Pitti Engineering Limited submitted an investor presentation to BSE and NSE in compliance with SEBI Listing Regulations (Regulation 30) for the quarter and half year ended 30th September 2026. The presentation was prepared for the investors/analysts earnings conference call scheduled for 23rd October 2026 at 2:00 PM IST.

Financial Performance (Standalone Basis)

The company merged its two subsidiaries - Pitti Industries Private Limited and Dakshin Foundry Private Limited with the parent entity in September 2026. Accordingly, Q2FY27 and H1FY27 results are reported on a standalone basis, while previous period numbers have been restated.

Q2FY27 Financial Highlights:

  • Revenue from Operations: ₹578.4 crore (21.1% YoY growth from ₹477.7 crore in Q2FY26)
  • Other Income: ₹2.1 crore (down from ₹21.3 crore in Q2FY26)
  • Total Income: ₹580.5 crore (16.3% YoY growth)
  • Gross Profit: ₹224.3 crore with 38.8% margin (19.3% YoY growth)
  • Adjusted EBITDA: ₹91.3 crore with 15.8% margin (13.6% YoY growth)
  • Reported EBITDA: ₹88.9 crore with 15.4% margin (14.5% YoY growth)
  • ESOP Cost: ₹2.5 crore
  • Depreciation: ₹29.4 crore
  • EBIT: ₹61.6 crore with 10.7% margin (-15.9% YoY)
  • Finance Cost (excl FX loss): ₹18.2 crore
  • FX Gain: ₹1.8 crore
  • Profit Before Tax: ₹45.3 crore with 7.8% margin (-15.9% YoY)
  • Tax: ₹11.4 crore
  • Profit After Tax: ₹33.9 crore (-15.3% YoY from ₹40.1 crore)
  • Adjusted PAT: ₹36.3 crore with 6.3% margin (-15.1% YoY)

H1FY27 Financial Highlights:

  • Revenue from Operations: ₹1,107.5 crore (18.5% YoY growth from ₹934.3 crore)
  • Other Income: ₹3.0 crore (down from ₹28.7 crore)
  • Total Income: ₹1,110.5 crore (15.3% YoY growth)
  • Gross Profit: ₹432.6 crore with 39.1% margin (18.0% YoY growth)
  • Adjusted EBITDA: ₹180.1 crore with 16.3% margin (13.6% YoY growth)
  • Reported EBITDA: ₹175.3 crore with 15.8% margin (14.6% YoY growth)
  • ESOP Cost: ₹4.8 crore
  • Depreciation: ₹57.8 crore
  • EBIT: ₹120.4 crore with 10.9% margin (-7.6% YoY)
  • Finance Cost (excl FX loss): ₹37.7 crore
  • FX Loss: ₹1.3 crore
  • Profit Before Tax: ₹81.5 crore with 7.4% margin (-9.9% YoY)
  • Tax: ₹18.1 crore
  • Profit After Tax: ₹63.4 crore (0.7% YoY growth from ₹63.0 crore)
  • Adjusted PAT: ₹68.2 crore with 6.2% margin (-0.4% YoY)

Operational Performance

Sales Volume (MT):

  • Q2FY27 Total Lamination & Assemblies: 21,671 MT (25.6% YoY growth)
  • High value-added assemblies: 4,786 MT (51.1% YoY growth)
  • Stator frame/Rotor shaft integrated assemblies: 1,350 MT (17.8% YoY growth)
  • Loose Laminations: 14,476 MT (22.7% YoY growth)
  • Other Machined components: 1,059 MT (-7.4% YoY)
  • Total Castings & Machined Components: 3,086 MT (6.5% YoY growth)
  • By products & Scrap: 21,081 MT (68.7% YoY growth)

H1FY27 Volume:

  • Total Lamination & Assemblies: 40,889 MT (22.0% YoY growth)
  • Total Castings & Machined Components: 6,054 MT (1.6% YoY growth)
  • By products & Scrap: 36,655 MT (53.2% YoY growth)

Balance Sheet (as of September 2026)

Assets: ₹2,247.0 crore (vs ₹2,001.7 crore in March 2026)

  • Non-Current Assets: ₹1,300.7 crore
  • Property, plant and equipment: ₹967.9 crore
  • Capital work-in-progress: ₹120.3 crore
  • Right-of-use assets: ₹105.8 crore
  • Current Assets: ₹946.4 crore
  • Inventories: ₹478.7 crore
  • Trade receivables: ₹216.9 crore
  • Cash and cash equivalents: ₹59.1 crore
  • Bank balances: ₹42.7 crore

Liabilities & Equity:

  • Total Equity: ₹911.7 crore (vs ₹850.8 crore in March 2026)
  • Share Capital: ₹18.8 crore
  • Other Equity: ₹892.9 crore
  • Non-Current Liabilities: ₹504.3 crore
  • Borrowings: ₹372.5 crore
  • Lease Liabilities: ₹82.6 crore
  • Current Liabilities: ₹831.0 crore
  • Borrowings: ₹268.0 crore
  • Trade Payables: ₹474.8 crore

Cash Flow Statement (H1FY27)

  • Net Profit Before Tax: ₹81.5 crore
  • Net Cash from Operating Activities: ₹323.0 crore
  • Net Cash from Investing Activities: -₹263.2 crore
  • Net Cash from Financing Activities: -₹120.2 crore
  • Net Decrease in Cash: ₹60.4 crore
  • Cash & Cash equivalents at period end: ₹59.1 crore

Strategic Expansion Plans

The company announced phased investments of approximately ₹740 crore to expand manufacturing capacity, driven by strong order visibility from marquee customers including Caterpillar, Voith, Progress Rail, Siemens Mobility and Medha Servo across data centres, mining, off-highway vehicles and railways.

Land acquisition is planned in Hyderabad and Bengaluru. In the interim, capacities will be added at existing/leased premises in a phased manner.

Industry Revenue Breakup (Q2FY27)

  • Traction motor and Railway components: 27%
  • Power Generations: 16%
  • Industrial & Commercial: 12%
  • Special Purpose Motors: 8%
  • Mining, Oil & Gas: 10%
  • Renewable Energy: 15%
  • Data Centres: 5%
  • Others (including scrap sales): 7%

Company Overview

Pitti Engineering Limited is India's largest manufacturer and exporter of electrical laminations and a preeminent manufacturer of machined castings and fabricated components. The company operates 6 manufacturing facilities (3 in Telangana, 1 in Maharashtra, 2 in Bangalore) and serves 100+ customers across diversified end-user industries with exports to countries across 6 continents.

FY26 Total Income stood at ₹1,953 crore. The company maintains central operations management through SAP software and common manufacturing and marketing teams.

Management

Board of Directors:

  • Shri Sharad B Pitti (Founder & Chairman)
  • Akshay S Pitti (MD & Chief Executive Officer)
  • Kemisha Soni (Independent Director)
  • Priti Savla (Independent Director)
  • G. Vijaya Kumar (Independent Director)

Management Team:

  • Akshay S Pitti (MD & CEO)
  • Chaitra Sundaresh (COO – Motor & Generator Components Business)
  • Sandip Agarwala (Deputy Chief Executive Officer)
  • M Pavan Kumar (Chief Financial Officer)
  • Mary Monica Braganza (Company Secretary & Chief Compliance Officer)
  • Avinash Patil (Deputy Chief Operating Officer)

Historical Financial Performance

FY26 (Restated) Highlights:

  • Revenue from Operations: ₹1,912.8 crore
  • Total Income: ₹1,952.9 crore
  • Adjusted EBITDA: ₹325.8 crore (17.0% margin)
  • Profit After Tax: ₹117.8 crore
  • Adjusted PAT: ₹128.1 crore (6.7% margin)