Pitti Engineering Ltd
NSE:PITTIENG
Pitti Engineering Ltd
Pitti Engineering Ltd. engages in the provision of electrical tooling, stampings, and machining. The company is headquartered in Hyderabad, Telangana. These products include electrical steel laminations, stator and rotor core assemblies, sub-assemblies, pole assemblies, die-cast rotors, press tools and high precision machining of various metal components. The company is diversified into manufacturing of castings, steel fabricated parts and machined components, and stator and rotor assemblies. The firm supplies a range of engineering products to various diversified segments, such as hydro and thermal generation, windmill, mining, cement, steel, sugar, construction, lift irrigation, freight rail, passenger rail, mass urban transport, e-mobility, appliances, medical equipment, oil and gas and several other industrial applications. The company is engaged in the manufacture of engineering products/components through its wholly owned subsidiary, Pitti Rail and Engineering Components Limited.
Pitti Engineering Ltd. engages in the provision of electrical tooling, stampings, and machining. The company is headquartered in Hyderabad, Telangana. These products include electrical steel laminations, stator and rotor core assemblies, sub-assemblies, pole assemblies, die-cast rotors, press tools and high precision machining of various metal components. The company is diversified into manufacturing of castings, steel fabricated parts and machined components, and stator and rotor assemblies. The firm supplies a range of engineering products to various diversified segments, such as hydro and thermal generation, windmill, mining, cement, steel, sugar, construction, lift irrigation, freight rail, passenger rail, mass urban transport, e-mobility, appliances, medical equipment, oil and gas and several other industrial applications. The company is engaged in the manufacture of engineering products/components through its wholly owned subsidiary, Pitti Rail and Engineering Components Limited.
Revenue Growth: Revenue for Q3 FY '26 grew 15% YoY to INR 483 crores, with 9-month revenue up 13.9% to INR 1,447 crores; company remains confident of meeting full-year revenue guidance of INR 1,900–2,000 crores.
Margin Expansion: Adjusted EBITDA margins improved to 17.5% in Q3 (from 16.1% YoY), with company expecting margins to remain steady around 17% going forward.
Strong Segment Demand: Railways, power generation, and data centers showed robust demand; data center revenues rose from 2.7% to 3.7% QoQ and are expected to grow 25–30% over the next 12–18 months.
Export Dynamics: Export share stable at 28% for 9 months despite Q3 softness due to customer inventory realignment; recent US tariff reduction expected to benefit exports and customer acquisition.
Working Capital & Inventory: Inventory levels were elevated at INR 500 crores but are expected to decline to INR 300 crores within 3 months, reducing finance costs by an estimated INR 15 crores in FY '27.
Capacity Expansion: INR 150 crores capex plan remains on track, with most new capacity to be operational by FY '27 to support further growth.
Guidance Reaffirmed: Management reaffirmed full-year revenue and EBITDA margin targets and highlighted strong customer forecasts and order pipelines, particularly in North America and Europe.
