EPL (500135) Q4 24/25 earnings summary

Executive summary

• Q4 FY25 revenue grew 7.4%, EBITDA rose 17.7%, and adjusted PAT increased 42.4% YoY, with 11 consecutive quarters of EBITDA margin above 20%.

• Full-year FY25 revenue reached Rs. 42,133 million (+7.6% YoY), EBITDA up 17.5%, and adjusted PAT up 44.6% YoY.

• Beauty and cosmetics/'Personal Care & Beyond' segment contributed 48% of tube revenue, outpacing oral care growth.

• Net debt-to-EBITDA improved to 0.54x, ROCE/ROC increased to 18% (+335 bps YoY), and EPS rose to INR 11.38.

• Final dividend proposed at INR 5 per share and Rs. 2.50 per share recommended, subject to shareholder approval.

Financial highlights

• Q4FY25 revenue: INR 11,054 million (+7.4% YoY); EBITDA: INR 2,246 million (+17.7% YoY); EBITDA margin: 20.3%.

• FY25 consolidated revenue: Rs. 42,133 million; net profit after tax: Rs. 3,638 million.

• CapEx for FY25 at INR 3,631 million; FY26 planned at INR 380-390 crore.

• Net debt reduced to INR 4,568 million; strong cash flow improved net debt-to-EBITDA to 0.54x.

• Consolidated EPS for FY25 was Rs. 11.27; adjusted EPS: INR 11.38.

Outlook and guidance

• Double-digit revenue and EBITDA growth targeted for FY26, with margin growth ahead of revenue.

• Beauty and cosmetics/'Personal Care & Beyond' expected to drive growth, supported by capacity expansions in Brazil and Thailand.

• 1/3rd of portfolio now sustainable tubes; aiming for EcoVadis Platinum rating.

• Minimal impact expected from US tariffs due to local manufacturing and contractual pass-throughs.

• Investment in a new wholly owned subsidiary in Thailand post year-end signals ongoing international expansion.