Pix Transmissions share price & results
- Jun 2026
- Sept 2026
Nagpur-based manufacturer of rubber power-transmission belts for industrial, automotive and agricultural use.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 149 | +22.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 31.0 | +8.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 53.0 | +89.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 20.42 | −4.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 25.43 | +10.4 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 4.27 | −22.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +14.5% 1Y
1Y: ₹1,454.2 on 24 Oct 2025 → ₹1,664.7. High ₹1,986.5 (10 Aug 2026), low ₹1,268.8 (20 Jan 2026).
- Previous close
- ₹1,648.7
- Market cap
- ₹2.2k Cr
- 52-week range
- ₹1,268.8 – ₹1,986.5
- One year
- +14.88%
- Price to earnings (TTM to Jun 2026)
- 17.02×
- Return on equity (TTM to Jun 2026)
- 20.42%
Overview
- Symbol
- NSE:PIXTRANS
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Pix Transmissions Limited does
Based on the company's own presentations, annual report and earnings calls.
Pix Transmissions Limited manufactures rubber power-transmission belts and allied products - including industrial, agricultural, automotive and lawn-mower belts, plus pulleys and bushes - sold to OEMs and the replacement market. Manufacturing is carried out at dedicated plants for wrap belts and for timing, raw-edge-cogged and poly-V belts, along with a separate mechanical (MEC) plant, all clustered in the MIDC Hingna industrial area of Nagpur, backed by an on-site logistics hub. The company sells internationally through wholly owned overseas subsidiaries in the UAE, UK and Germany and is classified as a net foreign-exchange earner. Its facilities operate under ISO 9001, IATF 16949, ISO 14001 and ISO 45001 certifications.
- Manufacturing plants
- 3 dedicated plants in Nagpur - Wrap Belt plant, Timing/Raw Edge Cogged/Poly-V Belt plant, and MEC plant
- Logistics hub
- Dedicated Pix Logistics Hub in Nagpur (MIDC, Hingna)
- Overseas subsidiaries
- 4 group entities across UAE, UK and Germany (PIX Middle East FZC, PIX Middle East Trading LLC, PIX Transmissions Europe, PIX Germany GmbH)
- Product categories
- 6 - industrial belts, agricultural belts, automotive belts, lawn mower belts, pulleys & bushes, accessory kits
- Quality/systems certifications
- ISO 9001:2015, IATF 16949:2016, ISO 14001:2015, ISO 45001:2018
- Export presence
- Classified as a net foreign exchange earner, selling through international subsidiaries
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +89% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 160 | 140 | 163 | 122 | 139 | 151 | 171 | 149 |
| Expenses | 109 | 106 | 129 | 94 | 104 | 108 | 140 | 104 |
| Operating profit | 52 | 34 | 33 | 28 | 34 | 44 | 31 | 46 |
| Operating margin | 32.0% | 24.0% | 21.0% | 23.0% | 25.0% | 29.0% | 18.0% | 31.0% |
| Other income | 9 | 4 | 4 | 14 | 5 | 9 | 6 | 27 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 6 | 6 | 5 | 6 | 6 | 6 | 6 | 6 |
| Profit before tax | 54 | 31 | 31 | 35 | 32 | 46 | 31 | 67 |
| Tax rate | 25.0% | 29.0% | 26.0% | 21.0% | 27.0% | 23.0% | 34.0% | 21.0% |
| Net profit | 41 | 22 | 23 | 28 | 24 | 35 | 20 | 53 |
| EPS (₹ per share) | 29.75 | 16.33 | 16.62 | 20.45 | 17.28 | 25.88 | 14.84 | 38.72 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 477 | 493 | 593 | 583 |
| Expenses | 377 | 374 | 439 | 446 |
| Operating profit | 101 | 119 | 153 | 137 |
| Other income | 13 | 19 | 26 | 34 |
| Interest | 8 | 4 | 4 | 4 |
| Depreciation | 24 | 24 | 23 | 24 |
| Profit before tax | 83 | 111 | 152 | 144 |
| Net profit | 63 | 83 | 113 | 107 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | 351 | 404 | 479 | 582 | 624 | 683 |
| Borrowings | 118 | 72 | 44 | 35 | 30 | 24 |
| Other liabilities | 72 | 88 | 100 | 99 | 104 | 109 |
| Total liabilities | 555 | 579 | 637 | 730 | 772 | 830 |
| Fixed assets | 259 | 273 | 276 | 267 | 266 | 269 |
| Capital work in progress | 0 | 1 | 2 | 2 | 8 | 3 |
| Investments | 5 | 5 | 75 | 128 | 166 | 200 |
| Other assets | 291 | 299 | 284 | 334 | 331 | 358 |
| Total assets | 555 | 579 | 637 | 730 | 772 | 830 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 58 | 55 | 112 | 137 | 108 | 171 |
| Cash from investing | -16 | -72 | -22 | -88 | -78 | -89 |
| Cash from financing | -43 | 31 | -69 | -46 | -27 | -33 |
| Net cash flow | -2 | 14 | 21 | 3 | 3 | 49 |
| Free cash flow | 36 | -15 | 88 | 111 | 89 | 148 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 78 | 78 | 79 | 81 | 75 | 85 |
| Inventory days | 262 | 264 | 207 | 196 | 214 | 189 |
| Days payable | 81 | 58 | 47 | 62 | 49 | 48 |
| Cash conversion cycle | 259 | 284 | 240 | 215 | 240 | 225 |
| Working capital days | 103 | 108 | 119 | 112 | 115 | 103 |
| Return on capital employed | 27.0% | 24.0% | 19.0% | 23.0% | 27.0% | 22.0% |
| Dividend payout | 10.0% | 12.0% | 13.0% | 11.0% | 11.0% | 11.0% |
What the price assumes
AttractiveTo justify its price of ₹1665, this stock must grow earnings at 15% every year for 7 years. Our analysis caps realistic growth at ~20%. At that growth it is worth ₹2090 — upside of 26%.
- Growth the price implies
- 15.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 19.3% a year
- net profit, FY23–FY26 · EPS 19.7%
- The gap
- -0.0 pp
- 26% downside if it only repeats history
Ownership
Who owns it
Promoters hold 62.06% as of Sept 2026; institutions added 0.07 pts since Jun 2026.
- Promoters 62.06%
- Foreign institutions 0.61%
- Domestic institutions 2.77%
- Public 34.57%
Who is on the register
Named in the Sep 2026 filing
Every holder of Pix Transmissions Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 11.16% | unchanged | |
| 8.64% | unchanged | |
| 7.58% | unchanged | |
| 7.13% | unchanged | |
| 7.09% | unchanged | |
| 6.36% | unchanged | |
| 6.31% | unchanged | |
| 4.99% | unchanged | |
| 3.43% | unchanged | |
| 1.68% | unchanged | |
| 1.40% | unchanged | |
| AIF | 1.16% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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