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Pix Transmissions Limited (PIXTRANS) Fair Value & Analysis

Industrials · IN · Market cap ₹24.7B

PT Pix Transmissions Limited PIXTRANS · NSE
Price₹1,939
Fair Value₹1,519
Upside-21.7%
Quality65/100
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Mixed Growth
Solidly profitable · 18.3% net margin
Low debt · generates free cash flow
0.49% dividend yield
Ranks above peers (9/14)
Wide moat 71/100
Evidence: High Range ₹1,036 – ₹1,990 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +7.8% over the past month.

A solid business, but screening 22% overvalued on our models.

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What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹1,036 to ₹1,990) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

₹2,685 ₹696.59 Fair Value ₹1,519 Apr 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

52‑month range ₹696.59 – ₹2,685 · fair‑value band ₹1,036 – ₹1,990 · the ₹1,939 price screens above the ₹1,519 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Pix Transmissions Limited (PIXTRANS) currently trades at ₹1,939, while our model-based Fair Value estimate is ₹1,519, implying the stock looks roughly 21.7% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Pix Transmissions Limited generated revenue of ₹5.8B at a net margin of 18.3%. Revenue grew 0.8% year over year. It earns a return on equity of 16.5%. The balance sheet holds a net cash position of ₹838M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹1,036 (bear case) to ₹1,990 (bull case); at ₹1,939, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -67% fair-value upside, at -22%, PIXTRANS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹1,330 ₹2,002 ₹2,989 80
Residual Income ₹522.07 ₹705.47 ₹2,255 76
Rev-Margin DCF ₹833.93 ₹1,217 ₹1,677 74
All 26 models by family
DCF Models
FCF DCF ₹1,317 ₹2,093 ₹3,321 38
Owner Earnings ₹972.16 ₹1,535 ₹2,424 31
5Y Revenue Exit ₹833.93 ₹1,207 ₹1,674 39
5Y EBITDA Exit ₹1,177 ₹1,866 ₹2,679 41
5Y P/E Exit ₹1,224 ₹1,956 ₹2,738 38
10Y Revenue Exit ₹977.13 ₹1,366 ₹1,882 36
10Y EBITDA Exit ₹1,215 ₹1,831 ₹2,668 37
10Y P/E Exit ₹1,245 ₹1,894 ₹2,714 35
Earnings-Based
Graham-Dodd ₹533.45 ₹1,876 ₹2,524 54
Lynch FV ₹438.21 ₹626.02 ₹813.82 50
PEG = 1.0 ₹438.21 ₹626.02 ₹813.82 46
EPV ₹772.50 ₹890.24 ₹993.27 59
Dividend Discount
Gordon GGM ₹82.38 ₹171.29 ₹271.74 70
DDM Multi-Stage ₹82.38 ₹144.32 ₹179.78 61
Multiples
P/E Multiple ₹1,236 ₹1,647 ₹2,059 63
P/S Multiple ₹641.07 ₹854.76 ₹1,068 58
P/B Multiple ₹1,000 ₹1,334 ₹1,667 55
EV/EBIT ₹1,360 ₹1,791 ₹2,223 53
EV/EBITDA ₹1,223 ₹1,609 ₹1,994 54
EV/Revenue ₹604.54 ₹835.32 ₹1,066 43
Asset-Based
NCAV (Graham) ₹255.66 ₹342.58 ₹511.32 50
Growth DCF
Growth DCF ₹1,330 ₹2,002 ₹2,989 80
Rev-Margin DCF ₹833.93 ₹1,217 ₹1,677 74
Economic Profit
Residual Income ₹522.07 ₹705.47 ₹2,255 76
ROIC Compounder ₹829.97 ₹1,054 ₹1,329 72
Growth Earnings
Growth-Adj P/E ₹1,068 ₹1,525 ₹1,983 68

Widest divergence: DCF Models (₹1,831) versus Dividend Discount (₹144.32). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹5.8B
Revenue growth (YoY) +0.8%
Net margin 18.3%
Return on equity 16.5%
Free cash flow ₹1.5B FY2026
P/E ratio 24.7
More key figures
Operating margin 23.5%
EPS (TTM) ₹78.53
Dividend yield 0.5%
EPS growth (YoY) -10.7%
Net cash ₹838M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 67 · Market factors (momentum, volatility) 83

Profitability 63
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PIX Transmissions Limited, together with its subsidiaries, manufactures and sells belts and related mechanical power transmissions products in India and internationally.

Full company description

PIX Transmissions Limited, together with its subsidiaries, manufactures and sells belts and related mechanical power transmissions products in India and internationally. The company offers ribbed/poly-V, timing/synchronous, banded, automotive, industrial, special, agriculture, lawn and garden, and V-belts; and PowerWare products, such as dual duty V-pulleys, couplings, bespokes, and tensioners and idler pulleys, as well as auto aftermarket products. It also provides accessories, including service kits, pulley gauges, laser-guided pulley alignment tools, belt length measurers, digital tension meters, analog tension testers, poly-V belt wear gauges, timing belt wear gauges, belts profile gauges, and X'slit belt cutting tools; and trades in rubber industrial products. The company's products are used in industrial, automotive, agriculture, lawn and garden, ceramic, cold storage, food processing, domestic appliance, cement, leisure and sport, machine tools, mineral ore mining, oil and gas, packaging, paper and pulp, pharmaceutical, power plant, recycling, rice/flour mills, steel, textile, forestry and wood working, and building and construction industries. PIX Transmissions Limited was incorporated in 1981 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Pix Transmissions Limited reported revenue of ₹5.8B in FY2026 versus ₹4.5B in FY2022, a compound +6.8%/yr. Reported net income was ₹1.1B in FY2026, compounding +11.6%/yr from FY2022.

Growth Quality 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹5.8B
Latest YoY
−4.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.0%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.8%
Revenue +6.8%/yr
FY22 ₹4.5B
FY23 ₹4.8B
FY24 ₹4.9B
FY25 ₹6.1B
FY26 ₹5.8B
Net income +11.6%/yr
FY22 ₹688M
FY23 ₹648M
FY24 ₹830M
FY25 ₹1.1B
FY26 ₹1.1B
Character of growth · EPS growth decomposed (2015-2026) +30.9 % p.a.
Revenue per share +10.1 pp

of which total revenue +10.1 pp · buybacks/dilution +0.0 pp

EBIT margin +14.1 pp
Tax rate +1.4 pp
Residual (interest, one-offs) +5.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

PIXTRANS screens 22% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Pix Transmissions Limited Fair Value". https://www.fairvalue-calculator.com/stock/PIXTRANS

Peer Group

Specialty Industrial Machinery · 805 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 17% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 24.7× · Cheaper than median
P/B 3.54× · Pricier than median
P/S (TTM) 4.23× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 15.5× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 4 · sector 0
FUTURE 4 · sector 22
PAST 66 · sector 28
HEALTH 99 · sector 95
DIVIDEND 10 · sector 27

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €899.80 €186.93 -79%
1SIE 1SIE €281.75 €91.93 -67%
SMNS SMNS C$31.76 C$22.75 -28%
Atlas Copco AB ATCOA kr 210.00 kr 112.59 -46%
Sandvik AB SAND kr 358.60 kr 193.01 -46%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥39.17 ¥22.68 -42%
ABB India Limited ABB ₹7,645 ₹1,322 -83%
Cummins India Limited CUMMINSIND ₹5,315 ₹1,355 -75%
Bharat Heavy Electricals Limited BHEL ₹421.70 ₹96.51 -77%
Siemens Limited SIEMENS ₹4,019 ₹746.83 -81%

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Frequently asked questions

Is Pix Transmissions Limited (PIXTRANS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹1,519 versus a price of ₹1,939, about −22% (overvalued).
What is the fair value of PIXTRANS?
Our model-based fair value for Pix Transmissions Limited is ₹1,519 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,939.
What is the quality score of PIXTRANS?
Pix Transmissions Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Pix Transmissions Limited (PIXTRANS)?
Pix Transmissions Limited reported trailing-twelve-month revenue of about ₹5.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PIXTRANS?
The net profit margin of Pix Transmissions Limited is about 18.3%, meaning it keeps roughly 18.3% of revenue as net income. Based on the latest reported figures.
Does Pix Transmissions Limited pay a dividend?
Pix Transmissions Limited currently shows a dividend yield of about 0.49% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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