Conference Call with Hind Rectifiers Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Electronic Components company Hind Rectifiers announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total Income grew by 22% YoY to Rs 185.4 crore in Q4FY25 compared to Rs 151.7 crore in Q4FY24. EBITDA increased by 46% YoY to Rs 20.2 crore in Q4FY25 from Rs 13.9 crore in Q4FY24, reflecting improved operating efficiencies. EBITDA margins expanded by ~180 bps YoY to 10.9% in Q4FY25 from 9.1% in Q4FY24. PAT surged by 96% YoY to Rs 10.0 crore in Q4FY25 from Rs 5.1 crore in Q4FY24, driven by improved operational performance. FY25 Financial Highlights: Total Income grew by 27% YoY to Rs 656.8 crore in FY25 from Rs 518.2 crore in FY24. EBITDA witnessed a growth of 60% YoY to Rs 71.8 crore in FY25 from Rs 44.9 crore in FY24. The rise in EBITDA is attributed towards operating leverage reflecting better cost management and profitability. EBITDA margins improved by ~220 bps YoY to 10.9% in FY25 from 8.7% in FY24, supported by operating leverage. PAT surged by 197% YoY to Rs 37.1 crore in FY25 from Rs 12.5 crore in FY24, driven by financial leverage and better utilization of Assets. The company maintains a stable Debt equity ratio at 1.03x. The company clocked an ROCE of 25.6% versus 19.4% in FY24. ROE stood at 26.2% in FY25 as compared to 10.6% in FY24. Suramya Nevatia, MD & Chairman of Hind Rectifiers, said: “FY25 has been a landmark year for Hind Rectifiers, marked by record-breaking order inflows, strong revenue growth, and significant margin expansion. Our topline grew by 27% YoY to Rs 656.8 crore, while PAT surged by 197% YoY to Rs 37.1 crore, driven by an enhanced product mix, backward integration, and improved operational efficiencies. Our order book stood at Rs 893 crore as of 31stMarch 2025, underscoring the trust our customers place in us, especially in the railway sector where we secured key orders worth Rs 1,014 crore during the year. This robust pipeline, along with the commissioning of strategic capex of Rs 43 crore towards backward integration and facilitate new product manufacturing at our Sinnar and Satpur facilities, positions us well for sustained future growth. Our focus on indigenous product development and execution excellence has enabled successful delivery of high-value projects including the propulsion system for Indian Railways and HVAC systems for LHB Passenger coaches. We also enhanced our long-term strategic positioning by establishing new technology-focused subsidiaries, enabling our foray into cutting-edge domains such as IT, Artificial Intelligence and Web3. With the Indian government’s continued push on infrastructure and railway electrification, we remain confident in our ability to deliver long-term value to stakeholders, leveraging our engineering prowess, innovation capabilities, and customer-centric execution. Result PDF
Electronic Components company Hind Rectifiers announced Q3FY25 results Financial Highlights: Total Income grew by 24% YoY to Rs 169.4 crore in Q3FY25 from Rs 136.7 crore in Q3FY24. EBITDA increased by 34% YoY to Rs 18.1 crore in Q3FY25 from Rs 13.54 crore in O3FY24, reflecting improved operating efficiencies. EBITDA margins expanded by ~90 bps YoY to 10.7% in Q3FY25 from 9.8% in Q3FY24. PAT surged by 567% YoY to Rs 10 crore in Q3FY25 from Rs 1.5 crore in Q3FY24, driven by improved operational performance and lower financial costs. Other Highlights: The current order book stands at approximately Rs 870 crore. The Board of Directors has approved the incorporation of a wholly owned subsidiary focused on developing solutions in the field of Information Technology (IT), Artificial Intelligence (AI), Web3, and varied software. The company has commercialised the operations of a new vertical: HVAC systems. Suramya Nevatia, MD & CEO of Hind Rectifiers, said: “We are pleased to announce that Q3 and 9MFY25 have been marked by robust growth and operational excellence. Our topline for Q3FY25 stood at Rs 169.4 crore, reflecting a growth of 24% YoY. The company’s PAT grew by 567% YoY for Q3FY25, driven by effective cost management, despite the impact of rising raw material costs. The company’s order book remains strong at ~Rs 870 crore, with strong order pipeline, primarily driven by the government's continued focus on the railway sector and upcoming opportunities within the industry. We are actively progressing with our capacity expansion plans at the Sinnar and Satpur plants along with focus on backward integration which will reduce import dependency of certain components and improving cost efficiency. Overall demand seems to be intact and robust. The government’s emphasis on railway infrastructure development, modernization, and electrification continues to be a critical driver for our business. With a clear focus on indigenous product development, innovation, and execution excellence, our strategy of securing new orders, expanding our product portfolio, and improving margins enables us for sustainable growth going ahead. Our strong order book, combined with our engineering expertise and commitment to backward integration, will continue to propel us toward increased market share and long-term growth across all our business segments.” Result PDF
Electronic Components company Hind Rectifiers announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue increased by 25.7% YoY to Rs 166 crore in Q2FY25 from Rs 132 crore in Q2FY24. EBITDA witnessed a growth of 72.2% YoY to Rs 18.30 crore in Q2FY25 from Rs 10.6 crore in Q2FY24. The rise in EBITDA is attributed towards operating leverage reflecting better cost management and profitability. EBITDA margins expanded by ~300 bps YoY to 11.0% in Q2FY25 from 8.04% in Q2FY24. PAT increased by 156.1% YoY to Rs 10 crore in Q2FY25 from Rs 4 crore in Q2FY24. H1FY25 Financial Highlights: Revenue increased by 31.5% YoY to Rs 302 crore in H1FY25 from Rs 230 crore in H1FY24. EBITDA grew by 90.04% YoY to Rs 32.78 crore in H1FY25 from Rs 17.25 crore in HIFY24. EBITDA margins improved by ~336 bps YoY to 10.88% in H1FY25 from 7.52% in H1FY24. PAT jumped by 191.3% YoY to Rs 17 crore in H1FY25 from Rs 6 crore in HIFY24. The PAT growth is largely driven by financial leverage and lower effective tax rate on YoY basis. The company maintains a stable Debt equity ratio at 0.92x. The company clocked a ROCE* of 22.34% (Annualized) versus 12.04% in FY24. ROE stood at 24.53% (Annualized) as compared to 10.59% in FY24. Busniess Highlights: During H1 FY25, the company has launched Railway Propulsion System and Modular Pantry for Train 18. The entire propulsion system was developed indigenously. The overall order book stood at Rs 846.9 crore, as on Sept-24 and the company continues to have a strong order pipeline from Railways. Revenues from Railway segment contributes ~95% to the overall revenue. The Company has incurred capex of Rs 10.07 crore in H1FY25. The Board of Directors has approved the sale of Dehradun Plant (located at situated at New Khasra No.64- 67 & 74, Village Charba, Langha Road, Dehradun- 248197) of the Company not less than Rs. Eight Crores to unrelated party. Suramya Nevatia, MD & CEO of Hind Rectifiers, said “We are pleased to announce that the first half of the fiscal commenced on a strong footing, marked by a notable Revenue growth of 25.7% YoY to Rs 302 crore in H1FY25. We have also witnessed an uptick in EBITDA by 90% to Rs 33 crore along with the margin accretion of 336 bps increasing to 11.1% during the same period. On the profitability front, our PAT has surged to Rs 17 crore in H1FY25; a growth of 191.3% YoY. The company’s order book continues to remain robust at Rs 847 crores as on Sept-30 primarily on the back of government’s continued focus on railway sector and several upcoming opportunities within the industry, we are in process of capacity expansion at our Sinnar & Satpur plant. We have always been at a forefront in terms of Research & Development activities and product innovation. We firmly believe in our engineering expertise coupled with execution capabilities and remain committed in fulfilling existing orders within specified timelines. Our endeavour is to adopt a three-pronged strategy of securing new orders, focus on product development and improving margins. We foresee second half of the fiscal to be promising and the company is well positioned to capture incremental market share in the respective business segments “ Result PDF