Pix Transmission Ltd
PIX Transmissions Ltd. is the leading manufacturer of Belts and related mechanical Power Transmission products in India. The Company features state-of-the-art Belt manufacturing units as well as an ultra-sophisticated, automated Rubber Mixing facility. [1]
- Market Cap ₹ 2,454 Cr.
- Current Price ₹ 1,800
- High / Low ₹ 1,930 / 1,220
- Stock P/E 23.1
- Book Value ₹ 511
- Dividend Yield 0.51 %
- ROCE 21.7 %
- ROE 16.4 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of 8.90% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Rubber
Part of BSE Industrials BSE 1000
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 212 | 224 | 239 | 253 | 295 | 304 | 380 | 449 | 486 | 493 | 593 | 582 | |
| 175 | 186 | 192 | 195 | 236 | 243 | 268 | 334 | 382 | 373 | 426 | 428 | |
| Operating Profit | 37 | 38 | 48 | 58 | 59 | 61 | 113 | 115 | 105 | 120 | 167 | 154 |
| OPM % | 17% | 17% | 20% | 23% | 20% | 20% | 30% | 26% | 22% | 24% | 28% | 26% |
| 3 | 3 | 6 | 5 | 7 | 7 | 4 | 8 | 13 | 19 | 13 | 17 | |
| Interest | 20 | 19 | 16 | 14 | 12 | 12 | 9 | 8 | 8 | 6 | 4 | 4 |
| Depreciation | 13 | 13 | 13 | 15 | 16 | 19 | 20 | 21 | 23 | 23 | 24 | 23 |
| Profit before tax | 6 | 10 | 24 | 34 | 38 | 37 | 87 | 95 | 87 | 111 | 153 | 144 |
| Tax % | 40% | 33% | 34% | 33% | 25% | 19% | 26% | 27% | 25% | 25% | 26% | 26% |
| 4 | 7 | 16 | 23 | 29 | 30 | 65 | 69 | 65 | 83 | 113 | 107 | |
| EPS in Rs | 2.87 | 4.80 | 11.93 | 16.56 | 20.97 | 22.19 | 47.63 | 50.52 | 47.57 | 60.91 | 82.85 | 78.45 |
| Dividend Payout % | 35% | 31% | 17% | 15% | 13% | 9% | 10% | 12% | 13% | 11% | 11% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 6% |
| TTM: | -2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 10% |
| 3 Years: | 18% |
| TTM: | -6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 42% |
| 5 Years: | 21% |
| 3 Years: | 22% |
| 1 Year: | 12% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 18% |
| 3 Years: | 18% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | 136 | 138 | 157 | 175 | 200 | 223 | 286 | 351 | 404 | 479 | 582 | 683 |
| 134 | 125 | 128 | 105 | 113 | 101 | 74 | 118 | 72 | 44 | 35 | 24 | |
| 45 | 53 | 56 | 59 | 57 | 63 | 66 | 72 | 88 | 100 | 99 | 109 | |
| Total Liabilities | 329 | 330 | 355 | 353 | 385 | 400 | 440 | 555 | 579 | 637 | 730 | 830 |
| 167 | 173 | 174 | 187 | 199 | 219 | 226 | 259 | 273 | 276 | 267 | 269 | |
| CWIP | 0 | 6 | 5 | 0 | 10 | 0 | 0 | 0 | 1 | 2 | 2 | 3 |
| Investments | 13 | 14 | 23 | 11 | 8 | 7 | 4 | 5 | 5 | 75 | 128 | 200 |
| 149 | 137 | 153 | 155 | 168 | 174 | 209 | 291 | 299 | 284 | 334 | 358 | |
| Total Assets | 329 | 330 | 355 | 353 | 385 | 400 | 440 | 555 | 579 | 637 | 730 | 830 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 32 | 64 | 27 | 31 | 47 | 52 | 58 | 55 | 112 | 137 | 108 | 171 | |
| -29 | -26 | -15 | -14 | -34 | -28 | -16 | -72 | -22 | -88 | -78 | -89 | |
| -6 | -30 | -13 | -25 | -10 | -19 | -43 | 31 | -69 | -46 | -27 | -33 | |
| Net Cash Flow | -4 | 8 | -1 | -7 | 3 | 5 | -2 | 14 | 21 | 3 | 3 | 49 |
| Free Cash Flow | 1 | 39 | 29 | 8 | 9 | 22 | 36 | -15 | 88 | 111 | 89 | 148 |
| CFO/OP | 86% | 168% | 68% | 71% | 102% | 101% | 72% | 68% | 129% | 135% | 89% | 134% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 86 | 93 | 94 | 84 | 81 | 78 | 78 | 79 | 81 | 75 | 85 |
| Inventory Days | 282 | 178 | 246 | 284 | 238 | 255 | 262 | 264 | 207 | 196 | 214 | 189 |
| Days Payable | 72 | 85 | 111 | 92 | 65 | 75 | 81 | 58 | 47 | 62 | 49 | 48 |
| Cash Conversion Cycle | 294 | 179 | 228 | 285 | 257 | 260 | 259 | 284 | 240 | 215 | 240 | 225 |
| Working Capital Days | 20 | -8 | 10 | 51 | 56 | 56 | 103 | 108 | 119 | 112 | 115 | 103 |
| ROCE % | 10% | 10% | 14% | 16% | 16% | 15% | 27% | 24% | 19% | 23% | 27% | 22% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Export revenue as % of total turnover % |
|
|||||||||
| Total workforce (employees + workers) count ・Standalone data |
||||||||||
| Number of countries exported to count |
||||||||||
| Raw material import as % of total raw material purchases % |
||||||||||
| Number of dealers/distributors (domestic) count ・Standalone data |
||||||||||
| Power Transmission Belts as % of total turnover (product mix) % ・Standalone data |
||||||||||
| Top 10 customer concentration as % of total revenue % |
||||||||||
Extracted by Screener AI
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - Regulation 74(5) certificate confirmed dematerialisation processing for quarter ended June 30, 2026.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jul - Enclosed the clippings of newspaper notice intimating the details of 44th AGM, remote e-voting, book closure and cut-off date.
-
Business Responsibility and Sustainability Reporting (BRSR)
30 Jun - Business Responsibility & Sustainability Report for FY 2025-26 uploaded on website and sent to members.
- Intimation Of Record Date 30 Jun
-
Intimation Of Book Closure
30 Jun - 44th AGM on July 22, 2026; book closure July 15-22, record date and cut-off July 14.
Annual reports
-
Financial Year 2026
from bse
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
Product Portfolio
The product portfolio includes industrial belts, agricultural belts, lawn & garden belts, automotive belts, hi-power rated belts, power-ware products, and various accessories. [1]
The company has a large number of SKUs and sells more than 80% of the products under its own Brand Name and largely in after sales market.