KPR’s Q4FY25 performance was soft and missed estimates on all fronts. Consolidated revenue grew by 4.3% y-o-y to Rs. 1,769 crore, versus our expectation of Rs. 1,877 crore.
IPL’s Q4FY25 numbers were muted as sluggishness in the paints industry continued to impact performance. Consolidated revenues grew 0.7% y-o-y to Rs. 388 crore (versus our expectation of Rs. 389 crore).
Standalone revenues stood at Rs. 687 crore, up 2.3% q-o-q/13% y-o-y in line with our estimates of Rs 692 crore. Recruitment business continued to grow, whereas non-recruitment businesses also continued to grow with cash profitability.
Standalone revenue grew by 32% y-o-y to Rs. 8,926 crore while EBITDA was at Rs. 221 crore fell 58% y-o-y. In Q4 Cellulosic Fibre revenue grew by 8% y-o-y While EBITDA de-grew by 36% y-o-y due to increased key input costs.