Market Cap ₹2636 Cr.
Stock P/E 35.3
P/B 7
Current Price ₹822.4
Book Value ₹ 117.4
Face Value 5
52W High ₹916.4
Dividend Yield 0.33%
52W Low ₹ 334.5
Pitti Engineering Ltd, previously Pitti Laminations Ltd, is an primarily India based enterprise engaged in manufacturing of electrical laminations and stampings. The Company is also engaged within the production of motor cores, sub-assemblies, die cast rotors and press tools. It manufactures unique purpose laminations for all kinds of rotating electric machinery. Its services and products encompass Electrical Steel Laminations, Die Cast Rotors & Assemblies, Stator Core Assemblies, Rotor Core Assemblies, Pole Assemblies and Casting & Machine Components. Its merchandise have application in industrial vehicles, alternators, hydro-electric powered and thermal power turbines, wind power mills, DC machines, railway traction cars, pumps, clinical diagnostic system and aeronautic wing manage cars. It caters to the needs of generation of power, transportation, commercial vehicles, locomotives, aerospace, vehicle, earth moving and mining, oil and gas and infrastructure industries.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 242 | 265 | 271 | 311 | 304 | 238 | 248 | 290 | 290 | 294 |
| Other Income | 0 | 1 | 15 | 1 | 0 | 1 | 16 | 1 | 13 | 3 |
| Total Income | 243 | 265 | 286 | 311 | 305 | 239 | 263 | 291 | 303 | 297 |
| Total Expenditure | 207 | 231 | 236 | 275 | 268 | 199 | 207 | 247 | 248 | 250 |
| Operating Profit | 35 | 35 | 50 | 36 | 37 | 40 | 56 | 43 | 55 | 47 |
| Interest | 8 | 10 | 12 | 11 | 12 | 12 | 10 | 12 | 11 | 14 |
| Depreciation | 9 | 9 | 11 | 10 | 11 | 11 | 13 | 13 | 12 | 15 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 18 | 16 | 27 | 15 | 14 | 17 | 34 | 19 | 32 | 19 |
| Provision for Tax | 5 | 4 | 7 | 3 | 4 | 5 | 9 | 5 | 9 | 6 |
| Profit After Tax | 13 | 12 | 20 | 12 | 10 | 12 | 25 | 14 | 23 | 13 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 |
| Profit After Adjustments | 13 | 12 | 20 | 12 | 10 | 12 | 25 | 14 | 23 | 13 |
| Adjusted Earnings Per Share | 4.1 | 3.6 | 6.2 | 3.6 | 3.2 | 3.8 | 7.7 | 4.4 | 7 | 4.2 |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|
| Net Sales | 518 | 954 | 1100 | 1122 |
| Other Income | 20 | 17 | 18 | 33 |
| Total Income | 539 | 971 | 1118 | 1154 |
| Total Expenditure | 440 | 822 | 949 | 952 |
| Operating Profit | 99 | 149 | 169 | 201 |
| Interest | 30 | 40 | 45 | 47 |
| Depreciation | 30 | 39 | 45 | 53 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 |
| Profit Before Tax | 39 | 71 | 80 | 104 |
| Provision for Tax | 10 | 19 | 21 | 29 |
| Profit After Tax | 29 | 52 | 59 | 75 |
| Adjustments | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 29 | 52 | 59 | 75 |
| Adjusted Earnings Per Share | 9 | 16.2 | 18.4 | 23.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 15% | 0% | 0% | 0% |
| Operating Profit CAGR | 13% | 0% | 0% | 0% |
| PAT CAGR | 13% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 134% | 133% | 75% | 46% |
| ROE Average | 19% | 17% | 17% | 17% |
| ROCE Average | 20% | 18% | 18% | 18% |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|
| Shareholder's Funds | 236 | 284 | 334 |
| Minority's Interest | 0 | 0 | 0 |
| Borrowings | 51 | 110 | 122 |
| Other Non-Current Liabilities | 72 | 70 | 71 |
| Total Current Liabilities | 342 | 493 | 451 |
| Total Liabilities | 701 | 957 | 978 |
| Fixed Assets | 285 | 325 | 362 |
| Other Non-Current Assets | 30 | 44 | 73 |
| Total Current Assets | 386 | 588 | 542 |
| Total Assets | 701 | 957 | 978 |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|
| Opening Cash & Cash Equivalents | 7 | 0 | 8 |
| Cash Flow from Operating Activities | 32 | 88 | 222 |
| Cash Flow from Investing Activities | -66 | -93 | -104 |
| Cash Flow from Financing Activities | 28 | 12 | -87 |
| Net Cash Inflow / Outflow | -6 | 7 | 32 |
| Closing Cash & Cash Equivalent | 0 | 8 | 40 |
| # | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|
| Earnings Per Share (Rs) | 8.97 | 16.18 | 18.36 |
| CEPS(Rs) | 18.45 | 28.31 | 32.29 |
| DPS(Rs) | 0 | 2.03 | 2.7 |
| Book NAV/Share(Rs) | 73.57 | 88.58 | 104.22 |
| Core EBITDA Margin(%) | 13.54 | 12.25 | 12.15 |
| EBIT Margin(%) | 11.82 | 10.22 | 10 |
| Pre Tax Margin(%) | 6.69 | 6.55 | 6.41 |
| PAT Margin (%) | 4.99 | 4.81 | 4.72 |
| Cash Profit Margin (%) | 10.26 | 8.42 | 8.31 |
| ROA(%) | 4.1 | 6.26 | 6.08 |
| ROE(%) | 12.2 | 19.96 | 19.04 |
| ROCE(%) | 13.92 | 20.07 | 20.22 |
| Receivable days | 108.78 | 63.67 | 56.5 |
| Inventory Days | 99.57 | 72.72 | 74.94 |
| Payable days | 114.62 | 87.6 | 110 |
| PER(x) | 7.43 | 19.95 | 14.71 |
| Price/Book(x) | 0.91 | 3.64 | 2.59 |
| Dividend Yield(%) | 0 | 0.63 | 1 |
| EV/Net Sales(x) | 0.88 | 1.39 | 0.99 |
| EV/Core EBITDA(x) | 4.65 | 8.88 | 6.44 |
| Net Sales Growth(%) | 0 | 84.08 | 15.34 |
| EBIT Growth(%) | 0 | 61.66 | 13.06 |
| PAT Growth(%) | 0 | 80.38 | 13.42 |
| EPS Growth(%) | 0 | 80.35 | 13.44 |
| Debt/Equity(x) | 1.08 | 1.14 | 0.87 |
| Current Ratio(x) | 1.13 | 1.19 | 1.2 |
| Quick Ratio(x) | 0.67 | 0.64 | 0.67 |
| Interest Cover(x) | 2.3 | 2.78 | 2.79 |
| Total Debt/Mcap(x) | 1.19 | 0.31 | 0.33 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 59.28 | 59.28 | 59.28 | 59.28 | 59.29 | 59.29 | 59.29 | 59.29 | 59.29 | 59.29 |
| FII | 0.3 | 0.02 | 0.03 | 0.05 | 0 | 0 | 0.19 | 0.13 | 0.22 | 0.5 |
| DII | 0.27 | 0.27 | 0.88 | 2.9 | 5.63 | 5.92 | 6.19 | 5.52 | 6.56 | 5.88 |
| Public | 40.15 | 40.43 | 39.8 | 37.76 | 35.08 | 34.8 | 34.33 | 35.06 | 33.93 | 34.33 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 |
| FII | 0.01 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.01 | 0.02 |
| DII | 0.01 | 0.01 | 0.03 | 0.09 | 0.18 | 0.19 | 0.2 | 0.18 | 0.21 | 0.19 |
| Public | 1.29 | 1.3 | 1.28 | 1.21 | 1.12 | 1.12 | 1.1 | 1.12 | 1.09 | 1.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 |
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