Pitti Engineering Limited (PITTIENG.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-274.6%

-₹1,491.21

vs ₹854.20 price

Levered DCF

-₹739.08

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.77

Grey zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	21.67×	30.13×	30.85×	14.76×	19.94×	7.41×	3.9×	7.28×
P/B	2.59×	4.1×	6.22×	2.6×	3.64×	0.9×	0.32×	0.98×
P/S	1.33×	2.16×	2.16×	0.79×	1.09×	0.42×	0.13×	0.28×
EV / EBITDA	10.19×	13.66×	14.22×	7.88×	10.16×	5.44×	4.29×	4.98×
Gross margin	25.2%	40.4%	32.3%	28.5%	13.7%	14.4%	31.1%	15.4%
Operating margin	11.0%	11.2%	23.0%	9.6%	9.7%	8.3%	8.4%	10.0%
Net margin	6.2%	7.2%	7.5%	5.3%	5.5%	5.6%	3.3%	3.9%
Current ratio	1.4×	1.22×	1.25×	1.2×	1.19×	1.13×	1.1×	1.1×
Debt / equity	0.82×	0.77×	1.51×	1.07×	1.38×	1.35×	1.18×	1.4×
Interest coverage	2.53×	2.81×	5.57×	2.49×	2.34×	1.49×	1.4×	2.12×
Dividend yield	0.2%	0.1%	0.1%	0.9%	0.4%	0.0%	0.0%	0.0%
Payout ratio	4.8%	4.3%	4.3%	12.8%	7.3%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.9%	13.6%	21.6%	17.6%	18.3%	12.2%	8.2%	13.5%
Return on invested capital	8.0%	8.8%	19.5%	11.0%	9.7%	5.5%	7.8%	7.9%
Return on assets	5.5%	6.1%	6.7%	6.0%	5.4%	4.1%	2.9%	4.1%
Free cash flow yield	-2.5%	-1.0%	-6.4%	13.3%	-0.6%	-17.5%	33.1%	12.7%
Earnings yield	4.6%	3.3%	3.5%	6.8%	5.0%	13.5%	25.6%	13.7%
Enterprise value	₹32.2B	₹42.3B	₹31.4B	₹11.9B	₹14.2B	₹5.3B	₹3B	₹4.2B
Net debt / EBITDA	2.1×	1.77×	2.49×	2.11×	2.76×	3.25×	3.35×	2.92×
Cash conversion cycle (days)	97	72	104	65	117	184	132	113