Godawari Power & Ispat (GPIL) Q4 24/25 earnings summary

Executive summary

• Achieved highest-ever production in sponge iron, iron ore pellets, ferro alloys, steel billets, silico manganese, and power in FY25, meeting or exceeding production guidance across key segments.

• Maintained a net cash balance sheet with zero net debt and net cash of Rs. 863 Cr as of FY25.

• Completed acquisition of a 43.96% stake in Jammu Pigments Ltd., expanding into non-ferrous metal recycling.

• Board recommended a dividend of Rs. 1 per share (100% of paid-up capital) for FY25, subject to AGM approval.

• Consolidated revenue from operations for FY25 reached ₹5,455.35 crore, up from ₹5,375.73 crore year-over-year.

Financial highlights

• FY25 consolidated revenue was Rs. 5,455.35 Cr, up from Rs. 5,375.73 Cr YoY; EBITDA at Rs. 1,194 Cr, down 10%; PAT at Rs. 935.59 Cr, up from Rs. 812.98 Cr in FY24.

• Q4 FY25 revenue was Rs. 1,468 Cr, down 4% YoY; EBITDA at Rs. 318 Cr, up 44% sequentially; PAT at Rs. 221 Cr, up 53% sequentially.

• FY25 EBITDA margin at 22%, PAT margin at 15%.

• Net cash flow of INR 863 crores as of March 31, 2025.

• Earnings per share (consolidated, basic) for FY25 was ₹15.00, up from ₹13.24 in FY24.

Outlook and guidance

• FY26 production guidance: 3 million tons each for iron ore mining and pellets, 5.94 lakh tons sponge iron, 500,000 tons steel billets, 375,000 tons rolled products, 90,000 tons ferro alloys.

• EBITDA margin expected to remain at FY25 levels (~20%+), with revenue growth of 5-7% driven by new pellet plant and rolling mill.

• CapEx for FY26 projected at INR 850-1,000 crores, focused on pellet plant, mines expansion, solar power, and energy efficiency.

• Major capex projects underway, including expansion of iron ore mining and pellet plant capacities, with expected completion by Q4FY26.

• Dividend payout signals confidence in future cash flows and profitability.