Elin Electronics (ELIN) Q1 24/25 earnings summary

Executive summary

• Total income for Q1FY25 reached INR 2,936 million, up ~16% year-over-year and ~6% sequentially from Q4FY24.

• Profit after tax rose to INR 59 million, a ~55% increase year-over-year and ~69% sequentially.

• EBITDA grew to INR 133 million, up ~36% year-over-year and ~7% sequentially.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, and revised the Employee Stock Option Plan 2024, subject to shareholder approval at the upcoming AGM.

• Audit Committee and Board reviewed and approved the results on August 6, 2024.

Financial highlights

• Consolidated revenue from operations for Q1 FY25 was ₹2,859.24 million, up from ₹2,477.81 million in Q1 FY24.

• Consolidated profit after tax for Q1 FY25 was ₹59.19 million, compared to ₹37.72 million in Q1 FY24.

• Standalone revenue from operations for Q1 FY25 was ₹2,310.77 million, up from ₹2,024.92 million in Q1 FY24.

• Standalone profit after tax for Q1 FY25 was ₹49.15 million, compared to ₹41.24 million in Q1 FY24.

• Basic and diluted EPS for Q1 FY25: ₹1.24 (consolidated), ₹0.99 (standalone).

Outlook and guidance

• Green shoots of demand revival observed, especially in small appliances and FHP motors.

• New product launches in small appliances (trimmer, kettle, OFR, OTG, chimney) expected in FY25, with full revenue impact in FY26.

• Ongoing discussions with potential new customers in lighting, fans, and switches segments.

• Board approved the formulation of the Employee Stock Option Plan 2024 to incentivize and retain talent, subject to shareholder and regulatory approvals.