Pitti Engineering Limited announces Financial Results for Q1 FY25

Pitti Engineering Limited has declared its consolidated financial results for the Quarter ended June 30, 2024.

Q1 FY25 Consolidated Financial Highlights

- Total Revenue was at ₹386.71 crores, as compared to ₹290.71 crores in Q1 FY24, up by 33.02%.

- EBITDA was at ₹56.35 crores, as compared to ₹42.43 crores, registered a growth of 32.81%

- Net Profit was at ₹20.55 crores, as compared to ₹13.97 crores in Q1 FY24, clocking a growth of 47.10%

Q1 FY25 Standalone Financial Highlights

- Total Revenue was at ₹ 354.45 crores, as compared to ₹290.71 crores in Q1 FY24, up by 21.93%.

- EBITDA was at ₹54.34 crores, as compared to ₹42.43 crores, registered a growth of 28.07%

- EBITDA per tonne stands at ₹43,785 as compared to ₹42,607 in Q1 FY24, registered a growth of 2.77%

- Net Profit was at ₹19.70 crores, as compared to ₹13.97 crore in Q1 FY24, clocking a growth of 41.02%

Operational Highlights:

- Achieved sales volume of rotating electrical equipment 14,992 MT in Q1 FY25 on consolidated basis. The market outlook remains positive with robust demand for our products and services

- The capex expansion is expected to be completed by the end of September 2024 as planned. Civil work is completed, and the commissioning of machines is ongoing. Upon completion of installation the installed capacity will be increased by 16,000 MTPA taking the standalone capacity to 72,000 MTPA and 90,000TPA on a consolidated basis.

Commenting on the results, Mr. Akshay S. Pitti, Managing Director & Chief Executive Officer said, "I am delighted that the company reported the highest ever sales and EBITDA for a quarter in Q1FY25. Consolidated total revenue was ₹386.71 crores and EBITDA was ₹56.35 crores. The net profit for the quarter grew by 47.10% to ₹20.55 crores. We also achieved the highest ever sales volume for a quarter at 14,992MT, solidifying our position as the largest manufacturer of laminations in India. The expansion plan is on track for commissioning by the end of September. We continue to see robust demand from almost all our end markets. On the back of strong performance in Q1 coupled with the enhanced capacities & acquisitions, I believe that we are well positioned to surpass our annual targets."

Shares of Pitti Engineering Limited was last trading in BSE at Rs. 1303.80 as compared to the previous close of Rs. 1292.00. The total number of shares traded during the day was 11750 in over 1747 trades.

The stock hit an intraday high of Rs. 1316.80 and intraday low of 1266.00. The net turnover during the day was Rs. 15158881.00.

Source : Equity Bulls

Keywords

PittiEngineering INE450D01021 Q1FY25 Q1FY2025 FY2025 ResultUpdate