Q3 2026 Pitti Engineering Ltd Earnings Call Transcript
Key Points
- Pitti Engineering Ltd (BOM:513519) reported a 15% year-on-year increase in total income for Q3 FY26, reaching INR484.3 crore.
- The company achieved a 21.1% year-on-year growth in total lamination volumes, indicating strong demand.
- Adjusted EBITDA for Q3 FY26 grew by 24.5%, with margins expanding to 17.5%, reflecting improved profitability.
- The data center segment showed significant momentum, with revenue contribution increasing from 2.7% to 3.7% quarter-on-quarter.
- Pitti Engineering Ltd (BOM:513519) has secured BIS-approved steel from mills in Korea and Japan, which is expected to reduce inventory levels and finance costs.
- Exports were down on a year-on-year basis for Q3 FY26, attributed to supply chain realignments.
- Finance costs increased due to elevated inventory levels, impacting overall financial performance.
- The company faces competitive pressures in the export market, particularly from countries like China and Vietnam.
- Gross margins decreased year-on-year despite an increase in high-value product sales, due to higher raw material costs.
- The company is still in the process of liquidating excess inventory, which may affect short-term financial metrics.
Ladies and gentlemen, good day and welcome to the Pitti Engineering Ltd Q3 and 9-month FY26 earnings conference call. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company. On the date of this call, these statements do not guarantee the future performance of the company, and it may involve risks and uncertainties that are difficult to predict. As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Akshay S. Pitti, Managing Director and Chief Executive Officer.
Thank you and over to you, sir.
Good afternoon everyone, and thank you for joining us for
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