Pitti Engineering to pump Rs 190 cr to ramp up capacity
The expansion will be taken up in phases at its Aurangabad and Hyderabad plants
The board of Pitti Engineering has approved an expansion plan to enhance its installed capacity for sheet metal components. The capacity will be augmented from 36,000 million tonne to 46,000 million tonne. It will also expand its machining capacity from 2,42,600 hours to 4,05,600 hours.
The estimated cost of these plans is Rs 190 crore, to be funded by internal accruals and long-term borrowings or by external commercial borrowings. The expansion will be taken up in phases at its Aurangabad and Hyderabad plants and completed within 36 months.
The company is currently operating at around 70% capacity. The enhancement in capacity will help it increase its capabilities and market reach and enhance in-house manufacturing of bought-out components. This, in turn, will help optimise the supply chain and increase the operating margins of the company.