Results for the financial year ended 31-03-2025
Awaiting price reaction for this filing.
CES Limited reported healthy revenue growth for FY25, with standalone revenue from operations rising about 23.5% to ₹28,076.59 lakhs (vs ₹22,730.16 lakhs in FY24). Standalone profit after tax grew roughly 24.7% to ₹938.78 lakhs (vs ₹753.15 lakhs). On a consolidated basis, revenue rose about 11.4% to ₹52,212.11 lakhs and PAT grew to ₹2,952.16 lakhs from ₹2,648.11 lakhs, with EPS at ₹8.11 (vs ₹7.28). The business continues to be USA-centric (over 97% of consolidated revenue) and is split between IT Services and ITES Services. Statutory auditors N G Rao & Associates issued an unmodified (clean) opinion on both standalone and consolidated results. However, the consolidated operating cash flow turned sharply negative at -₹6,623.49 lakhs, largely driven by a sharp jump in trade receivables which more than doubled from ₹8,940.76 lakhs to ₹19,377.95 lakhs.
Strong top-line growth and rising profits are positive for shareholders, but the steep rise in receivables and a large negative operating cash flow on a consolidated basis signal working capital stress that investors should watch closely; standalone numbers are the cleaner story.