Pitti Engineering Limited (PEL) finalized an agreement with Dakshin Foundry (DFPL) to acquire the entire equity share capital of DFPL for ₹153.12 crore. The acquisition aligns well with the business strategies of PEL and its subsidiaries.
With the acquisition, DFPL will enhance its production capacity and operational capabilities. DFPL operates two manufacturing plants located in Hosakote, Bangalore, with a combined installed capacity of 4,200 tons per annum (tpa). The move supports PEL’s strategy for inorganic growth, and the company aims to finalize the acquisition within fifteen days of signing the agreement.
DFPL specializes in producing high-quality castings in ductile iron, grey iron, low carbon, and alloy steel grades. Pitti Engineering manufactures a diverse range of products including electrical steel laminations, motor cores, sub-assemblies, die rotors, and press tools.
As reported by projectstoday.com, PEL’s rotating electrical equipment and machined components cater to sectors such as renewable energy, power generation, and data centres.
