Pitti Engineering Ltd - Stock Valuation and Financial Performance

BSE: 513519 | NSE: PITTIENG | Engineering | Small Cap

Pitti Engineering Share Price

763.80 0.95 0.12%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Pitti Engineering

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Pitti Engineering stock performance -

mw4me loader
P/E Ratio (SA):
32.78
Market Cap:
2,448 Cr.
52-wk low:
268.1
52-wk high:
817.8

Is Pitti Engineering Ltd an attractive stock to invest in?

1. Is Pitti Engineering Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Pitti Engineering Ltd is a average quality company.

2. Is Pitti Engineering Ltd undervalued or overvalued?

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

3. Is Pitti Engineering Ltd a good buy now?

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

10 Year X-Ray of Pitti Engineering:

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.
Pitti Engineering Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7.2%7%0.9%5.2%8.1%11%9.7%11.1%14.6%15.2%-
Value Creation
Index
-0.5-0.5-0.9-0.6-0.4-0.2-0.3-0.20.00.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2483413112863796225255189541,1001,121
Sales YoY Gr.-37.6%-8.7%-8.2%32.5%64.3%-15.6%-1.3%84.1%15.3%-
Adj EPS 1.63.5-3.6148.35.39.316.319.423.3
YoY Gr.-121.2%-202.9%NA299%109%-36.1%75.1%75%18.9%-
BVPS (₹) 41.443.539.641.750.157.364.873.688.6104.2117.4
Adj Net
Profit
4.29.3-9.62.711.924.917.129.952.462.275
Cash Flow from Ops. 33.845-7.172.928.570.668.934.387.9222-
Debt/CF from Ops. 3.63.2-24.62.593.53.27.43.71.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 18%23.8%28%15.3%
Adj EPS 32.3%37.2%53.9%18.9%
BVPS10.8%15.8%17.2%17.7%
Share Price 45.5% 69.4% 125.8% 183.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
3.88.2-8.52.58.915.18.913.520.120.121
Op. Profit
Mgn %
13.211.96.111.714.614.814.815.413.914.215.1
Net Profit
Mgn %
1.72.7-3.10.93.143.35.85.55.76.7
Debt to
Equity
1.11.21.61.61.71.41.11.11.10.9-
Working Cap
Days
29122126528323516519622116415998
Cash Conv.
Cycle
15399153130826890108644314

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 21.00%

Sales growth is growing at healthy rate in last 3 years 27.96%

Net Profit is growing at healthy rate in last 3 years 53.85%

Debt to equity has declined versus last 3 years average to 0.87

Sales growth is not so good in last 4 quarters at 0.84%

Latest Financials - Pitti Engineering Ltd.

Standalone Consolidated
TTM EPS (₹) 23.3 23.3
TTM Sales (₹ Cr.) 1,121 1,121
BVPS (₹.) 117.4 117.4
Reserves (₹ Cr.) 360 360
P/BV 6.50 6.51
PE 32.78 32.78
From the Market
52 Week Low / High (₹) 268.10 / 817.75
All Time Low / High (₹) 0.25 / 817.75
Market Cap (₹ Cr.) 2,448
Equity (₹ Cr.) 16
Face Value (₹) 5
Industry PE 32.8

Management X-Ray of Pitti Engineering:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *20.4720.4720.4720.4720.4720.4720.4720.4720.4720.47
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Pitti Engineering

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2483413112863796225255189541,100
Operating Expenses 215301292252324532447440822949
Manufacturing Costs14151513141721192732
Material Costs153223203176247429345335678782
Employee Cost 24293932355153547785
Other Costs 25333431293629324050
Operating Profit 3341193454907878132151
Operating Profit Margin (%) 13.2%11.9%6.1%11.7%14.4%14.5%14.8%15.1%13.8%13.8%
Other Income 2225324201718
Interest 19111717233034304045
Depreciation 9161516182227303945
Exceptional Items 0000000000
Profit Before Tax 715-115164020397180
Tax 36-215173101921
Profit After Tax 49-104112417295259
PAT Margin (%) 1.7%2.7%-3.1%1.5%3.0%3.8%3.3%5.6%5.4%5.3%
Adjusted EPS (₹)1.63.5-3.51.63.88.05.39.016.218.4
Dividend Payout Ratio (%)32%29%0%0%0%0%0%0%13%15%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 112117107112150171208236284334
Share Capital 13131313151516161616
Reserves 981049399135156192220268318
Minority Interest0000000000
Debt115136167166236228200235294265
Long Term Debt2127265789764451110122
Short Term Debt94110141109148152157185184143
Trade Payables57856710610810497105220251
Others Liabilities 25292126558291125158128
Total Liabilities 309368362410549584596701956978

Fixed Assets

Gross Block143159163191317356400461538616
Accumulated Depreciation56728797114126153176214253
Net Fixed Assets87877694204230247285325362
CWIP 61012319581124
Investments 4161617171616161615
Inventories97106118127129100127157272239
Trade Receivables6410311290137182139172204181
Cash Equivalents 915181114141593565
Others Assets413110403936436110390
Total Assets 309368362410549584596701956978

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3445-7732871693488222
PBT 715-115164020397180
Adjustment 28273230445263557688
Changes in Working Capital 46-2438-30-17-4-53-4189
Tax Paid -5-3-40-1-5-10-6-18-35
Cash Flow From Investing Activity -17-20-7-56-113-46-46-66-93-104
Capex -17-20-9-58-114-45-49-65-78-105
Net Investments 0000000000
Others 00211-13-2-151
Cash Flow From Financing Activity -14-2014-2086-26-212812-86
Net Proceeds from Shares 000031020000
Net Proceeds from Borrowing 0073940-2-30-5486
Interest Paid -19-11-17-15-23-28-31-26-34-46
Dividend Paid -2-3-200000-4-8
Others 7-527-4439521592-39
Net Cash Flow 360-41-23-4732
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.818.15-8.533.938.6114.89.0312.9719.9719.04
ROCE (%)10.5610.722.077.8311.3316.8212.7214.8920.0820.21
Asset Turnover Ratio0.851.080.90.830.911.220.990.891.31.29
PAT to CFO Conversion(x)8.55N/A18.252.552.964.061.171.693.76
Working Capital Days
Receivable Days104841191159585101996457
Inventory Days1341021241391076171907375
Payable Days1201161361781589010611088110

Pitti Engineering Ltd Stock News

Pitti Engineering Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Pitti Engineering on 28-Mar-2024 16:01 is ₹763.8.
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 28-Mar-2024 16:01 the market cap of Pitti Engineering stood at ₹2,448.
The latest P/E ratio of Pitti Engineering as of 28-Mar-2024 16:01 is 32.78.
The latest P/B ratio of Pitti Engineering as of 28-Mar-2024 16:01 is 6.50.
The 52-week high of Pitti Engineering is ₹817.8 and the 52-week low is ₹268.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Pitti Engineering is ₹1,121 ( Cr.) .

About Pitti Engineering Ltd

Pitti Laminations Ltd started production in 1987. It is located in Hyderabad, Andhra Pradesh, India and its factories are located in a 50KM radius of the city. Pitti Laminations Limited was the first in the country in lamination industry to have achieved ISO 9002 certification by BVQI of U.K. in October 1993.

The company is engaged in the manufacturing of electrical laminations for use in all types of motors for a wide spectrum of applications, alternators, DC machines, railway lighting alternators etc. They make single piece laminations upto 1300 mm (51 inches) diameter.

Laminations upto 700 mm (27 inches) diameter by single blow (gang punching) operation and upto 1300 mm (51 inches) diameter by single point notching including skip notching.They are located in Hyderabad, Andhra Pradesh, India. Their factories are located in a 50KM radius of the city.

Plant - I   of the company is having capacity of 6000 Tons per annum in operation while Plant – II of the company is of  capacity 4000 Tons per annum and is dedicated to the export market.

The plant – II is equipped with high Speed Presses, Presses from 100 to 350 Tons capacity, Hydraulic Presses from 40 – 150 Tons capacity and additional tool room machinery.

The company manufactures electrical laminations up to a diameter of 1300 mm (51”) for application in industrial motors, DC machines, alternators, traction motors, pumps, train lighting generators, aeronautics, medical diagnostics equipments, windmill generators, laminations for specialised applications, die-cast rotors, assembled stators and built-up rotors duly balanced. It produces small laminations via High Speed Press for compressors.

The company also manufactures Press tools, Progressive tools Jigs, Fixtures to customer requirements. 

Product range of the company includes:

  • Industrial motors
  • DC Machines
  • Alternators
  • Traction Motors
  • Pumps
  • Train lighting generators
  • Aeronautics
  • Medical diagnostics equipments
  • Windmill generators
  • Laminations for specialised applications
  • Die-Cast Rotors
  • Assembled Stators and Built-up Rotors duly balanced
  • Produce small laminations via High Speed Press for compressors.
  • Press tools
  • Progressive tools Jigs
  • Fixtures to customer requirements.  

Achievements/ recognition:

  • ISO 9002 certification by BVQI of U.K. in October 1993.
  • The company’s Quality Management Systems conforming to ISO 9002:1994 is certified by Bureau Veritas Quality International (BVQI). Recertified in 1996 and 1999 by BVQI.
  • The company is ISO 9001:2000 certified
  • Recipient of CITD (Council for Industrial and Trade Development) award for Quality and Achievement in the year of 1994 by Government of India.
  • Recipient of CITD Gold Udyog Patra award for Industrial Promotion in the year 1995 by Government of India.
  • Recipient of CITD (Council for Industrial and Trade development) award for Quality and Achievement in the year of 2000.
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