Pitti Engineering Limited has announced its consolidated financial results for the second quarter (Q2) and the first half (H1) of the fiscal year 2025, reflecting a series of record-breaking achievements across revenue and profit metrics. The Hyderabad-based engineering leader reported a total income of ₹850.06 crore for H1 FY25, marking a substantial 37.1% year-on-year (YoY) growth. The firm’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also increased by an impressive 59.83%, reaching ₹124.09 crore, while net profits (PAT) soared by a remarkable 105%, hitting ₹57.38 crore.

Record-Breaking Growth and Strategic Moves

In Q2 FY25, Pitti Engineering posted a total income of ₹455.25 crore, a 44.39% increase compared to the same period last year, while EBITDA rose by 48.27% to ₹66.07 crore. The firm’s Q2 PAT climbed to ₹38.02 crore, a 72.74% jump year-on-year, further underscoring its profitability. These record numbers reflect the highest-ever consolidated revenue, EBITDA, and PAT the company has achieved in any half-yearly period, as highlighted by Managing Director and CEO Akshay S. Pitti, who shared optimism for the firm’s continued performance, backed by strategic expansions and mergers.

Mr. Pitti indicated that the company has seen tremendous growth across all major performance indicators for the first half of the fiscal year. He attributed this success to synergies from recent strategic acquisitions, particularly citing the July acquisition of Dakshin Foundry Private Limited. This acquisition transformed Dakshin Foundry into a wholly-owned subsidiary, enhancing Pitti’s production capabilities and supply chain integration within the engineering sector.

Sales Volume and Revenue Surge

The company’s sales volume in Q2 reached 16,300 metric tons (MT), reflecting a 57.64% YoY increase. This sales boost aligned closely with the revenue surge, propelling Pitti Engineering’s market presence in electrical steel laminations, motor cores, sub-assemblies, and specialized engineering components. The rise in demand across industries such as renewable energy, automotive, and data center generators underscores the company’s stronghold in manufacturing rotating electrical equipment and machined components.

For the first half of the fiscal year, Pitti Engineering’s sales volume reached 31,292 MT, up 54.16% from H1 FY24, reinforcing its leadership in electrical laminations and machined components. The company’s strategic placement in verticals like power generation, renewable energy, and specialty motors positions it as a significant player in the engineering sector.

Financial Health and Debt Management

The company’s net debt as of September 30, 2024, stood at ₹330.42 crore, with a net debt-to-equity ratio of 0.38, reflecting a balanced approach to financial leverage. The firm also raised ₹359.99 crore through a Qualified Institutional Placement (QIP) during the quarter, fully allocated toward strategic objectives as outlined in its placement document.

Pitti Engineering’s recent amalgamation of Pitti Castings Private Limited and Pitti Rail and Engineering Components Limited, under a National Company Law Tribunal (NCLT) approved scheme, has further strengthened its operational and financial framework. This consolidation is expected to bring enhanced efficiencies, streamline processes, and integrate expertise across various engineering domains.

Industry and Expert Insights

Industry analysts view Pitti Engineering’s growth trajectory as reflective of an upward trend in the Indian engineering and manufacturing sectors, especially given the increasing demand for components in renewable energy and automotive industries. Experts believe that the company’s focus on integrating acquisitions and enhancing its production efficiency has put it in a favorable position for sustainable growth. Mr. Pitti commented that the company remains committed to leveraging the synergies from its recent expansions to drive continued financial and operational excellence.

Outlook and Future Strategies

Looking forward, Pitti Engineering is expected to further capitalize on its recent expansions and consolidate its position across its verticals. With a diversified product portfolio spanning electrical laminations, motor cores, and rotating equipment, the company is well-positioned to meet rising demand from industries undergoing rapid transformation toward renewable and high-efficiency solutions.

  Akshay S. Pitti, BSE, Dakshin Foundry Private Limited, Hyderabad, NSE, Pitti Engineering Limited