Reported Earnings • Aug 08
First quarter 2027 earnings released: EPS: ₹38.71 (vs ₹20.45 in 1Q 2026) First quarter 2027 results: EPS: ₹38.71 (up from ₹20.45 in 1Q 2026). Revenue: ₹1.77b (up 45% from 1Q 2026). Net income: ₹527.5m (up 89% from 1Q 2026). Profit margin: 30% (up from 23% in 1Q 2026). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
PIX Transmissions Limited to Report Q1, 2027 Results on Aug 07, 2026 PIX Transmissions Limited announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • Jul 02
Full year 2026 earnings released: EPS: ₹78.45 (vs ₹82.85 in FY 2025) Full year 2026 results: EPS: ₹78.45 (down from ₹82.85 in FY 2025). Revenue: ₹5.84b (down 2.4% from FY 2025). Net income: ₹1.07b (down 5.3% from FY 2025). Profit margin: 18% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Announcement • Jun 30
PIX Transmissions Limited, Annual General Meeting, Jul 22, 2026 PIX Transmissions Limited, Annual General Meeting, Jul 22, 2026, at 09:30 Indian Standard Time. Location: j-7, midc, hingna, road, maharashtra - 440 016, nagpur India Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,868, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 28x in the Machinery industry in India. Total returns to shareholders of 105% over the past three years. Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹78.45 (vs ₹82.85 in FY 2025) Full year 2026 results: EPS: ₹78.45 (down from ₹82.85 in FY 2025). Revenue: ₹6.00b (flat on FY 2025). Net income: ₹1.07b (down 5.3% from FY 2025). Profit margin: 18% (down from 19% in FY 2025). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. Announcement • May 15
PIX Transmissions Limited to Report Q4, 2026 Results on May 22, 2026 PIX Transmissions Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 22, 2026 Buy Or Sell Opportunity • Apr 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₹1,560. The fair value is estimated to be ₹1,286, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 23%. Buy Or Sell Opportunity • Feb 18
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.6% to ₹1,550. The fair value is estimated to be ₹1,288, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 23%. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹25.88 (vs ₹16.33 in 3Q 2025) Third quarter 2026 results: EPS: ₹25.88 (up from ₹16.33 in 3Q 2025). Revenue: ₹1.60b (up 15% from 3Q 2025). Net income: ₹352.6m (up 59% from 3Q 2025). Profit margin: 22% (up from 16% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. Announcement • Feb 06
PIX Transmissions Limited to Report Q3, 2026 Results on Feb 13, 2026 PIX Transmissions Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,474, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 94% over the past three years. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹17.28 (vs ₹29.75 in 2Q 2025) Second quarter 2026 results: EPS: ₹17.28 (down from ₹29.75 in 2Q 2025). Revenue: ₹1.44b (down 9.7% from 2Q 2025). Net income: ₹235.4m (down 42% from 2Q 2025). Profit margin: 16% (down from 26% in 2Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 19% per year. Announcement • Nov 08
PIX Transmissions Limited to Report Q2, 2026 Results on Nov 14, 2025 PIX Transmissions Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹20.45 (vs ₹20.14 in 1Q 2025) First quarter 2026 results: EPS: ₹20.45 (up from ₹20.14 in 1Q 2025). Revenue: ₹1.36b (up 5.3% from 1Q 2025). Net income: ₹278.6m (up 1.5% from 1Q 2025). Profit margin: 21% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
PIX Transmissions Limited to Report Q1, 2026 Results on Aug 08, 2025 PIX Transmissions Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Announcement • Jul 29
PIX Transmissions Limited Approves Appointment of Thakur G Hotchandani as Non-Executive Independent Director PIX Transmissions Limited announced that at the AGM held on 26 July, 2025 approved the appointment of Mr. Thakur G Hotchandani as Non-Executive Independent Director. Upcoming Dividend • Jul 11
Upcoming dividend of ₹9.00 per share Eligible shareholders must have bought the stock before 18 July 2025. Payment date: 25 August 2025. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 09
Full year 2025 earnings released: EPS: ₹82.85 (vs ₹60.91 in FY 2024) Full year 2025 results: EPS: ₹82.85 (up from ₹60.91 in FY 2024). Revenue: ₹5.94b (up 19% from FY 2024). Net income: ₹1.13b (up 36% from FY 2024). Profit margin: 19% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Announcement • May 26
PIX Transmissions Limited, Annual General Meeting, Jul 26, 2025 PIX Transmissions Limited, Annual General Meeting, Jul 26, 2025. Declared Dividend • May 26
Dividend increased to ₹9.00 Dividend of ₹9.00 is 29% higher than last year. Ex-date: 18th July 2025 Payment date: 25th August 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 24
Full year 2025 earnings released: EPS: ₹82.84 (vs ₹58.14 in FY 2024) Full year 2025 results: EPS: ₹82.84 (up from ₹58.14 in FY 2024). Revenue: ₹6.07b (up 31% from FY 2024). Net income: ₹1.13b (up 43% from FY 2024). Profit margin: 19% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 24
PIX Transmissions Limited announces Annual dividend, payable on August 25, 2025 PIX Transmissions Limited announced Annual dividend of INR 9.0000 per share payable on August 25, 2025, ex-date on July 18, 2025 and record date on July 18, 2025. Announcement • May 16
PIX Transmissions Limited to Report Q4, 2025 Results on May 23, 2025 PIX Transmissions Limited announced that they will report Q4, 2025 results on May 23, 2025 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹1,473, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 74% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹16.33 (vs ₹16.17 in 3Q 2024) Third quarter 2025 results: EPS: ₹16.33 (up from ₹16.17 in 3Q 2024). Revenue: ₹1.44b (up 13% from 3Q 2024). Net income: ₹222.5m (up 1.0% from 3Q 2024). Profit margin: 15% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 07
PIX Transmissions Limited to Report Q3, 2025 Results on Feb 14, 2025 PIX Transmissions Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹2,083, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 37x in the Machinery industry in India. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,661, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 39x in the Machinery industry in India. Total returns to shareholders of 267% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹2,158, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 35x in the Machinery industry in India. Total returns to shareholders of 194% over the past three years. New Risk • Nov 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: ₹29.75 (vs ₹15.19 in 2Q 2024) Second quarter 2025 results: EPS: ₹29.75 (up from ₹15.19 in 2Q 2024). Revenue: ₹1.70b (up 37% from 2Q 2024). Net income: ₹405.3m (up 96% from 2Q 2024). Profit margin: 24% (up from 17% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
PIX Transmissions Limited to Report Q2, 2025 Results on Nov 08, 2024 PIX Transmissions Limited announced that they will report Q2, 2025 results on Nov 08, 2024 Buy Or Sell Opportunity • Oct 31
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to ₹1,602. The fair value is estimated to be ₹1,295, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Oct 16
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to ₹1,597. The fair value is estimated to be ₹1,290, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Announcement • Sep 19
PIX Transmissions Limited Announces Cessation of Nigel Savio Lobo as Independent Director PIX Transmissions Limited announced that Mr. Nigel Savio Lobo (DIN 06677817) has ceased to be an Independent Director of the Company upon completion of his second and final term of 5 (Five) consecutive years at the close of business hours on September 19, 2024. Buy Or Sell Opportunity • Sep 16
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ₹1,649. The fair value is estimated to be ₹1,291, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: ₹20.14 (vs ₹11.62 in 1Q 2024) First quarter 2025 results: EPS: ₹20.14 (up from ₹11.62 in 1Q 2024). Revenue: ₹1.39b (up 24% from 1Q 2024). Net income: ₹274.5m (up 73% from 1Q 2024). Profit margin: 20% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 02
PIX Transmissions Limited to Report Q1, 2025 Results on Aug 09, 2024 PIX Transmissions Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Announcement • Jul 27
PIX Transmissions Limited Announces Board Appointments PIX Transmissions Limited announced at the AGM held on July 24, 2024, approved Appointment of Mr. Suresh Bandi(DIN 00516274) as non-executive Independent Director
notwithstanding that he has attained the age of 75 years, Effective Date is September 18, 2024, Mr. Suresh Bandi aged 75 years is a qualified chartered Accountant from Institute of Chartered Accountants of India (ICAI) practicing in the areas of Statutory, Tax Audit and GST Audit, and provides consultancy in the accounting finance having clients of diverse businesses and industries. He is also a commerce and law graduate from University of Mumbai and advise companies, societies and charity organization of all accounting and legal matters. Mr. Suresh Bandi has more than 50 years of vast and varied experience in Audit, Accounting and Finance. Appointment of Mr. Sandeep Prajapati (DIN 10683594) as non-executive Independent Director, Mr. Sandeep Prajapati aged 35 years is a qualified Chartered Accountant of Institute of Chartered Accountants of India (ICAI), working in the areas of accounting, audit and taxations of companies, LLPs, Partnerships and individuals. He is also qualified Company Secretary of Institute of Company Secretaries of India and having graduate degree in law post graduate in commerce from University of Mumbai. Mr. Sandeep Prajapati has 3 years of experience of working as Chartered Accountant in areas of Accounting, Audit and taxation, Effective Date is September 18, 2024. Appointment of Mr. Mohammed Hussain Azad (DIN 10674191) as non-executive Independent Director,, Effective Date is September 20, 2024, Mr. Mohammed Husain Azad aged 75 years is a commerce graduate from University of Mumbai and working as consultant in Accounting Finance, Taxation and Corporate Affairs since last 15 years. Before starting consultancy, He had provided around 35 years of service to Pix Transmissions Ltd. and retired as
Assistant General Manager Accounts and Finance in the year 2012. Buy Or Sell Opportunity • Jul 24
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₹1,619. The fair value is estimated to be ₹1,349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹1,615, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 41x in the Machinery industry in India. Total returns to shareholders of 114% over the past three years. Reported Earnings • Jul 05
Full year 2024 earnings released: EPS: ₹58.14 (vs ₹40.65 in FY 2023) Full year 2024 results: EPS: ₹58.14 (up from ₹40.65 in FY 2023). Revenue: ₹4.63b (up 2.4% from FY 2023). Net income: ₹792.1m (up 43% from FY 2023). Profit margin: 17% (up from 12% in FY 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Jul 01
PIX Transmissions Limited, Annual General Meeting, Jul 24, 2024 PIX Transmissions Limited, Annual General Meeting, Jul 24, 2024. Declared Dividend • Jul 01
Dividend increased to ₹7.00 Dividend of ₹7.00 is 17% higher than last year. Ex-date: 16th July 2024 Payment date: 23rd August 2024 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
PIX Transmissions Limited Announces Directorate Appointments The Board of Directors of PIX Transmissions Limited at their Meeting held on 28th June 2024, inter alia, has approved the following: Appointment of Mr. Suresh Bandi as an Additional Director with effect from 28th June, 2024. Appointment of Mr. Mohammed Husain Azad as an Additional Director with effect from 28th June, 2024. Appointment of Mr. Sandeep Prajapati as an Additional Director with effect from 28th June, 2024. Mr. Suresh Bandi aged 75 years is a qualified chartered Accountant from Institute of Chartered Accountants of India (ICAI) practicing in the areas of Statutory, Tax Audit and GST Audit, and provides consultancy in the accounting finance having clients of diverse businesses and industries. He is also a commerce and law graduate from University of Mumbai and advise companies, societies and charity organization of all accounting and legal matters. Mr. Suresh Bandi has more than 50 years of vast and varied experience in Audit, Accounting and Finance. Directorship held in other Companies: Vasant Investment Corporation Ltd, and Colaba Land and Mills Pvt. Ltd. Mr. Mohammed Husain Azad aged 75 years is a commerce graduate from University of Mumbai and working as consultant in Accounting Finance, Taxation and Corporate Affairs since last 15 years. Before starting consultancy, He had provided around 35 years of service to Pix Transmissions Ltd. and retired as Assistant General Manager Accounts and Finance in the year 2012. Mr. Sandeep Prajapati aged 35 years is a qualified Chartered Accountant of Institute of Chartered Accountants of India (ICAI), working in the areas of accounting, audit and taxations of companies, LLPs, Partnerships and individuals. He is also qualified Company Secretary of Institute of Company Secretaries of India and having graduate degree in law post graduate in commerce from University of Mumbai. Mr. Sandeep Prajapati has 3 years of experience of working as Chartered Accountant in areas of Accounting, Audit and taxation. Reported Earnings • May 25
Full year 2024 earnings released: EPS: ₹60.91 (vs ₹47.57 in FY 2023) Full year 2024 results: EPS: ₹60.91 (up from ₹47.57 in FY 2023). Revenue: ₹5.12b (up 5.2% from FY 2023). Net income: ₹829.9m (up 28% from FY 2023). Profit margin: 16% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 25
PIX Transmissions Limited Recommends Final Dividend for the Financial Year Ended on 31 March, 2024 PIX Transmissions Limited recommended final dividend of INR 7.00 (70.00%) per equity share of INR 10 each for the financial year ended on 31 March, 2024, subject to the approval of members in upcoming annual general meeting. Announcement • May 18
PIX Transmissions Limited to Report Q4, 2024 Results on May 24, 2024 PIX Transmissions Limited announced that they will report Q4, 2024 results on May 24, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: ₹16.17 (vs ₹8.68 in 3Q 2023) Third quarter 2024 results: EPS: ₹16.17 (up from ₹8.68 in 3Q 2023). Revenue: ₹1.33b (up 19% from 3Q 2023). Net income: ₹220.3m (up 86% from 3Q 2023). Profit margin: 17% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 01
PIX Transmissions Limited to Report Q3, 2024 Results on Feb 09, 2024 PIX Transmissions Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹15.19 (vs ₹11.90 in 2Q 2023) Second quarter 2024 results: EPS: ₹15.19 (up from ₹11.90 in 2Q 2023). Revenue: ₹1.28b (up 7.2% from 2Q 2023). Net income: ₹206.9m (up 28% from 2Q 2023). Profit margin: 16% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 04
PIX Transmissions Limited to Report Q2, 2024 Results on Nov 10, 2023 PIX Transmissions Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹11.62 (vs ₹12.97 in 1Q 2023) First quarter 2024 results: EPS: ₹11.62 (down from ₹12.97 in 1Q 2023). Revenue: ₹1.15b (down 4.2% from 1Q 2023). Net income: ₹158.3m (down 11% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 120% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 05
PIX Transmissions Limited to Report Q1, 2024 Results on Aug 11, 2023 PIX Transmissions Limited announced that they will report Q1, 2024 results at 3:30 PM, Indian Standard Time on Aug 11, 2023 New Risk • Jul 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹1,208, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 29x in the Machinery industry in India. Total returns to shareholders of 918% over the past three years. Upcoming Dividend • Jul 04
Upcoming dividend of ₹6.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). Announcement • May 27
PIX Transmissions Limited, Annual General Meeting, Jul 19, 2023 PIX Transmissions Limited, Annual General Meeting, Jul 19, 2023. Reported Earnings • May 18
Full year 2023 earnings released: EPS: ₹47.57 (vs ₹50.53 in FY 2022) Full year 2023 results: EPS: ₹47.57 (down from ₹50.53 in FY 2022). Revenue: ₹5.00b (up 11% from FY 2022). Net income: ₹648.2m (down 5.8% from FY 2022). Profit margin: 13% (down from 15% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 112% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹900, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 27x in the Machinery industry in India. Total returns to shareholders of 851% over the past three years. Announcement • May 13
PIX Transmissions Limited Recommends Final Dividend for the Financial Year Ended on March 31, 2023 PIX Transmissions Limited recommended Final Dividend of INR 6.00 (60.00%) per equity share of INR 10/- each for the financial year ended on March 31, 2023, subject to the approval of members in upcoming Annual General Meeting. Announcement • May 06
PIX Transmissions Limited to Report Q4, 2023 Results on May 12, 2023 PIX Transmissions Limited announced that they will report Q4, 2023 results on May 12, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹8.68 (vs ₹12.56 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.68 (down from ₹12.56 in 3Q 2022). Revenue: ₹1.12b (down 2.0% from 3Q 2022). Net income: ₹118.2m (down 31% from 3Q 2022). Profit margin: 11% (down from 15% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
PIX Transmissions Limited to Report Q3, 2023 Results on Feb 10, 2023 PIX Transmissions Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Announcement • Jan 22
PIX Transmissions Limited Appoints Abhilasha Hattangdi as Independent Woman Director PIX Transmissions Limited announced the appointment of Dr. Abhilasha Hattangdi as Independent Woman Director of the company to hold office for a first term of Five consecutive years with effect from November 11, 2022 to November 10, 2027. Announcement • Dec 14
PIX Transmissions Limited Announces Resignation of Prakashchand Khasgiwala as Independent Director PIX Transmissions Limited at its board meeting held on December 13, 2022, accepted the resignation of Mr. Prakashchand Khasgiwala as Independent Director with effect from December 12, 2022. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹11.90 (vs ₹14.51 in 2Q 2022) Second quarter 2023 results: EPS: ₹11.90 (down from ₹14.51 in 2Q 2022). Revenue: ₹1.25b (up 2.4% from 2Q 2022). Net income: ₹162.2m (down 18% from 2Q 2022). Profit margin: 13% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹11.90 (vs ₹14.51 in 2Q 2022) Second quarter 2023 results: EPS: ₹11.90 (down from ₹14.51 in 2Q 2022). Revenue: ₹1.25b (up 2.4% from 2Q 2022). Net income: ₹162.2m (down 18% from 2Q 2022). Profit margin: 13% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 12
PIX Transmissions Limited Appoints Abhilasha Hattangdi as Non-Executive Independent Woman Director PIX Transmissions Limited announced that the Board of Directors at its meeting held on 11th November, 2022 has approved the appointment of Dr. Abhilasha Hattangdi as an Additional Director in the category of Non-Executive Independent Woman Director with effect from 11th November, 2022. Dr. Abhilasha Hattangdi, 71, is M.B.B.S & MD from Mumbai University, she is self employed and actively practicing since past 42 years. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: ₹12.97 (vs ₹12.10 in 1Q 2022) First quarter 2023 results: EPS: ₹12.97 (up from ₹12.10 in 1Q 2022). Revenue: ₹1.27b (up 23% from 1Q 2022). Net income: ₹176.8m (up 7.2% from 1Q 2022). Profit margin: 14% (down from 16% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 28
PIX Transmissions Limited to Report Q1, 2023 Results on Aug 05, 2022 PIX Transmissions Limited announced that they will report Q1, 2023 results on Aug 05, 2022 Upcoming Dividend • Jul 04
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.9%). In line with average of industry peers (0.8%). Reported Earnings • Jun 30
Full year 2022 earnings released: EPS: ₹50.53 (vs ₹47.63 in FY 2021) Full year 2022 results: EPS: ₹50.53 (up from ₹47.63 in FY 2021). Revenue: ₹4.49b (up 18% from FY 2021). Net income: ₹688.4m (up 6.1% from FY 2021). Profit margin: 15% (down from 17% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 29
Pix Transmissions Limited, Annual General Meeting, Jul 20, 2022 Pix Transmissions Limited, Annual General Meeting, Jul 20, 2022, at 09:30 Indian Standard Time. Location: J-7 , MIDC , Hingna , Road Nagpur India Agenda: To receive, consider and adopt the Audited Statement of Profit and Loss for the Year ended 31 March 2022 and the Balance Sheet as on that date together with the Reports of Directors and Auditors thereon; to declare a dividend on Equity Shares for the Financial Year ended 31st March 2022; to appoint a Director in place of Mr. Amarpal Sethi (DIN: 00129462), who retires by rotation and being eligible offers himself for re-appointment; to appoint a Director in place of Mr. Sukhpal Singh Sethi (DIN: 00129235), who retires by rotation and being eligible offers himself for re-appointment; to appoint a Director in place of Mr. Sonepal Sethi (DIN: 00129276), who retires by rotation and being eligible offers himself for re-appointment; and to consider other matters. Announcement • May 14
Pix Transmissions Limited Recommends Dividend for the Financial Year Ended on March 31, 2022 Pix Transmissions Limited at its board meeting held on 13 May 2022 recommended a dividend of INR 6.00 (60.00%) per equity share of INR 10/- each for the financial year ended on March 31, 2022, subject to the approval of members in ensuing Annual General Meeting. Announcement • May 07
Pix Transmissions Limited to Report Fiscal Year 2022 Results on May 13, 2022 Pix Transmissions Limited announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₹968, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 462% over the past three years. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹12.56 (down from ₹13.49 in 3Q 2021). Revenue: ₹1.14b (up 5.8% from 3Q 2021). Net income: ₹171.2m (down 6.8% from 3Q 2021). Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
Pix Transmissions Limited to Report Q3, 2022 Results on Feb 11, 2022 Pix Transmissions Limited announced that they will report Q3, 2022 results on Feb 11, 2022 Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₹858, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 23x in the Machinery industry in India. Total returns to shareholders of 395% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 21% share price gain to ₹847, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 22x in the Machinery industry in India. Total returns to shareholders of 338% over the past three years. Upcoming Dividend • Aug 02
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 09 August 2021. Payment date: 17 September 2021. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (0.7%). Reported Earnings • Jul 28
Full year 2021 earnings released: EPS ₹47.63 (vs ₹22.19 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹4.00b (up 25% from FY 2020). Net income: ₹649.0m (up 115% from FY 2020). Profit margin: 16% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₹772, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 409% over the past three years. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 19% share price gain to ₹640, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 25x in the Machinery industry in India. Total returns to shareholders of 327% over the past three years. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS ₹47.63 (vs ₹22.19 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹4.05b (up 27% from FY 2020). Net income: ₹649.0m (up 115% from FY 2020). Profit margin: 16% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 16% share price gain to ₹511, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improved over the past week After last week's 18% share price gain to ₹450, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 248% over the past three years. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹13.49 (vs ₹5.68 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹1.08b (up 29% from 3Q 2020). Net income: ₹183.7m (up 137% from 3Q 2020). Profit margin: 17% (up from 9.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 24% share price gain to ₹334, the stock is trading at a trailing P/E ratio of 11.2x, up from the previous P/E ratio of 9x. This compares to an average P/E of 21x in the Machinery industry in India. Total returns to shareholders over the past three years are 92%. Announcement • Feb 01
Pix Transmissions Limited to Report Q3, 2021 Results on Feb 12, 2021 Pix Transmissions Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Jan 28
New 90-day high: ₹274 The company is up 92% from its price of ₹143 on 30 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: ₹249 The company is up 88% from its price of ₹132 on 01 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 19% share price gain to ₹249, the stock is trading at a trailing P/E ratio of 8.3x, up from the previous P/E ratio of 7x. This compares to an average P/E of 24x in the Machinery industry in India. Total returns to shareholders over the past three years are 45%. Is New 90 Day High Low • Dec 04
New 90-day high: ₹238 The company is up 82% from its price of ₹131 on 04 September 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. 
