PIXTRANS
Pix Transmissions share price & financials
- Price
- ₹1,640.6
- Market cap
- ₹2.4k Cr
- Sector
- Capital Goods
What Pix Transmissions Limited does
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
Quarterly results
Q1 FY27: revenue up 22.1%, net profit up 89.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 160 | 140 | 163 | 122 | 139 −13% | 151 +8% | 171 +5% | 149 +22% |
| EBITDA | 52 | 34 | 33 | 28 | 34 −35% | 44 +29% | 31 −6% | 46 +64% |
| Net profit | 41 | 22 | 23 | 28 | 24 −41% | 35 +59% | 20 −13% | 53 +89% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +19.8% 1Y
1Y: ₹1,437.5 on 10 Sept 2025 → ₹1,722.1. High ₹1,986.5 (10 Aug 2026), low ₹1,268.8 (20 Jan 2026).
Financials, as filed
Revenue grew 6.9% a year over 3 years, FY23 to FY26. Operating margin widened to 23.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹477 Cr | ₹493 Cr | ₹593 Cr | ₹583 Cr |
| Operating profit | ₹101 Cr | ₹119 Cr | ₹153 Cr | ₹137 Cr |
| Operating margin | 21.2% | 24.1% | 25.8% | 23.5% |
| Interest | ₹8 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Depreciation | ₹24 Cr | ₹24 Cr | ₹23 Cr | ₹24 Cr |
| Net profit | ₹63 Cr | ₹83 Cr | ₹113 Cr | ₹107 Cr |
| Net margin | 13.2% | 16.8% | 19.1% | 18.4% |
| Cash from operations | ₹112 Cr | ₹137 Cr | ₹108 Cr | ₹171 Cr |
| Free cash flow | ₹88 Cr | ₹111 Cr | ₹89 Cr | ₹148 Cr |
| ROCE | 19.0% | 23.0% | 27.0% | 22.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹286 Cr | ₹351 Cr | ₹404 Cr | ₹479 Cr | ₹624 Cr | ₹683 Cr |
| Borrowings | ₹74 Cr | ₹118 Cr | ₹72 Cr | ₹44 Cr | ₹30 Cr | ₹24 Cr |
| Other liabilities | ₹66 Cr | ₹72 Cr | ₹88 Cr | ₹100 Cr | ₹104 Cr | ₹109 Cr |
| Total liabilities | ₹440 Cr | ₹555 Cr | ₹579 Cr | ₹637 Cr | ₹772 Cr | ₹830 Cr |
| Fixed assets | ₹226 Cr | ₹259 Cr | ₹273 Cr | ₹276 Cr | ₹266 Cr | ₹269 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹8 Cr | ₹3 Cr |
| Investments | ₹4 Cr | ₹5 Cr | ₹5 Cr | ₹75 Cr | ₹166 Cr | ₹200 Cr |
| Other assets | ₹209 Cr | ₹291 Cr | ₹299 Cr | ₹284 Cr | ₹331 Cr | ₹358 Cr |
| Total assets | ₹440 Cr | ₹555 Cr | ₹579 Cr | ₹637 Cr | ₹772 Cr | ₹830 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +2.14 pp while the public trimmed −1.94 pp. The shareholder count shrank 13% to 27,767.
- Promoters
- 62.1%
- FIIs
- 0.6%
- DIIs
- 2.7%
- Public
- 34.6%
Since Jun 2025
- DIIs +2.14 pp
- Public −1.94 pp
- FIIs −0.42 pp
How it drifted, 12 quarters
Over this window DIIs fell from 3.7% to 2.7% — −1.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.8%, FIIs 0.2%, DIIs 3.7%, Public 34.2%.Dec '23: Promoters 61.8%, FIIs 0.2%, DIIs 5.2%, Public 32.7%.Mar '24: Promoters 61.8%, FIIs 0.3%, DIIs 5.2%, Public 32.7%.Jun '24: Promoters 61.8%, FIIs 0.3%, DIIs 5.2%, Public 32.6%.Sep '24: Promoters 61.8%, FIIs 0.3%, DIIs 0.2%, Public 37.7%.Dec '24: Promoters 61.8%, FIIs 0.9%, DIIs 0.8%, Public 36.5%.Mar '25: Promoters 61.8%, FIIs 0.8%, DIIs 0.6%, Public 36.8%.Jun '25: Promoters 61.8%, FIIs 1.0%, DIIs 0.6%, Public 36.6%.Sep '25: Promoters 61.8%, FIIs 0.9%, DIIs 0.7%, Public 36.6%.Dec '25: Promoters 62.1%, FIIs 1.0%, DIIs 1.6%, Public 35.4%.Mar '26: Promoters 62.1%, FIIs 0.4%, DIIs 2.5%, Public 35.0%.Jun '26: Promoters 62.1%, FIIs 0.6%, DIIs 2.7%, Public 34.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Iepf newly disclosed 3.46% held
- New Mark Capital AIF LLP AIF +0.12 pp 1.13% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Pix Transmissions Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sonepal Singh Sethi | 11.16% | unchanged |
| Singh Rishipal Sethi | 8.64% | unchanged |
| Amarpal Sethi | 7.58% | unchanged |
| Karanpal Sethi | 7.13% | unchanged |
| Nirmal Sethi | 7.09% | unchanged |
| Sukhpal Singh Sethi | 6.36% | unchanged |
| Inderjeet Sethi | 6.31% | unchanged |
| Davinder Sethi | 4.99% | unchanged |
| Iepf | 3.46% | newly disclosed |
| Kamalpreet Sethi | 1.68% | unchanged |
| Shirley Paul | 1.40% | unchanged |
| New Mark Capital AIF LLP AIF | 1.13% | +0.12 pp |
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.
What the price assumes
AttractiveTo justify its price of ₹1722, this stock must grow earnings at 16% every year for 7 years. Our analysis caps realistic growth at ~20%. At that growth it is worth ₹2090 — upside of 21%.
- Growth the price implies
- 15.9% 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
- 21% downside if it only repeats history
Learn to analyse Pix Transmissions Limited
Guides on how to read this kind of business and the numbers that matter.