Intimation of Investor Presentation on the results of Q4FY25
SALZERELEC · price
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Awaiting price reaction for this filing.
Salzer Electronics posted Q4FY25 standalone revenue of Rs. 365.59 crore, up 15.1% year-on-year, but EBITDA fell 15.3% to Rs. 26.18 crore with margins shrinking 258 basis points to 7.16% due to higher expenses from the newly launched smart meter business. Standalone Q4 PAT declined 31.8% to Rs. 8.23 crore. For the full year FY25, revenue grew 21.8% to Rs. 1,382.93 crore, EBITDA rose 13.4% to Rs. 124.93 crore, and PAT surged 44.2% to Rs. 62.26 crore, aided by an exceptional gain of Rs. 15.18 crore from the sale of its investment in Kaycee Industries. Management guided that EBITDA margins should revert to around 10.5% once smart meter volumes scale up in coming quarters. Notable order wins include a Rs. 192 crore smart lighting project from BBMP (Bengaluru) and a Rs. 50 crore smart meter order under the government's RDSS scheme, while exports contributed about 24% of Q4 revenue.
The weak Q4 print with sharp margin compression is likely to weigh on the stock in the short term, but the management's clear margin recovery guidance and a strong order pipeline in smart meters and smart lighting offer medium-term upside if execution holds.