Pitti Engineering (513519) Q2 26/27 earnings summary

Executive summary

• Q2FY27 revenue from operations was ₹57,843.80 lakh, up 21.1% YoY; H1FY27 revenue was ₹1,10,753.27 lakh, up 18.5%.

• Adjusted EBITDA rose 13.6% YoY in Q2 and H1; adjusted PAT fell 15.1% in Q2 and 0.4% in H1.

• A ₹2-per-share interim dividend was declared, and ₹450 crore of phased capacity and facility investment was approved.

Financial highlights

• Q2 revenue from operations was ₹57,843.80 lakh versus ₹47,772.93 lakh; total income was ₹58,053.99 lakh versus ₹49,905.28 lakh.

• Q2 PBT was ₹4,525.92 lakh versus ₹5,386.68 lakh; reported PAT was ₹3,388.58 lakh versus ₹4,009.42 lakh.

• H1 revenue from operations was ₹1,10,753.27 lakh versus ₹93,429.36 lakh; PBT was ₹8,148.02 lakh versus ₹9,041.18 lakh; reported PAT was ₹6,338.77 lakh versus ₹6,297.66 lakh.

• Adjusted EBITDA was ₹91.3 crore in Q2 and ₹180.1 crore in H1, up 13.6% YoY in both periods; adjusted PAT was ₹36.3 crore and ₹68.2 crore, respectively.

• EBIT declined 15.9% YoY to ₹61.6 crore in Q2 and 7.6% to ₹120.4 crore in H1.

Outlook and guidance

• Expansion is planned in phases through FY2030-31 to raise capacity, increase value addition, improve efficiency and optimize costs.

• Capacity additions are planned at existing or leased premises, with land acquisition planned in Hyderabad and Bengaluru.

• Order visibility from Caterpillar, Voith, Progress Rail, Siemens Mobility and Medha Servo spans data centres, mining, off-highway vehicles and railways.

• Demand rationale includes mining and off-highway vehicles, power generation, data centres, railways and metro infrastructure.