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Pitti Engineering Ltd.
(PITTIENG)
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Rating:63Neutral
Price Target:
₹1,252.00
▲(36.41% Upside)
Action:Reiterated
Date:09/08/26
The score is held back primarily by weak cash flow quality (negative free cash flow and low cash conversion) and some margin compression despite strong revenue growth. Offsetting this, the technical picture is strong with price above major moving averages and positive momentum. Valuation is a secondary drag due to a higher P/E and minimal dividend yield.
Positive Factors
Strong Revenue Growth
The sharp FY2026 revenue increase and substantial multi-year expansion indicate strong demand from the company’s OEM markets and growing operating scale. Continued top-line growth can support better capacity utilization, customer penetration, and reinvestment in higher-value engineering and assembly capabilities.
Negative Factors
Negative Free Cash Flow
Sustained negative free cash flow means reported earnings are not currently translating into surplus cash after investment and working-capital needs. This can constrain internally funded growth, increase dependence on borrowing, and reduce flexibility if operating conditions weaken over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The sharp FY2026 revenue increase and substantial multi-year expansion indicate strong demand from the company’s OEM markets and growing operating scale. Continued top-line growth can support better capacity utilization, customer penetration, and reinvestment in higher-value engineering and assembly capabilities.
Read all positive factors
Pitti Engineering Ltd. (PITTIENG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹43.94B
Dividend Yield0.21%
Average Volume (3M)10.87K
Price to Earnings (P/E)34.7
Beta (1Y)1.18
Revenue Growth12.19%
EPS Growth-1.62%
CountryIN
Employees4,359
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)33.57
Shares Outstanding37,653,587
10 Day Avg. Volume11,860
30 Day Avg. Volume10,870
Financial Highlights & Ratios
PEG Ratio-4.66
Price to Book (P/B)2.59
Price to Sales (P/S)1.33
P/FCF Ratio-39.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)37.55
Revenue Forecast (FY)₹22.89B
Pitti Engineering Ltd. Business Overview & Revenue Model
Company Description
Pitti Engineering Limited manufactures and sells iron and steel engineering products in India and internationally. The company manufactures electrical steel laminations, stator and motor cores, sub-assemblies for motor and generator cores, pole as...
How the Company Makes Money
Pitti Engineering makes money primarily by manufacturing and selling electrical steel laminations and assembled motor/generator cores to OEM customers. Its revenue model is largely business-to-business: customers place orders (often to their drawi...
Pitti Engineering Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.85B | 19.13B | 17.05B | 12.02B | 11.00B | 9.50B |
| Gross Profit | 5.05B | 4.82B | 6.88B | 3.88B | 3.18B | 2.54B |
| EBITDA | 3.59B | 3.16B | 3.10B | 2.16B | 1.67B | 1.40B |
| Net Income | 1.24B | 1.18B | 1.22B | 901.91M | 588.35M | 518.70M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 21.38B | 20.04B | 13.30B | 9.78B | 9.57B |
| Cash, Cash Equivalents and Short-Term Investments | 1.47B | 1.47B | 1.40B | 1.09B | 397.13M | 350.50M |
| Total Debt | 0.00 | 8.11B | 6.90B | 6.28B | 3.56B | 3.93B |
| Total Liabilities | -9.87B | 11.51B | 11.05B | 9.14B | 6.44B | 6.73B |
| Stockholders Equity | 9.87B | 9.87B | 8.99B | 4.16B | 3.34B | 2.84B |
Cash Flow | ||||||
| Free Cash Flow | 137.97M | -650.11M | -376.22M | -1.65B | 1.15B | -60.67M |
| Operating Cash Flow | 953.91M | 1.27B | 2.89B | 735.84M | 2.22B | 879.11M |
| Investing Cash Flow | -938.43M | -1.79B | -5.36B | -2.36B | -1.04B | -927.84M |
| Financing Cash Flow | 14.64M | 727.47M | 2.69B | 1.98B | -865.67M | 122.13M |
Pitti Engineering Ltd. Technical Analysis
Positive
917.85
Price Trends
1012.80
Positive
982.95
Positive
901.41
Positive
Market Momentum
43.65
Negative
68.29
Neutral
64.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PITTIENG, the sentiment is Positive. The current price of 917.85 is below the 20-day moving average (MA) of 1106.17, below the 50-day MA of 1012.80, and above the 200-day MA of 901.41, indicating a bullish trend. The MACD of 43.65 indicates Negative momentum. The RSI at 68.29 is Neutral, neither overbought nor oversold. The STOCH value of 64.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PITTIENG.
Pitti Engineering Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ₹45.00B | 4.17 | ― | ― | 1.82% | -12.22% | |
68 Neutral | ₹257.74B | 73.50 | ― | 0.08% | 23.49% | 52.08% | |
63 Neutral | ₹43.94B | 34.67 | ― | 0.21% | 12.19% | -1.62% | |
60 Neutral | ₹11.98B | 32.58 | ― | 0.68% | 13.71% | 0.15% | |
57 Neutral | ₹30.52B | 27.12 | ― | 0.89% | 9.58% | 2.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ₹28.54B | 11.39 | ― | 0.34% | -3.88% | ― |
* General Sector Average
IN:PITTIENG
Pitti Engineering Ltd.
1,166.90
212.19
22.23%
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IN:SUNCLAY
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Pitti Engineering Ltd. Corporate Events
Pitti Engineering Publishes AGM and E-Voting Details for Shareholders
Aug 20, 2026
Pitti Engineering Ltd., a publicly listed engineering and manufacturing company trading on BSE and NSE under the PITTIENG scrip, maintains formal communication channels with investors through statutory filings and newspaper notices. Its practices ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.