Multibagger small-cap company makes additional investment in its wholly-owned subsidiary; stock has given 1330 per cent returns in 3 years!

The final dividend of Rs 1.20 per share was declared by the company

On June 9, 2023, the shares of Pitti Engineering Limited surged 5.10 per cent, to trade at an intraday high of Rs 384.95 per share on BSE. The 52-week high and 52-week low is Rs 390.35 per share and Rs 256.80 per share, respectively on BSE. 

Pitti Engineering manufactures Electrical Steel Laminations, Motor Cores, Sub-Assemblies, Die-Cast Rotors, Press Tools, and metal component machining. 

The company has made additional investments of Rs 5,00,000 in its wholly-owned subsidiary, Pitti Rail and Engineering Components Limited, by subscribing to 50,000 fully paid-up equity shares with a face value of Rs 10 each through a rights issue. 

Pitti Engineering Limited released its financial statements for the quarter and year ending March 31, 2023. In Q4FY23, the company’s total revenue dipped by 8.8 per cent on YoY basis from Q4FY22 to Rs 247.51 crore. 

 The operating profit recorded at Rs 40.56 crore, witnessed a surge of 14.67 per cent from last year’s same quarter. The net profit of Pitti Engineering Ltd zoomed by 19.79 per cent from the corresponding quarter last year to Rs 24.83 crore. 

For the fiscal year 2023, the company’s total revenue surged by 15.43 per cent from last year’s same quarter to Rs 1,100.17 crore. The EBITDA levels stood at Rs 151.39 crore, witnessing a growth of 14.15 per cent from March 2022. 

The net profit of the company was recorded at Rs 58.83 crore, up by 13.35 per cent from the corresponding quarter last year. The final dividend of Rs 1.20 per share was declared by the company. 

The stock has witnessed significant buying activity as it has increased more than 21 per cent in just one year. Moreover, the stock has given multibagger returns of more than 1330 per cent in just 3 years. 

Keep a close eye on this trending stock.