Business
Engineering
Finance
Automotive
Automotive industry
Company Earnings
Railway Industry
Machine Components Industry
Pitti Engineering Ltd conducted Q1 FY23 con call on 16 August 2022.
Here are the key highlights of the call πππ
Here are the key highlights of the call πππ
β’Overview
-Highest sales growth in terms of quantity and revenue
-Company is bullish on automotive side which was started in current quarter
-Company expects Q2 to be flattish but Q3 id expected to be better
-Railway and related business could contribute high revenue
-Highest sales growth in terms of quantity and revenue
-Company is bullish on automotive side which was started in current quarter
-Company expects Q2 to be flattish but Q3 id expected to be better
-Railway and related business could contribute high revenue
-Machine components business could grow exponentially in coming year due to better adoption and assembled product at client level
-In automotive side products are under approval stage and got initial approval in Q4, so commercial supplies would start from Q3
-In automotive side products are under approval stage and got initial approval in Q4, so commercial supplies would start from Q3
β’Financials
-Revenue grew by 76.90% YoY
-During quarter annualized capacity of 4200 metric ton for sheet metal was added
-Capacity utilisation for sheet metal was 73.62% while machining capacity utilisation was 79.1%
-Inventory days may improve from 78days to 70 days
-Revenue grew by 76.90% YoY
-During quarter annualized capacity of 4200 metric ton for sheet metal was added
-Capacity utilisation for sheet metal was 73.62% while machining capacity utilisation was 79.1%
-Inventory days may improve from 78days to 70 days
-Short-term order book is 700cr. which is executable within current fiscal year
-Raw material prices are pass through so no impact to margins
-Company is targeting 350-375cr. of peak debt
-With capacity coming in, sales will go up in quantitative terms
-Raw material prices are pass through so no impact to margins
-Company is targeting 350-375cr. of peak debt
-With capacity coming in, sales will go up in quantitative terms
β’Cap ex
-Current quarter 30cr. of cap ex was done
-Over next 3 quarter company expects to finish balance budget total to 270cr.
-Company may take up modernization program for Hyderabad system after completing 270cr. cap ex
-Current quarter 30cr. of cap ex was done
-Over next 3 quarter company expects to finish balance budget total to 270cr.
-Company may take up modernization program for Hyderabad system after completing 270cr. cap ex
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