Integrated Filing — IndAS

General information about company
Scrip Code	513519
NSE Symbol	PITTIENG
MSEI Symbol	NOTLISTED
ISIN	INE450D01021
Name of company	PITTI ENGINEERING LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	21-Apr-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	11-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Geographical
Description of single segment
Start date and time of board meeting	21-Apr-2025   14:30:00
End date and time of board meeting	21-Apr-2025   15:55:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	4687771000	17045671000
	Other income	35232000	387930000
	Total income	4723003000	17433601000
2	Expenses
(a)	Cost of materials consumed	2729637000	10529587000
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	83400000	-364354000
(d)	Employee benefit expense	537630000	1967090000
(e)	Finance costs	189397000	677903000
(f)	Depreciation, depletion and amortisation expense	224659000	805166000
(f)	Other Expenses
1	Other Expenses	536407000	2202192000
	Total other expenses	536407000	2202192000
	Total expenses	4301130000	15817584000
3	Total profit before exceptional items and tax	421873000	1616017000
4	Exceptional items	0	0
5	Total profit before tax	421873000	1616017000
6	Tax expense
7	Current tax	98597000	374519000
8	Deferred tax	-38095000	18635000
9	Total tax expenses	60502000	393154000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	361371000	1222863000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	361371000	1222863000
17	Other comprehensive income net of taxes	846000	-6084000
18	Total Comprehensive Income for the period	362217000	1216779000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	0	0
	Total profit or loss, attributable to non-controlling interests	0	0
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
21	Details of equity share capital
	Paid-up equity share capital	188310000	188310000
	Face value of equity share capital	5	5
27	Details of debt securities
22	Reserves excluding revaluation reserve		8798240000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	9.61	33.32
	Diluted earnings (loss) per share from continuing operations	9.61	33.32
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	9.61	33.32
	Diluted earnings (loss) per share from continuing and discontinued operations	9.61	33.32
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		The above financial results for the quarter and Year ended 31st March 2025 has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 21st April 2025. nThe financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act 2013 and other generally accepted accounting principles in India and in terms of Regulations issued by the Securities and Exchange Board of India (SEBI). nThe consolidated financial results include results of the following: nHolding Company – Pitti Engineering Limited nWholly Owned Subsidiaries nPitti Industries Private Limited (Formerly Bagadia Chaitra Industries Private Limited) w.e.f. 6th May 2024 nWholly Owned Subsidiary -Dakshin Foundry Private Limited w.e.f. 25th July 2024 nThe figures of the fourth quarter are the balancing figures between the audited year-end figures and the published results upto the third quarter of the respective financial years. nThe Board of Directors have recommended a final dividend of Rs.1.50(30%) per equity share of Rs. 5/- each for the year ended 31st March 2025 subject to approval of members of the Company at the ensuing 41st Annual General Meeting. nThe Board of Directors approved the Scheme of Amalgamation on June 15 2023 between Pitti Castings Private Limited (PCPL) Pitti Rail and Engineering Components Limited (PRECL) and Pitti Engineering Limited (PEL). The National Company Law Tribunal Hyderabad approved the Scheme on October 3 2024 it became operative after filing with the Registrar of Companies on October 24 2024 and it is effective from April 1 2023. As per the Scheme eligible shareholders of PCPL were allotted 2188772 equity shares of PEL on November 13 2024 based on the agreed share exchange ratio. The financial results for respective applicable periods have been restated according to the accounting treatment prescribed in the Scheme in compliance with IndAS 103 and other applicable provisions. nThe Nomination and Remuneration Committee of Pitti Engineering Limited at its meeting held on 13th March 2025 approved the first grant of 787500 employee stock options to eligible employees of the Company and its subsidiaries. This grant is made under the shareholder-approved limit of 1300000 options as part of the ‘Pitti ESOP Scheme 2024’ at an exercise price of Rs.736.72 per option. Furthermore during the quarter ended 31st March 2025 the Pitti Engineering Limited Employee Welfare Trust (ESOP Trust) purchased 388382 equity shares of the Company from the open market. The Company considers the ESOP Trust as its extension and accordingly the shares held by the Trust are treated as treasury shares in accordance with IND AS 32. For the accounting of employee stock options granted the Company and its subsidiaries have adhered to the requirements of IND AS 102. The adjustment to the earnings per share due to the grant of options is anti-dilutive; hence the basic and diluted earnings per share remain the same. nThe Company has only one business segment which is manufacturing of engineering products of Iron and Steel hence the reporting is done as a single segment. For geographical segment revenue and assets please refer to point no.8 of the results submitted to the stock exchanges. nFigures for the previous quarter or year have been regrouped and reclassified wherever necessary to correspond with current year’s presentation. n

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	8830409000
	Capital work-in-progress	630562000
	Investment property	0
	Goodwill	1360905000
	Other intangible assets	78566000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	3000
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	173090000
	Total non-current financial assets	173093000
	Deferred tax assets (net)	0
	Other non-current assets	417996000
	Total non-current assets	11491531000
2	Current assets
	Inventories	3291083000
	Current financial asset
	Current investments	116000
	Trade receivables, current	2562325000
	Cash and cash equivalents	986534000
	Bank balance other than cash and cash equivalents	418013000
	Loans, current	0
	Other current financial assets	17967000
	Total current financial assets	3984955000
	Current tax assets (net)	0
	Other current assets	1272889000
	Total current assets	8548927000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	20040458000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	188310000
	Other equity	8798240000
	Total equity attributable to owners of parent	8986550000
	Non controlling interest	0
	Total equity	8986550000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	2812715000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	846761000
	Total non-current financial liabilities	3659476000
	Provisions, non-current	262782000
	Deferred tax liabilities (net)	149885000
	Deferred government grants, Non-current	0
	Other non-current liabilities	36000
	Total non-current liabilities	4072179000
	Current liabilities
	Current financial liabilities
	Borrowings, current	2971753000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	59801000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	3249821000
	Total Trade payable	3309622000
	Other current financial liabilities	491385000
	Total current financial liabilities	6772760000
	Other current liabilities	115580000
	Provisions, current	82361000
	Current tax liabilities (Net)	11028000
	Deferred government grants, Current	0
	Total current liabilities	6981729000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	11053908000
	Total equity and liabilites	20040458000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	a) India	3118732000	12041727000
2	b) Outside India	1569039000	5003944000
	Total Segment Revenue	4687771000	17045671000
	Less: Inter segment revenue	0	0
	Revenue from operations	4687771000	17045671000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	a) India	0	0
2	b) Outside India	0	0
	Total Profit before tax	0	0
	i. Finance cost	0	0
	ii. Other Unallocable Expenditure net off Unallocable income	0	0
	Profit before tax	0	0
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	a) India	18591451000	18591451000
2	b) Outside India	1449007000	1449007000
	Total Segment Asset	20040458000	20040458000
	Un-allocable Assets	0	0
	Net Segment Asset	20040458000	20040458000
4	Segment Liabilities
	Segment Liabilities
1	a) India	0	0
2	b) Outside India	0	0
	Total Segment Liabilities	0	0
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	0	0
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurement of the net defined benefit liability/assets	1131000	-8131000
	Total Amount of items that will not be reclassified to profit and loss	1131000	-8131000
2	Income tax relating to items that will not be reclassified to profit or loss	285000	-2047000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	846000	-6084000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			1616017000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			677903000
	Adjustments for decrease (increase) in inventories			-337993000
	Adjustments for decrease (increase) in trade receivables, current			216632000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-11615000
	Adjustments for decrease (increase) in other non-current assets			-27878000
	Adjustments for other financial assets, non-current			-190890000
	Adjustments for other financial assets, current			-72199000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			573894000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			51618000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			805166000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			-3954000
	Adjustments for provisions, non-current			-11153000
	Adjustments for other financial liabilities, current			49194000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			6573000
	Adjustments for dividend income			0
	Adjustments for interest income			80305000
	Adjustments for share-based payments			5851000
	Adjustments for fair value losses (gains)			-7000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			1650837000
	Net cash flows from (used in) operations			3266854000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			375435000
	Other inflows (outflows) of cash			-6058000
	Net cash flows from (used in) operating activities			2885361000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			2257954000
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			76287000
	Purchase of property, plant and equipment			3261571000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			81045000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) investing activities	-5362193000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			3468589000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			2448826000
	Repayments of borrowings			2232104000
	Payments of lease liabilities			-300257000
	Dividends paid			52917000
	Interest paid			675622000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-564116000
	Net cash flows from (used in) financing activities			2692913000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			216081000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			216081000
	Cash and cash equivalents cash flow statement at beginning of period			770453000
	Cash and cash equivalents cash flow statement at end of period			986534000