Tega Industries (TEGA) Q3 24/25 earnings summary

Executive summary

• Group revenues for the nine months ended December 2024 reached INR 1,139 crore, up 13% year-over-year, with EBITDA at INR 230 crore and a margin of 20%.

• Q3 FY25 operating revenue rose 20.3% year-over-year to Rs. 4,093 mn, with 9M FY25 revenue up 11.8% to Rs. 11,025 mn.

• Q3 FY25 PAT increased 52.3% year-over-year to Rs. 543 mn, while 9M FY25 PAT declined 5.9% to Rs. 982 mn.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were reviewed and approved by the Board and Audit Committee, with a limited review by statutory auditors confirming compliance and no material misstatements.

• Order book as of December 2024 stands at INR 1,258 crore, with INR 758 crore executable within one year.

Financial highlights

• Consumable business revenue for nine months ended December 2024 was INR 970 crore, up 15% year-over-year.

• Equipment business revenue for the same period was INR 136 crore, down 8% year-over-year.

• Q3 FY25 gross profit margin improved to 58.9% from 57.1% in Q3 FY24.

• Q3 FY25 EBITDA margin rose to 22.3% from 16.5% year-over-year; 9M FY25 EBITDA margin at 17.2%.

• Q3 consumable business revenue was INR 356 crore, up 24% year-over-year; equipment business was INR 55 crore, nearly flat.

Outlook and guidance

• Management maintains a 15% CAGR growth trajectory, consistent with the past four to five years.

• Equipment business revenue guidance for FY25 remains at 15% growth.

• FY26 guidance will be provided in the Q4 call as budgets are being finalized.

• The company continues to focus on manufacturing and distribution of critical consumables and equipment for the global mineral beneficiation, mining, and bulk solids handling industry.