Pitti Engineering Ltd (PITTIENG)

Pitti Engineering to Enhance Market Footprint in South India - 21 Mar, 2024

KR Choksey has maintained its Buy rating on Pitti Engineering Limited (PEL) with a target price of Rs 1,083. PEL has finalized an agreement with Bagadia Chaitra Industries Private Limited (BCIPL) to enhance its market footprint in South India and increase its capacity to approximately 90,000 tonnes. The acquisition offers numerous financial advantages, including bolstered asset base, increased production capacity, facilitating entry into new sectors and customer acquisition.

Pitti Engineering Acquires Company for Expansion - 19 Mar, 2024

Pitti Engineering has acquired Bagadia Chaitra Industries Private Limited to expand its presence in South India, increase production capacity, enter new sectors, and gain new customers. Analysts assign a target price of Rs 1,083 per share with a 50% upside from current levels, maintaining a Buy rating on the shares.

Pitti Engineering's Debt Looks Manageable - 14 Mar, 2024

Pitti Engineering has a net debt worth 2.0 times EBITDA, but its ability to pay down debt is enhanced by growing EBIT by 27% in the last year. While interest payments are somewhat of a burden, Pitti Engineering can handle its debt fairly comfortably.

Pitti Engineering Acquires Bagadia Chaitra Industries - 12 Mar, 2024

Pitti Engineering is set to acquire Bagadia Chaitra Industries for an enterprise value of Rs 125 crore and will inject up to Rs 40 crore as funding into the company on the closing date. The acquisition broadens Pitti's presence in South India and adds to its overall asset base and production capacity.

Pitti Engineering Acquires Bagadia Chaitra Industries - 11 Mar, 2024

Pitti Engineering Limited has signed an agreement to acquire Bagadia Chaitra Industries Private Limited for Rs 124.92 crore, enabling greater market penetration, entry into new end-use sectors, and enhanced operational strength.