Results - Financial Results 31/03/2025.
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Kinetic Engineering Ltd reported consolidated FY25 revenue from operations of ₹14,193 lakhs, almost flat versus ₹14,164 lakhs in FY24. Consolidated profit after tax rose about 22% to ₹604 lakhs (FY24: ₹495 lakhs), while standalone PAT grew about 26.5% to ₹654 lakhs, helped significantly by a ₹1,009 lakh profit on sale of non-core assets. However, Q4 FY25 was soft, with consolidated revenue of ₹3,854 lakhs (down ~5% YoY) and Q4 PAT of just ₹62 lakhs (down ~28% YoY). The board also noted conversion of warrants into equity and redemption of ₹19.63 crores of preference shares. Both standalone and consolidated operating cash flows were negative for the year (−₹2,204 lakhs and −₹1,884 lakhs respectively), though closing cash strengthened to ₹3,233 lakhs aided by financing activities.
Overall results are mixed — full-year PAT growth looks healthy on the surface but is largely propped up by one-time non-core asset sale gains, while Q4 weakness and negative operating cash flow raise concerns about underlying core business performance. Auditors have given an unmodified (clean) opinion, which is reassuring, but shareholders should note the quality of earnings and watch for improvement in cash generation.