Pitti Engineering Ltd. share price target

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...

ICICI Securities Ltd | Retail Equity Research Pitti Laminations (Pitti) reported a steady Q4FY17 performance, with sales at | 84.2 crore, up 9.5% YoY. EBITDA came in at | 7.4 crore with corresponding EBITDA margins at 8.8% and PAT at | 1.6 crore Drop in EBITDA margins sequentially (down 300 bps QoQ) came in as a negative surprise resulting in muted numbers at the PAT level For full year FY17, sales were at | 285.9 crore (down 8.2% YoY), EBITDA at | 32.8 crore (margins at 11.5%) and PAT at | 6.3 crore...

ICICI Securities Ltd | Retail Equity Research Pitti Laminations' (Pitti) performance in Q2FY17 was largely tracking the management guidance of muted Q2 and relatively good H2FY17 Net sales for the quarter declined 15% YoY to | 66.0 crore, largely tracking 39% decline in export sales. The EBITDA margin, however, came in higher at 11.8% due to a better metal realisations and costs rationalisation measures being undertaken at Pitti In Q2FY17, EBITDA was at | 7.9 crore while PAT was at | 1.5 crore...

Pitti Laminations (Pitti) reported a muted Q1FY17 performance. Net sales for the quarter declined 32% YoY largely on account of 55% decline in export sales. The EBITDA margin, however, came in higher at 14.6% due to a change in product mix (high stator volume in exports) and costs rationalisation measures .Topline in Q1FY17 was at | 58.1 crore. The corresponding EBITDA was at | 8.5 crore while PAT was at | 1.2 crore. ICICI Securities Limited have valued Pitti at | 36 i.e. 9x P/E on FY18E EPS of | 4.0/share and downgrade the stock to SELL.