loader2
Login Open ICICI 3-in-1 Account
Open ICICI 3-in-1 Account

Sterling Tools Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
Sterling Tools Ltd. 14 May 2025 13:58 PM
Result PDF

Q4FY25 & FY25 Result Announced for Sterling Tools Ltd.

Auto Parts & Equipment company Sterling Tools announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total income grew by 6.2% YoY to Rs 651.6 crore in FY25 as against Rs 613.7 crore in FY24
  • EBITDA increased by 4.8% YoY to Rs 94.8 crore as compared to Rs 90.5 crore in FY24
  • EBITDA margin stood at 14.5% in FY25
  • Profit after tax witnessed a growth of 10.5% YoY to Rs 42.9 crore in FY25 as compared to Rs 38.8 crore in FY24
  • Profit after tax margin stood at 6.6% in FY25 as against 6.3% in FY24

FY25 Financial Highlights:

  • Total income grew by 10.6% YoY to Rs 1,038.0 crore in FY25 as against Rs 938.5 crore in FY24
  • Adjusted EBITDA (excluding ESOP expenses) increased by 13.8% YoY to Rs 132.4 crore in FY25 compared to Rs 116.3 crore in FY24
  • Adjusted EBITDA margin stood at 12.8% in FY25 as compared to 12.4% in FY24
  • Profit after tax witnessed a growth of 5.3% YoY to Rs 58.3 crore in FY25 compared to Rs 55.4 crore in FY24
  • Profit after tax margin stood at 5.6% in FY25

Commenting on the Q4 & FY25 performance, Atul Aggarwal, Managing Director of Sterling Tools stated: “In FY25, our consolidated total income increased by 10.6% YoY to Rs 1,038.0 crore, driven by strong growth in our subsidiary SGEM and a stable performance in the standalone business, which recorded 6.2% YoY revenue growth and 10.5% YoY PAT growth. Adjusted EBITDA on a consolidated basis rose by 13.8% YoY to Rs 132.4 crore, with margins expanding to 12.8%. We are delighted to achieve this Rs 1,000 crore landmark and look forward to meeting greater milestones in the years to come.

Despite the strong full-year performance, our Q4 performance was impacted by a decline in our subsidiary SGEM’s revenue, following Ola’s transition to in-house production for its Gen3 models. The Company has redoubled its ongoing efforts on product and customer diversification

SGEM announced the signing of a Technology Licensing Agreement for the development and manufacturing of rare earth/permanent magnet free Motors in India. Through the introduction of a mature and commercially viable rare earth magnet-free technology, SGEM will secure the first mover advantage in this crucial emerging segment. The Licensing Agreement will enable SGEM to offer its customers an alternative to the China dependent permanent magnet supply chain. The business plan also calls for the joint development of integrated motor and controller solutions.

Agreements on the introduction of other Power Electronics products are in the pipeline and, at least one, will be announced in the near future.

The Company continues to also work on 2W, 3W and Commercial Vehicle customers to expand sales of its Motor Control Units.

Through our subsidiary STML, we plan to begin production of HVDC Contactors and Relays by the end of Q2 FY26, in partnership with Kunshan GLVAC Yuantong New Energy Technology Co. Ltd. We are also in advanced discussions to establish a joint venture with MotiveLink Co. Ltd. (Erstwhile Yongin Electronics) to manufacture magnetic components in India. These initiatives are expected to drive future growth.

Looking ahead, the standalone business is expected to continue its stable growth trajectory, maintaining high single-digit growth.

Collectively, these strategic moves will enhance our EV product portfolio, promote import substitution, and align with the Government of India’s Atmanirbhar Bharat vision. We remain committed to delivering long-term value through a combination of organic growth and strategic partnerships.”

Result PDF

Result PDF

Auto Parts & Equipment company Sterling Tools announced Q3FY25 results

  • Total income grew by 12.3% YoY to Rs 262.7 crore in Q3FY25 as against Rs 234.0 crore in Q3FY24.
  • Adjusted EBITDA for the quarter increased by 13.0% YoY to Rs 31.7 crore with Adjusted EBITDA margin at 12.1% in Q3FY25.
  • Profit after tax stood at Rs 13.6 crore in Q3FY25.

Atul Aggarwal, Managing Director of Sterling Tools, said: “During 9MFY25, our consolidated total income grew by 24.5% to Rs 832.3 crore on a YoY basis. The topline growth is mainly driven by SGEM which witnessed a revenue uptick of 56% to Rs 345.9 crore in 9MFY25 against corresponding period last year. The company registered an Adjusted EBITDA growth of 25.8% YoY to Rs 105.9 crore in 9MFY25. Our standalone business continues to exhibit steady performance with topline growth of 8.9% YoY in 9MFY25. The growth is attributable to a higher share of business with existing customers as well as addition of new customers.

We have a deep commitment to the EV industry and to localization. We believe there are several unserved product opportunities in the EV space that we can address. With this thought process, we have announced multiple strategic collaborations in last few quarters to address dynamically evolving needs of the EV industry. We have signed a MOU with MOTIVELINK Co., Ltd (Erstwhile Yongin Electronics Co. Ltd) to manufacture entire portfolio of magnetic components required for various applications in India’s EV and electronics manufacturing industry. Furthermore, the company through its subsidiary Sterling Tech-Mobility Limited (STML) has partnered with China’s Kunshan GLVAC Yuantong New Energy Technology Co. Ltd to manufacture HVDC Contactors and Relays in India. Recently, STML has also partnered with Zhejiang Meishuo Electric Technology Co. Ltd., China to locally manufacture Latching Relays for the energy sector, industrial grids, and other applications in India. These associations will drive import substitution and will align with the Atmanirbhar Bharat vision of Government of India and help in building a self-reliant ecosystem for the Electric Vehicles, Hybrid Electric Vehicles, Industrial and White Goods Industries.

Moving ahead, we shall continue with our focus towards exploring new growth frontiers and delivering sustainable performance through both organic as well as strategic initiatives.”

Result PDF

Auto Parts & Equipment company Sterling Tools announced H1FY25 & Q2FY25 results

Standalone Financiial Highlights:

  • Q2FY25:
    • Total income grew by 8.4% YoY to Rs 168.4 crore in Q2FY25 as against Rs 155.4 crore in Q2FY24.
    • EBITDA increased by 11.9% YoY to Rs 25.3 crore as compared to Rs 22.7 crore in Q2FY24.
    • EBITDA margin increased to 15.0% in Q2FY25 as against 14.6% in Q2FY24.
    • Profit after tax witnessed a growth of 19.4% YoY to Rs 11.9 crore in Q2FY25 as compared to Rs 10.0 crore in Q2FY24.
    • Profit after tax margin increased by 70 bps YoY to 7.1% in Q2FY25 as against 6.4% in Q2FY24.
  • H1FY25:
    • Total income grew by 9.0% YoY to Rs 331.3 crore in H1FY25 as against Rs 304.0 crore in H1FY24.
    • EBITDA increased by 13.2% YoY to Rs 49.4 crore as compared to Rs 43.6 crore in H1FY24.
    • EBITDA margin stood at 14.9% in H1FY25 as against 14.3% in H1FY24, an increase of 60 bps YoY.
    • Profit after tax witnessed a growth of 29.1% YoY to Rs 23.3 crore in H1FY25 as compared to Rs 18.0 crore in H1FY24.
    • Profit after tax margin increased by 110 bps YoY to 7.0% in H1FY25 as against 5.9% in H1FY24.

Consolidated Financiial Highlights:

  • Q2FY25:
    • Total income grew by 35.2% YoY to Rs 285.9 crore in Q2FY25 as against Rs 211.5 crore in Q2FY24.
    • EBITDA increased by 28.2% YoY to Rs 34.1 crore compared to Rs 26.6 crore in Q2FY24.
    • EBITDA margin stood at 11.9% in Q2FY25.
    • Profit after tax witnessed a growth of 40.0% YoY to Rs 17.5 crore in Q2FY25 compared to Rs 12.5 crore in Q2FY24.
    • Profit after tax margin stood at 6.1% in Q2FY25.
  • H1FY25:
    • Total income grew by 31.1% YoY to Rs 569.6 crore in H1FY25 as against Rs 434.4 crore in H1FY24.
    • EBITDA increased by 25.9% YoY to Rs 68.1 crore compared to Rs 54.1 crore in H1FY24.
    • EBITDA margin stood at 12.0% in H1FY25.
    • Profit after tax witnessed a growth of 40.5% YoY to Rs 35.9 crore in H1FY25 compared to Rs 25.5 crore in H1FY24.
    • Profit after tax margin stood at 6.3% in H1FY25.

Atul Aggarwal, Managing Director of Sterling Tools, said: “We are pleased to report another strong operational performance across key financial and strategic parameters for the first half of the fiscal year. Total income increased by 31.1% YoY, reaching Rs 569.6 crore in H1FY25. This robust growth was primarily driven by the continued strength of our SGEM business, which has made significant strides. The revenue share of SGEM in the overall mix has grown to 42% in H1FY25, compared to 30% in the same period last year. Our EBITDA rose by 25.9% year-on-year to Rs 68.1 crore, driven by a combination of higher turnover and operational leverage.

We are excited to announce our strategic partnership with Kunshan GLVAC Yuantong New Energy Technology Co., Ltd (GLVAC YT), a leading Chinese player in the EV and Hybrid EV market space. This collaboration will focus on manufacturing high-voltage DC contactors and relays in India for Electric and Hybrid Vehicles, a critical segment in the rapidly growing EV & HEV market space.

As we navigate these exciting times, we remain focused on innovating new products, expanding our margins, and strengthening relationships with our clients. Our strategic initiatives, including the collaboration with Yongin and now GLVAC YT, position us as a leader in the development of electronics & electrical components, particularly in the EV and hybrid vehicle markets. We are well-positioned to capitalize on the current momentum and are fully prepared to seize upcoming opportunities, ensuring sustainable and robust performance moving forward.”

Result PDF

Auto Parts & Equipment company Sterling Tools announced Q1FY25 results:

Consolidated: 

  • Total income grew by 27.3% YoY to Rs 283.7 crore in Q1FY25 as against Rs 222.8 crore in Q1FY24
  • Adjusted EBITDA (excl. ESOP expense) increased by 33.9% YoY to Rs 37.1 crore as compared to Rs 27.7 crore in Q1FY24
  • Adjusted EBITDA margin stood at 13.1% in Q1FY25 as against 12.4% in Q1FY24
  • Profit after tax witnessed a growth of 40.9% YoY to Rs 18.4 crore in Q1FY25 compared to Rs 13.1 crore in Q1FY24
  • Profit after tax margin stood at 6.5% in Q1FY25

Standalone:

  • Total income grew by 9.6% YoY to Rs 162.9 crore in Q1FY25 as against Rs 148.6 crore in Q1FY24
  • EBITDA increased by 14.5% YoY to Rs 24.1 crore as compared to Rs 21.0 crore in Q1FY24
  • EBITDA margin stood at 14.8% in Q1FY25 as against 14.1% in Q1FY24
  • Profit after tax witnessed a growth of 41.0% YoY to Rs 11.4 crore in Q1FY25 as compared to Rs 8.1 crore in Q1FY24
  • Profit after tax margin increased by 160 bps YoY to 7.0% in Q1FY25 as against 5.4% in Q1FY24

Commenting on the Q1FY25 performance, Atul Aggarwal, Managing Director of Sterling Tools stated: “Total Income from our standalone business grew by 9.6% to Rs 162.9 crore on a YoY basis. The EBITDA has increased by 14.5% YoY and margins improved to 14.8% in Q1FY25 from 14.1% in Q1FY24. PAT surged by 41.0%, on a YoY basis, to Rs 11.4 crore. The company is focused on achieving higher revenue growth and it is well positioned to capture incremental market share going forward.

SGEM continues to gain traction with total income witnessing a growth of 62.7% on a YoY basis. The revenue share of SGEM in the overall business has risen from 33% in Q1FY24 to 43% in Q1FY25. We are working to add to our EV product portfolio and continue to focus on customer diversification too.

On the industry front, the demand for automobiles was a bit muted during Q1FY25. The EV 2-wheeler industry continues to gain momentum, and the cumulative sales stood at 1,82,050 units in Q1FY25. Hybrid PVs are getting more attention from OEs which aligns well with our EV focus.” 

Result PDF

Auto Parts & Equipment company Sterling Tools announced Q4FY24 & FY24 results:

  • Sterling Tools reported a 21% growth in total income, reaching Rs 938.5 crore in FY24 over the previous year.
  • Sterling Tools reported a 12.5% growth in total income, reaching Rs 270.2 crore in Q4FY24 over the previous year.
  • The Adjusted EBITDA margin stood at 12.4% for FY24 while Profit After Tax (PAT) margin was reported at 5.9%.
  • Profit before tax for Q4FY24 was at 21.3 crore, up by 7.9% YoY.
  • Profit before tax for FY24 was at 71.8 crore, up by 7.7% YoY.
  • Sterling Gtake E-Mobility Limited, a subsidiary of Sterling Tools, witnessed revenue growth of 86% in FY24, amounting to Rs 323.8 crore.

Commenting on the Q4 & FY24 performance, Atul Aggarwal, Managing Director of Sterling Tools limited stated: "During FY24, our consolidated total income grew by 21.1% to Rs 938.5 crore on a YoY basis. The growth is higher as compared to domestic automobile industry growth of 12.5% for the same period. The consolidated adjusted EB/TOA in FY24 is higher by 15.8% as against FY23 while PAT growth is 15.6% YoY.

The revenue generated by SGEM grew from Rs 174.3 crore in FY23 to Rs 323.8 crore in FY24, a substantial increase of 86%. SGEM now accounts for 35% of our consolidated revenue, up from 23% in FY23. Additionally, we are excited to announce that Sterling Tools has entered into an MoU with South Korea's Yongin Electronics Co. Ltd., to establish an EV Components Facility in India. This strategic partnership is anticipated to generate business of around Rs 200 crore p.a. in next 5 years. This venture marks a significant stride towards advancing the production of electronic components in the country. Against this backdrop, the board has approved investments in two companies, named Sterling E-mobility Pvt Ltd and Sterling Tech Mobility Ltd., transforming them into wholly owned subsidiaries of Sterling Tools Ltd.

We announced segregation of Chairman and Managing Director roles in order to provide greater focus to electric vehicles and other green technology verticals. In line with our succession strategy, we have also initiated role transitions, elevating members of next generation to assume expanded roles and responsibilities within the company.

We are optimistic about the future of our company and our industry. We believe that our focus on innovation, customer service, and operational excellence will continue to drive growth and profitability in FY25."

Result PDF

Trending News

Midhani has secured an order of Rs. 121.75 crore

Midhani has secured an order of Rs. 121.75 crore

Published on 19-Dec-2025 09:02

Aeroflex Industries Board has approved a ₹97.56 crore expansion plan

Aeroflex Industries Board has approved a ₹97.56 crore expansion plan

Published on 19-Dec-2025 09:01

As per media sources, HDFC Bank has raised a $1 billion three-year overseas loan from its GIFT City branch

As per media sources, HDFC Bank has raised a $1 billion three-year overseas loan from its GIFT City branch

Published on 19-Dec-2025 09:00

TCS, on its Investor Day 2025, articulated a clear shift towards an AI-first enterprise

TCS, on its Investor Day 2025, articulated a clear shift towards an AI-first enterprise

Published on 18-Dec-2025 09:07

Syrma SGS Technology has completed the first tranche of its acquisition of defence and aerospace electronics firm Elcome Integrated Systems

Syrma SGS Technology has completed the first tranche of its acquisition of defence and aerospace electronics firm Elcome Integrated Systems

Published on 18-Dec-2025 09:06

POWERGRID has commissioned the Western Region Expansion Scheme-XXV

POWERGRID has commissioned the Western Region Expansion Scheme-XXV

Published on 18-Dec-2025 09:05

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Play Store App Store
market app
✕
Application status