Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Pix Transmission
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 134 | 112 | 124 | 128 | 129 | 130 | 160 | 140 | 163 | 122 | 139 | 151 | 171 |
| Expenses + | 102 | 87 | 93 | 96 | 98 | 95 | 109 | 106 | 129 | 94 | 104 | 108 | 140 |
| Operating Profit | 33 | 25 | 31 | 32 | 31 | 34 | 52 | 34 | 33 | 28 | 34 | 44 | 31 |
| OPM % | 24% | 23% | 25% | 25% | 24% | 27% | 32% | 24% | 21% | 23% | 25% | 29% | 18% |
| Other Income + | 0 | 3 | 4 | 5 | 7 | 9 | 9 | 4 | 4 | 14 | 5 | 9 | 6 |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 5 | 6 | 6 | 6 | 6 |
| Profit before tax | 25 | 22 | 28 | 30 | 31 | 36 | 54 | 31 | 31 | 35 | 32 | 46 | 31 |
| Tax % | 25% | 26% | 26% | 28% | 21% | 24% | 25% | 29% | 26% | 21% | 27% | 23% | 34% |
| Net Profit + | 19 | 16 | 21 | 22 | 24 | 27 | 41 | 22 | 23 | 28 | 24 | 35 | 20 |
| EPS in Rs | 14.02 | 11.62 | 15.19 | 16.17 | 17.93 | 20.15 | 29.75 | 16.33 | 16.62 | 20.45 | 17.28 | 25.88 | 14.84 |
Financials of Pix Transmission
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 212 | 224 | 239 | 253 | 295 | 304 | 380 | 449 | 486 | 493 | 589 | 582 |
| Expenses + | 175 | 186 | 192 | 195 | 236 | 243 | 268 | 334 | 382 | 373 | 426 | 429 |
| Operating Profit | 37 | 38 | 48 | 58 | 59 | 61 | 113 | 115 | 105 | 120 | 163 | 153 |
| OPM % | 17% | 17% | 20% | 23% | 20% | 20% | 30% | 26% | 22% | 24% | 28% | 26% |
| Other Income + | 3 | 3 | 6 | 5 | 7 | 7 | 4 | 8 | 13 | 19 | 17 | 17 |
| Interest | 20 | 19 | 16 | 14 | 12 | 12 | 9 | 8 | 8 | 6 | 4 | 3 |
| Depreciation | 13 | 13 | 13 | 15 | 16 | 19 | 20 | 21 | 23 | 23 | 24 | 23 |
| Profit before tax | 6 | 10 | 24 | 34 | 38 | 37 | 87 | 95 | 87 | 111 | 153 | 144 |
| Tax % | 40% | 33% | 34% | 33% | 25% | 19% | 26% | 27% | 25% | 25% | 26% | 26% |
| Net Profit + | 4 | 7 | 16 | 23 | 29 | 30 | 65 | 69 | 65 | 83 | 113 | 107 |
| EPS in Rs | 2.87 | 4.80 | 11.93 | 16.56 | 20.97 | 22.19 | 47.63 | 50.52 | 47.57 | 60.91 | 82.85 | 78.45 |
| Dividend Payout % | 35% | 31% | 17% | 15% | 13% | 9% | 10% | 12% | 13% | 11% | 11% | 11% |
Financials of Pix Transmission
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | 136 | 138 | 157 | 175 | 200 | 223 | 286 | 351 | 404 | 479 | 582 | 683 |
| Borrowings + | 134 | 125 | 128 | 105 | 113 | 101 | 74 | 118 | 72 | 44 | 35 | 24 |
| Other Liabilities + | 45 | 53 | 56 | 59 | 57 | 63 | 66 | 72 | 88 | 100 | 99 | 109 |
| Total Liabilities | 329 | 330 | 355 | 353 | 385 | 400 | 440 | 555 | 579 | 637 | 730 | 830 |
| Fixed Assets + | 167 | 173 | 174 | 187 | 199 | 219 | 226 | 259 | 273 | 276 | 267 | 269 |
| CWIP | 0 | 6 | 5 | 0 | 10 | 0 | 0 | 0 | 1 | 2 | 2 | 3 |
| Investments | 13 | 14 | 23 | 11 | 8 | 7 | 4 | 5 | 5 | 75 | 128 | 200 |
| Other Assets + | 149 | 137 | 153 | 155 | 168 | 174 | 209 | 291 | 299 | 284 | 334 | 358 |
| Total Assets | 329 | 330 | 355 | 353 | 385 | 400 | 440 | 555 | 579 | 637 | 730 | 830 |
Financials of Pix Transmission
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 32 | 64 | 27 | 31 | 47 | 52 | 58 | 55 | 112 | 137 | 108 | 171 |
| 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 | -43 | 31 | -69 | -46 | -27 | -33 |
| Net Cash Flow | -4 | 8 | -1 | -7 | 3 | 5 | -2 | 14 | 21 | 3 | 3 | 49 |
| Free Cash Flow | 1 | 39 | 29 | 8 | 9 | 22 | 36 | -15 | 88 | 111 | 89 | 148 |
| CFO/OP | 86% | 168% | 68% | 71% | 102% | 101% | 72% | 68% | 129% | 135% | 91% | 135% |
Financials of Pix Transmission
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 86 | 93 | 94 | 84 | 81 | 78 | 78 | 79 | 81 | 75 | 85 |
| Inventory Days | 282 | 178 | 246 | 284 | 238 | 255 | 262 | 264 | 207 | 196 | 214 | 182 |
| Days Payable | 72 | 85 | 111 | 92 | 65 | 75 | 81 | 58 | 47 | 62 | 49 | 47 |
| Cash Conversion Cycle | 294 | 179 | 228 | 285 | 257 | 260 | 259 | 284 | 240 | 215 | 240 | 220 |
| Working Capital Days | 20 | -8 | 10 | 51 | 56 | 56 | 103 | 108 | 119 | 112 | 116 | 228 |
| ROCE % | 10% | 10% | 14% | 16% | 16% | 15% | 27% | 24% | 19% | 23% | 27% | 22% |
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