BSE: 513519 | NSE: PITTIENG | Engineering | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Pitti Engineering Ltd is a average quality company.
The key valuation ratios of Pitti Engineering Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Pitti Engineering Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.7% | 2.1% | 7.8% | 11.3% | 16.8% | 12.7% | 14.9% | 20.1% | 20.2% | 21.8% | - |
| Value Creation Index ⓘ | -0.2 | -0.9 | -0.4 | -0.2 | 0.2 | -0.1 | 0.1 | 0.4 | 0.4 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 341 | 311 | 286 | 379 | 622 | 525 | 518 | 954 | 1,100 | 1,202 | 1,352 |
| Sales YoY Gr. | - | -8.7% | -8.2% | 32.5% | 64.3% | -15.6% | -1.3% | 84.1% | 15.3% | 9.2% | - |
| Adj EPS ⓘ | 3.5 | -3.6 | 1 | 4 | 8.3 | 5.3 | 9.3 | 16.3 | 19.4 | 28.6 | 30.3 |
| YoY Gr. | - | -202.9% | NA | 299% | 109% | -36.1% | 75.1% | 75% | 18.9% | 47.4% | - |
| BVPS (₹) ⓘ | 43.5 | 39.6 | 41.7 | 50.1 | 57.3 | 64.8 | 73.6 | 88.6 | 104.2 | 129.9 | 244.8 |
| Adj Net Profit ⓘ | 9.3 | -9.6 | 2.7 | 11.9 | 24.9 | 17.1 | 29.9 | 52.4 | 62.2 | 91.7 | 107 |
| Cash Flow from Ops. ⓘ | 45 | -7.1 | 72.9 | 28.5 | 70.6 | 68.9 | 34.3 | 87.9 | 223 | 73.6 | - |
| Debt/CF from Ops. ⓘ | 3.2 | -24.6 | 2.5 | 9 | 3.5 | 3.2 | 7.4 | 3.7 | 1.3 | 7.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15% | 14.1% | 32.4% | 9.2% | ||||
| Adj EPS ⓘ | 26.5% | 28% | 45.3% | 47.4% | ||||
| BVPSⓘ | 12.9% | 17.8% | 20.9% | 24.6% | ||||
| Share Price | 46.7% | 97.3% | 85.2% | 83.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.2 | -8.5 | 2.5 | 8.9 | 15.1 | 8.9 | 13.5 | 20.1 | 20.1 | 24.4 | 16.2 |
| Op. Profit Mgn % ⓘ | 11.9 | 6.1 | 11.7 | 14.6 | 14.8 | 14.8 | 15.4 | 13.9 | 14.2 | 15 | 15.3 |
| Net Profit Mgn % ⓘ | 2.7 | -3.1 | 0.9 | 3.1 | 4 | 3.3 | 5.8 | 5.5 | 5.7 | 7.6 | 8 |
| Debt to Equity ⓘ | 1.2 | 1.6 | 1.6 | 1.7 | 1.4 | 1.1 | 1.1 | 1.1 | 0.9 | 1.3 | 0.3 |
| Working Cap Days ⓘ | 221 | 265 | 283 | 235 | 165 | 196 | 221 | 164 | 159 | 158 | 95 |
| Cash Conv. Cycle ⓘ | 99 | 153 | 130 | 82 | 68 | 90 | 108 | 64 | 43 | 35 | 21 |
Sales growth is growing at healthy rate in last 3 years 32.36%
Net Profit is growing at healthy rate in last 3 years 45.27%
Sales growth is good in last 4 quarters at 25.58%
Return on Equity has declined versus last 3 years average to 16.20%
Debt to equity has increased versus last 3 years average to 1.29
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 30.3 | 31.7 |
| TTM Sales (₹ Cr.) | 1,352 | 1,434 |
| BVPS (₹.) ⓘ | 244.8 | 245.9 |
| Reserves (₹ Cr.) ⓘ | 850 | 854 |
| P/BV ⓘ | 5.39 | 5.36 |
| PE ⓘ | 43.55 | 41.68 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 622.00 / 1449.20 |
| All Time Low / High (₹) | 0.25 / 1449.20 |
| Market Cap (₹ Cr.) | 4,679 |
| Equity (₹ Cr.) | 17.7 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 46.2 |
| Pledged * | 20.47 | 20.47 | 20.47 | 20.47 | 20.47 | 20.47 | 20.47 | 20.47 | 20.47 | 10.23 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 341 | 311 | 286 | 379 | 622 | 525 | 518 | 954 | 1,100 | 1,202 |
| Operating Expenses ⓘ | 301 | 292 | 252 | 324 | 532 | 447 | 440 | 822 | 949 | 1,024 |
| Manufacturing Costs | 15 | 15 | 13 | 14 | 17 | 21 | 19 | 27 | 32 | 50 |
| Material Costs | 223 | 203 | 176 | 247 | 429 | 345 | 335 | 678 | 782 | 806 |
| Employee Cost | 29 | 39 | 32 | 35 | 51 | 53 | 54 | 77 | 87 | 106 |
| Other Costs ⓘ | 33 | 34 | 31 | 29 | 36 | 29 | 32 | 40 | 48 | 61 |
| Operating Profit ⓘ | 41 | 19 | 34 | 54 | 90 | 78 | 78 | 132 | 151 | 178 |
| Operating Profit Margin (%) | 11.9% | 6.1% | 11.7% | 14.4% | 14.5% | 14.8% | 15.1% | 13.8% | 13.8% | 14.8% |
| Other Income ⓘ | 2 | 2 | 5 | 3 | 2 | 4 | 20 | 17 | 18 | 48 |
| Interest ⓘ | 11 | 17 | 17 | 23 | 30 | 34 | 30 | 40 | 45 | 50 |
| Depreciation ⓘ | 16 | 15 | 16 | 18 | 22 | 27 | 30 | 39 | 45 | 54 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 15 | -11 | 5 | 16 | 40 | 20 | 39 | 71 | 80 | 122 |
| Tax ⓘ | 6 | -2 | 1 | 5 | 17 | 3 | 10 | 19 | 21 | 32 |
| Profit After Tax | 9 | -10 | 4 | 11 | 24 | 17 | 29 | 52 | 59 | 90 |
| PAT Margin (%) | 2.7% | -3.1% | 1.5% | 3.0% | 3.8% | 3.3% | 5.6% | 5.4% | 5.3% | 7.5% |
| Adjusted EPS (₹) | 3.5 | -3.5 | 1.6 | 3.8 | 8.0 | 5.3 | 9.0 | 16.2 | 18.4 | 28.1 |
| Dividend Payout Ratio (%) | 29% | 0% | 0% | 0% | 0% | 0% | 0% | 13% | 15% | 5% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 117 | 107 | 112 | 150 | 171 | 208 | 236 | 284 | 334 | 416 |
| Share Capital ⓘ | 13 | 13 | 13 | 15 | 15 | 16 | 16 | 16 | 16 | 16 |
| Reserves ⓘ | 104 | 93 | 99 | 135 | 156 | 192 | 220 | 268 | 318 | 400 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 136 | 167 | 166 | 236 | 228 | 200 | 235 | 294 | 265 | 466 |
| Long Term Debt | 27 | 26 | 57 | 89 | 76 | 44 | 51 | 110 | 122 | 263 |
| Short Term Debt | 110 | 141 | 109 | 148 | 152 | 157 | 185 | 184 | 143 | 203 |
| Trade Payables | 85 | 67 | 106 | 108 | 104 | 97 | 105 | 220 | 251 | 228 |
| Others Liabilities ⓘ | 29 | 21 | 26 | 55 | 82 | 91 | 125 | 158 | 128 | 220 |
| Total Liabilities ⓘ | 368 | 362 | 410 | 549 | 584 | 596 | 701 | 956 | 978 | 1,330 |
Fixed Assets | ||||||||||
| Gross Block | 159 | 163 | 191 | 317 | 356 | 400 | 461 | 538 | 616 | 722 |
| Accumulated Depreciation | 72 | 87 | 97 | 114 | 126 | 153 | 176 | 214 | 253 | 300 |
| Net Fixed Assetsⓘ | 87 | 76 | 94 | 204 | 230 | 247 | 285 | 325 | 362 | 422 |
| CWIP ⓘ | 10 | 12 | 31 | 9 | 5 | 8 | 1 | 1 | 24 | 118 |
| Investmentsⓘ | 16 | 16 | 17 | 17 | 16 | 16 | 16 | 16 | 15 | 15 |
| Inventories | 106 | 118 | 127 | 129 | 100 | 127 | 157 | 272 | 239 | 270 |
| Trade Receivables | 103 | 112 | 90 | 137 | 182 | 139 | 172 | 204 | 181 | 210 |
| Cash Equivalents | 15 | 18 | 11 | 14 | 14 | 15 | 9 | 35 | 65 | 109 |
| Others Assetsⓘ | 31 | 10 | 40 | 39 | 36 | 43 | 61 | 103 | 90 | 184 |
| Total Assets ⓘ | 368 | 362 | 410 | 549 | 584 | 596 | 701 | 956 | 978 | 1,330 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 45 | -7 | 73 | 28 | 71 | 69 | 34 | 88 | 223 | 74 |
| PBT ⓘ | 15 | -11 | 5 | 16 | 40 | 20 | 39 | 71 | 80 | 122 |
| Adjustment ⓘ | 27 | 32 | 30 | 44 | 52 | 63 | 55 | 76 | 88 | 97 |
| Changes in Working Capital ⓘ | 6 | -24 | 38 | -30 | -17 | -4 | -53 | -41 | 89 | -135 |
| Tax Paid ⓘ | -3 | -4 | 0 | -1 | -5 | -10 | -6 | -18 | -35 | -10 |
| Cash Flow From Investing Activity ⓘ | -20 | -7 | -56 | -113 | -46 | -46 | -66 | -93 | -104 | -236 |
| Capex | -20 | -9 | -58 | -114 | -45 | -49 | -65 | -78 | -105 | -198 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 2 | 1 | 1 | -1 | 3 | -2 | -15 | 1 | -38 |
| Cash Flow From Financing Activityⓘ | -20 | 14 | -20 | 86 | -26 | -21 | 28 | 12 | -87 | 198 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 31 | 0 | 20 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 7 | 39 | 40 | -2 | -30 | -5 | 48 | 6 | 187 |
| Interest Paid ⓘ | -11 | -17 | -15 | -23 | -28 | -31 | -26 | -34 | -45 | -51 |
| Dividend Paid ⓘ | -3 | -2 | 0 | 0 | 0 | 0 | 0 | -4 | -8 | -4 |
| Others ⓘ | -5 | 27 | -44 | 39 | 5 | 21 | 59 | 2 | -41 | 66 |
| Net Cash Flow ⓘ | 6 | 0 | -4 | 1 | -2 | 3 | -4 | 7 | 32 | 36 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.15 | -8.53 | 3.93 | 8.61 | 14.8 | 9.03 | 12.97 | 19.97 | 19.04 | 24.04 |
| ROCE (%) | 10.72 | 2.07 | 7.83 | 11.33 | 16.82 | 12.72 | 14.89 | 20.08 | 20.21 | 21.8 |
| Asset Turnover Ratio | 1.08 | 0.9 | 0.83 | 0.91 | 1.22 | 0.99 | 0.89 | 1.3 | 1.29 | 1.17 |
| PAT to CFO Conversion(x) | 5 | N/A | 18.25 | 2.55 | 2.96 | 4.06 | 1.17 | 1.69 | 3.78 | 0.82 | Working Capital Days |
| Receivable Days | 84 | 119 | 115 | 95 | 85 | 101 | 99 | 64 | 57 | 53 |
| Inventory Days | 102 | 124 | 139 | 107 | 61 | 71 | 90 | 73 | 75 | 69 |
| Payable Days | 116 | 136 | 178 | 158 | 90 | 106 | 110 | 88 | 110 | 108 |
Pitti Laminations Ltd started production in 1987. It is located in Hyderabad, Andhra Pradesh, India and its factories are located in a 50KM radius of the city. Pitti Laminations Limited was the first in the country in lamination industry to have achieved ISO 9002 certification by BVQI of U.K. in October 1993.
The company is engaged in the manufacturing of electrical laminations for use in all types of motors for a wide spectrum of applications, alternators, DC machines, railway lighting alternators etc. They make single piece laminations upto 1300 mm (51 inches) diameter.
Laminations upto 700 mm (27 inches) diameter by single blow (gang punching) operation and upto 1300 mm (51 inches) diameter by single point notching including skip notching.They are located in Hyderabad, Andhra Pradesh, India. Their factories are located in a 50KM radius of the city.
Plant - I of the company is having capacity of 6000 Tons per annum in operation while Plant – II of the company is of capacity 4000 Tons per annum and is dedicated to the export market.
The plant – II is equipped with high Speed Presses, Presses from 100 to 350 Tons capacity, Hydraulic Presses from 40 – 150 Tons capacity and additional tool room machinery.
The company manufactures electrical laminations up to a diameter of 1300 mm (51â€) for application in industrial motors, DC machines, alternators, traction motors, pumps, train lighting generators, aeronautics, medical diagnostics equipments, windmill generators, laminations for specialised applications, die-cast rotors, assembled stators and built-up rotors duly balanced. It produces small laminations via High Speed Press for compressors.
The company also manufactures Press tools, Progressive tools Jigs, Fixtures to customer requirements.
Product range of the company includes:
Achievements/ recognition:
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