MarketFriction

Pix Transmission Ltd

NSE PIXTRANS · BSE 500333 · Rubber
₹1,809.30 +4.77%
NSE close2026-10-01
52 week range1,252.00 - 2,089.00
Market cap₹2,356 Cr.
P/E17.9
Price band 20% Delivery 4.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales124128129130160140163122139151171149
Expenses9396989510910612994104108140104
Operating Profit313231345234332834443146
OPM %25%25%24%27%32%24%21%23%25%29%18%31%
Other Income45799441459627
Interest111111111111
Depreciation666666566666
Profit before tax283031365431313532463167
Tax %26%28%21%24%25%29%26%21%27%23%34%21%
Net Profit212224274122232824352053
EPS in Rs15.1916.1717.9320.1529.7516.3316.6220.4517.2825.8814.8438.72
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales224239253295304380449486493593582610
Expenses186192195236243268334382373426428456
Operating Profit3848585961113115105120167154154
OPM %17%20%23%20%20%30%26%22%24%28%26%25%
Other Income36577481319131748
Interest19161412129886443
Depreciation131315161920212323242323
Profit before tax1024343837879587111153144176
Tax %33%34%33%25%19%26%27%25%25%26%26%
Net Profit71623293065696583113107132
EPS in Rs4.8011.9316.5620.9722.1947.6350.5247.5760.9182.8578.4596.72
Dividend Payout %31%17%15%13%9%10%12%13%11%11%11%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%9%6%4%
Compounded Profit Growth32%10%18%16%
Stock Price CAGR42%17%13%20%
Return on Equity18%18%18%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital141414141414141414141414
Reserves136138157175200223286351404479582683
Borrowings1341251281051131017411872443524
Other Liabilities45535659576366728810099109
Total Liabilities329330355353385400440555579637730830
Fixed Assets167173174187199219226259273276267269
CWIP0650100001223
Investments131423118745575128200
Other Assets149137153155168174209291299284334358
Total Assets329330355353385400440555579637730830
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3264273147525855112137108171
Cash from Investing Activity-29-26-15-14-34-28-16-72-22-88-78-89
Cash from Financing Activity-6-30-13-25-10-19-4331-69-46-27-33
Net Cash Flow-48-1-735-214213349
Free Cash Flow13929892236-158811189148
CFO/OP86%168%68%71%102%101%72%68%129%135%89%134%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days848693948481787879817585
Inventory Days282178246284238255262264207196214189
Days Payable7285111926575815847624948
Cash Conversion Cycle294179228285257260259284240215240225
Working Capital Days20-810515656103108119112115103
ROCE %10%10%14%16%16%15%27%24%19%23%27%22%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters61.82%61.82%61.82%61.82%61.82%61.82%61.82%61.82%61.82%62.06%62.06%62.06%
FIIs0.23%0.24%0.27%0.33%0.26%0.92%0.80%1.03%0.94%0.98%0.41%0.61%
DIIs3.71%5.23%5.23%5.23%0.22%0.76%0.57%0.56%0.67%1.55%2.51%2.70%
Public34.24%32.71%32.69%32.62%37.71%36.50%36.79%36.58%36.57%35.41%35.02%34.64%
No. of Shareholders24,34523,63523,59823,34027,77035,73936,51032,00931,15629,42328,24427,767

Fundamentals

Market Cap₹ 2,356 Cr.
Current Price₹ 1,728
Stock P/E17.9
Book Value₹ 511
ROCE21.7 %
ROE16.4 %
Dividend Yield0.52 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)16%
Consolidated figures.
Valuation
Market capRs 2,465 Cr
Enterprise valueRs 2,381 Cr
P/E (TTM)18.71x
Price to book3.54x
Price to sales4.04x
EV / EBITDA11.80x
EV / EBIT13.34x
EV / sales3.90x
Price to cash flow14.41x
Earnings yield5.35%
Dividend yield0.50%
P/E, 3-year average19.99x
P/B, 3-year average3.41x
P/E, 5-year average18.56x
P/B, 5-year average3.18x
Profitability
Operating margin (excl. other income)26.43%
Operating margin (incl. other income)29.40%
EBITDA margin33.09%
Pre-tax margin28.77%
Net profit margin21.60%
Net margin, latest quarter35.34%
ROE16.54%
ROCE21.86%
ROA13.70%
ROE, 3-year average18.50%
ROCE, 3-year average23.79%
ROA, 3-year average14.62%
ROE, 5-year average18.56%
ROCE, 5-year average22.97%
ROA, 5-year average13.83%
ROIC (approx.)21.60%
Tax rate25.82%
Other income / net worth2.48%
Growth
Sales growth (latest year)-1.87%
Profit growth (latest year)-5.31%
Sales CAGR, 3 years6.19%
Sales CAGR, 5 years8.90%
Profit CAGR, 3 years18.14%
Profit CAGR, 5 years10.49%
Sales growth QoQ-12.60%
Profit growth QoQ160.88%
Sales growth YoY (latest quarter)22.80%
Profit growth YoY (latest quarter)89.34%
Per share
EPS (TTM)Rs 96.71
EPS (latest year)Rs 78.45
EPS (latest quarter)Rs 38.72
EPS, 3-year averageRs 74.07
EPS, 5-year averageRs 64.06
Book value per shareRs 511.32
Sales per shareRs 447.72
Cash flow per shareRs 125.56
Free cash flow per shareRs 108.62
Dividend per share (latest year)Rs 9.00
Dividend per share, 3-year averageRs 8.33
Dividend per share, 5-year averageRs 7.40
Dividends
Dividend payout11.47%
Dividend payout, 3-year average11.27%
Dividend payout, 5-year average11.66%
Efficiency
Asset turnover0.70x
Fixed asset turnover2.17x
Inventory turnover2.63x
Inventory days139 days
Debtor days85 days
Debtors turnover4.31x
Creditor days48 days
Cash conversion cycle225 days
Working capital days103 days
Leverage
Total debtRs 24 Cr
Cash and bankRs 108 Cr
Net debtRs -84 Cr
Debt to equity0.03x
Net debt / EBITDA-0.42x
Interest coverage60.50x
Current ratio (filing 2026-03-31)6.86x
Quick ratio (filing 2026-03-31)5.59x
Trade payables (filing 2026-03-31)Rs 26 Cr
Owners' fund to total sources83.95%
Debt to assets2.92%
Cash flow
Cash from Operating Activity (latest year)Rs 171 Cr
Cash from Investing Activity (latest year)Rs -89 Cr
Cash from Financing Activity (latest year)Rs -33 Cr
Net Cash Flow (latest year)Rs 49 Cr
Free cash flow (latest year)Rs 148 Cr
FCFE (approx.: FCF + change in debt)Rs 137 Cr
Cash from ops / profit, 5 years1.33x
Sales to cash flow3.40x
Statement figures
Net sales (TTM)Rs 610 Cr
Net sales (latest year)Rs 582 Cr
Sales (latest quarter)Rs 149 Cr
Operating profit excl. other income (latest year)Rs 154 Cr
Operating profit (latest quarter)Rs 46 Cr
Other income (TTM)Rs 48 Cr
EBITDA (TTM)Rs 202 Cr
PBDT (TTM)Rs 199 Cr
Profit before tax (TTM)Rs 176 Cr
Tax (latest year)Rs 37 Cr
Net profit (TTM)Rs 132 Cr
Net profit (latest year)Rs 107 Cr
Net profit (latest quarter)Rs 53 Cr
Depreciation (TTM)Rs 23 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 268 Cr
Total expenditure (latest year)Rs 428 Cr
Total income (latest year)Rs 600 Cr
Share capitalRs 14 Cr
ReservesRs 683 Cr
Shareholders' fundsRs 697 Cr
Total assetsRs 830 Cr
Net blockRs 269 Cr
Capital work in progressRs 3 Cr
InvestmentsRs 200 Cr
ReceivablesRs 135 Cr
InventoryRs 102 Cr
Other liabilitiesRs 109 Cr
Shares outstanding (crore)1.36
Ownership
Promoter holding62.06% (+0.24 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 18.7 is at the 68th percentile of its own 9.4-year range (median 16.6, low 4.0, high 41.8).
P/B 3.54 is at the 65th percentile (median 3.15).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPIXTRANSNifty 50Difference
1 week+3.6%-2.8% +6.4 pts
1 month+1.4%-6.8% +8.1 pts
3 months-0.1%-7.6% +7.5 pts
6 months+25.6%+0.4% +25.2 pts
1 year+25.0%-9.9% +34.9 pts
2 years+13.7%-13.6% +27.2 pts
3 years+52.0%+14.2% +37.8 pts
5 years+120.1%+27.9% +92.2 pts
1 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal BSE 1000 Index Fund0.00%0

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹149 Cr +22.1% vs Jun 2025. Net profit ₹53 Cr +89.3%.

Activity

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DateClientSideQtyPrice
2026-10-01Nk Securities Research Private LimitedSELL97,7671,845.71
2026-10-01Nk Securities Research Private LimitedBUY97,7671,844.21
Ex-dateActionFactor
2026-07-14Dividend - Rs 9 Per Share
2025-07-18Dividend - Rs 9 Per Share
2024-07-16Dividend - Rs 7 Per Sh
2024-07-16Annual General Meeting
2023-07-11Annual General Meeting/Dividend - Rs 6 Per Share
2022-07-11Annual General Meeting/Dividend - Rs 6 Per Share
DateTypeWhat it says
2026-08-07Board meeting outcomePix Transmissions Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22Shareholder meetingProceedings of undefined held on July 22, 2026
2026-06-30Record DateRecord date for the purpose of Dividend & Meeting is 14-Jul-2026.
2026-06-30Shareholder meetingNotice of Annual General Meeting to be held on July 22, 2026
2026-06-03Disclosure under SEBI TakeovPix Transmissions Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-05-22Board meeting outcomePix Transmissions Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-10Disclosure under SEBI TakeovPix Transmissions Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-04-10Disclosure under SEBI TakeovPix Transmissions Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-04-01Shareholder meetingVoting results of Postal Ballot
2026-03-25Reply to Clarification- FinaThe Exchange had sought clarification from Pix Transmissions Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SEBI (List...
2026-03-12Clarification - Financial ReThe Exchange has sought clarification from Pix Transmissions Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SEBI (List...
2026-03-05Credit RatingCredit Rating
2026-02-25Shareholder meetingNotice of Postal Ballot
2026-02-13Change in ManagementChange in Management
2026-02-13Board meeting outcomePix Transmissions Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-13Board meeting outcomeOutcome of Board Meeting held on February 13, 2026.
2025-11-14Board meeting outcomePix Transmissions Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-11-01AppointmentAppointment of Mr. Shekhar Jogwar as Other of the company w.e.f. November 01, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03