Gallantt Ispat (GALLANTT) Q2 24/25 earnings summary

Executive summary

• Board approved unaudited Q2 and H1 FY25 results on Oct. 28, 2024; Q2 revenue from operations was ₹94,256.79 lakh and net profit ₹4,889.25 lakh.

• H1 revenue from operations reached ₹2,10,226.23 lakh and net profit ₹17,076.18 lakh; EBITDA was Rs 315.44 crore.

Financial highlights

• Q2 revenue from operations was ₹94,256.79 lakh vs ₹94,986.74 lakh YoY; EBITDA was Rs 99.67 crore vs Rs 88.5 crore, up 12.6%.

• Q2 profit before tax was ₹6,508.68 lakh vs ₹5,437.52 lakh, and net profit was ₹4,889.25 lakh vs ₹4,725.91 lakh YoY.

• H1 revenue from operations was ₹2,10,226.23 lakh vs ₹1,98,604.15 lakh; PBT was ₹24,442.64 lakh vs ₹9,551.52 lakh, and net profit was ₹17,076.18 lakh vs ₹7,796.58 lakh.

• H1 EBITDA was Rs 315.44 crore vs Rs 160.44 crore; total comprehensive income was ₹17,179.79 lakh.

Outlook and guidance

• FY26 revenue target: ~Rs 5,000 crore, +/-5%, with targeted capacity utilisation above 90%.

• FY25 EBITDA margin guidance is 13%, vs 11% in FY24 and 9% in FY23; drivers include cost controls, pellet and railway-rake benefits, captive power and higher utilisation.

• 165,000 MTPA Gorakhpur DRI unit targeted for completion by December 2024; planned capacity utilisation improvement from 80% to 95%.

• Pelletisation estimated to save Rs 1,000 per tonne; growth initiatives include distribution expansion and potential premium housing development on owned land.