Pitti Engineering (513519) Q3 24/25 earnings summary

Executive summary

• Achieved record-high machine component volumes and significant sales growth, supported by synergies from mergers and higher machined component sales.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2024, reflecting the impact of amalgamations.

• Integration of newly acquired subsidiaries is progressing, with DFPL expected to drive further growth in FY26.

• Commissioned a unique coating line for hydro and thermal power generator laminations, enabling import substitution.

• Amalgamation scheme approved by NCLT, effective from April 1, 2023.

Financial highlights

• Q3 FY25 consolidated revenue from operations rose 37.46% year-over-year to ₹414.98 crore; PAT increased 83.07% to ₹28.76 crore.

• 9M FY25 consolidated revenue grew 36.06% YoY to ₹1,235.79 crore; PAT surged 97.12% to ₹86.14 crore.

• EBITDA for Q3 reached ₹66.95 crore, a 30.05% increase, with an EBITDA margin of 16.13%.

• Earnings per share for Q3 FY25 at ₹7.64, up from ₹4.59 in Q3 FY24.

• Net debt stood at ₹432 crore as of December 31.

Outlook and guidance

• FY25 consolidated revenue expected at ₹1,750 crore, with Q4 guidance of ₹450 crore.

• FY26 volume guidance: 69,000-70,000 tons consolidated, 54,000 tons standalone.

• Management expects continued healthy growth across end-user industries and aims to end the year strongly.

• Next year’s incentive income expected at ₹32 crore, rising to ₹40 crore the following year.

• No major CapEx planned beyond current ₹190 crore, to be capitalized by year-end.