Pitti Engineering (513519) Q3 25/26 earnings summary

Executive summary

• Achieved total income of ₹1,447 crore for 9MFY26, up 14% year-over-year, with Q3FY26 income at ₹484.3 crore, up 15% compared to Q3FY25.

• Adjusted EBITDA for 9MFY26 rose 27% year-over-year to ₹242 crore, with margin improvement to 17.1%.

• Adjusted PAT for 9MFY26 increased 13% year-over-year to ₹97 crore, with margin at 6.9%.

• Focused on improving execution, increasing value-added and integrated products, and disciplined capital deployment to support the next phase of growth.

• Board approved the amalgamation of two wholly owned subsidiaries and appointed a new Non-Executive, Non-Independent Director.

Financial highlights

• Q3 FY26 total income grew 15% YoY to INR 484.3 crore; 9-month revenue up 13.9% YoY to INR 1,447 crore.

• Adjusted EBITDA for Q3 FY26 at INR 83.3 crore, up 24.5% YoY; margin expanded to 17.5%.

• Adjusted PAT for Q3 FY26 at INR 30.0 crore, up 4.4% YoY; 9-month PAT at INR 97.1 crore, up 12.7% YoY.

• Gross profit for 9MFY26 was ₹557.9 crore, up 11.4% year-over-year, with a margin of 39.5%.

• Consolidated revenue from operations for the quarter was ₹47,742.15 lakhs, up from ₹41,497.84 lakhs year-over-year.

Outlook and guidance

• Confident in achieving FY26 revenue guidance of INR 1,900–2,000 crore, with current run rate supporting a midpoint of INR 1,950 crore.

• FY27 revenue targeted at INR 2,250 crore with EBITDA margin expected to remain around 17%.

• Ongoing capex of ₹150 crore to expand sheet metal, machining, and casting capacities by FY27, funded through internal accruals and debt.

• Amalgamation of subsidiaries is expected to simplify management, increase efficiencies, and generate synergies for future growth.

• Sheet metal capacity to rise from 90,000 MT to 1,08,000 MT, and casting capacity to 24,600 MT by FY27.