Alicon Castalloy (531147) Q1 24/25 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue of INR 440 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 58.3 crore, with margin improving to 13.2% from 11.3% last year.

• PAT doubled year-over-year to INR 19.04 crore, with PAT margin rising to 4.3%.

• Growth driven by strong performance in passenger, commercial, and two-wheeler segments, and addition of global clients.

• The Board recommended a final dividend of ₹4.50 per equity share for FY24.

Financial highlights

• Q1 FY25 revenue rose 24% year-over-year to INR 440 crore (₹43,998.48 lakhs), with total income at ₹44,072.91 lakhs.

• Gross margin improved to 50.42% from 50.17% year-over-year.

• EBITDA increased 46% year-over-year to INR 58 crore, margin at 13.2%.

• PAT doubled to INR 19 crore from INR 9 crore year-over-year; PBT up 109% to INR 25 crore.

• Finance cost up 9% year-over-year to INR 10 crore; depreciation up 22% to INR 22.44 crore.

Outlook and guidance

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

• Management expects margin improvement through the year, with Q1 margins as a base.

• Optimistic outlook for FY25, focusing on value chain advancement and diversification across technologies and markets.

• Cautious monitoring of global macroeconomic risks, especially Middle East conflict.

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