Financial Results for the HY and Y ended 31st March 2025
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Earthstahl & Alloys reported a sharp decline in FY25 performance. Revenue from operations fell to Rs 7,227.64 lakh from Rs 8,794.39 lakh, a drop of about 18%. Net profit for the year came in at Rs 53.37 lakh, down nearly 72% from Rs 189.12 lakh last year, with EPS falling to Rs 0.44 from Rs 1.55. The second half of the year was particularly weak, swinging to a net loss of Rs 14.35 lakh versus a Rs 67.73 lakh profit in H2 FY24, partly due to the shutdown of submerged arc furnaces for relining between August and October 2024. Operating cash flow also weakened to Rs 165.77 lakh from Rs 782.43 lakh. The company expanded its asset base (PPE nearly doubled to Rs 4,140 lakh) and short-term borrowings rose sharply to Rs 996.67 lakh from Rs 527 lakh to fund new facilities like the 132 KVA substation and a batching & briquetting plant. Auditor O P Bagla & Co LLP issued a clean, unmodified opinion.
Shareholders should note a clear deterioration in both top line and bottom line, with H2 slipping into a loss, but the company is investing in capacity (new plants and furnace relining) which may support recovery. Short-term debt has nearly doubled and operating cash flow has dropped sharply, warranting close monitoring in the coming quarters.