Pitti Engineering Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹937.38Overvalued by 19.68%vs CMP ₹1,167.00

P/E (43.6) × ROE (10.6%) × BV (₹253.00) × DY (0.21%)

₹550.62Overvalued by 52.82%vs CMP ₹1,167.00

MoS: -111.9% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹1,044.79	25%	Over (-10.5%)
Graham Number	Earnings	₹398.17	18%	Over (-65.9%)
DCF	Cash Flow	₹277.42	15%	Over (-76.2%)
Net Asset Value	Assets	₹252.78	8%	Over (-78.3%)
EV/EBITDA	Enterprise	₹476.62	10%	Over (-59.2%)
Earnings Yield	Earnings	₹278.50	8%	Over (-76.1%)
ROCE Capital	Returns	₹738.29	10%	Over (-36.7%)
Revenue Multiple	Revenue	₹202.47	6%	Over (-82.7%)
Consensus (8 models)		₹550.62	100%	Overvalued

Key Drivers: Wide model spread (₹202–₹1,045) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.5%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 3:16 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹1,525.00 Cr, versus ₹1,244.00 Cr in Mar 2024 (22.6% year on year). Net profit for Mar 2025 was ₹107.00 Cr, versus ₹90.00 Cr in Mar 2024 (18.9% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹261.00 Cr against net profit of ₹107.00 Cr. Cash flow covered 2.44 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹805.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Pitti Engineering Ltd scores 64/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health68/100 · Strong

ROCE 13.4% GoodROE 10.6% AverageD/E 0.64 ModerateInterest Coverage 4.6x AdequateProfitable 5/5 available years Reported history

Smart Money60/100 · Moderate

FII holding up 0.67% (6mo) Slight increasePromoter holding at 54.2% Stable

Earnings Quality85/100 · Strong

CFO/NP ratio: 2.20x Cash-backed earningsOPM stable around 16% SteadyWorking capital: 2 days (improving) Efficient

Quarterly Momentum50/100 · Moderate

Revenue (4Q): +13% YoY GrowingProfit (4Q): -14% YoY Declining

Industry Rank40/100 · Moderate

P/E 43.6 vs industry 42.2 In-lineROCE 13.4% vs industry 15.8% AverageROE 10.6% vs industry 24.8% Below peers3Y sales CAGR: 17% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 3:16 am

Market Cap	4,395 Cr.
Current Price	1,167
Intrinsic Value	₹550.66
High / Low	1,228/675
Stock P/E	43.6
Book Value	253
Dividend Yield	0.21 %
ROCE	13.4 %
ROE	10.6 %
Face Value	5.00
PEG Ratio	3.80

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Pitti Engineering Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Pitti Engineering Ltd	4,395 Cr.	1,167	1,228/675	43.6	253	0.21 %	13.4 %	10.6 %	5.00
Sterling & Wilson Renewable Energy Ltd	4,221 Cr.	181	261/148	13.5	27.8	0.00 %	26.8 %	40.1 %	1.00
Jash Engineering Ltd	3,717 Cr.	589	603/321	43.2	82.1	0.27 %	17.7 %	16.0 %	2.00
Bondada Engineering Ltd	3,147 Cr.	282	503/215	14.4	62.2	0.10 %	39.4 %	35.7 %	2.00
Balu Forge Industries Ltd	6,145 Cr.	506	678/341	22.9	131	0.03 %	22.7 %	19.6 %	10.0
Industry Average	4,401.31 Cr	603.74		42.21	130.07	0.34%	15.80%	24.80%	6.04

All Competitor Stocks of Pitti Engineering Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	238	248	290	303	302	336	360	379	364	422	382	396	422
Expenses	199	207	247	258	250	284	304	320	303	351	315	327	351
Operating Profit	39	41	42	45	51	52	56	59	61	71	67	69	70
OPM %	16%	16%	15%	15%	17%	15%	16%	16%	17%	17%	18%	17%	17%
Other Income	1	16	1	13	3	32	4	26	6	3	7	22	6
Interest	12	10	12	11	14	14	17	19	13	19	20	19	21
Depreciation	11	13	13	13	16	16	16	19	20	21	24	24	25
Profit before tax	17	34	19	33	25	54	26	47	33	34	29	48	31
Tax %	28%	26%	25%	32%	38%	14%	30%	28%	27%	11%	40%	25%	29%
Net Profit	12	25	14	22	16	46	19	34	24	30	18	36	22
EPS in Rs	3.78	7.75	4.36	6.87	4.90	14.35	5.78	9.60	6.45	7.96	4.67	9.45	5.77

Last Updated: March 3, 2026, 3:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 9:16 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	245	335	308	283	379	622	525	518	954	1,100	1,244	1,525	1,622
Expenses	212	295	289	250	323	530	447	439	821	948	1,062	1,276	1,344
Operating Profit	33	41	19	34	55	92	78	80	133	152	183	248	278
OPM %	13%	12%	6%	12%	15%	15%	15%	15%	14%	14%	15%	16%	17%
Other Income	2	2	2	3	2	1	4	19	16	17	47	37	38
Interest	19	11	17	15	23	30	34	30	40	45	51	68	80
Depreciation	9	16	15	16	18	22	27	30	39	45	59	77	95
Profit before tax	7	15	-11	5	16	40	20	39	71	80	119	140	141
Tax %	38%	38%	-16%	16%	31%	41%	14%	25%	26%	26%	25%	24%
Net Profit	4	9	-10	4	11	24	17	29	52	59	90	107	105
EPS in Rs	1.56	3.46	-3.54	1.60	3.78	7.95	5.34	8.98	16.19	18.36	27.99	28.37	27.85
Dividend Payout %	32%	29%	0%	0%	0%	0%	0%	0%	13%	15%	5%	5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	125.00%	-211.11%	140.00%	175.00%	118.18%	-29.17%	70.59%	79.31%	13.46%	52.54%	18.89%
Change in YoY Net Profit Growth (%)	0.00%	-336.11%	351.11%	35.00%	-56.82%	-147.35%	99.75%	8.72%	-65.85%	39.08%	-33.65%

Pitti Engineering Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	16%
5 Years:	24%
3 Years:	17%
TTM:	19%

Compounded Profit Growth
10 Years:	28%
5 Years:	44%
3 Years:	27%
TTM:	4%

Stock Price CAGR
10 Years:	32%
5 Years:	93%
3 Years:	42%
1 Year:	-31%

Return on Equity
10 Years:	15%
5 Years:	19%
3 Years:	19%
Last Year:	16%

Last Updated: September 5, 2025, 12:20 pm

Balance Sheet

Last Updated: July 13, 2026, 3:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	14	14	14	15	15	16	16	16	16	16	19	19
Reserves	104	93	99	140	161	192	220	268	318	457	865	933
Borrowings	143	174	181	256	247	245	317	393	356	628	687	805
Other Liabilities	107	81	117	139	161	143	148	280	287	290	383	300
Total Liabilities	368	362	410	549	584	596	701	956	978	1,391	1,954	2,056
Fixed Assets	87	76	94	201	227	247	285	327	364	465	793	898
CWIP	10	12	31	9	5	8	1	1	24	122	61	42
Investments	16	16	17	17	16	16	16	16	15	0	258	258
Other Assets	255	258	268	321	336	324	399	613	574	804	843	858
Total Assets	368	362	410	549	584	596	701	956	978	1,391	1,954	2,056

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	45	-7	73	28	71	69	34	88	222	80	261	149
Cash from Investing Activity +	-20	-7	-56	-113	-46	-46	-66	-93	-104	-247	-558	-154
Cash from Financing Activity +	-20	14	-20	86	-26	-21	28	12	-86	203	286	12
Net Cash Flow	6	-0	-4	1	-2	3	-4	7	32	37	-10	7
Free Cash Flow	25	-16	15	-86	22	46	-30	10	118	-129	-77	-20
CFO/OP	118%	-14%	219%	53%	82%	101%	50%	80%	170%	50%	120%	63%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	25.00	-16.00	15.00	-86.00	22.00	46.00	-30.00	10.00	118.00	-129.00	-77.00	-20.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	96	112	133	116	132	107	97	121	78	60	63	55
Inventory Days	231	173	211	262	191	85	134	171	147	112	136	126
Days Payable	136	139	120	219	160	88	102	115	119	117	113	128
Cash Conversion Cycle	192	146	224	159	163	104	128	178	106	55	86	53
Working Capital Days	50	22	16	1	10	10	10	24	23	9	16	2
ROCE %	11%	11%	2%	7%	12%	17%	12%	14%	18%	18%	19%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	59.29%	59.29%	59.29%	59.29%	53.58%	54.17%	54.17%	54.17%	54.17%	54.17%	54.17%	54.17%
FIIs	0.13%	0.22%	0.50%	0.79%	1.29%	1.31%	0.90%	0.79%	0.87%	0.93%	1.12%	1.54%
DIIs	5.51%	6.56%	5.88%	5.87%	17.53%	18.36%	18.80%	19.15%	20.53%	20.23%	20.23%	20.10%
Public	35.07%	33.94%	34.33%	34.04%	27.61%	26.15%	25.27%	24.85%	22.78%	22.71%	22.52%	22.20%
Others	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.85%	1.03%	1.65%	1.97%	1.97%	1.97%
No. of Shareholders	34,506	41,372	43,750	45,703	50,993	54,531	53,368	54,800	39,520	37,953	37,405	37,224

Shareholding Pattern Chart

No. of Shareholders

Pitti Engineering Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI ELSS Tax Saver Fund	1,100,000	0.27	86.44	N/A	N/A	N/A
SBI Infrastructure Fund	800,000	1.38	62.87	N/A	N/A	N/A
Aditya Birla Sun Life Value Fund	609,600	0.77	47.91	N/A	N/A	N/A
HSBC Flexi Cap Fund	457,903	0.68	35.98	449,170	2026-01-25 09:09:54	1.94%
Aditya Birla Sun Life Small Cap Fund	388,383	0.64	30.52	389,151	2026-02-23 00:00:10	-0.2%
UTI Small Cap Fund	365,333	0.63	28.71	N/A	N/A	N/A
Aditya Birla Sun Life Transportation and Logistics Fund	330,970	1.74	26.01	N/A	N/A	N/A
SBI Retirement Benefit Fund - Aggressive Plan	250,889	0.64	19.72	N/A	N/A	N/A
Franklin India Small Cap Fund	237,080	0.15	18.63	N/A	N/A	N/A
Aditya Birla Sun Life Infrastructure Fund	177,933	1.3	13.98	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	33.32	28.14	18.36	16.18	8.97
Diluted EPS (Rs.)	33.32	28.14	18.36	16.18	8.97
Cash EPS (Rs.)	53.85	44.98	32.28	28.30	18.45
Book Value[Excl.RevalReserv]/Share (Rs.)	238.61	129.83	104.20	88.56	73.55
Book Value[Incl.RevalReserv]/Share (Rs.)	238.61	129.83	104.20	88.56	73.55
Revenue From Operations / Share (Rs.)	452.60	374.81	343.18	297.53	161.63
PBDIT / Share (Rs.)	82.29	70.47	52.78	46.49	30.74
PBIT / Share (Rs.)	60.91	53.62	38.85	34.37	21.26
PBT / Share (Rs.)	42.91	38.03	24.92	22.01	12.02
Net Profit / Share (Rs.)	32.47	28.13	18.35	16.18	8.97
NP After MI And SOA / Share (Rs.)	32.47	28.13	18.35	16.18	8.97
PBDIT Margin (%)	18.18	18.80	15.38	15.62	19.01
PBIT Margin (%)	13.45	14.30	11.32	11.55	13.15
PBT Margin (%)	9.48	10.14	7.26	7.39	7.43
Net Profit Margin (%)	7.17	7.50	5.34	5.43	5.54
NP After MI And SOA Margin (%)	7.17	7.50	5.34	5.43	5.54
Return on Networth / Equity (%)	13.60	21.66	17.61	18.26	12.19
Return on Capital Employeed (%)	17.56	22.53	23.65	23.74	18.99
Return On Assets (%)	6.10	6.78	6.01	5.42	4.10
Long Term Debt / Equity (X)	0.31	0.63	0.36	0.38	0.43
Total Debt / Equity (X)	0.64	1.29	0.86	1.14	1.27
Asset Turnover Ratio (%)	1.02	1.04	1.14	1.15	0.00
Current Ratio (X)	1.22	1.25	1.20	1.19	1.13
Quick Ratio (X)	0.75	0.76	0.67	0.64	0.66
Inventory Turnover Ratio (X)	5.69	3.14	3.05	3.23	0.00
Dividend Payout Ratio (NP) (%)	4.35	4.26	12.80	7.26	0.00
Dividend Payout Ratio (CP) (%)	2.62	2.66	7.27	4.15	0.00
Earning Retention Ratio (%)	95.65	95.74	87.20	92.74	0.00
Cash Earning Retention Ratio (%)	97.38	97.34	92.73	95.85	0.00
Interest Coverage Ratio (X)	4.57	4.52	3.79	3.76	3.33
Interest Coverage Ratio (Post Tax) (X)	2.80	2.80	2.32	2.31	1.97
Enterprise Value (Cr.)	4375.37	2875.86	1090.64	1324.39	504.03
EV / Net Operating Revenue (X)	2.57	2.39	0.99	1.39	0.97
EV / EBITDA (X)	14.12	12.73	6.45	8.89	5.12
MarketCap / Net Operating Revenue (X)	2.31	2.04	0.78	1.09	0.41
Retention Ratios (%)	95.64	95.73	87.19	92.73	0.00
Price / BV (X)	4.38	5.88	2.59	3.65	0.90
Price / Net Operating Revenue (X)	2.31	2.04	0.78	1.09	0.41
EarningsYield	0.03	0.03	0.06	0.05	0.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Pitti Engineering Ltd and is it undervalued?

Pitti Engineering Ltd: the stored intrinsic value estimate is ₹550.62, compared with a stored share price of ₹1,167.00. The model value is 52.8% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Pitti Engineering Ltd?

The stored share price is ₹1,167.00. Price-data record updated: 24 September 2026, 3:16 am +05:30. This is not a live quote. The stored 52-week high / low is 1,228/675; this is a rolling range, not a financial-year range.

How have Pitti Engineering Ltd's revenue and profit changed?

Does Pitti Engineering Ltd's profit convert into cash?

What should I check in Pitti Engineering Ltd's balance sheet?

Reported borrowings were ₹805.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Pitti Engineering Ltd's P/E with other stocks?

The stored P/E is 43.60. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Pitti Engineering Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.