Pitti Engineering posts 16.32% margin, above 92-peer median
Interest and depreciation reduced operating profit before tax, while management reported higher castings capacity and 72% utilisation in Q1FY27.
Filed 10 Aug 2026, 18:59 IST · after market close · Pitti Engineering Ltd (PITTIENG)
Key takeaways
- Consolidated Q1FY27 earnings included Rs 29.50 cr of net profit after Rs 22.63 cr of interest and Rs 28.38 cr of depreciation.
- Operating margin at 16.32% was 1.82 percentage points above the 14.50% median for 92 Industrials peers.
- Management said castings capacity had risen to 24,600 MT by 10 August 2026, while Q1FY27 castings utilisation was 72%.
Price around the results
Q1FY27 profit after financing and depreciation
Pitti Engineering reported consolidated revenue of Rs 529.09 cr and operating profit of Rs 86.37 cr in Q1FY27. Interest of Rs 22.63 cr and depreciation of Rs 28.38 cr reduced operating profit before profit before tax reached Rs 36.22 cr. Other income was only Rs 0.85 cr, so reported earnings were primarily linked to operations rather than non-operating income.
Operating margin stays above the Industrials peer median
The 16.32% operating margin was 1.82 percentage points above the 14.50% median for 92 Industrials companies that had reported the same quarter. This places Pitti Engineering above the sector midpoint on operating profitability, even as interest and depreciation remain important deductions below the operating line.
Castings expansion and current plant utilisation
Management said castings capacity had increased from 18,600 MT to 24,600 MT as of 10 August 2026. It reported Q1FY27 utilisation of 73% in sheet metals, 86% in machining and 72% in castings. Management also said India's 500 GW renewable target by 2030 is expected to drive demand for rotating equipment.
Results were filed after market close
The consolidated results were filed at 18:59 IST on 10 August 2026, after the market close. There is therefore no immediate stock reaction to assess in this note.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹529 cr |
| Other income | ₹1 cr |
| Expenses | ₹443 cr |
| Operating profit | ₹86 cr |
| Operating margin (%) | 16.32% |
| Interest | ₹23 cr |
| Depreciation | ₹28 cr |
| Profit before tax | ₹36 cr |
| Tax | ₹7 cr |
| Net profit | ₹30 cr |
| EPS (₹) | ₹7.99 |
Operating margin of 16.32% compares with a Industrials sector median of 14.50% across 92 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Q1FY27 capacity utilization was 73% for sheet metals, 86% for machining and 72% for castings.
Guidance & outlook
- India's 500 GW renewable target by 2030 is expected to drive strong demand for rotating equipment.
Expansion
- Castings capacity increased from 18,600 MT to 24,600 MT as of 10 August 2026.
What to watch
- Whether operating margin holds above 16.32%.
- Whether castings utilisation moves from 72% as capacity stands at 24,600 MT.
- Whether interest remains at or below Rs 22.63 cr as profit before tax is tracked.