PEPitti Engineering513519Quarterly results

Q2FY27: total income up 16.3% to Rs. 580.5 Cr, adjusted PAT down 15.1%; Rs. 450 crore capex announced

Q2FY27 total income Rs. 580.5 Cr, up 16.3% YoY; adjusted EBITDA Rs. 91.3 Cr, up 13.6%; adjusted PAT Rs. 36.3 Cr, down 15.1%.

By ScoutQuest · Fri 23 Oct 2026, 9:39 AM IST · 2 min read

Q2FY27 Total Income

Rs. 580.5 Cr, up 16.3% YoY

Q2FY27 Adjusted PAT

Rs. 36.3 Cr, down 15.1%

Capex Announced

Rs. 450 crore capex to expand laminations capacity to 1,60,000 MTs by FY31

Q2FY27 scorecard

• Total income: Rs. 580.5 Cr, up 16.3% year-on-year
• Adj. EBITDA: Rs. 91.3 Cr, up 13.6%; margin 15.8%
• Adj. PAT: Rs. 36.3 Cr, down 15.1%; margin 6.3%

H1FY27 scorecard

• Total income: Rs. 1,110.5 Cr, up 15.3%
• Adj. EBITDA: Rs. 180.1 Cr, up 13.6%; margin 16.3%
• Adj. PAT: Rs. 68.2 Cr, down 0.4%; margin 6.2%

The company defines adj. EBITDA and adj. EBITDA margin as excluding other income and ESOP cost; adj. PAT is post adding back ESOP cost.

Capex and capacity

• The company announced a Rs. 450 crore capex to expand laminations capacity to 1,60,000 MTs and machining capacity to 13,14,000 hours, in a phased manner by FY31.
• Land acquisition is planned for a new greenfield unit in Bengaluru, with interim capacity to be added in phases at existing and leased premises.

Sales volumes (in MT)

• Total laminations: 20,612 in Q2FY27 versus 16,115 a year earlier, up 27.9%
• High value-added assemblies (laminations): 4,786 versus 3,168, up 51.1%
• Loose laminations and low value-added assemblies: 14,476 versus 11,801, up 22.7%
• Total castings and machined components: 3,086 versus 2,897, up 6.5%

Change in reporting basis

In September 2026, the company merged its two subsidiaries, Pitti Industries Private Limited and Dakshin Foundry Private Limited, with their parent entity, Pitti Engineering Limited. Financial results for Q2 and H1FY27 are therefore reported on a standalone basis, while previous period numbers are restated.

What management said

Managing Director and CEO Mr. Akshay S Pitti said total income grew 16.3% year-on-year to Rs. 581 crore, supported by strong volume growth in laminations and assemblies, reflecting demand across end-markets and the strength of customer relationships. He said the Rs. 450 crore greenfield facility in Bengaluru is backed by confidence in the long-term demand outlook. He cited order visibility and opportunities across railways, data centres, mining and industrial applications, and a phased approach to capacity expansion with a disciplined approach to capital allocation.

What a retail investor may want to track

• Income and operating profit (adj. EBITDA) both grew double digits year-on-year, while adjusted profit after tax was lower in Q2 compared with a year earlier.
• The capex is described as phased through FY31, so the capacity additions and the related spending are spread over several years.
• The shift to a standalone basis after the subsidiary merger affects comparison with earlier reported figures; the release states that previous period numbers are restated.
• Forward-looking statements in the release carry a safe harbour note about risks and uncertainties.

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