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Swing Capital

Pitti Engineering Ltd

NSE: PITTIENG BSE: 513519Metal

Pitti Engg. is engaged in the manufacturing of Electrical Steel Laminations, Motor Cores, Sub-Assemblies, Die-Cast Rotors, Press Tools and machining of metal components.

₹912
52W: ₹675 — ₹1070
PE 35.2 · Book ₹253 · +260% vs book
Market Cap₹3,434 Cr
Stock P/E35.2Price to Earnings
ROCE13.4%Return on Capital
ROE10.6%Return on Equity
Div. Yield0.17%Face Value ₹5

Strengths

  • +Company has delivered good profit growth of 26.7% CAGR over last 5 years
  • +Debtor days have improved from 52.8 to 40.4 days.

Weaknesses

  • −Promoter holding has decreased over last 3 years: -5.10%

Shareholding Pattern

Promoters54.17%
FIIs1.12%
DIIs20.23%
Public22.52%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.29%53.58%▼5.754.17%▲0.654.17%54.17%54.17%54.17%54.17%
FIIs0.79%1.29%▲0.51.31%▲0.00.9%▼0.40.79%▼0.10.87%▲0.10.93%▲0.11.12%▲0.2
DIIs5.87%17.53%▲11.718.36%▲0.818.8%▲0.419.15%▲0.320.53%▲1.420.23%▼0.320.23%
Public34.04%27.61%▼6.426.15%▼1.525.27%▼0.924.85%▼0.422.78%▼2.122.71%▼0.122.52%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales302336360379364422382396422390
Expenses250284304320303351315327351315
Operating Profit51525659617167697075
OPM %17%15%16%16%17%17%18%17%17%19%
Net Profit16461934243018362223
EPS ₹4.914.355.789.66.457.964.679.455.776.01

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,590Cr, up 4.3% YoY. OPM at 18%.

Debt Position

Borrowings at ₹805Cr. Debt-to-equity ratio: 0.86x. Moderate leverage.

Capex Cycle

CWIP at ₹42Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 20.23% (+14.04pp change). FIIs: 1.12% (+0.93pp change). Promoters hold 54.17%.

Margin & Efficiency

ROCE improving from 11% (Mar 2015) to 13% (Mar 2026). Working capital days: 24.

Valuation

PE 35.2x with 13.4% ROCE. Price is 260% above book value of ₹253. Dividend yield: 0.17%.

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