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Axis Securities Report
Brokerage firm Axis Securities has highlighted that Pitti Engineering Ltd. continues to deliver steady growth. Persistent demand from key end-user industries, despite short-term fluctuations, is expected to drive improved utilisation levels.
Recently announced capacity additions will further support revenue growth in FY27 and beyond, with a meaningful earnings contribution from FY28. Revenue growth is expected to be supported by the capex, recent trade deals between India and the US, as well as Europe.
Increased share of value-added products and operating leverage shall help in improving the margins going ahead.
The brokerage values the stock at 20 times FY28E earnings per share and recommend a Buy on the stock with a target price of Rs 1,250/share, implying an upside of 10% from the current market price of Rs 1,135.
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