Alicon Castalloy (531147) Q1 24/25 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue of INR 440.7 crore (₹43,998.48 lakhs) in Q1 FY25, up 24% year-over-year and 5% sequentially, marking the third consecutive quarter above INR 400 crore.

• EBITDA rose 46% year-over-year to INR 58.26 crore, with margin improving to 13.2%.

• PAT doubled to INR 19.04 crore from INR 9.49 crore in Q1 FY24, a 101% increase year-over-year.

• Growth driven by strong performance in passenger, commercial, and two-wheeler segments, with both domestic and international businesses contributing.

• Customer base expanded to include leading global OEMs and Tier One suppliers, reflecting a shift toward higher value-add and technology-driven solutions.

Financial highlights

• Total income for Q1 FY25 reached INR 440.73 crore (₹44,072.91 lakhs), up from INR 350 crore (₹35,485.92 lakhs) in Q1 FY24.

• Gross margin improved to 50.42% from 50.17% in Q1 FY24.

• EBITDA margin rose to 13.2% from 11.3% year-over-year.

• PAT margin increased to 4.3% from 2.7% year-over-year.

• Finance cost up 9% year-over-year to INR 10.35 crore; depreciation up 22% to INR 22.44 crore.

Outlook and guidance

• FY25 revenue target of INR 1,800 crore, representing 15% annual growth.

• Management optimistic for FY25, focusing on value chain advancement and expanding across markets, technologies, and customer segments.

• Anticipates continued strong demand in two-wheeler and hybrid vehicle segments.

• Expects hybrid and EV contributions to remain around 19% of revenue, with plans to increase further.

• Long-term CAGR of 15%-16% in topline expected beyond FY26.