Jai Balaji Industries (JAIBALAJI) Q4 24/25 earnings summary

Executive summary

• FY25 revenue was ₹6,350.80 crore and net profit ₹557.88 crore, down from ₹6,413.78 crore and ₹879.56 crore in FY24, amid sluggish markets and slower government orders.

• Priorities include value-added DI Pipes and Specialized Ferro Alloys, higher utilization, debt reduction and capacity growth; the Board approved expansion into OPVC pipes, tubes and fittings.

Financial highlights

• Q4FY25 revenue was ₹1,589.53 crore, down 14% YoY; adjusted EBITDA was ₹136.3 crore, down 47%, with a 9% margin versus 14%.

• Q4 net profit was ₹75.48 crore versus ₹272.98 crore YoY; FY25 net profit was ₹557.88 crore versus ₹879.56 crore, down 37%.

• FY25 adjusted EBITDA was ₹872.1 crore, down 11%, with a 14% margin versus 15%; reported EBITDA was ₹866.8 crore versus ₹906.3 crore.

• FY25 revenue declined 1% YoY; Q4 PBT was ₹108.34 crore versus ₹356.63 crore YoY, and FY25 PBT was ₹777.99 crore versus ₹963.21 crore.

Outlook and guidance

• FY26 targets: revenue growth of 25%–30%, EBITDA margin of 16%–17%, DI Pipe production above 400,000 tons and capex of ₹175 crore.

• DI Pipe capacity is targeted at 600,000 TPA and Ferro Alloys capacity at 190,000 TPA; management expects government ordering activity to revive in FY26.