Pitti Engineering Limited — Investor Meet, 15-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Pitti Engineering reported strong Q2 & H1 FY26 results with Total Income up 10% YoY to INR499 Cr and EBITDA rising 17.5% to INR78 Cr (16.3% margin). Volume growth was led by high-value laminations and integrated assemblies. Management sees sustained demand across traction motors, railways (32% of Q2 revenue, with international strong), data centers (revenue doubled to 4%), and renewables. New Bangalore capacity is on track for 80% utilization by FY27. Raw material challenges in steel supply are being mitigated by increased imports, impacting inventory and debt. The company aims for long-term growth via strategic diversification into appliances/auto and potential forging expansion (INR250 Cr+ capex). Pitti Engineering is navigating supply chain headwinds while focusing on value-added products and market expansion.