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Grauer & Weil Q4 FY25 results: net profit down 11.8% to ₹25.74 crore, revenue up 2.1%
Grauer & Weil (India) Limited reported consolidated Q4 FY25 revenue of ₹340.11 crore, up 2.1% from Q4 FY24, while net profit fell 11.8% to ₹25.74 crore. EBITDA declined 24.8% to ₹29.53 crore and the EBITDA margin narrowed by 3.1 percentage points to 8.7%.
Key points
- Consolidated Q4 FY25 revenue was ₹340.11 crore, up 2.1% from ₹333.12 crore in Q4 FY24 and 23.8% from ₹274.80 crore in Q3 FY25.
- EBITDA fell to ₹29.53 crore from ₹39.28 crore a year earlier, while the EBITDA margin declined from 11.8% to 8.7%.
- Net profit was ₹25.74 crore, down 11.8% from ₹29.17 crore in Q4 FY24 and 40.3% from ₹43.12 crore in Q3 FY25; basic EPS was ₹0.57.
- Total expenses rose 5.2% to ₹317.97 crore in Q4 FY24 comparison, including a 19.2% rise in other expenses to ₹79.70 crore.
- For FY25, revenue was ₹1133.69 crore, up 6.1%, while PAT was ₹157.18 crore, up 7.5%, and EPS was ₹3.47.
How did Grauer & Weil perform in Q4 FY25?
Grauer & Weil reported consolidated revenue of ₹340.11 crore for Q4 FY25, up 2.1% from ₹333.12 crore in Q4 FY24 and 23.8% from ₹274.80 crore in Q3 FY25. EBITDA was ₹29.53 crore, down 24.8% year on year and 43.5% sequentially, while the EBITDA margin fell from 11.8% to 8.7% against Q4 FY24 and from 19.0% against Q3 FY25.
Profit before tax was ₹34.35 crore in Q4 FY25, down 12.4% from ₹39.20 crore in Q4 FY24 and 40.7% from ₹57.97 crore in Q3 FY25. Net profit was ₹25.74 crore, down 11.8% year on year and 40.3% sequentially, and basic EPS was ₹0.57, against ₹0.64 and ₹0.95 in the respective comparison periods.
On a standalone basis, Q4 FY25 revenue was ₹337.97 crore, up 1.1%, while PAT was ₹25.77 crore, compared with PAT before exceptional items of ₹28.75 crore. There was no exceptional item in the consolidated quarter.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 340.11 | 274.80 | 333.12 | +2.1% | +23.8% |
| Other income | 12.21 | 11.89 | 8.46 | +44.3% | +2.7% |
| Total expenses | 317.97 | 228.72 | 302.38 | +5.2% | +39.0% |
| EBITDA | 29.53 | 52.31 | 39.28 | −24.8% | −43.5% |
| EBITDA margin | 8.7% | 19.0% | 11.8% | −3.1 pp | −10.3 pp |
| Profit before tax | 34.35 | 57.97 | 39.20 | −12.4% | −40.7% |
| Tax | 8.61 | 14.85 | 10.03 | −14.2% | −42.0% |
| Net profit | 25.74 | 43.12 | 29.17 | −11.8% | −40.3% |
| EPS (₹) | 0.57 | 0.95 | 0.64 | −10.9% | −40.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Grauer & Weil's costs and profit?
Total expenses rose ₹15.59 crore, or 5.2%, to ₹317.97 crore from Q4 FY24. Cost of materials increased ₹2.97 crore, or 1.6%, to ₹189.71 crore, employee cost rose ₹2.15 crore, or 7.6%, to ₹30.40 crore, and depreciation increased ₹0.43 crore, or 8.0%, to ₹5.81 crore.
Other expenses increased ₹12.84 crore, or 19.2%, to ₹79.70 crore from ₹66.86 crore in Q4 FY24. Finance costs declined ₹1.58 crore, or 50.0%, to ₹1.58 crore, while other income rose ₹3.75 crore, or 44.3%, to ₹12.21 crore. There was no exceptional item in either quarter.
Tax expense fell ₹1.42 crore, or 14.2%, to ₹8.61 crore from ₹10.03 crore in Q4 FY24. Despite the increase in total expenses and lower finance costs and tax, EBITDA, PBT and PAT all declined year on year; the filing did not state a reason for the movements.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 189.71 | 186.74 | +2.97 | +1.6% |
| Employee cost | 30.40 | 28.25 | +2.15 | +7.6% |
| Finance costs | 1.58 | 3.16 | −1.58 | −50.0% |
| Depreciation | 5.81 | 5.38 | +0.43 | +8.0% |
| Other expenses | 79.70 | 66.86 | +12.84 | +19.2% |
| Total expenses | 317.97 | 302.38 | +15.59 | +5.2% |
| Other income | 12.21 | 8.46 | +3.75 | +44.3% |
| Tax | 8.61 | 10.03 | −1.42 | −14.2% |
Source: Company's results filing (XBRL).
How did Grauer & Weil do in FY25 as a whole?
For FY25, Grauer & Weil reported consolidated revenue of ₹1133.69 crore, up 6.1% from ₹1068.9 crore in FY24. Total income rose 7.3% to ₹1180.03 crore from ₹1099.89 crore, while PBT increased 6.8% to ₹209.59 crore from ₹196.22 crore.
PAT for FY25 was ₹157.18 crore, up 7.5% from ₹146.28 crore in FY24. Basic EPS rose to ₹3.47 from ₹3.23, while total revenue increased by ₹64.79 crore and total income increased by ₹80.14 crore.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 1,134 | 1,069 | +6.1% |
| Profit before tax | 209.59 | 196.22 | +6.8% |
| Net profit | 157.18 | 146.28 | +7.5% |
| EPS (₹) | 3.47 | 3.23 | +7.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 31 March 2025, total assets were ₹1285.49 crore against ₹1204.23 crore at 30 September 2024, and total equity was ₹939.28 crore against ₹869.66 crore. Borrowings fell to ₹7.75 crore from ₹8.93 crore, while cash declined to ₹107.95 crore from ₹136.37 crore.
Inventories rose to ₹156.32 crore from ₹153.05 crore, trade receivables increased to ₹198.76 crore from ₹157.8 crore, and trade payables rose to ₹143.6 crore from ₹101.98 crore. FY25 operating cash flow was ₹144.03 crore, compared with ₹159.09 crore in FY24, while investing cash flow was negative ₹120.48 crore against negative ₹108.15 crore.
Financing cash flow was negative ₹42.29 crore in FY25 compared with negative ₹20.24 crore in FY24. Capital expenditure was ₹44.05 crore in FY25 against ₹31.6 crore in FY24.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 1,285 | 1,204 |
| Total equity | 939.28 | 869.66 |
| Borrowings | 7.75 | 8.93 |
| Cash and equivalents | 107.95 | 136.37 |
| Inventories | 156.32 | 153.05 |
| Trade receivables | 198.76 | 157.80 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | 144.03 | 159.09 |
| Cash from investing | −120.48 | −108.15 |
| Cash from financing | −42.29 | −20.24 |
| Capital expenditure | 44.05 | 31.60 |
Source: Company's results filing (XBRL).
How has Grauer & Weil done over the last 8 quarters?
Revenue reached its highest level of the eight-quarter series in Q4 FY25 at ₹340.11 crore, after ₹274.80 crore in Q3 FY25, while the lowest was ₹200.26 crore in Q1 FY24. Revenue fell from ₹333.12 crore in Q4 FY24 to ₹264.09 crore in Q1 FY25, then moved to ₹254.69 crore before rising in the next two quarters.
Net profit peaked at ₹50.71 crore in Q1 FY25 and was lowest at ₹25.74 crore in Q4 FY25. The EBITDA margin also moved from a high of 24.2% in Q1 FY25 to a low of 8.7% in Q4 FY25, after 19.0% in Q3 FY25 and 11.8% in Q4 FY24. Thus, revenue rose to its series high in the latest quarter while profit and margin moved lower.
Which businesses drove the quarter?
Surface Finishings reported Q4 FY25 revenue of ₹291.8 crore, up 10.1% from ₹265.04 crore in Q4 FY24, and EBIT of ₹34.38 crore against ₹29.36 crore. Its reported EBIT margin was 11.8%.
Engineering reported revenue of ₹41.94 crore, down 30.3% from ₹60.21 crore, and EBIT of ₹3.56 crore against ₹10.05 crore. Shoppertainment revenue fell 17.0% to ₹7.13 crore from ₹8.59 crore, while EBIT was ₹1.0 crore against ₹5.65 crore.
Unallocable revenue rose 47.9% to ₹11.45 crore from ₹7.74 crore, with EBIT of ₹0.0 crore against ₹0.0 crore. The reported EBIT margins were 8.5% for Engineering, 14.0% for Shoppertainment and 0.0% for Unallocable.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Surface Finishings | 291.80 | +10.1% | 34.38 | 11.8% |
| Engineering | 41.94 | −30.3% | 3.56 | 8.5% |
| Shoppertainment | 7.13 | −17.0% | 1 | 14.0% |
| Unallocable | 11.45 | +47.9% | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the standalone and consolidated audited results for the quarter and year ended 31 March 2025 and declared that M M Nissim & Co. LLP issued an unmodified opinion. It recommended a dividend of 50%, or Re. 0.50 per equity share of Re. 1 each for FY25, subject to shareholder approval.
The board reappointed Dr. Prerna Goradia as an Independent Non-Executive Director for five consecutive years from 29 July 2025 to 28 July 2030, subject to shareholder approval. It also approved GMJ & Associates as Secretarial Auditors for FY 2025-26 through FY 2029-30, V. J. Talati & Co. as Cost Auditors for FY 2025-26, and SCA & Associates as Internal Auditors for FY 2025-26.
The company proposed holding its 67th Annual General Meeting on 11 August 2025. Its register of members and share transfer books were scheduled to remain closed from 5 August 2025 to 11 August 2025, both days inclusive, for dividend purposes.
What did the auditors point out?
The auditors included an emphasis of matter stating that mall operations were suspended pursuant to an order of the Maharashtra Pollution Control Board and a subsequent order dated 19 March 2025 of the Hon'ble Bombay High Court. The company has filed a Special Leave Petition, which is pending adjudication, and no provision was made for the matter and related claims; the auditors stated that their opinion was not modified in respect of this matter.
The board filing stated that M M Nissim & Co. LLP issued an unmodified opinion on the standalone and consolidated annual audited financial results for FY25. The excerpts did not report a qualified opinion or a going-concern emphasis.
How did other Commodity Chemicals companies do?
A total of 53 Commodity Chemicals companies filed for the quarter, compared with 63 companies for the profit measure. The median revenue growth among the peers was 7.4%, while Grauer & Weil reported revenue growth of 2.1%.
Of the other companies, 24 grew revenue slower than Grauer & Weil and 29 grew faster. A total of 31 peers reported higher profit.
| Grauer & Weil revenue growth (YoY) | +2.1% |
|---|---|
| Median of 53 other Commodity Chemicals companies | +7.4% |
| Companies with slower revenue growth than Grauer & Weil | 24 of 53 |
| Companies with faster revenue growth than Grauer & Weil | 29 of 53 |
| Companies whose net profit rose | 31 of 63 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Grauer & Weil's revenue in Q4 FY25?
Revenue from operations was ₹340.11 crore, up 2.1% from ₹333.12 crore in Q4 FY24 (consolidated).
Did Grauer & Weil make a profit in Q4 FY25?
Yes. Net profit was ₹25.74 crore, against a net profit of ₹29.17 crore in Q4 FY24.
What was Grauer & Weil's EPS in Q4 FY25?
Basic earnings per share were ₹0.57, against ₹0.64 in Q4 FY24.
When did Grauer & Weil announce its Q4 FY25 results?
On 26 May 2025, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Audited Financial Result For Quarter And Year Ended 31St March, 2025 (BSE, 16 May 2025) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 26-05-2025 (BSE, 26 May 2025) · PDF
- Audited Financial Results For The Year Ended 31-03-2025 (BSE, 26 May 2025) · PDF
- Corporate Action - Fix Book Closer For Dividend Purpose (BSE, 26 May 2025) · PDF
- Announcement under Regulation 30 (LODR)-Dividend Updates (BSE, 26 May 2025) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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