Powerica (POWERICA) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue from operations for FY24 was ₹2,210.00 crore, down from ₹2,378.26 crore in FY23, with profit after tax rising to ₹228.70 crore from ₹106.30 crore year-over-year.

• Standalone revenue from operations was ₹2,195.07 crore (FY23: ₹2,354.63 crore), with net profit at ₹213.12 crore (FY23: ₹113.05 crore).

• The company executed a buyback of 62 lakh equity shares, reducing share capital and impacting reserves.

Financial highlights

• Standalone EBITDA increased to ₹493.71 crore (FY23: ₹384.30 crore); consolidated EBITDA was ₹509.22 crore (FY23: ₹377.32 crore).

• Standalone EPS rose to ₹69.52 (FY23: ₹33.60); consolidated EPS was ₹74.62 (FY23: ₹31.58).

• Gross margin improved due to higher profitability in wind asset sales and cost control.

• No dividend was declared for equity shareholders; preference dividend at 0.001% was paid as per merger scheme.

Outlook and guidance

• Construction of a new 50MW wind power project in Gujarat is underway, expected to be commissioned in FY25.

• Focus on approvals and land acquisition for 400MW wind and 125MW wind-solar hybrid projects.

• The company expects continued growth in the power generation and wind segments, with ongoing investments in project development and O&M services.