MoneyWorks4Me

Pix Transmissions Ltd (PIXTRANS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500333 NSE: PIXTRANS Rubber Products | Small Cap | Pix Transmission Share Price

₹1,720.60 -5.75 (-0.33%)

As on 11-Sep'26 16:59

Pix Transmissions Ltd (PIXTRANS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500333 NSE: PIXTRANS Rubber Products | Small Cap | Pix Transmission Share Price

₹1,720.60 -5.75 (-0.33%)

As on 11-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,344 Cr.
Current Price
₹1,720.6
52-Week Low / High
₹1,256 / 2,090
TTM EPS
₹96.7
TTM Sales
₹610 Cr.
Book Value per Share
₹550
P/E Ratio
17.79
Lower than its 5-year historical median
Industry PE
22.9
Price to Book (P/B)
3.13
Lower than its 5-year historical median
Price to Sales (P/S)
3.84
In line with its 5-year historical median
EV/EBITDA
11.20
Lower than its 5-year historical median
Dividend Yield
0.52%
Profitability Efficiency
Return on Equity (ROE)
16.54%
Outperforms industry median
Return on Capital Employed (ROCE)
21.86%
Outperforms industry median
Return on Assets (ROA)
13.70%
Operating Profit Margin
28.1%
Net Profit Margin
18.36%
Gross Profit Margin
27.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-4.59%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-7.9%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-5.31%
Asset Quality
Promoter Holding
62.06%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹736 Cr.
Equity
₹13.6 Cr.
Face Value
₹10
All Time Low / High
₹2.50 / 2796.45

Pix Transmissions stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Semi Strong
Q.1 Is Pix Transmissions Ltd a good quality company?
Pix Transmissions Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Pix Transmissions Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Pix Transmissions Ltd vs industry peers?
Pix Transmissions Ltd revenue CAGR is 8.90%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Pix Transmissions Ltd?
Promoters hold 62.06% of the Pix Transmissions Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Pix Transmissions Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 41.5% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Pix Transmissions Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 13.4%15.9%16.1%13.7%26.2%22.4%17.8%22.8%26.7%20.5%-
Value Creation
Index
-0.10.10.20.00.90.60.30.60.90.5-

Growth Parameters

Sales 235251290298354417450455556530554
Sales YoY Gr.-6.8%15.7%2.6%18.9%17.8%8%1%22.2%-4.6%-
Adj EPS 9.614.518.317.14442.936.255.173.864.985.1
YoY Gr.-51.3%26.5%-6.7%157.6%-2.5%-15.7%52.3%34%-12%-
BVPS (₹) 124.6137.2155.7171.1213.6253.7285.5337.5407.5466.8502.2
Adj Net
Profit
1319.72523.36058.549.37510188.5116
Cash Flow from Ops. 27.631.645.250.557.954101133109150-
Debt/CF from Ops. 4.63.32.521.22.20.70.30.30.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.5%8.4%5.6%-4.6%
Adj EPS 23.7%8.1%21.5%-12%
BVPS15.8%16.9%17.8%14.6%
Share Price 41.3% 16.4% 15.6% 19.6%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
8.11112.510.522.918.413.417.719.814.917.6
Op. Profit
Mgn %
19222019.130.225.120.425.228.226.923.8
Net Profit
Mgn %
5.67.98.67.817141116.518.116.720.9
Debt to
Equity
0.80.60.50.40.20.30.20.10.10-
Working Cap
Days
191200183185165179187172141151149
Cash Conv.
Cycle
123135137140117126132122102115126

Valuation of Pix Transmission - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales252264309319380449486493593582
Operating Expenses + 204206250258269334382373426429
Manufacturing Costs18182224274659627571
Material Costs8282112108135172186183204197
Employee Cost 505561697570948291101
Other Costs 53525558334643465659
Operating Profit 48585960111115105120167154
Operating Profit Margin (%) 19.0%21.9%19.2%18.9%29.3%25.7%21.5%24.4%28.1%26.4%
Other Income + 65785814191417
Exceptional Items 0000000000
Interest 16151312988644
Depreciation 13151619202123232423
Profit Before Tax 24343837879587111153144
Tax 81197222622284037
Profit After Tax 1623293065696583113107
PAT Margin (%) 6.5%8.5%9.2%9.5%17.1%15.3%13.3%16.8%19.0%18.4%
Adjusted EPS (₹)11.916.621.022.247.650.547.660.982.978.5
Dividend Payout Ratio (%)16.80%15.10%13.10%9%10.50%11.90%12.60%11.50%10.90%11.50%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 171189214236300365418493596697
Share Capital 14141414141414141414
Reserves 157175200223286351404479582683
Debt +1281051131016610357332418
Long Term Debt50424743386148332418
Short Term Debt7863665828419000
Minority Interest0000000000
Trade Payables21211922302724312726
Others Liabilities 35383841446080808489
Total Liabilities 355353385400440555579637730830

Fixed Assets

Net Fixed Assets +174187199219226259273276267269
Gross Block290316343379394446475495506529
Accumulated Depreciation116129144160168187201219239260
CWIP 50100001223
Investments 23118745575128200
Inventories476470739712510598120102
Trade Receivables616568688295105110122135
Cash Equivalents 171013181532535669108
Others Assets 28161715163936202413
Total Assets 355353385400440555579637730830
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 273147525855112137108171
PBT 24343837879587111153144
Adjustment 24252727292833272941
Changes in Working Capital -16-18-4-3-35-441626-3322
Tax Paid -6-10-13-9-23-23-23-27-41-36
Cash Flow From Investing Activity + -15-14-34-28-16-72-22-88-77-89
Capex 2-23-38-30-22-71-24-26-19-23
Net Investments -10004-31-63-60-69
Others -16942211122
Cash Flow From Financing Activity + -13-25-10-19-4331-69-46-27-33
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 2-85-4000000
Interest Paid -14-13-11-11-8-7-7-5-4-3
Dividend Paid -1-3-3-4-3-7-8-8-9-12
Others -0-1-1-1-3245-53-33-14-17
Net Cash Flow -1-735-214213349
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)10.0912.5514.1913.4424.2220.7216.5618.2320.7316.54
ROCE (%)14.0316.4516.2414.8427.2624.1119.4822.6326.8721.86
Asset Turnover Ratio0.730.750.840.810.950.940.860.820.890.77
PAT to CFO Conversion(x)1.691.351.621.730.890.81.721.650.961.6
Working Capital Days
Receivable Days82.4086.6078.3077.5068.1069.4075.107969.4078.10
Inventory Days65.8076.8079.3081.9077.5086.908674.6065.2067.40
Payable Days93.1093.8065.3068.707060.6050.2054.9052.2049.40

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Pix Transmissions Ltd FAQs

The current trading price of Pix Transmission on 11-Sep-2026 16:59 is ₹1,720.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Pix Transmission stood at ₹2,344.4 Cr

The latest P/E ratio of Pix Transmission as of 10-Sep-2026 is 20.22.

The latest P/B ratio of Pix Transmission as of 10-Sep-2026 is 3.43.

The 52-week high of Pix Transmission is ₹2,090.2 and the 52-week low is ₹1,255.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Pix Transmission is ₹554 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Pix Transmissions Ltd is a good quality company.

The key valuation ratios of Pix Transmissions Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Pix Transmissions Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Pix Transmissions Ltd

PIX Transmissions Limited established in 1982 is the fastest emerging global leader in power & fluid transmission business. It is engaged into the manufacturing of World Class Quality Industrial & Automotive Belts, Hoses, Hose Assemblies and End Fittings to suit various Power Drive needs.

PIX has got the best infrastructure in the industry which is not only taking care of its existing expanding needs but is also sufficient to accommodate its further expansion plans.

The fully-automated mixing plant commenced its operation from June 2009. Also its upcoming state-of-the-art facility of Rigid Mandrel Hose at Bazargaon will help in attaining an extra edge over its competitors in terms of added product range at competitive price.

It is also the first Indian company to establish JVs in United Kingdom, Brasil, Germany, Northern  Ireland, UAE & China, as a result it is able to serve its customers better and market its products extensively to various parts of the world.

PIX  has got the widest network of Channel Partners overseas. With distribution network in 45 countries and its products being exported to over 70 countries globally, it has got a niche over its counterparts in terms of reach and market penetration.

Subsidiaries of the company:

  • PIX Europe Limited
  • PIX South America Limited
  • PIX Germany GmbH
  • PIX Flexequip Hydraulics Ltd.
  • PIX Middle East FZC
  • PIX Hydraulics & Transmissions, Hangzhou, China

Product range of the company includes:

Mechanical Power Transmission Products

  • PIX Industrial Belts
  • Automotive Belts & Allied Products
  • PIX X'act Synchronous or Timing Belts
  • Profile Top Belts
  • Special Construction Belts
  • Application Specific Belts

Fluid Power Transmission Products

  • PIX Performer Hydraulic Hoses
  • PIX Performer/T Hydraulic Hoses
  • PIX Prokomp Compact Hydraulic Hoses
  • PIX Brute/ K Hydraulic Hoses
  • PIX Brute/ K+ Hydraulic Hoses
  • PIX Thermal Hydraulic Hoses
  • PIX X'el Extra High Pressure Hydraulic Hoses
  • PIX Optimal Hydraulic Hoses
  • Mining PRO Hydraulic Hoses
  • PIX Aquawash Hoses
  • PIX Special Application Hoses
  • PIX Pulsar Spiral Hose
  • PIX Impetus Spiral Hose
  • PIX Tex'el Industrial Hoses
  • PIX Tex'el TP Thermoplastic Hoses

End Connectors

  • PIX X'el FIT End Fittings
  • Standard Fittings
  • Interlock Fittings
  • Reusable Fittings

Accessories

Adapters

Achievements/ recognition:

  • Its decades of extensive interaction with the customers all over the world has perfected it into the art of making Belts and Hoses as a result it has distinguished itself in the Power & Fluid Transmissions Industry by having number of approvals from various Global Certifying authorities -
  • It is an ISO/TS 16949:2002, ISO 14001 & OHSAS 18001 certified company.
  • The company is the recipient of ATEX certification from Germany, certifying its belts meeting with the essential Health and Safety norms for its entire range of fire-resistant antistatic belts.
  • It has achieved prestigious approval for Hoses such as MSHA, GL, DGMS & DNV.
  • It is the only Indian company to receive the special award for 'Outstanding Export Performance' given by Export Promotion Council, Govt. of India, consistently for last several years.
  • PIX is also the recipient of the prestigious 'Niryat Shree' award for achieving outstanding performance in the export of its products.
  • In 2009 PIX Bagged AIRIA's Highest Export Award.
  • 2011 Pix Transmissions Ltd awarded the prestigious Trading House.
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