{"id":23155,"date":"2022-02-11T18:33:23","date_gmt":"2022-02-11T13:03:23","guid":{"rendered":"https:\/\/tradebrains.in\/features\/pitti-engineering-limited\/"},"modified":"2022-02-11T18:36:04","modified_gmt":"2022-02-11T13:06:04","slug":"pitti-engineering-limited","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pitti-engineering-limited\/","title":{"rendered":"Pitti Engineering Limited"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1813555500\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Financial Results \u2013 Q3 &#038; 9MFY22     Net Revenue at \u20b9 264.83crore; up by 75.01%  EBITDA was at \u20b9 34.28crore; up by 35.92%   PAT was at \u20b9 11.52 crore: up by 58.68%  Hyderabad, February 11, 2022: Pitti Engineering Ltd., leading Engineering Company, has declared its financial results for the Quarter ended December 31, 2021.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-520523195\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Q3FY22 &#8211; Financial Highlights   \u2022  Revenue from Operations was at \u20b9 264.83 crore as compared to \u20b9 151.32 crore in Q3FY21; registered a growth of 75.01%  \u2022  EBITDA was at \u20b9 34.28 crore as compared to \u20b9 25.22 crore in Q3FY21; increased by 35.92 %  \u2022  Blended EBITDA per MT was at \u20b9 40128 as compared to \u20b9 37786 in Q3FY21; increased by 6.20%  \u2022  Net Profit was at \u20b9 11.52 crore as compared to \u20b9 7.26 crore in Q3FY21; registered a growth of 58.68%   Operational Highlights   \u2022  The Company has received LOI for supply of stator and rotors from two reputed customers manufacturing e-bicycles and 2 wheelers in the EV space and has also received major approvals for certain products from Indian Railways having potential of high-volume runners in long run.<\/p>\n<p> \u2022  The Company has also received a LOI and sample order for supply of components for power motors from a very well-established power tool manufacturer and bagged an order from TMEIC to supply stator assembly, complete rotor, diecast with shaft drop &#038; air gap machined worth \u20b9 15 crore and to supply of 3.4 MW wind generator stator and rotor assembly from Siemens Gamesa valuing about \u20b9 13.5 crore.<\/p>\n<p> \u2022  The global supply chain disruptions due to Omicron has delayed the supply of machinery from Europe, Japan and China which were expected during the December quarter. We expect the same to arrive in Q4 and available for production in Q1 FY23.<\/p><div class=\"trade-content_5\" id=\"trade-272802596\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u2022  Board of Directors have recommended 8% third interim dividend of face value of \u20b9 5 per share, amounting to 40 paisa per share.<\/p>\n<p> Commenting on the results, Mr. Akshay S Pitti, Vice-Chairman &#038; Managing Director said,   We are delighted to report a good set of numbers for the 9 months ending on December 31, 2021.<\/p>\n<p> The Indian economy has continued to show its resilience amongst the 3rd wave of Covid. The GDP growth rate forecast at 8% &#8211; 8.5% for FY23 by the Government remains highest in the major global economies. The growth focused Union Budget 2022 lays down a road map with historic allocations of \u20b9 7.50 lakh crores capex for developmental projects. PM Gatishakti Master Plan, extension of date for setting up new units for availing lower income tax benefits, increased allocation for ECLGS, focus on productivity enhancement, measures to increase EV ecosystem, promotion of data centres and data localisation, and announcement of additional Vande Bharat express trains etc. has laid out a path for long term sustainable growth for the country. We at Pitti Engineering are excited about various opportunities this will open for the Company to capitalise on.<\/p>\n<p> The Company is experiencing a flow of new enquiries, new product developments and the conversion of the same in to LOI and the pilot production orders culminating into the commercial production orders in the new as well as the existing end user applications including EV, power tools, wind and hydro power, e-mobility, urban mass transportation, and data centres.<\/p>\n<p> The Company\u2019s total order book stands at \u20b9 987 Cr. as on December 31, 2021.<\/p>\n<p> The Company is also on track for its expansion plan in Aurangabad and has acquired adjoining land. The capex will be completed by end of FY24 with the incremental capacity additions starting from Q1 FY23.<\/p><div class=\"trade-content-10\" id=\"trade-2193407139\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>   PWR PWR<\/p>\n<div class=\"trade-after-content\" id=\"trade-3264462542\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Financial Results \u2013 Q3 &#038; 9MFY22 Net Revenue at \u20b9 264.83crore; up by 75.01% EBITDA was at \u20b9 34.28crore; up by 35.92% PAT was at \u20b9 11.52 crore: up by 58.68% Hyderabad, February 11, 2022: Pitti Engineering Ltd., leading Engineering Company, has declared its financial results for the Quarter ended December 31, 2021. Q3FY22 &#8211; [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-23155","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pitti Engineering Limited - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pitti-engineering-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pitti Engineering Limited\" \/>\n<meta property=\"og:description\" content=\"Financial Results \u2013 Q3 &#038; 9MFY22 Net Revenue at \u20b9 264.83crore; up by 75.01% EBITDA was at \u20b9 34.28crore; up by 35.92% PAT was at \u20b9 11.52 crore: up by 58.68% Hyderabad, February 11, 2022: Pitti Engineering Ltd., leading Engineering Company, has declared its financial results for the Quarter ended December 31, 2021. 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