Pitti Engineering Ltd. share price target

We had visited Pitti’s Engineering’s Aurangabad plant on September 24, 2025,
as part of our periodic interaction with the management. The facility is spread across 26 acres, while the Company has an additional 12 acres of land available for future expansion (within 1 km vicinity).

We have revised our estimates for FY26E/FY27E EPS by - 20.1%/ -10.3%, as we factor in higher depreciation and interest expenses and, lower other income.

We maintain our BUY recommendation on the stock.

We maintain our BUY recommendation on the stock.

We maintain our BUY recommendation on the stock.

We maintain our BUY recommendation on the stock

We recommend a BUY on the stock with a near-term TP of Rs 1,425/Share, implying an upside of 10% from the CMP.

We maintain our BUY rating on the stock with an unchanged TP of Rs 1,572/share, implying an upside of 21% from the CMP. We value the stock at 28x its FY26 EPS.

We maintain our BUY recommendation on the stock.

We maintain our BUY rating on the stock with a revised TP at Rs 1,180/share, implying an upside of 37% from the CMP.

We maintain our BUY rating on the stock with a revised TP at Rs 1,180/share, implying an upside of 37% from the CMP.

We maintain our BUY recommendation on the stock.

We initiate coverage on Pitti Engineering Ltd. (PEL) with a BUY recommendation a Target Price of Rs 915/share, implying an upside of 40% from the current levels.

ICICI Securities Ltd | Retail Equity Research Pitti Engineering (Pitti) reported a robust Q2FY19 performance Total sales volume for the quarter was at 8100 tonne, up 78% YoY. Consequent net sales were at | 173 crore, up 106% YoY. Robust topline growth is a mix of volume, realisation growth (up 16% YoY) Export sales in Q2FY19 came in at a high of | 72 crore vs. | 23 crore in the base quarter i.e. Q2FY18 & | 46 crore in Q1FY19 EBITDA in Q2FY19 was at | 25.9 crore with corresponding EBITDA...

ICICI Securities Ltd | Retail Equity Research Pitti Laminations (Pitti) reported a steady Q3FY18 performance, with net sales for the quarter at | 77.3 crore, up 0.5% YoY. Recovery in sales was stalled this quarter (vs. H1FY18, up 41% YoY) due to loss of production days (30) on account of shifting of manufacturing base from Hyderabad, Pune to its new facility in Aurangabad, Maharashtra EBITDA in Q3FY18 was at | 11.2 crore with corresponding EBITDA margins at 14.5% and PAT at | 2.7 crore vs. | 1.9 crore in Q3FY17...

Company has a very well articulated plan for transition into the next phase of growth. There are a number of initiatives undergoing which will support the growth endeavors of the company. Company report a continued growth momentum supported by robust volume growth and better product mix. Increasing contribution from domestic business and significant improvement in export...