Pitti Engineering (513519) Q3 25/26 earnings summary

Executive summary

• Focused on improving execution, increasing share of value-added and integrated products, and laying groundwork for the next phase of growth, with strong engagement across railways, power generation, data centers, renewables, and mining.

• Demand remained steady, supported by indirect exports and global sourcing shift towards India; favorable tariff developments in the U.S. improved export visibility.

• Achieved total income of ₹1,447 crore for 9MFY26, up 14% year-over-year, with Q3FY26 income at ₹484 crore, up 15% compared to Q3FY25.

• Export revenue grew 35% from FY23 to FY25, with exports accounting for 28% of total revenue in 9MFY26.

• Approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025.

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 at INR 30.0 crore (+4.4% YOY); 9-month PAT at INR 97.1 crore (+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 of achieving FY26 revenue guidance of INR 1,900–2,000 crore, with current run rate pointing to INR 1,950 crore.

• FY27 revenue targeted at INR 2,250 crore with EBITDA margin expected 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.

• Data center segment projected to grow 25–30% over next 12–18 months.