We have enclosed herewith the audited results for the quarter and year ended March 31, 2025.
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The company reported audited FY25 results showing a sharp turnaround. Total income rose to about ₹25,962 lakhs from ₹14,879 lakhs in FY24, a jump of roughly 74%, driven mainly by the Ferro Alloys segment. Profit before tax swung from a loss of ₹(831) lakhs in FY24 to a profit of ₹9,116 lakhs in FY25, with PAT of about ₹2,779 lakhs versus a loss of ₹(866) lakhs the prior year. The board recommended a dividend of ₹0.50 per share (5%) subject to shareholder approval. The company also recognized a one-time liability towards Fuel & Power Purchase Cost Adjustment (FPPCA) for FY23–FY25 per an Andhra Pradesh Electricity Regulatory Commission order, and noted the prior-year sale of its JV stake in Al-Tamman Indsil Ferro Chromes for ₹146.51 crore. Auditor issued an unmodified opinion.
Strong revenue growth and a swing back to profit should lift sentiment, though much of the profit jump reflects the one-time JV sale proceeds. The 5% dividend rewards shareholders while the FPPCA liability recognition absorbs some of the gains. Investors should watch for sustainability of the operating turnaround in FY26.