Transcript of Analyst meet held on May 29,2025.
FRONTSP · price
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Frontier Springs reported record Q4 FY'25 results with revenue of Rs. 70.08 crore (up 58.75% YoY), EBITDA of Rs. 16.75 crore (up 125.71% YoY) at a 23.9% margin, and PAT of Rs. 11.66 crore (up 130.89% YoY). For full-year FY'25, revenue jumped 70.84% to Rs. 231.34 crore, EBITDA more than doubled to Rs. 49.66 crore with margins improving 613 bps to 21.47%, and PAT surged 167% to Rs. 34.66 crore. Management guided for Rs. 375 crore revenue in FY'26 and Rs. 500 crore in FY'27, with margins expected to improve to 22-23% from the current 21%. Order book stood at Rs. 200-250 crore including a fresh Rs. 100 crore order from RCF and MCF, with another Rs. 50 crore expected by June-end. The company plans Rs. 15 crore in CAPEX to expand air spring capacity from 200 to 300-350 coaches per year and is exploring defence, mining, and metro rail (Siemens, Bombardier, Alstom) opportunities.
Strong execution and clear multi-year growth visibility (62% revenue growth target from FY'25 to FY'27) is a positive signal for the stock. The improving margin trajectory, robust order book, and railway sector tailwinds from the Rs. 2.65 lakh crore Union Budget outlay support continued momentum, though management declined to share segment-level margin or pricing details citing confidentiality.