Audited Financial Results - For the year ended 31/03/2025
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Superior Industrial Enterprises Ltd (formerly Superior Vanaspati Limited) announced audited results for FY25. On a standalone basis, revenue from operations dipped marginally to Rs 1,305.58 lakhs (vs Rs 1,337.13 lakhs in FY24), while net profit fell sharply by about 57% to Rs 79.94 lakhs (vs Rs 187.81 lakhs), with EPS dropping to Rs 0.58 from Rs 1.36. On a consolidated basis, revenue rose to Rs 4,390.67 lakhs (vs Rs 4,237.39 lakhs) and net profit jumped to Rs 831.75 lakhs (vs Rs 618.10 lakhs), though the bulk of the growth came from a Rs 634.96 lakh share of profit from its associate Hindustan Aqua Pvt Ltd. The Statutory Auditor, M/s S. Jain & Co., gave an unmodified opinion on both sets of results, but flagged an Emphasis of Matter on the valuation of unquoted investments, which were carried at FY24 audited values as FY25 statements of those investee companies were not available. The Board also re-appointed internal, secretarial and cost auditors and re-appointed Mr. Arun Nevatia as Independent Director.
Standalone core earnings have nearly halved, which is the more important measure for the listed entity and could weigh on the stock. The consolidated picture looks healthier mainly because of associate company income rather than improvement in the parent company's operations, while the auditor's emphasis on outdated investment valuations is a minor transparency flag for investors to monitor.