Pitti Engineering Ltd.

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pitti.inBSE: 513519NSE: PITTIENG

Market Cap₹ 4,394 Cr.

Current Price

High / Low₹ 1,228 / 675

Stock P/E35.3

Book Value₹ 267

Price to Book2.65

Dividend Yield0.21 %

ROCE15.9 %

ROE12.6 %

Face Value₹ 5

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 32.6% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 29.8% CAGR over last 5 years
Latest quarter profit grew 28.9% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.72x)

CONS

Promoter holding has decreased over last 2 years: -5.1pp
A large part of profit comes from other income (26.3% of PBT)
Equity base is being diluted - shares outstanding up 17.5%
Though reporting repeated profits, the company pays out little dividend (8.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	430.60	61.64	149937.65	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1018.90	94.43	50382.66	0.58	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3680.25	73.91	43852.50	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34514.05	55.37	30515.68	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	987.95	69.84	22468.26	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2245.75	80.12	20418.91	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2846.00	132.25	18379.96	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	569.10	53.80	18091.60	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	TEGA	1731.10	615.52	13005.36	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	82.72	57.36	12830.19	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KRN	1595.75	107.75	10445.54	0.00	32.90	164.84	252.32	118.87	16.06	19.44
12.	PITTIENG	1166.90	35.31	4393.80	0.21	29.50	28.93	529.10	15.89	15.87	16.32

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	290	303	302	336	391	429	415	469	457	478	477	501	529
	247	258	250	284	333	363	348	389	381	400	397	419	494
Operating Profit	42	45	51	52	58	66	67	80	75	78	81	82	35
OPM %	14.64%	14.73%	17.06%	15.45%	14.82%	15.39%	16.13%	17.08%	16.50%	16.26%	16.95%	16.29%	6.68%
	1	13	3	32	3	26	6	4	7	21	7	5	1
Interest	12	11	14	14	17	19	13	19	21	19	21	22	23
Depreciation	13	13	16	16	17	20	21	22	26	26	27	27	28
Profit before Tax	19	33	25	54	28	53	39	42	37	54	40	37	36
Tax %	24.85%	32.34%	37.56%	14.38%	29.80%	28.49%	25.61%	14.34%	37.37%	25.56%	28.90%	29.00%	18.55%
Net Profit	0	0	0	0	21	38	29	36	23	40	28	27	30
	4.36	6.43	4.59	13.44	5.65	10.20	7.64	9.61	6.14	10.78	7.59	7.21	7.99

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	518	954	1,100	1,202	1,705	1,913	1,985
	440	822	949	1,024	1,433	1,601	1,710
Operating Profit	78	132	151	178	271	312	276
OPM %	15.06%	13.84%	13.76%	14.79%	15.91%	16.29%	13.88%
	20	17	18	48	39	44	34
Interest	30	40	45	50	68	83	85
Depreciation	30	39	45	54	81	105	107
Profit before Tax	39	71	80	122	162	168	167
Tax %	25.39%	26.50%	26.37%	26.02%	24.33%	29.70%	25.61%
Net Profit	29	52	59	90	122	118	124
EPS	8.97	16.18	18.36	28.14	32.48	31.29	—
Dividend Payout %	0.00%	12.51%	14.71%	5.33%	4.62%	7.99%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 30%
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 33%
3 Years:: 26%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 48%
3 Years:: 28%
1 Year:: 30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 19%
3 Years:: 18%
Last Year:: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	16	19	19
	220	268	318	400	879	957
	308	377	343	529	605	689
Trade Payables	105	220	251	228	328	243
	52	75	50	158	174	230
Total Liabilities	701	957	978	1,330	2,004	2,138
	285	325	362	422	1,027	1,153
Capital Work in Progress	1	1	24	118	63	50
	16	16	15	15	0	0
	157	272	239	270	329	395
	0	0	0	210	255	206
Cash & Bank	9	35	65	109	140	147
	232	308	272	184	190	187
Total Assets	701	957	978	1,330	2,004	2,138

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	37	106	257	74	289	205
Cash from Investing	-66	-93	-104	-236	-536	-175
Cash from Financing	28	12	-87	198	269	-9
	-6	7	32	36	22	21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.29	53.58	54.18	54.18	54.18	54.18	54.18	54.18	54.18
	0.79	1.29	1.31	0.90	0.79	0.87	0.93	1.12	1.54
	5.87	17.53	18.36	18.80	19.15	20.53	20.23	20.23	20.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.04	27.61	26.16	26.13	25.88	24.43	24.67	24.49	24.17

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Amalgamation/Merger

2026-09-08 - Pitti Engineering Limited has informed the Exchange about Scheme of Amalgamation approved by the Hon''ble NCLT

2026-09-07

Spurt in Volume

2026-09-07 - Significant increase in volume has been observed in Pitti Engineering Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Pitti Engineering Limited has submitted their response.

2026-09-07

Spurt in Volume

2026-09-07 - Significant increase in volume has been observed in Pitti Engineering Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

2026-08-26

Resignation of Director/KMP/SMP

2026-08-26 - Pitti Engineering Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-26

Resignation of Director/KMP/SMP

2026-08-26 - Pitti Engineering Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-26

Resignation

2026-08-26 - Pitti Engineering Limited has informed the Exchange regarding Resignation of Vinod Kumar as Non- Executive Independent Director of the company w.e.f. August 26, 2026.

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Pitti Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-24

Updates

2026-08-24 - Pitti Engineering Limited has informed the Exchange regarding 'Annual report weblink letter to Members'.

2026-08-24

Updates

2026-08-24 - Pitti Engineering Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for financial year 2025-26'.

News

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