Pattech Fitwell Tube Components Limited (PATTECH)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Pattech Fitwell's revenue was ₹24.3 Cr (+2.1% year on year, -31.5% on the previous half-year), and net profit ₹1.0 Cr (+284.6% year on year); the operating margin was 8.9%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹24.3 | +2.1% | -31.5% |
| Operating profit | ₹2.2 | +39.4% | +15.8% |
| Net profit | ₹1.0 | +284.6% | +13.4% |
| EPS (₹) | 1.06 | +211.8% | +12.8% |
| Operating margin | 8.9% | — | — |
📢 Recent Corporate Announcements
Pattech Fitwell Tube Components Limited conducted its 4th Annual General Meeting on September 18, 2026. Management reviewed FY26 operational performance, reporting revenue from operations of ₹59.77 Crores (a 24.18% YoY growth) and a net profit of ₹1.88 Crores. The Chairman also highlighted the completion of a ₹17.50 Crore capital raise through 16.40 lakh equity shares and 24.59 lakh warrants at ₹77.50 per unit to fund capacity expansion. Key agenda items included the adoption of FY26 financials and the reappointment of retiring director Mr. Jaysukhbhai Popatbhai Limbani.
- 4th AGM concluded on September 18, 2026, within 15 minutes via video conferencing
- FY26 revenue from operations reported at ₹59.77 Crores, growing 24.18% over the previous year
- FY26 Profit Before Tax stood at ₹2.51 Crores with a Net Profit of ₹1.88 Crores
- Completed ₹17.50 Crore fundraise via 16,40,000 equity shares and 24,59,300 convertible warrants at ₹77.50 each
Pattech Fitwell Tube Components Limited conducted its 4th Annual General Meeting on September 18, 2026. During the address, the Chairman reiterated FY26 revenue from operations at ₹59.77 Crores (a 24.18% YoY growth) and net profit of ₹1.88 Crores. Management also recapped the completed preferential allotment raising ₹17.50 Crores across 16.40 lakh equity shares and 24.59 lakh warrants at ₹77.50 each to fund capacity expansions. Standard ordinary resolutions, including the adoption of FY26 financial statements and director reappointment, were put to vote.
- 4th AGM successfully held via video conferencing on September 18, 2026
- Reported FY26 revenue of ₹59.77 Crores, growing 24.18% over the previous year
- Reported FY26 profit before tax of ₹2.51 Crores and net profit of ₹1.88 Crores
- Recapped ₹17.50 Crores fundraise via 16,40,000 shares and 24,59,300 warrants at ₹77.50 each
- Scrutinizer report and voting results to be declared within 2 working days
Pattech Fitwell Tube Components Limited has issued notice for its 4th Annual General Meeting scheduled for September 18, 2026, via video conferencing. Key agenda items include the adoption of audited financial statements for FY ended March 31, 2026, and the re-appointment of Whole-Time Director Mr. Jaysukhbhai Popatbhai Limbani, who retires by rotation. The remote e-voting window is set from September 15 to September 17, 2026, with a voting cut-off date of September 11, 2026.
- 4th AGM scheduled for September 18, 2026 at 3:00 PM IST via VC/OAVM
- Cut-off date for voting eligibility set as September 11, 2026
- Remote e-voting window runs from 9:00 AM on September 15 to 5:00 PM on September 17, 2026
- Re-appointment of Whole-Time Director Mr. Jaysukhbhai Popatbhai Limbani (holds 1,588,217 shares; drew ₹1,887.56 thousand remuneration in FY26)
Pattech Fitwell Tube Components Limited announced the outcome of its Board meeting held on August 20, 2026. The Board approved the draft Directors' Report for FY 2025-26 and scheduled the 4th Annual General Meeting (AGM) for Friday, September 18, 2026, via video conferencing. The cut-off date for remote e-voting eligibility has been fixed as September 11, 2026. NSDL has been appointed as the e-voting agency, and CS Hardikkumar Jetani will act as the scrutinizer.
- 4th Annual General Meeting scheduled for September 18, 2026 at 03:00 PM IST via VC/OAVM
- Cut-off date for remote e-voting set as September 11, 2026
- Approved Draft Directors' Report and Annual Report for FY 2025-26
- Appointed NSDL as e-voting agency and CS Hardikkumar Jetani as scrutinizer
Financial Performance
Revenue Growth by Segment
The company operates in a single segment, 'Castings & Forgings', which generated revenue of INR 48.13 Crores in FY25, representing a growth of 27.63% YoY. For the half-year ended September 30, 2025, revenue reached INR 35.47 Crores, a 45.8% increase compared to INR 24.32 Crores in the same period the previous year.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered and operates out of Vadodara, Gujarat.
Profitability Margins
Net Profit Margin was 2.53% in FY25 (INR 1.22 Crores profit on INR 48.13 Crores revenue). For H1 FY26, the Net Profit Margin slightly decreased to 2.48% (INR 0.88 Crores profit on INR 35.47 Crores revenue).
EBITDA Margin
EBITDA margin for FY25 was approximately 7.79%, calculated from a PBT of INR 1.74 Crores plus Finance Costs of INR 1.68 Crores and Depreciation of INR 0.32 Crores against INR 48.13 Crores in revenue.
Capital Expenditure
The company invested INR 1.10 Crores in fixed assets during H1 FY26. It raised INR 17.50 Crores through a preferential issue in August 2025, with a significant portion earmarked for the installation of new machinery and capacity expansion.
Credit Rating & Borrowing
Finance costs stood at INR 1.68 Crores for FY25, representing 3.5% of total revenue. Long-term borrowings were reduced by INR 0.45 Crores during the half-year ended September 30, 2025.
Operational Drivers
Raw Materials
Steel-based components including plates, pipes, valves, fittings, and flanges. Raw material consumption (INR 32.23 Crores) accounted for 90.8% of total revenue in H1 FY26.
Capacity Expansion
The company is actively increasing capacity utilization and expanding its manufacturing footprint using INR 17.50 Crores raised via equity and warrants to install latest machinery for forged and machined components.
Raw Material Costs
Raw material costs were INR 45.77 Crores in FY25, consuming 95% of revenue. In H1 FY26, material costs were INR 32.23 Crores, or 90.8% of revenue, reflecting high sensitivity to metal prices.
Manufacturing Efficiency
Management is focused on increasing the utilization of existing manufacturing capacity to enhance profit margins.
Logistics & Distribution
Other expenses, which include distribution and administrative costs, were INR 0.77 Crores in FY25, or 1.6% of revenue.
Strategic Growth
Expected Growth Rate
27.63%
Growth Strategy
Growth will be driven by a INR 17.50 Crores capital infusion for capacity expansion, upscaling existing products, and potential strategic partnerships. The company is aligning its strategy with India's infrastructure goals to secure large project orders for customized tube components.
Products & Services
Forged and machined components, pipe fittings, tube fittings, flanges, and valves used in industrial piping systems.
Brand Portfolio
Pattech Fitwell.
New Products/Services
The company is focusing on the upscaling and upgradation of its existing forged and machined product line through new machinery installations.
Market Expansion
Targeting increased market penetration by leveraging its ability to deliver both standardized and customized project orders.
Strategic Alliances
Proceeds from the 2025 preferential issue are specifically allocated for potential strategic partnerships or alliances with similar businesses.
External Factors
Industry Trends
The pipe fittings industry is seeing a shift toward sustainable manufacturing and 'Zero Harm' environmental standards, alongside increased demand for customized forged components.
Competitive Landscape
Operates in the competitive SME sector for castings and forgings, competing on customization and delivery efficiency.
Competitive Moat
The company's moat is built on its robust facilities capable of manufacturing both standardized and customized products, allowing it to efficiently handle large-scale project orders.
Macro Economic Sensitivity
Highly sensitive to industrial infrastructure spending and the Government of India's 'Vision 2047' for national development.
Consumer Behavior
Demand is primarily driven by B2B industrial project cycles rather than individual consumer trends.
Geopolitical Risks
Potential trade barriers or global supply chain disruptions affecting the sourcing of steel components.
Regulatory & Governance
Industry Regulations
Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and the Companies Act 2013 for financial reporting and manufacturing standards.
Environmental Compliance
The company maintains a 'Zero Harm' commitment toward the environment and communities as part of its sustainable growth approach.
Taxation Policy Impact
The effective tax rate for FY25 was 29.6%, with a total tax expense of INR 0.51 Crores on a PBT of INR 1.74 Crores.
Legal Contingencies
The company reported zero pending investor complaints as of September 30, 2025.
Risk Analysis
Key Uncertainties
The primary risk is the extreme concentration of raw material costs (over 90% of revenue), where a minor spike in steel prices could lead to operational losses.
Geographic Concentration Risk
Manufacturing operations are concentrated in a single location in Vadodara, Gujarat.
Third Party Dependencies
Dependency on Bigshare Services Private Limited for registrar and share transfer agent services.
Technology Obsolescence Risk
The company is mitigating technology risks by investing in 'new and latest machinery' through its recent capital raise.
Credit & Counterparty Risk
Trade receivables were INR 12.84 Crores as of September 2025, representing approximately 36% of the half-year revenue, indicating significant credit exposure.
