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News: Revenue increased by 31.8% YoY (+10.7% QoQ) to Rs 254.6 crore. EBIDTA margin contracted by 108 bps YoY (-257 bps QoQ) to 8.1% on account of higher RM cost and employees cost. Subsequently, EBIDTA was up 16.2% YoY (-16% QoQ) to Rs 20.6 crore. PAT increased by 22.2% YoY (-7.9% QoQ) to Rs 11.3 crore. For 9MFY25, revenue is up 51.9% YoY with EBITDA margin stands at 10.1% (vs 10.0% in 9MFY24). PAT is up 42% YoY to Rs 36.1 crore in 9MFY25
View: Revenue growth remained strong during the quarter, driven by expansion of capacities with increasing share of value-added products. Going forward also, revenue growth is expected to remain strong over the next 2-3 years, led by ongoing organic capex with increasing presence in key international markets and other higher growth segments. Margins are also expected to improve gradually led by backward integration, favorable product mix and operational efficiencies.
Impact: Positive