EPL (500135) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 saw revenue up 8.4% year-over-year, EBITDA margin at 20%, and PAT up 72%, led by 21% growth in Europe and strong Americas and EAP performance.

• Board approved unaudited results for the quarter and half year ended September 30, 2024, and declared an interim dividend of INR 2.50 per share.

• Personal Care & Beyond category grew 10.2%, now representing 48% of total revenue.

• Nine consecutive quarters of steady growth, with a focus on sustainability and innovation.

• Board noted director changes and continued ESOP allocations.

Financial highlights

• Q2 FY25 consolidated revenue was INR 10,862 million (up 8.4% YoY); EBITDA INR 2,167 million (up 19.7% YoY); PAT INR 870-883 million (up 72-72.3% YoY).

• EBITDA margin reached 20%; EPS was INR 2.73, up 73% YoY.

• Interim dividend of INR 2.50 per share announced.

• Net debt reduced to INR 5,949 million; capex YTD at INR 1,734 million.

• Net cash generated from operating activities (H1 FY25) was INR 3,240 million, up from INR 2,230 million YoY.

Outlook and guidance

• Targeting sustainable double-digit revenue growth and EBITDA margins above 20%.

• Brazil expansion progressing well, with capacity expansion under evaluation.

• Personal Care & Beyond expected to deliver consistent growth; sustainability mix to exceed 60% in 2-3 years.

• No change to medium-term guidance; focus remains on execution and margin delivery.

• No material uncertainties or misstatements raised by board or auditors.