Companies

Pitti eyes new business in precision engineering

V Rishi Kumar Hyderabad | Updated on August 31, 2020

Company on course with its expansion plan

Pitti Engineering is eyeing new areas in precision engineering even as it goes ahead with its ₹250-crore expansion plan to enhance its current installed capacity.

The company is working towards expanding its production capacity from the existing 36,000 MT to 46,000 MT per annum for sheet metal components and its machining capability from 2,47,600 hours to 4,05,600 hours.

The company has a residual long-term order book of ₹550 crore, which comprises engineering products catering to user industries that includes diesel and electric locomotives for Indian Railways, data farms consumer durables and renewable energy.

Akshay Pitti, Vice-Chairman and Managing Director, said, “Our operations are marginally impacted by Covid-19 outbreak and lockdown. Our orders are intact as majority of them are long term in nature. We have started deliveries for our customers. We are seeing the green shoots and we are in the processing of winning more orders during the current year.”

“We are hopeful of the capex recovery. Worldwide capital goods players were operating on just in time inventories for the last couple of years. The suppliers are exhausted and tremendous order flow is expected to just to meet the current demand in capital goods sectors especially in high value added products, wherein we have a presence,” he said.

The company’s strategy to cater to multiple sub-sectors in the same segment has paid off. This has insulated company from many cyclical demand curves in the capital goods sector, he said.

Pitti Engineering products include power systems for data firms, propulsion systems for electric vehicles and various sub-assemblies for intercity passenger and freight movement components for mass urban transit systems and renewable energy.

Published on August 31, 2020

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