Pitti Engineering Plans To Expansion At Aurangabad And Hyderabad, Telangana
Pitti Engineering Limited's board of directors has approved the expansion plan to enhance its installed capacity from the existing 36,000 MT to 46,000 Mt for sheet metal components and from 2,24,600 hours to 4,05,600 hours for machining. The cost of the said plans is estimated at around INR 190 crores and will be funded by internal accruals / issues of securities / unsecured loans and long term borrowings from banks / financial institutions / ECB. This expansion will be undertaken in phase at the Aurangabad and Hyderabad plants and will be completed in a span of 36 months. The company is currently operating at around 70% capacity. The enhancement in capacity will help the Company to increase its capabilities and market reach and enhance inhouse manufacturing of bought out components which will help optimisation of the supply chain and increase the operating margins of the company.