Pitti Engineering Limited has announced its financial results for the second quarter, showcasing robust growth and operational performance.

Key Financial Highlights

• Revenue: Achieved highest quarterly revenue of INR 499.00 crores, marking a 10% year-on-year growth.
• EBITDA: Grew by 17.5% year-on-year to INR 78.00 crores.
• EBITDA Margin: Remained stable at 16.3%, reflecting strong operating leverage.

Operational Performance

The company reported significant volume growth across various product categories:

Future Outlook

Pitti Engineering expects capacity utilization to reach 80% by the end of FY27. The company targets lamination sales of 90,000-94,000 tons over the next three years. Strong demand is anticipated in traction motors, railways, data centers, and renewable energy sectors.

Management Commentary

Akshay Pitti, Managing Director and CEO, stated, "We are pleased to report another strong quarter of performance. Our deeper customer engagement has enabled us to enhance our wallet share in key areas. The surge in global data center requirements has significantly boosted the need for power generation solutions, presenting a major growth opportunity for our business."

Market Diversification

The company is actively engaging with customers both in India and overseas to realign capacities and capabilities with anticipated rising demand. Pitti Engineering remains optimistic about domestic growth prospects across traction motor, power generation, and wind power segments.

Challenges and Strategies

• The company is addressing raw material supply challenges by diversifying its sourcing strategy, including imports from Korea and Japan.
• Pitti Engineering plans to maintain about 25% of its total requirements from imports until the situation in Indian steel manufacturing stabilizes.

Conclusion

Pitti Engineering's strong quarterly performance, coupled with its strategic initiatives and positive outlook in key sectors, positions the company for sustained growth. The management's focus on capacity expansion and market diversification is expected to drive future performance, despite challenges in the raw material supply chain.

Investors and stakeholders will be keenly watching the company's progress in achieving its targeted growth and navigating the evolving market dynamics in the engineering and manufacturing sector.

Pitti Engineering Limited , a leading manufacturer of electrical steel laminations and machined components, has reported robust financial results for the second quarter and first half of fiscal year 2026, while also announcing ambitious expansion plans.

Q2 and H1 FY26 Financial Highlights

The company achieved its highest-ever quarterly total income of ₹499 crore in Q2 FY26, marking a 9.6% year-on-year growth. For the half-year ended September 30, 2025, Pitti Engineering recorded a total income of ₹963 crore, representing a 13.3% increase compared to the same period last year.

Key financial metrics for Q2 FY26:

Half-year performance (H1 FY26):

Operational Performance

Pitti Engineering reported strong capacity utilization across its operations:

• Machining Hours utilization stood at 90% for Q2FY26 and 87% for H1FY26
• Sheet metals utilization was at 76% for Q2FY26 and 74% for H1FY26
• Castings utilization reached 77% for Q2FY26 and 73% for H1FY26

The company also registered healthy growth across key product categories:

• Stator frames (core drop) rose by 117.4% in Q2 and 88.3% in H1FY26 year-on-year
• Child parts (machined components) increased by 34.5% in Q2 and 35.1% in H1FY26
• Stator frame/rotor shaft integrated assemblies (laminations) grew by 33.4% in Q2 and 26.2% in H1FY26

Expansion Plans and Future Outlook

Pitti Engineering has announced plans to invest ₹500 crore in a new facility in Hyderabad. This expansion aims to enhance the company's capabilities in precision castings and machining operations. The investment is expected to drive the company's growth strategy, with a target of sustaining revenue growth of over 20% through:

1. Expansion of machined component exports
2. Increased focus on renewable energy projects
3. Higher share of high-margin engineered components
4. Diversification into wind, rail, and defense sectors

Akshay S Pitti, Managing Director & CEO of Pitti Engineering, commented on the results: "Our performance in Q2 FY26 remained resilient, with total income of ₹499 crore reflecting a 10% year-on-year growth and EBITDA improving by 18% to ₹78 crore. These results demonstrate consistent performance amidst a challenging business environment, supported by operational discipline and prudent financial management."

He further added, "Over the years, Pitti Engineering has evolved into a more integrated and value-driven player across the manufacturing value chain, deepening our relationships with marquee customers and expanding our presence across industries. With sustained demand, a diversified industry base, and our upcoming ₹150 crore capacity expansion plan, we are well positioned to capture emerging opportunities, enhance margins, and continue delivering sustainable growth in the years ahead."

The company's focus on high-value products and strategic expansion into growing sectors positions it well for future growth. As Pitti Engineering continues to invest in its capabilities and diversify its product offerings, it aims to capitalize on the increasing demand for engineered components in various industries, including renewable energy, railways, and defense.