NIRLONBSENirlon LtdMediumNeutral
Announced Wed, 21 May · 14:06 IST

for the quarter and F.Y. 2024-25

Order Pipeline DisclosedInvestor Communications View source PDF

NIRLON · price

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AI summary

Nirlon Ltd reported FY25 total income of INR 6,450 Mn, up 6.2% YoY, with EBITDA of INR 5,117 Mn (margin 79.33%) and PAT of INR 2,182 Mn, up 6.1% YoY. Diluted EPS stood at INR 24.21 and ROE was strong at 61.14%. Q4 FY25 showed sequential softening with EBITDA margin at 78.22% (down 317 bps QoQ), though revenue grew 4.1% YoY. Occupancy at the NKP campus in Goregaon remained high at 98.2%, with BNP, NTT, and Barclays expanding or renewing leased space, while ~136k sqft has been finalized for relicensing. The board proposed a final dividend of INR 11/share, taking total FY25 dividend to INR 26/share (260%), and net debt/EBITDA improved to 1.90x with CRISIL reaffirming its AA+/Stable rating.

Likely market impact

The results are steady with high margins, strong occupancy, and improving leverage, supporting continued shareholder returns. The high dividend payout and low leverage (1.90x) are positives for shareholders, though the QoQ margin dip and higher tax rate (34.94% vs 29.12%) are minor headwinds.