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.

• Audited standalone and consolidated financial results for FY25 were approved, with an unmodified audit opinion issued by the statutory auditors.

• Q4 revenue rose 28%-39.6% year-over-year to INR 472.30-468.78 crores; EBITDA up 54% to INR 80.08-80.07 crores, but PAT declined 21.4% due to absence of prior year incentives.

• 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

• FY25 consolidated revenue grew 34.87%-37% to INR 1,743.36-1,704.57 crores; EBITDA up 49.77%-49.8% to INR 271.12 crores; PAT increased 36.3% to INR 122.28-122.29 crores.

• Q4 FY25 EPS at ₹9.61, down 28.5% YoY; annual EPS at ₹33.32, up 27.2% YoY.

• FY25 consolidated sales volumes for lamination up 49.43% to 63,215 metric tons.

• Export revenue for FY25 was nearly INR 500 crores, with 30-35% to USA, 55-60% to Mexico.

• Machine components business generated INR 375 crores in FY25, targeting INR 750 crores in 18-24 months.

Outlook and guidance

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

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

• EBITDA margin guidance for FY26: 16.5%-17%, with potential for 75-100 bps improvement over 12-18 months.

• Focus on efficiency, cost reduction, and integration of acquisitions to drive margin expansion.

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