In This Article:
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H1 FY25 Consolidated Revenue: 850 crores, up by 37.1%.
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H1 FY25 EBITDA: 124 crores, increased by 59.83%.
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H1 FY25 PAT: 52.57 crores.
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H1 FY25 EPS: 16.04 on a stand-alone basis.
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H1 FY25 Gross Sales Volume (Lamination, Alex Assemblies): 24,952 tonnes.
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H1 FY25 Sales Volume (Casting and Machining): 3,600 tonnes.
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Q2 FY25 Consolidated Revenue: 455 crores, with a Y-o-Y growth of 44.39%.
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Q2 FY25 EBIT: 66 crores, with a Y-o-Y growth of 48.27%.
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Q2 FY25 PAT: 34.05 crores, with a Y-o-Y growth of 72.74%.
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Q2 FY25 EPS: 10.3% on a stand-alone basis.
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Q2 FY25 Revenue Growth: 28.44% to 404.97 crores.
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Q2 FY25 EBITDA: 59.49 crores, up by 33.51%.
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Q2 FY25 Sales Volume (Lamination, Alex Assemblies): 12,514 tonnes.
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Q2 FY25 Sales Volume (Casting and Machining): 1,900 tonnes.
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Consolidated Net Debt as of September 30: 330 crores INR.
Release Date: November 14, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Pitti Engineering Ltd (BOM:513519) reported a significant increase in consolidated revenue by 37.1% to 850 crores for H1 FY25.
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EBITDA rose by 59.83% to 124 crore rupees, indicating strong operational performance.
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The company completed strategic acquisitions and mergers, which are expected to drive future synergies and growth.
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The company is expanding its capacity, with new facilities expected to increase lamination capacity to 90,000 tons and casting capacity to 18,600 tons.
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Pitti Engineering Ltd (BOM:513519) is confident about further improvement in operating and financial performance as new capacities become operational.
Negative Points
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The company has a consolidated net debt of 330 crores INR as of the end of the reporting period.
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There is a slight slowdown in the industrial motor segment, particularly in low-voltage motors, due to intense competition and pricing pressures.
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The EBITDA margin is expected to moderate in the short term due to initial costs associated with new capacity and acquisitions.
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The company is facing challenges in the low-voltage motor market due to price competition and instability from Chinese markets.
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The integration of recent acquisitions and mergers may pose operational challenges in the short term.
Q & A Highlights
Q: Can you provide details on the current capacity expansion at the Northern Nevada facility and the overall consolidated capacity for the lamination part of the business? A: The consolidated capacity for lamination will be 90,000 tons once the Northern Nevada facility is fully operational. The Hyderabad lamination facilities will be decommissioned, and the capacity at the new facility will be 72,000 tons. The casting part of the business will have a consolidated capacity of 18,600 tons.