Pitti Engineering ends 3.5% higher post robust Q4 results

Revenue from operations was at Rs170.34cr, as compared to Rs112.95cr in Q4 FY20, registered a growth of 50.81%.

Jun 18, 2021 04:06 IST India Infoline News Service

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Pitti Engineering Limited has declared its financial results for the Quarter and Year ended 31st March, 2021.

Q4FY21 - Financial Highlights:
  • Revenue from operations was at Rs170.34cr, as compared to Rs112.95cr in Q4 FY20, registered a growth of 50.81%
  • EBITDA was at Rs26.71crore, as compared to Rs17.77cr, registered a growth of 50.31%
  • EBITDA Margin has slightly decreased to 15.68% from 15.73% in Q4FY20.
  • Net Profit was at Rs21.21crore, as compared to Rs1.53cr in Q4FY20, grown by 1286.27%
FY21 Financial Highlights:
  • Revenue from operations was at Rs518.17cr, as compared to Rs525.06cr in FY20, decreased by 1.31%
  • EBITDA was at Rs78.04cr, as compared to Rs77.72cr in FY20, grown by 0.41%
  • EBITDA Margin has improved to 15.06% from 14.80% in Q4FY20
  • Net profit was at Rs28.78cr, as compared to Rs17.10cr in FY20, registered a growth of 68.30%
Commenting on the Results, Akshay S Pitti, Vice Chairman & Managing Director, said that “We are very excited with the kind of order flow we are witnessing for our engineering products from OEMs and other customers spread across the segments of Industries the company is presently catering to. We are very confident that we are riding the upward curve in capital goods sector and specific to engineering products.

Be it domestic market or developed markets like USA, Europe and Germany, the focus of the Governments on infra developments and other fiscal policies of respective countries are fuelling the growth for high end engineering products.

We as a company are well geared up to tap this opportunity and have started working on many new products in the areas of Power Systems for Data Firms, Propulsion Systems for Electric Vehicles, Various Sub-assemblies for Intercity Passenger and Freight movement Components for Mass Urban Transit Systems and Renewable Energy and truck frames for locomotives etc.

We expect good growth during FY22, if there are no further disruptions in supply side of the business. International markets have opened up well and is showing good recovery and the same is visible in domestic market too.”

Pitti Engineering ended at Rs131.05 per piece higher by 3.56% on Sensex.

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