Q4FY25 Earnings Release is enclosed
VISHNU · price
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Awaiting price reaction for this filing.
Vishnu Chemicals reported its highest-ever quarterly PAT of ₹38.9 cr in Q4FY25, up 40% YoY, with operating revenues rising 31% YoY to ₹392.6 cr. For the full year FY25, revenues grew 19% YoY to ₹1,446.6 cr and PAT rose 25% YoY to ₹126.6 cr, marking four consecutive quarters of sequential revenue growth. However, consolidated EBITDA margin contracted sharply from 21.1% in Q4FY24 to 16.3% in Q4FY25, with management blaming elevated raw material costs, higher freight, and soft export demand in the standalone business. The company remains net cash positive with D/E at 0.37x (reduced for the 7th straight year), ₹81.7 cr in cash, and flagged ongoing South Africa expansion and new chemistry capex at Vishnu Strontium for FY26.
Positive on growth and balance sheet strength — record PAT, strong cash flow, and consistent deleveraging support the stock. However, the sharp EBITDA margin compression despite revenue growth is a near-term concern that may cap upside until raw material and export headwinds ease.