Lease Finance | -- | -- | -- | -- | 2.64 | IVR A/ Stable | NA | RBI | Simple |
| Indian Overseas Bank | LC/BG | -- | -- | -- | -- | 150.00** | IVR A1 | NA | RBI | Simple |
| Indian Renewable Energy Development Agency (IREDA) | Project Specific Term Loan | -- | -- | -- | Aug-26 | 0.00 | -- | NA | RBI | Simple |
| IndusInd Bank | Cash Credit | -- | -- | -- | -- | 1.55 | IVR A/ Stable | NA | RBI | Simple |
| IndusInd Bank | LC/BG | -- | -- | -- | -- | 24.48 | IVR A1 | NA | RBI | Simple |
| RBI. Bank | Cash Credit | -- | -- | -- | -- | 1.07(*) | IVR A/ Stable | NA | RBI | Simple |
| RBI. Bank | LC/BG | -- | -- | -- | -- | 10.59(!) | IVR A1 | NA | RBI | Simple |
| SREI | LC/BG | -- | -- | -- | -- | 22.14 | IVR A1 | NA | RBI | Simple |
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Continuation Sheet No.
Infomerics Ratings
| Lender Name | Name of Facility | ISIN | Date of Issuance | Coupon Rate/ IRR | Maturity Date | Size of Facility (Rs. Crore) | Rating Assigned/ Outlook | Listing Status | Regulator^ | Complexity Indicator |
|---|---|---|---|---|---|---|---|---|---|---|
| Standard Chartered Bank | LC/BG | -- | -- | -- | -- | 38.66 | IVR A1 | NA | RBI | Simple |
| State Bank of India | LC/BG | -- | -- | -- | -- | 318.93$$$$$ | IVR A1 | NA | RBI | Simple |
| Union Bank | Cash Credit | -- | -- | -- | -- | 93.84($) | IVR A/ Stable | NA | RBI | Simple |
| Union Bank | LC/BG | -- | -- | -- | -- | 370.06(^) | IVR A1 | NA | RBI | Simple |
| Yes Bank | Cash Credit | -- | -- | -- | -- | 70.66 | IVR A/ Stable | NA | RBI | Simple |
| Yes Bank | LC/BG | -- | -- | -- | -- | 112.46 | IVR A1 | NA | RBI | Simple |
| Proposed | Cash Credit | -- | -- | -- | -- | 219.94 | IVR A/ Stable | NA | RBI | Simple |
| Proposed | LC/ BG | 196.72 | IVR A1 | NA | RBI | Simple |
$Rs. 130 crore is the WCDL sublimit of Cash Credit.
$$Rs. 5.31 crore is the WCDL sublimit of Cash Credit.
$$$Rs. 74.40 crore is the WCDL sublimit of Cash Credit.
$$$$Rs. 25.00 crore is the Cash Credit sublimit of Bank Guarantee.
(S) Rs. 21.20 crore is the WCDL sublimit of Cash Credit.
($$) Rs. 30 crore is the WCDL sublimit of Cash Credit.
*Sublimit in the form LC: Rs.53.90 crore, sublimit in the form of CC: Rs.18.91 crore
@Sublimit of CC the form of Rs. 50.00 crore Inland/foreign guarantee, WCDL: Rs.324.73 crore [Rs.276.06
crore (CC main limit) +Rs.48.67 crore (CC sublimit of NFB)]
Sublimit in the form of following:
a) Interchangeability from Arbitration BG limit: Rs.77.88 crore
b) Financial BG of Rs.90.81 crore and Performance BG of Rs.82.14 crore to be issued on behalf of JVs/SPV
c) LC (Inland/Foreign LC): Rs.84.73 crore
d) CC of Rs.48.67 crore.
^ CC (NFB to FB conversion)
^^ Sublimit in the form of following:
a) Arbitration BG: Rs.50.00 crore
b) Guarantee with onerous clause: Rs.60.00 crore.
c) Financial BGs: Rs.140.00 crore
d) Performance Guarantee for period of more than 5 years (Max.10 years): Rs.200.00 crore
e) Guarantees for JV Project: Rs.50.00 crore
f) LC: Rs. 30.70 crore.
Sublimit in the form LC of Rs.34.15 crore, CC: Rs.21.12 crore, covid loan: Rs.9.70 crore.
(@) Sublimit in the form of LC: Rs.25.00 crore
*** Sublimit in the following form:
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Continuation Sheet No.
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Confinuation Sheet No.
```markdown
Informatics Ratings
a) Cash Credit: Rs.21.60 crore (Sublimit in the form of WCDL: Rs.12.96 crore)
b) WCDL: Rs.12.96 crore
c) LC: Rs.26.64 crore
d) BG(Government): Rs.287.00 crore
e) Financial Guarantee: Rs.35.00 crore
^^^ Sublimit in the form of LC: Rs.50.00 crore, BG for monetization of arbitration awards: Rs.39.39 crore and interchangeability from NFB to FB amounting to Rs.21.62 crore, BG on behalf of JV on run-off basis: Rs.38.66 crore.
Sublimit in the form of LC: Rs.4.55 crore. Arbitration BG limit of Rs. 21.36 crore, interchangeability between project BG and Arbitration BG.
(*) Sublimit in the form of OD: Rs.1.07 crore
(1) Sublimit in the form of Following:
a) LC: Rs. 1.28 crore
b) LC: Rs.0.43 crore
c) CC: Rs.1.07 crore
(^) Sublimit in the form of LC: Rs. 13.31 crore, Financial BG against court order: Rs.44.60 crore, BG under OTR: Rs.34.00 crore and LC under OTR: Rs. 8.48 crore.
Sublimit in the form of Letter of guarantee: Rs.100.00 crore
^Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
OJSH
Infomerics Ratings
Annexure II: List of activities / instruments and names of regulators
| Sr. No. | Instrument / activity Name | Regulator of the instrument |
|---|---|---|
| 1 | Listed/Proposed to be listed Bonds/Debentures/Preference Shares | SEBI |
| 2 | Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference Shares | MCA |
| 3 | Listed PTCs / Securitisation Notes (originated by entities regulated by RBI) * | SEBI |
| 4 | Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI) * | SEBI |
| 5 | Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI) * | RBI |
| 6 | Listed Commercial Paper and NCDs with original maturity less than 1 year | RBI |
| 7 | Unlisted Commercial Paper and NCDs with original maturity less than 1 year | RBI |
| 8 | Loan Facilities (Fund/Non-Fund Based) from Bank / NBFCs/ NHB/ FIs ^ | RBI |
| 9 | External Commercial Borrowings/Loans from overseas lenders/Loans from Multilaterals | RBI |
| 10 | Certificates of Deposit | RBI |
| 11 | Fixed Deposits raised by NBFCs, Banks, HFCs, FIs | RBI |
| 12 | Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, FIs | MCA |
| 13 | Inter Corporate Deposits/Loans extended by Corporates | MCA |
| 14 | Borrowing programme ~ | Refer foot note |
| 15 | Issuer Ratings # | Refer foot note |
| 16 | Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and AIFs) | SEBI |
| 17 | Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs | SEBI |
| 18 | Listed Security Receipts | SEBI |
| 19 | Unlisted Security Receipts | RBI |
| 20 | Independent Credit Evaluation (ICE) | RBI |
| 21 | Expected Loss Ratings (For Loan Facilities [Fund/Non-Fund based] from Banks/NBFCs/NHB/FIs) | RBI |
| 22 | Expected Loss Ratings (Listed / Proposed to be listed Bonds / Debentures / Preference Shares (all securities)) | SEBI |
| 23 | Expected Loss Ratings (Unlisted / Proposed to be unlisted Bonds/ Debentures / Preference Shares (all securities)) | MCA |
| 24 | Unlisted PTCs / Securitisation Notes (originated by entities not regulated by RBI) @ | Investor-side Regulator such as IRDAI, PFRDA |
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Continuation Sheet No.
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Information Sheet No.
Footnotes:
- Includes securitisation transactions involving assignee payout, acquirer's payout.
~ The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In Press Release(s) subsequent to issuance(s), CRA shall separately capture the rated quantum details along with names of respective regulators.
There is no instrument being rated and hence, Regulator of the Instrument is not applicable. The rating scale and definitions are being followed as stipulated in SEBI Master Circular for CRAs.
^ Includes bank facilities such as liquidity facility, second loss facility that are part of securitisation transactions.
@ These ratings were assigned during regulatory regime prior to the introduction of SEBI CRA Circular dated Feb 10, 2026, and accordingly, investor side regulators have been included.
Continuation Sheet No.