Azad Engineering (AZAD) Q4 24/25 earnings summary

Executive summary

• Achieved record annual and quarterly financial results in FY25, surpassing revenue and margin guidance, driven by strategic execution and expansion initiatives.

• Q4 FY25 revenue reached INR 125 crore, up 34.2% year-on-year, with EBITDA at INR 45 crore and margin at 36.5%.

• Net profit for Q4 FY25 was INR 26 crore, a 74.4% increase year-on-year.

• Export revenue share rose to 91.9% in FY25, reflecting global diversification and strong international demand.

• Standalone and consolidated audited financial results for Q4 and year ended March 31, 2025, were approved and published, with unmodified audit opinions from statutory auditors.

Financial highlights

• FY25 revenue grew 32.9% to INR 453 crore, with PAT at INR 89 crore and EBITDA margin at 36.3%.

• Adjusted EBITDA increased 40.1% YoY to Rs. 1,645.7 Mn (36.3% margin); Q4FY25 Adj EBITDA up 42.9% YoY.

• PAT margin expanded by 230 bps YoY, reflecting operational leverage and cost efficiencies.

• Net cash from operating activities at Rs. 628.9 Mn; significant capex and financing activities in FY25.

• Standalone revenue from operations for FY25 was ₹4,529.28 million, up from ₹3,407.71 million in FY24.

Outlook and guidance

• Targeting 30%+ revenue growth in FY 2026, driven by new capacity and robust order pipeline.

• FY 2026 to be a year of stabilization and consolidation, with further ramp-up expected as new facilities reach optimal utilization.

• EBITDA margin guidance to remain consistent with FY 2025 levels.

• Cash-to-cash conversion cycle expected to improve to 170–180 days by year-end.

• Confident in accelerating growth and creating enduring stakeholder value through ongoing expansion and innovation.