Outcome of Board meeting
PITTIENG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Pitti Engineering's Board approved FY2026 audited results showing revenue from operations of ₹15,900 crore (up 4.3% YoY from ₹15,245 crore), while profit after tax declined 8.7% to ₹975 crore (from ₹1,068 crore). EPS fell to ₹26.30 from ₹29.11. The auditors issued an unmodified (clean) opinion on both standalone and consolidated results. The Board recommended a final dividend of ₹2.50 per share (50% on ₹5 face value). Additionally, the Board approved ₹290 crore capex for a greenfield casting and machined components facility in Macharam, Telangana, to be funded via internal accruals and lease finance, with completion in 3 years. This will double casting capacity to 36,000 MT per annum. The existing Hosakote facility is proposed to be monetized post-commissioning.
Revenue grew modestly while PAT declined significantly, indicating margin compression. The ₹290 crore capex signals confidence in demand outlook but increases future capital obligations. Clean audit opinion removes going concern concerns.