PITTIENG2024-01-012024-03-31 PITTIENG2024-01-012024-03-31 PITTIENG2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member PITTIENG2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member PITTIENG2024-03-31 PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue01Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue02Member PITTIENG2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue01Member PITTIENG2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue02Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults01Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults02Member PITTIENG2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults01Member PITTIENG2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults02Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets01Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets02Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member PITTIENG2024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member PITTIENG2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member PITTIENG2024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 513519 PITTIENG NOTLISTED Pitti Engineering Limited Equity 2023-04-01 2024-03-31 2024-05-15 2024-05-08 INR Lakhs Yearly 15:00:00 17:10:00 2024-05-15 2024-05-15 true Cash Flow Indirect Declaration of unmodified opinion Geographical 2024-01-01 2024-03-31 Audited Consolidated 3278833000.00 314383000.00 3593216000.00 2120805000.00 0.00 17317000.00 317462000.00 136431000.00 140196000.00 336857000.00 3069068000.00 524148000.00 0.00 524148000.00 128162000.00 -7557000.00 120605000.00 0.00 403543000.00 0.00 0.00 0.00 0.00 403543000.00 14952000.00 418495000.00 0.00 0.00 0.00 0.00 160292000.00 5 12.59 12.59 0.00 0.00 12.59 12.59 1. The above financial results for the quarter and Year ended 31st March 2024 has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 15th May 2024. 2. The consolidated financial results include results of the following: a. Holding Company – Pitti Engineering Limited b. Wholly owned subsidiary – Pitti Rail and Engineering Components Limited 3. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed uner Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in terms of Regulations issued by Securities and Exchange Board of India (SEBI). 4. The 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. 5. The Board of Directors have recommended a dividend of Rs.1.50/- (30%) per equity share of Rs. 5/- each for the year ended 31st March 2024 subject to approval of members of the Company at the ensuing 40th Annual General Meeting. 6. The Board of Directors at their meeting held on 15th June 2023 considered and approved the Scheme of Amalgamation among Pitti Castings Private Limited (PCPL) and Pitti Rail and Engineering Components Limited (PRECL) and Pitti Engineering Limited and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013 and the rules framed thereunder (Scheme). The Scheme, inter-alia, provides for amalgamation of PCPL and PRECL with Pitti Engineering Limited. The Company had filed the Scheme with Stock Exchanges on 26th June 2023 and received their no objection on 26th October 2023. Further, the Company has received approval from the shareholders and creditors pursuant to an National Company Law Tribunal (NCLT) convened meeting on 22nd March 2024. A joint petition has been filed with the NCLT, Hyderabad bench on 29th March 2024 and the same is reserved for hearing on 07th June 2024. Pending receipt of necessary approvals, no effect of the Scheme has been given in the financial results for the quarter and year ended 31st March 2024. 7. Consequent to the Share Purchase Agreement dated 11th March 2024, entered into between the Company and Shri Chaitra Sundaresh, Smt Ronak Bagadia (Sellers) and Bagadia Chaitra Industries Private Limited (BCIPL), the Company has completed the acquisition of 100% of the equity share capital of BCIPL on 6th May 2024. With this acquisition, BCIPL has become a wholly-owned subsidiary of the Company w.e.f 6th May 2024. 8. The Company has received an addenda letter from the Directorate of Industries Government of Maharashtra, under the Package Scheme of Incentive Policy (PSI) 2013, which states that the Company’s eligibility of Industrial Promotion Subsidy (IPS) has enhanced to Rs.16865.05 lakhs from the existing Rs. 10360.52 lakhs with an annual cap of Rs. 3171.62 lakhs, which is available with effect from FY 21-22 to FY 24-25, as per the terms of the scheme. Based on the above eligibility, the Company has recorded an additional incentive amount of Rs. 3044.79 lakhs during the quarter and year ended 31st March 2024 under the head other income towards Industrial incentive sanctioned for FY 21-22 and FY 22-23. 9. The Group 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.9 of the results submitted to the stock exchanges. 10. Figures of the previous quarters/year have been regrouped and rearranged wherever necessary to correspond with current year's presentation. Geographical 2023-04-01 2024-03-31 Audited Consolidated 12015964000.00 482089000.00 12498053000.00 8004096000.00 0.00 55041000.00 1081648000.00 499930000.00 540191000.00 1098080000.00 11278986000.00 1219067000.00 0.00 1219067000.00 351731000.00 -34577000.00 317154000.00 0.00 901913000.00 0.00 0.00 0.00 0.00 901913000.00 -41564000.00 860349000.00 0.00 0.00 0.00 0.00 160292000.00 5 4001948000.00 28.14 28.14 0.00 0.00 28.14 28.14 Other Expenses 336857000.00 Other Expenses 1098080000.00 0.00 4169349000.00 1180777000.00 0.00 0.00 52413000.00 0.00 0.00 0.00 152023000.00 0.00 0.00 37743000.00 189766000.00 0.00 640226000.00 6232531000.00 2701995000.00 123000.00 2103922000.00 759341000.00 335124000.00 0.00 13946000.00 3212456000.00 0.00 1152876000.00 7067327000.00 13299858000.00 160292000.00 4001948000.00 4162240000.00 4162240000.00 2629434000.00 0.00 625849000.00 3255283000.00 172931000.00 36552000.00 0.00 36000.00 3464802000.00 2737429000.00 2275517000.00 295577000.00 5308523000.00 31707000.00 61709000.00 270877000.00 0.00 5672816000.00 0.00 0.00 9137618000.00 13299858000.00 India 2345890000.00 Outside India 1247326000.00 India 8153346000.00 Outside India 4344707000.00 3593216000.00 12498053000.00 3593216000.00 12498053000.00 India 0.00 Outside India 0.00 India 0.00 Outside India 0.00 0.00 0.00 0.00 0.00 India 11745900000.00 Outside India 1553958000.00 13299858000.00 India 0.00 Outside India 0.00 0.00 499930000.00 -308855000.00 -291506000.00 0.00 -676933000.00 -2400000.00 47512000.00 -1425000.00 0.00 -247980000.00 0.00 -13640000.00 0.00 540191000.00 0.00 19195000.00 91226000.00 37994000.00 0.00 10009000.00 0.00 26756000.00 0.00 -597000.00 0.00 0.00 0.00 -54419000.00 0.00 -378454000.00 840613000.00 0.00 0.00 0.00 104778000.00 0.00 735835000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9771000.00 2388023000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2003000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22860000.00 0.00 0.00 0.00 -2357395000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2747349000.00 279569000.00 12895000.00 -142525000.00 38313000.00 494732000.00 0.00 -80478000.00 1983887000.00 362327000.00 0.00 362327000.00 397014000.00 759341000.00 19981000.00 -55543000.00 5029000.00 -13979000.00