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Pitti Engineering logs 80.30% yoy growth in FY22; stock ends ~4% lower

Company’s PAT for FY22 was reported at Rs51.89 crore as compared to Rs28.78 crore in FY21, registering a growth of 80.30% yoy.

May 24, 2022 3:28 IST | India Infoline News Service
Pitti Engineering Limited has declared its financial results for the Quarter and Year ended March 31, 2022.

Revenue from operations for Q4FY22 was at Rs271.39 crore, as compared to Rs170.34 crore in Q4FY21, registered a growth of 59.32% yoy. Whereas, revenue from operations for FY22 stood at Rs953.82 crore, clocking a growth of 84.07% yoy as compared to Rs518.17 crore in FY21.

EBITDA during Q4FY22 was reported at Rs35.37 crore, as compared to Rs26.72 crore in Q4FY21, registering a growth of 32.37% yoy. For FY22, EBITDA was reported at Rs132.63 crore as compared to Rs78.05 crore in FY21, up by 69.93% yoy.

Company’s PAT for FY22 was reported at Rs51.89 crore as compared to Rs28.78 crore in FY21, registering a growth of 80.30% yoy. Whereas PAT for Q4FY22 was Rs20.01 crore as compared to Rs21.21 crore in Q4FY21.

EBITDA margin was reported as 13.03% in Q4FY22 and 13.91% in FY22. PAT margin settled at 6.99% for Q4FY22, and 5.35% in FY22.

In Q4, the company developed various machine components for off-highway application and locomotive application & other machined parts for locomotives with an annual revenue potential of Rs95 crore.

These developments will start contributing meaningful revenue from H2FY23.

Pitti Engineering is currently trading at Rs264.95 down by Rs10.1 or 3.67% from its previous closing of Rs275.05 on the BSE. The scrip touched intraday high and low of Rs275.90 and Rs263 respectively.

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