Pitti Engineering Ltd

Pitti Engineering Ltd

₹ 765 0.55%
28 Mar - close price
About

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.

Key Points

Products Portfolio
The product portfolio of the co. includes Sheet Metal used in 20+ end user industries , Precision Machining used for complex machining parts, & Assemblies. And the products under developments are Fabricated Assembles and Machining for Mining applications for Dumper Trucks (Wheel Hub, Support Seals, Flywheel), Die cast rotors & Wind Generator products for more than 6 MW and off-shore machines and EV motors for HT applications. [1]

  • Market Cap 2,452 Cr.
  • Current Price 765
  • High / Low 818 / 268
  • Stock P/E 32.8
  • Book Value 113
  • Dividend Yield 0.35 %
  • ROCE 18.2 %
  • ROE 19.0 %
  • Face Value 5.00

Pros

  • Company has delivered good profit growth of 37.6% CAGR over last 5 years
  • Debtor days have improved from 86.4 to 60.2 days.
  • Company's working capital requirements have reduced from 118 days to 68.4 days

Cons

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
151 170 175 242 265 271 311 304 238 248 290 290 294
126 144 147 207 231 236 275 268 199 207 247 248 250
Operating Profit 25 27 28 35 34 35 35 37 39 41 42 43 44
OPM % 17% 16% 16% 14% 13% 13% 11% 12% 16% 16% 15% 15% 15%
0 19 0 0 1 15 1 0 1 16 1 13 3
Interest 8 9 9 8 10 12 11 12 12 10 12 11 14
Depreciation 8 8 9 9 9 11 10 11 11 13 13 12 15
Profit before tax 10 28 10 18 16 27 15 14 17 34 19 32 19
Tax % 28% 25% 28% 26% 26% 27% 22% 29% 28% 26% 25% 29% 31%
7 21 7 13 12 20 12 10 12 25 14 23 13
EPS in Rs 2.27 6.62 2.30 4.10 3.62 6.17 3.65 3.17 3.78 7.75 4.36 7.04 4.16
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
419 305 245 335 308 283 379 622 525 518 954 1,100 1,121
356 264 212 295 289 250 323 530 447 439 821 949 952
Operating Profit 63 41 33 41 19 34 55 92 78 80 133 151 170
OPM % 15% 13% 13% 12% 6% 12% 15% 15% 15% 15% 14% 14% 15%
0 1 2 2 2 3 2 1 4 19 16 18 33
Interest 23 18 19 11 17 15 23 30 34 30 40 45 46
Depreciation 7 8 9 16 15 16 18 22 27 30 39 45 53
Profit before tax 33 16 7 15 -11 5 16 40 20 39 71 80 103
Tax % 33% 38% 38% 38% 16% 16% 31% 41% 14% 25% 26% 26%
22 10 4 9 -10 4 11 24 17 29 52 59 75
EPS in Rs 8.30 3.65 1.56 3.46 -3.54 1.60 3.78 7.95 5.34 8.98 16.19 18.36 23.31
Dividend Payout % 18% 14% 32% 29% 0% 0% 0% 0% 0% 0% 13% 15%
Compounded Sales Growth
10 Years: 14%
5 Years: 24%
3 Years: 28%
TTM: 0%
Compounded Profit Growth
10 Years: 20%
5 Years: 38%
3 Years: 51%
TTM: 39%
Stock Price CAGR
10 Years: 46%
5 Years: 70%
3 Years: 126%
1 Year: 184%
Return on Equity
10 Years: 12%
5 Years: 16%
3 Years: 18%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 14 14 14 14 14 14 15 15 16 16 16 16 16
Reserves 87 95 98 104 93 99 135 156 192 220 268 318 347
141 150 121 143 174 181 256 247 245 317 393 356 478
116 64 76 107 81 117 144 166 143 148 280 287 259
Total Liabilities 358 322 309 368 362 410 549 584 596 701 956 978 1,101
77 84 87 87 76 94 201 227 247 285 327 364 382
CWIP 4 1 6 10 12 31 9 5 8 1 1 24 33
Investments 0 4 4 16 16 17 17 16 16 16 16 15 15
276 233 211 255 258 268 321 336 324 399 613 574 670
Total Assets 358 322 309 368 362 410 549 584 596 701 956 978 1,101

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
30 44 34 45 -7 73 28 71 69 34 88 222
-20 -12 -17 -20 -7 -56 -113 -46 -46 -66 -93 -104
-8 -36 -14 -20 14 -20 86 -26 -21 28 12 -86
Net Cash Flow 3 -5 3 6 -0 -4 1 -2 3 -4 7 32

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 99 106 96 112 133 116 132 107 97 121 78 60
Inventory Days 142 185 231 173 211 262 191 85 134 171 147 112
Days Payable 102 80 136 139 120 219 160 88 102 115 119 117
Cash Conversion Cycle 138 211 192 146 224 159 163 104 128 178 106 55
Working Capital Days 133 196 190 141 183 141 152 99 121 176 111 68
ROCE % 29% 14% 11% 11% 2% 7% 12% 17% 12% 14% 18% 18%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
59.28% 59.28% 59.28% 59.28% 59.28% 59.28% 59.29% 59.29% 59.29% 59.29% 59.29% 59.29%
0.04% 0.05% 0.12% 0.30% 0.02% 0.03% 0.05% 0.10% 0.00% 0.19% 0.13% 0.22%
0.00% 0.00% 0.00% 0.26% 0.26% 0.89% 2.90% 5.53% 5.91% 6.19% 5.51% 6.56%
40.67% 40.67% 40.60% 40.15% 40.43% 39.80% 37.77% 35.07% 34.79% 34.34% 35.07% 33.94%
No. of Shareholders 11,60516,05220,41920,45322,40226,09327,87926,95026,75728,54234,50641,372

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls