Bondada Engineering (543971) Q2 24/25 earnings summary

Executive summary

• H1 FY25 consolidated total income was ₹48,340.32 lakh; EBITDA rose 160% YoY to ₹56.67 Cr and PAT rose 142% to ₹36.01 Cr.

• Closing order book reached ₹5,342 Cr as of Oct 2024, with delivery expected over 18–24 months.

• EPC led segment performance; operating cash flow was negative ₹5,329.75 lakh, with short-term borrowings higher than at 31 Mar 2024.

• Two subsidiaries were incorporated during H1 FY25; the consolidated limited review reported no material misstatement concerns.

Financial highlights

• Consolidated revenue from operations was ₹48,059.96 lakh vs ₹29,571.80 lakh YoY; total income was ₹48,340.32 lakh vs ₹29,716.46 lakh.

• Consolidated EBITDA was ₹56.67 Cr, up 160% YoY; PBT was ₹4,899.61 lakh vs ₹1,710.58 lakh and PAT was ₹3,601.26 lakh vs ₹1,487.18 lakh.

• Profit attributable to minority shareholders was negative ₹59.62 lakh; profit after minority interest was ₹3,541.64 lakh vs ₹1,468.63 lakh YoY.

• Standalone revenue from operations was ₹44,045.44 lakh vs ₹27,198.67 lakh YoY; standalone PAT was ₹3,333.07 lakh vs ₹1,363.73 lakh.

Outlook and guidance

• Historical revenue mix is 30%–35% in H1 and 65%–70% in H2; order book and execution timelines underpin expectations for a stronger H2 FY25.

• Tenders worth ₹2,437 Cr were submitted and ₹5,975 Cr remained to be received from customers.

• 2030 ambition: rank among India’s top five EPC companies and reach a 10+ GW target.