Q1 2027 Pitti Engineering Ltd Earnings Call Transcript
Key Points
- Revenue grew 16% YoY to INR529 crores, with adjusted EBITDA up 14% to INR89 crores.
- Lamination volumes rose 18% YoY to 19,200 tons, with higher-value assemblies growing faster than loose laminations.
- Capacity utilization improved across sheet metal (73%), machining (86%), and casting (72%).
- Strong demand visibility in data centers, railways, mining, and off-highway equipment, with new customer opportunities.
- Revised lamination volume guidance upward to 82,000 tons for FY27, reflecting confidence in growth.
- Adjusted EBITDA margin remained flat at 16.8% due to higher manpower costs from recent CapEx, with operating leverage yet to kick in.
- Direct exports were nearly flat YoY, with growth expected only in the second half of the fiscal year.
- Net debt remains elevated at INR491 crores, with ongoing INR290 crore CapEx and potential future investments.
- Finance costs were impacted by a ForEx loss of about INR2-3 crores due to currency volatility.
- State government incentive income is expected to be deferred to next year, reducing other income for FY27.
Ladies and Chairmen, we welcome you all to the Q1 FY27 Earnings Conference Call of Pitti Engineering Limited.
This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions and expectations of the company as on 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 lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.
(Operator Instructions)
Please note that this conference is being recorded.
I now have the conference over to Mr. Akshay S. Pitti, Managing Director and Chief Executive Officer.
Thank you, and over to you, sir.
Thank you. Good afternoon, everyone, and thank you for joining the Q1 FY27 earnings call of Pitti Engineering
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