HLE GLASCOAT Q3 ; Management Says Demand in the industrial chemical sector remained subdued until Q3 FY25, but the pharmaceutical segment stayed steady. With stabilizing inventory levels, a gradual recovery is expected.
The Filtration, Drying, and Other Equipment segment saw sequential growth, and the Indian Glass-Lined Equipment business is recovering, leading to improved margins. The growing order book boosts confidence in future topline and margin expansion.
Recent acquisitions are broadening our product portfolio, diversifying risks, and supporting sustainable growth. Acquiring a 26% stake in Clean Max Anchorage will optimize energy costs, reduce payback periods, and enhance profitability through sustainability initiatives.
Don't fall into narratives. Do your own due diligence. Sell early.
Management of Pakka (old name Yash Pakka) had forecasted in 2021 a turnover of 1300 Cr and PAT of 240 Cr by 2025.
Revenue and profit are flat since last 3 years, making a PAT of meagre 42 Cr.
Many have Goals in life, few can achieve.
SANSERA ENGINEERING Q3 HIGHLIGHTS
The company's performance this quarter was impacted by:
0.2% YoY decline in Auto ICE, mainly due to PV slowdown, though 2W business saw growth.
9.5% YoY growth in Auto Tech-agnostic & xEV, driven by strong xEV orders.
6.6% YoY decline in Non-Auto, primarily due to weak off-road and aerospace sectors.
Despite these factors, EBITDA margins stood at 17.5%. The Swedish subsidiary is on track for recovery.
Top 5 customers' contribution fell from 48% in 9MFY24 to 47% in 9MFY25.
The company invested Rs. 3,623 Mn in capex and plans to increase green energy usage in plants from 50% to 60% in FY25, with Karnataka’s share rising from 70% to 80%.
BUTTERFLY GANDHIMATHI Q3 HIGHLIGHTS
Revenue stood at Rs. 238 Cr, in line with last year amidst slowdown in consumer spends
Revenue stabilizing with sustainable momentum in the E-commerce channel
Trade remained flat. Alternate channels continue to perform well.
Key categories delivered healthy growth except LPG stainless steel gas stoves
Premium contribution of key categories improved through focused festive campaigns
Improved gross margins led by pricing and product mix actions despite an increase in input costs
EBITDA improved to 7.2%, expansion by 620 bps over last year by optimizing key cost heads
TRANSRAIL LIGHTING Q3 HIGHLIGHTS
In Q3FY25, the company saw a 62.13% Y-o-Y revenue growth, driven by the T&D segment.
EBITDA margin improved due to better execution and cost controls on both international and domestic projects.
Order intake for 9MFY25 was Rs. 4,715 crore, primarily from T&D.
The company received its first solar EPC order for an 80MW ground-mounted Solar PV project, including a substation.
YTD FY25 order inflows totaled Rs. 4,715 crore, with an L1 position of Rs. 4,144 crore.
The un-executed order book, including L1, reached Rs. 15,643 crore as of December 31, 2024.
TRANSRAIL LIGHTING Q3 HIGHLIGHTS
In Q3FY25, the company saw a 62.13% Y-o-Y revenue growth, driven by the T&D segment.
EBITDA margin improved due to better execution and cost controls on both international and domestic projects.
Order intake for 9MFY25 was Rs. 4,715 crore, primarily from T&D.
The company received its first solar EPC order for an 80MW ground-mounted Solar PV project, including a substation.
YTD FY25 order inflows totaled Rs. 4,715 crore, with an L1 position of Rs. 4,144 crore.
The un-executed order book, including L1, reached Rs. 15,643 crore as of December 31, 2024.
GARWARE TECHNICAL FIBRES: CO CMD SAYS STRONG Q3 FY25 PERFORMANCE 21% REVENUE GROWTH DRIVEN BY GEOSYNTHETICS & AQUACULTURE
Management Says "Q3 FY25 has shown a good Top-line growth of 21% over Q3 FY24. A significant part of the growth in Q3 revenue is led by the Geosynthetics business followed by Aquaculture.
Operating EBIDTA for Q3 FY25 has shown a similar 21% growth over Q3 FY24. PBT growth has been impacted to some extent by lower other income.
Profit before tax grew by 17% in 9M FY25 against the previous year 9MFY24 and operating EBIDTA has grown by 22% over 9MFY24 which is on track on our plans.
Based on current visibility we expect the full year outlook to be positive
SHILPA MEDICARE FY26 OUTLOOK
Improved utilization is likely to drive meaningful improvement in revenue and EBITDA margins
Strong Biosimilar pipeline with various large assets completing clinical trails, coupled with niche CDMO Biologic offerings to drive Biosimilar revenue growth from late FY26 in a significant manner
Multiple complex API launches, growth in Specialty portfolio, coupled with capacity expansion for existing key products to drive API growth
Commercial launch of OLC in US to kick start significant revenue
from CDMO division.
6 key products (NDA-Pemetrexed, NDA – Bortezomib, Nilotinib, Axitinib, Rotigotine and NorUDCA) launches/Scale up to drive revenue materially
SHILPA MEDICARE Q3 HIGHLIGHTS
API BIZ.
3QFY25 Revenue remained muted on account of lumpiness in client buying pattern.
Completed capacity expansion for key products viz. UDCA, Tranexamic Acid, Palbociclib and Nilotinib. Likely to drive incremental growth from 1QFY26 onwards
Expanding product portfolio with launches in multiple complex APIs and Specialty portfolio
Added new clients in various geographies
KILBURN ENGINEERING Q3 HIGHLIGHTS
The company recorded an order booking of Rs. 167 Crores in Q3 FY25.
The order backlog stood at Rs. 409 Crores as of December 31, 2024, providing visibility into future revenue streams.
MD Says Our order intake and backlog are strong, with momentum expected to continue. While some job execution was delayed at customer request, we anticipate higher deliveries and completions in Q4 FY25 and the next fiscal year. Our expansion into metal recycling and pharmaceuticals will diversify and drive growth.
Our strategic initiatives, including the Monga Strayfield acquisition and capacity expansions at Kilburn and M.E. Energy, position us for significant growth.
We expect to surpass Rs. 700 Crores in revenue next fiscal year, driven by new products, geographic expansion, and improved operational efficiencies.
KILBURN ENGINEERING Q3
OUTLOOK; With over Rs. 2,000 Crores in enquiries and an order backlog of Rs. 409 Crores, the company is poised for growth.
Focus on export markets will drive higher margins and increased demand, strengthening KEL's market position.
VA Tech Wabag says
On Saudi Arabia Order win
👉 Va tech share at Rs.1700cr out of Rs.3200cr
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Earlier tender which was taken back has been re-announced, results to be announced in 8 weeks 🤔
VARUN BEVERAGES Q3 ; Chairman Says We ended CY2024 strong, expanding into South Africa and securing distribution in Namibia, Botswana, Mozambique, and Madagascar. We also launched greenfield operations in the DRC.
India volumes grew 11.4%, driving a 23.2% rise in consolidated volumes. This led to a 24.7% revenue increase, 30.5% EBITDA growth, and 25.3% PAT growth.
HIKAL Q3 CONCALL ; Co. says Our API business is recovering with steady volume growth and new market entries.
In CDMO, multiple projects are advancing toward validation and commercialization, backed by a strong pipeline.
Animal Health projects under long-term agreements are progressing well, with seven product validations completed.
Crop protection is stabilizing with rising domestic demand and increased RFP inflows.
Despite pricing pressure from Chinese competitors, we focus on NCEs and new technologies in crop and pharma.
HIkal Says We have capitalized our new multipurpose facility at Panoli last month. We expect the ramp-up from this facility over the next 2 to 3 years.
PG ELECTROPLAST Management Says Looks to maintain growth rate of 30-35% over the next few years
Will announce agreement for manufacturing RAC compressors soon, 60% of these compressors will be used captively
FIRSTSOURCE SOLUTIONS RAISED FY25 GUIDANCE 👍
Revenue Growth Of 21.8-22.3%In
constant currency (Earlier 19.5-20.5%)
EBIT Margins Of 11-11.5% (Earlier 11-11.5%)
SIGNATUREGLOBAL Q3 HIGHLIGHTS
The company achieved significant revenue growth and profitability, with revenue from operations surging 260% YoY to INR 19.8 billion, driven by increased project completions and strong execution.
Achieved best ever pre-sales of INR 86.7 billion in 9MFY25, reflecting 178% YoY growth, with Q3 FY25 pre-sales at INR 27.7 billion.
Collections for 9M FY25 surged 54% YoY to INR 32.1 billion, with Q3 FY25 collections at INR 10.8 billion
Net debt reduced by 36% to INR 7.4 billion from INR 11.6 billion in FY24, strengthening its financial position
Management Says "Our strong 9M FY25 performance, with significant revenue growth and profitability, highlights the success of our strategic initiatives
. Pre-sales of INR 86.7 billion, driven by successful launches, reflect high market demand for quality housing in Delhi NCR.
Improved financial metrics, including better collections and debt reduction, demonstrate our commitment to operational excellence.
Our strategic presence in high-potential areas like Dwarka Expressway, Sohna corridor, and Southern Peripheral Road positions us to capitalize on market opportunities, ensuring continued growth and value creation for stakeholders."
Achieved 87% of the sales guidance for the FY25
Strong tailwinds across the region leading to sustainable growth;
For Q3'FY25, the average sales realization stood at INR 11,124 per sqft, has normalized to our core area of operation-the mid income segment
Ongoing projects are expected to be completed by coming 5-6 Quarters;
Estimated revenue recognition of c. INR 110 bn from ongoing projects';
Estimated collection of c. INR 41 bn from ongoing projects
NYKAA Q3 HIGHLIGHTS
Nykaa Beauty biz Growth
GMV rose 32% YoY to ₹33,899M in Q3FY25, driven by a 30% YoY surge in orders. The customer base expanded to 32M (Beauty) and 40M (One Nykaa).
Nykaa’s offline network grew to 221 stores across 73 cities, adding 47 stores in a year. Retail space expanded 31% YoY to 2.1 lakh sq. ft., with flagship stores boosting AOVs and profitability.
Over 200 new brands launched, including Kerastase, NARS, Tirtir, Axis-Y, and Eucerin, many ranking in the platform’s Top 100.
House of Nykaa Biz Growth
Annualized GMV hit ₹24,000M, tripling in three years. Beauty GMV reached ₹19,000M, with 49% YoY revenue growth.
Dot & Key scaled 15x in three years post-acquisition, now at ₹9,000M GMV and ₹5,100M NSV, achieving strong profitability.
Nykaa Cosmetics named Rasha Thadani as brand ambassador. Kay Beauty, India’s top celebrity beauty brand, marked its 5th anniversary with 4x GMV growth to ₹3,300M and expanded to 221 Nykaa stores and 520+ selective doors.
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BUTTERFLY GANDHIMATHI Q3 ; Management Says Recent interventions have driven sustainable revenue and profitability despite subdued consumer demand, highlighting our brand and channel strengths.
We're focusing on enhancing capabilities for consumer centricity and operational efficiencies.
We expect continued momentum in key categories through premiumization and expansion into emerging channels.
TRANSRAIL LIGHTING Q3 ; Management Says We delivered strong performance this quarter, with a 62.13% YOY revenue growth, driven by the T&D segment, which constitutes over 90% of our order book. EBITDA margins reached 13.24%, reflecting improved efficiencies and cost optimizations.
Our orders are evenly split between international and domestic markets, positioning us for balanced growth. The projected Rs. 9.15 lakh crore investment in power transmission by 2032, along with increased demand for grid modernization and renewable energy, supports continued growth.
With strong Design & Engineering capabilities, in-house manufacturing, and a track record of 200+ projects in 58 countries, we are confident in sustained growth.
INSECTICIDES INDIA Q3 HIGHLIGHTS
MD Says Premium products now make up 62% of B2C revenue, driving strong EBITDA margin growth.
Looking ahead, we’re optimistic, supported by favorable conditions like a strong monsoon, improved reservoir levels, and better crop sowing. Government policies promoting farmer income and crop output will add further momentum.
Our new launches have received a great response, and we remain committed to innovation, enhancing our technology offerings for farmers.
In Q2 FY25, we acquired Kaeros Research Private Limited aimed at securing supply chains and reducing costs through direct imports. Kaeros holds import licenses and vendor approvals, providing valuable benefits. The acquisition was executed at fair value and is accretive to shareholder value.
The Company's fully paid-up capital is Rs. 4.78 crores, with land assets. situated in Shamli, Uttar Pradesh used for field trials.
Margin improvement remained a focus in Q3FY25, driven by a strong product mix and higher margins. New launches like Mission, Mission SC, Shinwa, and Izuki showed strong growth, though B2B sales were affected by macro conditions.
Gross profit margins rose 657 bps in 9MFY25 due to a focus on premium products and a healthy mix.
EBITDA increased 268 bps in 9MFY25, fueled by higher marketing investments for new launches and premium product growth, resulting in higher expenses.
SHILPA MEDICARE Q3 HIGHLIGHTS
Revenue growth came in at 11% on YoY basis, driven by healthy performance in our fast-growing verticals viz. FDF and Biologics.
Gross margins for the quarter came in at 72%, driven by healthy product mix V 67 % (YOY)
Says With strong traction from new product launches, we expect solid revenue growth across all verticals.
Our focus is on scaling the API business, launching approved NDAs in regulated markets, and securing timely approvals for filed products.
We continue to invest in our future pipeline and address regulatory matters.
SHILPA MEDICARE Q3 HIGHLIGHTS
FORMULATIONS BIZ
For the quarter, the division reported robust revenue growth of 64% on YoY basis
Nilotinib Launch in EU region drove strong EU growth
Received approval of our first ODF in EU region
Scale up in pemetrexed on expected lines. Faster pick up expected in FY26
Submitted remediation work with the US FDA for re-inspection of Jadcherla Unit
3 approved NDAs have limited competition. More NDAs will be filed in coming quarters
HILPA MEDICARE Q3 ; MD Says Our 3QFY25 results show strong profitability growth, driven by a better business mix. Key verticals, FDF & Biologics, saw healthy YoY growth, while API performance was muted.
We are focused on reaching key milestones across all verticals, with efforts to monetize assets.
This quarter, we launched Nilotinib in the EU as a sole generic, initiated Ph3 trials for Aflibercept, and began commercial launch for OLC, a US CDMO opportunity. We are optimistic about receiving approval for NorUDCA this financial year.
TASTY BITES Q3 HIGHLIGHTS
TBEL reported its highest-ever quarterly revenue of INR 1,835 million in Q3 FY 2025, up 34% YoY, driven by PBI recovery, Mars innovations, and strong 3rd Party business.
Nine-month revenue reached INR 4,342 million, with growth in Q2 and Q3 following a Q1 setback.
The Food Service Business grew 17% YoY, fueled by new innovations and stronger customer relationships.
Material costs increased to 63% of revenues, up 2% from last year due to commodity inflation in Staples and Oil.
Margins are improving but remain pressured by inflation.
Mahindra & Mahindra says
On Tractors
🚜 Seeing greenshoots in rural areas, bodes well for demand
🚜 Q4 volumes expected at +15%
On Market Share 👉 Target is to get to 40% in all segments
Welcomes competition in EVs 👊
PRAKASH PIPES Q3 HIGHLIGHTS
■ PVC Pipes & Fittings Division
During the quarter, the division achieved sales volume of 10,547 MT.
The division expects the demand to further pick up from the current quarter onwards with the easing of the volatility in resin prices.
Further, the extension of the Jal Jeevan Mission till 2028 with an enhanced outlay, as announced in the Union Budget 2025-26, together with increased government infra spending shall also boost the demand.
■ Flexible Packaging Division
During the quarter, the division achieved sales volume of 4,015 MT. The division continues to utilize its capacities optimally and work on value added products. Export opportunities continue to remain the focus area for better margins
LATENT Views Says Tech Segment Continues To Be Strong For Us; Contributing To 65%-70% Of Revenues - CNBCTV18
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ZAGGLE PREPAID Q3 ; Management Says For FY25, we are confident of achieving a 58-63% growth in our top line.
We are also evaluating inorganic growth opportunities to expedite this growth and the discussions are at advanced stages.
GODAVARI BIO Q3 HIGHLIGHTS
Management Says The Bio-chemicals and Ethanol segment is poised to become a key driver of our future expansion, reinforcing our vision of building a sustainable, innovation-led bio-refining business.
In the pursuit of these goals, we have expanded capacity of 1,3 Butylene Glycol, licensed a technology to make Bio-Butanol and higher alcohols, placed an order for a corn/grain-based distillery, and used our IPO proceeds to reduce term debt which will reduce our finance costs going forward.
In January 2025, the Government has allowed a million-ton export of sugar from India. This has improved sugar prices and will help the industry that was facing pricing pressures in the last quarter.
With this, we are well on the path of driving efficiencies, optimizing costs, and ensuring long-term sustainable growth."
