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Pix Transmission Overview

Pix Transmissions Ltd manufactures and sells belts and associated mechanical power transmissions merchandise in India. The enterprise gives ribbed/poly-V, timing/synchronous, banded, car, industrial, special construction, agriculture, garden and lawn, and V-belts; and PowerWare products, which include pulleys, couplings, bespokes, and tensioners and idler pulleys, in addition to add-ons, which includes service kits, pulley and profile gauges, laser guided pulley alignment tools, belt length measurers, tension meters, poly-v belt wear gauges, ti...Read More

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Pix Transmission Key Financials

Market Cap ₹1910 Cr.

Stock P/E 16.9

P/B 2.8

Current Price ₹1401.5

Book Value ₹ 494.2

Face Value 10

52W High ₹1799

Dividend Yield 0.64%

52W Low ₹ 1225

Pix Transmission Share Price

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Volume
Price

Pix Transmission Quarterly Price

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Pix Transmission Peer Comparison

Pix Transmission Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 124 128 129 130 160 140 162 122 139 151
Other Income 4 5 7 9 9 4 4 14 5 9
Total Income 128 133 136 139 170 144 166 136 144 160
Total Expenditure 93 96 98 95 109 106 129 94 104 108
Operating Profit 35 37 37 43 61 38 37 42 39 53
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 6 6 6 6 6 6 5 6 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 28 30 31 36 54 31 31 35 32 46
Provision for Tax 7 8 6 9 14 9 8 7 9 11
Profit After Tax 21 22 24 27 41 22 23 28 24 35
Adjustments -0 0 0 0 0 -0 0 0 0 0
Profit After Adjustments 21 22 24 27 41 22 23 28 24 35
Adjusted Earnings Per Share 15.2 16.2 17.9 20.1 29.7 16.3 16.6 20.4 17.3 25.9

Pix Transmission Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 219 234 252 264 309 319 380 449 486 493 589 574
Other Income 3 3 6 5 7 8 5 8 14 19 18 32
Total Income 222 237 258 270 316 326 385 457 500 512 607 606
Total Expenditure 182 196 204 206 250 258 269 334 382 373 426 435
Operating Profit 40 41 54 63 66 68 116 124 118 139 181 171
Interest 20 19 16 15 13 12 9 8 8 6 4 4
Depreciation 13 13 13 15 16 19 20 21 23 23 24 23
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 6 10 24 34 38 37 87 95 87 111 153 144
Provision for Tax 3 3 8 11 9 7 22 26 22 28 40 35
Profit After Tax 4 7 16 23 29 30 65 69 65 83 113 110
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 7 16 23 29 30 65 69 65 83 113 110
Adjusted Earnings Per Share 2.9 4.8 11.9 16.6 21 22.2 47.6 50.5 47.6 60.9 82.9 80.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 19% 9% 13% 10%
Operating Profit CAGR 30% 13% 22% 16%
PAT CAGR 36% 18% 30% 40%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -11% 24% 33% 40%
ROE Average 21% 19% 20% 14%
ROCE Average 27% 23% 24% 18%

Pix Transmission Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 150 151 171 189 214 236 300 365 418 493 596
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 59 48 50 42 47 43 38 61 48 33 24
Other Non-Current Liabilities 16 18 20 22 22 21 23 23 31 41 42
Total Current Liabilities 104 113 114 100 102 99 80 105 82 71 68
Total Liabilities 329 330 355 353 385 400 440 555 579 637 730
Fixed Assets 167 173 174 187 199 219 226 259 273 276 267
Other Non-Current Assets 9 12 21 10 17 10 8 21 8 8 12
Total Current Assets 145 146 159 157 168 171 206 275 298 353 452
Total Assets 329 330 355 353 385 400 440 555 579 637 730

Pix Transmission Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 20 16 18 17 10 13 12 10 24 45 49
Cash Flow from Operating Activities 32 64 27 31 47 52 58 55 112 137 108
Cash Flow from Investing Activities -29 -26 -15 -14 -34 -28 -16 -72 -22 -88 -77
Cash Flow from Financing Activities -6 -30 -13 -25 -10 -19 -43 31 -69 -46 -27
Net Cash Inflow / Outflow -4 8 -1 -7 3 5 -2 14 21 3 3
Closing Cash & Cash Equivalent 16 24 17 10 13 18 10 24 45 49 52

Pix Transmission Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 2.87 4.8 11.92 16.56 20.97 22.19 47.63 50.53 47.58 60.91 82.85
CEPS(Rs) 12.27 14.37 21.73 27.33 32.6 35.99 62.29 65.76 64.71 77.76 100.15
DPS(Rs) 1 1.5 2 2.5 2.75 2 5 6 6 7 9
Book NAV/Share(Rs) 103.88 111.18 125.12 138.71 156.85 173.43 219.88 267.77 306.8 361.63 437.53
Core EBITDA Margin(%) 16.83 16.29 18.97 21.91 19.15 18.91 27.89 24.79 21.39 24.21 26.9
EBIT Margin(%) 12.19 12.09 16.05 18.39 16.31 15.47 24.15 22.09 19.38 23.35 25.92
Pre Tax Margin(%) 2.96 4.16 9.73 12.79 12.26 11.74 21.86 20.32 17.71 22.25 25.18
PAT Margin (%) 1.78 2.79 6.46 8.52 9.24 9.49 16.24 14.79 13.27 16.68 18.64
Cash Profit Margin (%) 7.62 8.36 11.77 14.06 14.37 15.39 21.24 19.25 18.05 21.29 22.53
ROA(%) 1.11 1.98 4.75 6.38 7.75 7.71 15.46 13.85 11.44 13.66 16.51
ROE(%) 2.85 4.46 10.09 12.55 14.19 13.44 24.22 20.72 16.56 18.23 20.73
ROCE(%) 10.15 10.24 14.03 16.45 16.24 14.84 27.26 24.11 19.48 22.63 26.87
Receivable days 87.5 78.89 82.36 86.57 78.32 77.52 68.1 69.4 75.06 79.03 69.8
Inventory Days 92.91 77.62 65.83 76.84 79.25 81.85 77.51 86.86 86.03 74.6 65.6
Payable days 142.74 88.29 93.11 93.84 65.28 68.69 69.98 60.63 50.23 54.92 52.13
PER(x) 16.86 10.32 11.07 7.35 8.4 3.73 7.04 16.84 15.97 21.95 19.67
Price/Book(x) 0.47 0.45 1.05 0.88 1.12 0.48 1.52 3.18 2.48 3.7 3.73
Dividend Yield(%) 2.07 3.03 1.52 2.06 1.56 2.42 1.49 0.71 0.79 0.52 0.55
EV/Net Sales(x) 0.84 0.72 1.16 0.98 1.1 0.61 1.35 2.77 2.17 3.67 3.71
EV/Core EBITDA(x) 4.67 4.09 5.41 4.11 5.13 2.87 4.41 10.07 8.94 13.01 12.11
Net Sales Growth(%) 5.95 6.82 7.41 5.09 16.91 3.09 19.35 18.14 8.24 1.4 19.55
EBIT Growth(%) 14.14 5.98 42.57 20.66 3.5 -2.21 95.71 6.55 -7.9 22.74 35.08
PAT Growth(%) -48.02 67.16 148.61 38.85 26.6 5.84 114.64 6.08 -5.85 28.03 36.02
EPS Growth(%) -45.46 67.16 148.52 38.9 26.6 5.84 114.64 6.08 -5.85 28.03 36.02
Debt/Equity(x) 0.95 0.83 0.75 0.55 0.53 0.43 0.24 0.32 0.17 0.09 0.06
Current Ratio(x) 1.39 1.29 1.4 1.57 1.65 1.73 2.59 2.61 3.62 4.98 6.6
Quick Ratio(x) 0.85 0.91 0.99 0.92 0.97 0.99 1.37 1.43 2.34 3.6 4.85
Interest Cover(x) 1.32 1.52 2.54 3.29 4.02 4.14 10.55 12.5 11.58 21.11 35.21
Total Debt/Mcap(x) 2.04 1.86 0.71 0.63 0.47 0.9 0.16 0.1 0.07 0.02 0.02

Pix Transmission Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 61.82 61.82 61.82 61.82 61.82 61.82 61.82 61.82 61.82 62.06
FII 0.23 0.24 0.27 0.33 0.26 0.93 0.8 1.03 0.94 0.98
DII 3.71 5.23 5.23 5.23 0.21 0.71 0.53 0.52 0.63 1.51
Public 34.24 32.72 32.69 32.63 37.7 36.54 36.85 36.63 36.61 35.45
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pix Transmission News

Pix Transmission Pros & Cons

Pros

  • Company has delivered good profit growth of 30% CAGR over last 5 years
  • Debtor days have improved from 54.92 to 52.13days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

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