Pitti Engineering (513519) Q4 24/25 earnings summary

Executive summary

• FY25 marked a landmark year with two acquisitions, a major merger, and robust growth across all performance indicators, supported by an unmodified audit opinion.

• Consolidated revenue grew to INR 1,74,336 lakhs, with EBITDA up 49.77% to INR 27,112 lakhs and PAT up 36.32% to INR 12,228.63 lakhs.

• Q4 revenue rose 28% year-over-year to INR 4,723.0 lakhs, with EBITDA up 54% to INR 8,008 lakhs, though PAT declined 21.43% due to absence of incentives booked last year.

• Major CapEx cycle completed, with new capacity commissioned at Aurangabad, raising consolidated sheet metal capacity to 90,000 metric tons.

• A final dividend of ₹1.50 per equity share was recommended for FY25, subject to AGM approval.

Financial highlights

• Consolidated sales volumes for lamination increased 49.43% year-over-year to 63,215 metric tons.

• Q4 sales volumes were 17,185 tons, up 50.28% year-over-year.

• Machine components business revenue reached INR 375 crores, targeting INR 750 crores in 18-24 months.

• Q4 FY25 consolidated revenue from operations rose 39.6% YoY to ₹46,878 lakhs; annual revenue up 37% YoY to ₹1,70,457 lakhs.

• Basic and diluted EPS (consolidated) for FY25 was ₹33.32, up from ₹26.20 in FY24.

Outlook and guidance

• Targeting 15% revenue growth for FY26 and 10% volume growth in laminations.

• FY26 revenue target of INR 2,000 crores and 68,000-70,000 tons in lamination volume; FY27 peak capacity at 72,000 tons and INR 2,100-2,200 crores revenue.

• EBITDA margin guidance for FY26 is 16.5%-17%, with potential for a 75-100 basis point increase over 12-18 months.

• The Board highlighted the successful completion of the amalgamation, positioning the company for further growth.

• Focus on integrating acquisitions, improving efficiency, and reducing costs to enhance margins.