Pitti Engineering Ltd Share Price – NSE  /  BSE

Capital Goods-Non Electrical Equipment, Small Cap

Pitti Engineering, leading Engineering Company in the country, has successfully raised Rs. 35,999.99 lakhs through the qualified institutions placement (QIP). The proceeds of the QIP would be used for repaying and/or prepaying certain borrowings availed by the Company and for other general corporate purposes. The issue was opened on 8th July 2024 and closed on 11th July 2024 after its Fund Raising Committee approved the allotment of 34,14,749 equity shares to qualified institutional buyers at the issue price of Rs.1054.25 per equity share.

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Pitti Engg. announced that the Board of Directors of the Company at its meeting held on 15 May 2024, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Pitti Engg. announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 13 June 2024 .

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Net profit of Pitti Engineering rose 62.51% to Rs 40.35 crore in the quarter ended March 2024 as against Rs 24.83 crore during the previous quarter ended March 2023. Sales rose 32.48% to Rs 327.88 crore in the quarter ended March 2024 as against Rs 247.50 crore during the previous quarter ended March 2023.

For the full year,net profit rose 53.31% to Rs 90.19 crore in the year ended March 2024 as against Rs 58.83 crore during the previous year ended March 2023. Sales rose 9.22% to Rs 1201.60 crore in the year ended March 2024 as against Rs 1100.17 crore during the previous year ended March 2023.

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