Acutaas Chemicals (ACUTAAS) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue grew 65.2% year-over-year to INR 275 crore (Rs. 2,750 mn), with nine-month FY25 revenue reaching INR 698 crore (Rs. 6,984 mn), nearly matching the previous full-year revenue.

• Growth was driven by strong CDMO ramp-up and advanced pharma intermediates.

• FY25 growth guidance was revised upward from 30% to 35% due to strong performance and improved Q4 visibility.

• Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2024, were approved and reviewed without modifications by statutory auditors.

• Financial statements prepared in accordance with Ind AS and SEBI regulations.

Financial highlights

• Q3 FY25 gross profit was INR 127.2 crore, up 78% YoY; gross margin expanded to 46.2%.

• Q3 FY25 EBITDA was INR 68.7 crore (Rs. 687 mn), up 159% YoY; EBITDA margin at 25%, up 904 bps YoY.

• Q3 FY25 PAT was INR 45.4 crore (Rs. 454 mn), up 155.1% YoY; PAT margin expanded to 16.5%.

• Nine-month FY25 revenue was INR 698 crore (Rs. 6,984 mn), up 41.8% YoY; nine-month PAT up 78.3% YoY to Rs. 977 mn.

• Export revenue accounted for 76% in Q3 FY25; domestic business at 24%.

Outlook and guidance

• FY25 revenue growth guidance revised upward to 35%.

• CDMO business expected to reach INR 1,000 crore by FY28, up from INR 80-90 crore last year.

• Management targets doubling revenue in three years, implying >25% CAGR.

• Margins expected to improve further in FY26, with blended EBITDA margin to reach highest annual level.

• CDMO segment expected to see exponential growth with several projects nearing commercialization by FY26.