Pitti Engineering (513519) Q2 25/26 earnings summary

Executive summary

• Achieved record quarterly and half-yearly total income in Q2FY26 and H1FY26, with strong YoY growth in revenue and profitability, and EBITDA rising 17.5% YoY to INR 78 crore with stable margins at 16.3%.

• Expanded manufacturing capacity and product portfolio through strategic acquisitions and focus on higher value-added products and integrated solutions.

• Maintained leadership in electrical laminations, diversified across multiple end-user industries and geographies, and released un-audited financial results with auditor review confirming compliance.

• Strong demand outlook in traction motor, railway, data center, and renewable energy sectors, with robust order inflows.

• Appointment of MUFG Intime India Private Limited as new Registrar and Transfer Agent, replacing XL Softech Systems Limited.

Financial highlights

• Q2FY26 total income: ₹499 Cr (+9.6% YoY); H1FY26 total income: ₹963 Cr (+13.3% YoY); EBITDA: ₹78 Cr (+17.5% YoY, margin 16.3%).

• Q2FY26 PAT: ₹40 Cr (+5.4% YoY, margin 8.4%); H1FY26 PAT: ₹63 Cr (+9.7% YoY, margin 6.7%).

• Standalone and consolidated revenue and net profit grew YoY for Q2 and H1 FY26; consolidated Q2 revenue: ₹47,772.93 lakhs, net profit: ₹3,931.54 lakhs.

• Data center segment revenue doubled YoY, now at 4% of total revenue.

• Export revenue for H1 FY26 was INR 135 crore (28% of operating revenue), with North America at INR 25-30 crore and Mexico at INR 80 crore.

Outlook and guidance

• Targeting 70,000 tons of lamination sales for FY 2026, with potential to exceed if Q4 ramps up; projecting 83,000 tons in FY 2026 and 94,000 tons by FY 2027.

• New capacity additions in Bangalore to reach 80% utilization by end of FY 2027; CapEx of INR 150 crore planned.

• Focus on margin-accretive, value-added products, expansion into complex machined components, and export growth to developed markets.

• Long-term strategy includes organic and inorganic growth, with focus on North India and new product lines.

• No explicit forward-looking guidance provided, but continued growth in revenue and profit year-over-year indicates positive business momentum.