Standalone and Consolidated Financial Results Q4FY25
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Makers Laboratories Ltd reported FY25 results with a mixed picture. Standalone revenue from operations fell about 12.5% YoY to Rs. 4,294.46 lacs from Rs. 4,908.85 lacs. Standalone profit after tax swung to Rs. 492.86 lacs from a loss of Rs. 695.78 lacs, but this turnaround was entirely driven by a one-time gain of Rs. 1,010 lacs from the sale of property, plant and equipment; excluding this exceptional item, standalone profit before tax was a loss of Rs. 517.14 lacs. On a consolidated basis, revenue grew roughly 15.7% to Rs. 12,075.12 lacs, helped by the subsidiary Resonance Specialties, and consolidated PAT swung to a profit of Rs. 1,090.75 lacs from a loss of Rs. 470.74 lacs, though Q4FY25 consolidated PAT alone was a loss of Rs. 128.59 lacs. Standalone operating cash flow was negative at Rs. (689.63) lacs versus Rs. (38.89) lacs last year. The auditor (Natvarlal Vepari & Co LLP) issued an unmodified opinion. The board also approved reappointment of Mr. Vishal Jain as Independent Director for a second 5-year term from November 4, 2025.
The headline profit turnaround looks better than the underlying business - standalone core operations remain in the red with falling revenue and negative cash from operations, propped up by a one-off property sale. Investors should look through the exceptional gain to assess the real health of the pharma business before drawing conclusions.