KRBL Limited (KRBL) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue from operations reached a record Rs 1,682 crore, up 17% YoY, led by 104% export growth; domestic revenue declined 4%.

• 9M FY25 revenue rose 2% YoY to Rs 4,152 crore, while profitability margins narrowed amid higher input costs, freight and lower other income.

• Auditors issued a qualified review conclusion regarding the ongoing ED investigation; except for its possible effects, nothing indicated material misstatement or disclosure non-compliance.

Financial highlights

• Q3 total income was Rs 1,690 crore; EBITDA was Rs 203 crore and PAT Rs 133 crore.

• 9M FY25 EBITDA was Rs 482 crore and PAT Rs 322 crore; 9M PAT was Rs 32,184 lakh versus Rs 48,178 lakh a year earlier.

• Q3 gross margin was 24.0%, EBITDA margin 12.0% and PAT margin 7.8%; 9M gross margin was 23.7%, EBITDA margin 11.6% and PAT margin 7.6%.

• Q3 consolidated PBT was Rs 18,176 lakh versus Rs 17,864 lakh YoY; PAT was Rs 13,261 lakh versus Rs 13,384 lakh.

• Consolidated EPS was Rs 5.79 for Q3 and Rs 14.06 for 9M, versus Rs 5.85 and Rs 20.68 YoY, respectively.

Outlook and guidance

• Export plans emphasize channel deepening, market diversification, direct marketing, HORECA growth and economy variants in smaller packs.

• Margins are expected to improve in FY26 as older, higher-cost inventory runs down and freight costs ease.

• Saudi revenue is targeted to exceed Rs 500 crore by 2026; Uplife targets Rs 300 crore sales within three years, with positive product-level P&L expected by year two.

• Strategic priorities include deeper domestic distribution, supply-chain changes, brand investment and entry into adjacent food categories; no quantified financial guidance was included.