Annual Report for the financial year 2024-25
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Black Rose Industries Ltd has submitted its 35th Annual Report for FY 2024-25 along with the AGM notice. Standalone Total Revenue grew 10.5% YoY to ₹337.34 crores, while PAT jumped 30% YoY to ₹26.59 crores and EBITDA grew 22% YoY to ₹38.36 crores, yielding an EBITDA margin of 11.40% and PAT margin of 8.00%. The Chemical Distribution business (~70% of revenue) grew 29% in value and 10% in volume, while Manufacturing contributed ~27%. The company declared a total dividend of ₹3.15 per share (₹2 Special Interim + ₹0.50 Interim + ₹0.65 Final) and remains virtually debt-free with a D/E ratio of 0.06 and a CRISIL BBB+/Stable credit rating. Key strategic items include progressing the polyacrylamide solids project (10,000 MTPA, ₹60–100 crore capex), a feasibility study with Japan's Koei Chemical for speciality amines, and a proposal to close/sell its wholly-owned Japan subsidiary B.R. Chemicals Co. Ltd. The 35th AGM is scheduled for September 29, 2025 via video conferencing.
Routine compliance filing, but the underlying numbers are encouraging — profit growth (30% YoY) far outpaced revenue growth (10.5% YoY), reflecting margin expansion and improved operating leverage. The healthy dividend and debt-free balance sheet are positive for shareholders; the proposed closure of the Japan subsidiary and new capex plans signal a sharper focus on the domestic manufacturing and R&D roadmap.