Financial Performance Overview
Pitti Engineering Limited announced its unaudited financial results for the second quarter and half year ended 30th September 2026. The company reported total income growth of 16.3% year-on-year to ₹581 crore for Q2FY27.
Volume Metrics and Performance
Sales Volume Breakdown (in MT):
| Product Category | Q2FY27 | Q2FY26 | YoY Growth | H1FY27 | H1FY26 | H1 YoY Growth |
| High value-added assemblies - Laminations | 4,786 | 3,168 | 51.1% | 8,929 | 6,189 | 44.3% |
| Stator frame or Rotor shaft integrated assemblies - Laminations | 1,350 | 1,146 | 17.8% | 2,562 | 2,142 | 19.6% |
| Loose Laminations and low value-added assemblies | 14,476 | 11,801 | 22.7% | 27,374 | 22,998 | 19.0% |
| Total Laminations | 20,612 | 16,115 | 27.9% | 38,865 | 31,329 | 24.1% |
| Other Machined components going into laminations & assemblies | 1,059 | 1,144 | -7.4% | 2,024 | 2,185 | -7.4% |
| Total Lamination & Assemblies | 21,671 | 17,259 | 25.6% | 40,889 | 33,514 | 22.0% |
| Total Castings & Machined Components | 3,086 | 2,897 | 6.5% | 6,054 | 5,958 | 1.6% |
| By products & Scrap | 21,081 | 12,498 | 68.7% | 36,655 | 23,926 | 53.2% |
Corporate Restructuring
In September 2026, the company merged its two subsidiaries – Pitti Industries Private Limited and Dakshin Foundry Private Limited with their parent entity, Pitti Engineering Limited. Accordingly, financial results for Q2 & H1FY27 are reported on a standalone basis, whereas previous period numbers are restated.
Capital Expenditure Update
The company announced a ₹450 crore capital expenditure plan to expand laminations capacity to 160,000 MTs and machining capacity to 13,14,000 hours in a phased manner by FY31. Land acquisition is planned for a new greenfield unit in Bengaluru, with interim capacity to be added in phases at existing and leased premises.
Management Commentary
Mr. Akshay S Pitti, Managing Director & CEO, commented: "We have delivered a healthy performance in Q2FY27, with total income growing 16.3% year-on-year to ₹581 crore, supported by strong volume growth in laminations and assemblies. This performance reflects the underlying demand across our end-markets and the strength of our customer relationships."
He further added: "Building on this momentum, we are announcing a ₹450 crore investment in a new greenfield facility in Bengaluru to consolidate our laminations operations and progressively increase our sheet metal capacity to 1,60,000 MT and machining capacity to 13.14 lakh hours by FY31. This investment is backed by our confidence in the long-term demand outlook and our ambition to strengthen our position as an integrated engineering partner to global customers."
Business Outlook
The management highlighted strong order visibility and opportunities across railways, data centres, mining and industrial applications. The company plans to continue expanding capabilities in a phased manner, align capacity with customer requirements, and maintain a disciplined approach to capital allocation to build a stronger platform for sustainable growth.
Company Background
Pitti Engineering is India's largest manufacturer and exporter of electrical laminations and a prominent player in the production of machined castings and fabricated components. The company specializes in manufacturing electrical steel laminations for motors used across diverse electrical applications and has evolved into a comprehensive solutions provider offering motor cores, sub-assemblies, die-cast rotors, and press tools.