Mumbai 31st August, 2020: Pitti Engineering, which has progressed itself into an integrated and complete engineering solutions provider, is very well on track on its expansion plan of Rs. 250 crore to enhance its installed capacity from the existing 36,000 MT to 46,000 MT for sheet metal components and from 2,47,600 hours to 405,600 hours for machining.
The residual long-term order book stands at Rs 550 crore, which comprises of engineering products catering to user industries like Diesel and electric locomotives for Indian Railways, data farms, consumer durables and renewable energy.
Pitti Engineering has presence in range of engineering products, from highly efficient modern locomotives to green transport solutions through electric vehicles, from renewable energy through hydro and wind power to super critical lesser emission thermal power, from India’s first self-propelled engine-less train, to ultra-modern irrigation projects. Company’s products find a suitable application in almost every equipment that rotates or generates electricity.
The other prestigious 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.
Commenting on the resumption of its manufacturing operations, Mr. Akshay Pitti, Vice Chairman and Managing Director, said that, “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 very hopeful that the capex recovery on the anvil. 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 further added that, “Company’s well-crafted strategy to cater to multiple sub-sectors in the same segment based on its more than two decades of experience really paid off. This has insulated company from many cyclical demand curves in the capital goods sector”. PWR PWR