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Maximus International reported strong FY25 results, with revenue surging 44% year-on-year to INR 1,568.5 Mn, driven by robust demand across core verticals. EBITDA grew 26% to INR 151.9 Mn, supported by scale efficiencies and tight cost controls, while Profit Before Tax rose 23% to INR 103.4 Mn and Profit After Tax grew 14% to INR 91.0 Mn. In Q4 FY25, revenue increased 22% sequentially to INR 448.8 Mn, with PAT at INR 20.3 Mn. The company improved its Debt-to-Equity ratio from 0.73x to 0.65x quarter-on-quarter, reflecting proactive capital structure optimisation, and maintained an Interest Service Coverage Ratio of 4.01x. Capital Work-in-Progress jumped from INR 8.3 Mn to INR 46.65 Mn, signalling major investments in expanded manufacturing facilities and corporate office. Operating cash outflow widened to INR 145.7 Mn due to higher working capital investment, though pre-working-capital cash generation stood at a healthy INR 164.5 Mn.
This is a positive update for shareholders, showing strong top-line growth, expanding margins, and disciplined balance-sheet management alongside aggressive capacity expansion. The higher working-capital outflow is a near-term watch point, but the strong order momentum and improving leverage suggest the company is well-positioned for continued growth.