About Pitti Engineering Limited

Pitti Engineering Limited is India’s largest manufacturer and exporter of electrical steel laminations and a trusted partner for precision-engineered components used in rotating electrical equipment and heavy engineering applications. Established in 1983 by Founder & Chairman Shri Sharad B Pitti, the Company has grown from a single facility into a multi-location enterprise with comprehensive integrated capabilities built over four decades. The Company’s product portfolio spans electrical steel laminations, castings, die-cast rotors, sub‑assemblies for motor and generator cores, and fully machined and fabricated components such as shafts.

Pitti serves a wide spectrum of industries, including railways, power generation (hydro and thermal), wind energy, mining, cement, steel, sugar, construction, lift irrigation, appliances and consumer goods, data centres, automotive, and special purpose motors. Its multi-location manufacturing footprint spans Telangana, Maharashtra, and Karnataka, supporting an end-to-end production model — from lamination and machining to assembly and packaging. As on March 31, 2025, consolidated capacities stood at 90,000 MT of sheet metal, 6,33,600 machining hours, and 18,600 MT of castings, with a workforce of 2,015 employees.

The Company is a global supplier to leading equipment manufacturers across markets such as the USA, Mexico, Germany, Spain, Switzerland, South Africa, China, Australia, Canada, Brazil, and Kazakhstan. Pitti Engineering Limited maintains a strong domestic presence while leveraging international scale through exports, which account for nearly one‑third of revenue. As of March 31, 2025, the Company had two wholly owned subsidiaries complementing its operations in laminations and castings.

Key Milestones of Pitti Engineering Limited

• Incorporated in 1983 under the leadership of Founder & Chairman Shri Sharad B Pitti.
• Listed its equity shares on Indian stock exchanges, establishing access to public capital markets.
• Commissioned its mega manufacturing plant at Chhatrapati Sambhajinagar, expanding production capabilities.
• Strengthened strategic partnerships, including a multi‑year supply agreement with Wabtec valued at approximately Rs 700 crore.
• Commenced commercial production at Chhatrapati Sambhajinagar, marking a major operational milestone.
• Expanded global exports to key industrial and OEM markets.

Pitti Engineering Limited Business Verticals and Geography-Wise Revenue 

Business Segments (FY 2024–25):

• Rotating Electrical Equipment – 66.59% of revenue.
• Machined Components – 14.90% of revenue.
• Casting – 18.51% of revenue.

Geography-wise Revenue Mix (FY 2024–25):

• Domestic – 69.48% of revenue.
• Exports – 30.52% of revenue.

The Company operates multi-location facilities in Telangana, Maharashtra, and Karnataka and exports to over ten key global markets including the USA, Germany, and Australia. Its diversified customer base across industrial and transportation sectors underscores its strong geographic and end‑user diversification.

Pitti Engineering Limited Key Management

• Shri Sharad B Pitti – Founder & Chairman
• Shri Akshay S Pitti – Managing Director & Chief Executive Officer
• Shri M Pavan Kumar – Chief Financial Officer
• Kum Mary Monica Braganza – Company Secretary & Chief Compliance Officer

Latest Updates on Pitti Engineering Limited

• Strategic acquisitions: Acquired Bagadia Chaitra Industries Private Limited on May 6, 2024 (facility at Tumakuru, Karnataka), entering the agricultural pump and appliance segment, and Dakshin Foundry Private Limited on July 25, 2024 (facility at Hosakote, Karnataka), strengthening casting capabilities and export profile. Total consolidated casting capacity increased to 18,600 MT.
• Merger and consolidation: The National Company Law Tribunal (Hyderabad Bench) approved on October 3, 2024, a Scheme of Amalgamation for two group entities with the Company (appointed date: April 1, 2023), supporting operational integration and synergy benefits.
• Capital raise via QIP: On July 11, 2024, the Company allotted 34,14,749 equity shares at Rs 1,049.25 per share to Qualified Institutional Buyers. Proceeds were entirely deployed toward debt reduction and general corporate purposes.
• Employee stock options: On March 13, 2025, the Nomination and Remuneration Committee approved the first ESOP grant of 7,87,500 options under the “Pitti ESOP Scheme 2024” at an exercise price of Rs 736.72 for eligible employees across the Company and its subsidiaries.
• Product and capability expansion: Commissioned a generator lamination coating line—the first of its kind in India—to supply revarnished laminations for hydro and thermal power applications. Entered the hydrogen electrolyser component segment.
• Operational milestone: Commenced commercial production at the Chhatrapati Sambhajinagar facility, bolstering manufacturing output and delivery capacity.
• Recognitions: Received Supplier Excellence Recognition from Caterpillar (2024) and Best Supplier Delivery Award from TMEIC (2024).