Rashi Peripherals Limited has informed the Exchange about Transcript of Earnings Call held on May 23, 2025.
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Rashi Peripherals' Q4 FY25 revenue was flat YoY at Rs. 2,973 crore due to a high base and a soft H2, but EBITDA jumped 30% to Rs. 96 crore and PAT rose 12% to Rs. 53 crore. For full-year FY25, revenue grew 24% to Rs. 13,773 crore, EBITDA rose 17.5% to Rs. 361 crore, and PAT surged 46% to Rs. 210 crore, supported by a one-time large AI data center order (Yotta, Rs. 1,500 crore) that has now been fully executed. Management said future data center demand will come through multiple smaller deals across cities rather than one mega order, and the Microsoft laptop refresh cycle is expected to kick in from Q3 FY26, especially in the commercial segment. The planned Satcom Infotech acquisition has been terminated, though the company still wants to enter software reselling. The embedded/semiconductor business crossed Rs. 100 crore in revenue, is already profitable, and carries higher margins than the core ICT distribution business.
Strong FY25 PAT growth of 46% is a positive, but the lack of repeat large data center orders and the termination of the Satcom deal may limit near-term growth upside. Management's confidence in 15-20% topline growth, improving margins as low-margin project business tapers, and a return to 15% ROE in 1-2 years is broadly reassuring for shareholders.