Pitti Engineering Limited — Updates, 13-11-2024: Press Release

Total Income for H1 of FY25 reached ₹850.06 crore, a 37.10% increase year-on-year. EBITDA surged to ₹124.09 crore, up 59.83%, while PAT doubled to ₹57.38 crore, reflecting a remarkable 105% growth. For Q2FY25, Total Income was ₹455.25 crore, gaining 44.39%; EBITDA grew 48.27% to ₹66.07 crore, and PAT rose 72.74% to ₹38.02 crore. Sales volume also improved significantly, rising to 31,292 MT in H1, up 54.16%, and 16,300 MT in Q2, increasing by 57.64%.

Operationally, the company raised ₹359.99 crore through a Qualified Institutional Placement and acquired 100% equity in Dakshin Foundry Private Limited. The amalgamation scheme with Pitti Castings and Pitti Rail and Engineering has been approved and reflects positively on financial metrics. The net debt stood at ₹330.42 crore, with a Debt to Equity Ratio of 0.38. The outlook remains positive as management aims to leverage synergies from recent acquisitions.