Revised Investor Presentation
PITTIENG · price
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Pitti Engineering has released its revised Q4 and FY26 investor presentation with updated capex plans, capacity utilization and sales volume details. The company reported FY26 total income of Rs. 1,953 Crores (up 12% YoY) and adjusted EBITDA of Rs. 326 Crores (up 20% YoY). Gross margin declined to 39.4% from 40.4%, though EBITDA margin improved to 17.0% from 15.9%. The company has two ongoing capex programs: Rs. 150 Crores (Rs. 100 Crores already incurred) to boost sheet metal and casting capacity by H1FY27, and a new Rs. 290 Crores greenfield facility targeting >2x casting capacity increase by Q1FY30. Capacity utilization improved across all segments in Q4FY26. The expansion is driven by strong order visibility from marquee customers including Caterpillar, Voith, Progress Rail, Siemens Mobility and Medha Servo, across sectors like data centers, mining, off-highway vehicles and railways.
The stock appears supported by strong order visibility from global OEMs and improving capacity utilization, though margin pressure exists. The aggressive capex cycle (Rs. 440 Crores total) increases debt levels but positions the company for future growth in high-value manufacturing segments.