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KSE Q4 FY25 results: net profit up 83.8% to ₹34.79 crore, revenue down 5.9%
KSE Ltd reported standalone revenue of ₹391.81 crore in Q4 FY25, down 5.9% from ₹416.58 crore in the year-ago quarter. Profit before tax rose 81.4% to ₹47.12 crore and net profit rose 83.8% to ₹34.79 crore, lifting the EBITDA margin to 11.7% from 6.3%.
Key points
- Q4 FY25 revenue was ₹391.81 crore, down ₹24.77 crore or 5.9% from Q4 FY24.
- EBITDA was ₹45.79 crore, up ₹19.49 crore or 74.1% from ₹26.30 crore a year earlier.
- Net profit was ₹34.79 crore, up ₹15.86 crore or 83.8%, and basic EPS was ₹108.72 against ₹59.15.
- Total expenses fell ₹43.84 crore or 11.2% to ₹348.34 crore, with cost of materials down ₹28.81 crore.
- For FY25, revenue was ₹1,649.53 crore while net profit was ₹91.31 crore and EPS was ₹285.34.
How did KSE perform in Q4 FY25?
KSE's standalone revenue for Q4 FY25 was ₹391.81 crore, down ₹24.77 crore or 5.9% from ₹416.58 crore in Q4 FY24 and down ₹20.13 crore or 4.9% from ₹411.94 crore in Q3 FY25. Total income was ₹395.46 crore against ₹417.91 crore a year earlier and ₹413.54 crore in the previous quarter.
EBITDA for the January–March 2025 quarter was ₹45.79 crore, up ₹19.49 crore or 74.1% from ₹26.30 crore in Q4 FY24 and up ₹17.46 crore or 61.6% from ₹28.33 crore in Q3 FY25. The EBITDA margin was 11.7%, against 6.3% a year earlier and 6.9% in the previous quarter.
Profit before tax was ₹47.12 crore, up ₹21.15 crore or 81.4% from ₹25.97 crore a year earlier, and net profit was ₹34.79 crore, up ₹15.86 crore or 83.8% from ₹18.93 crore. Basic EPS was ₹108.72 against ₹59.15 in Q4 FY24 and ₹65.67 in Q3 FY25. These are standalone figures.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 391.81 | 411.94 | 416.58 | −5.9% | −4.9% |
| Other income | 3.65 | 1.60 | 1.34 | +172.4% | +128.1% |
| Total expenses | 348.34 | 385.81 | 392.18 | −11.2% | −9.7% |
| EBITDA | 45.79 | 28.33 | 26.30 | +74.1% | +61.6% |
| EBITDA margin | 11.7% | 6.9% | 6.3% | +5.4 pp | +4.8 pp |
| Profit before tax | 47.12 | 27.75 | 25.97 | +81.4% | +69.8% |
| Tax | 12.33 | 6.73 | 7.05 | +74.9% | +83.2% |
| Net profit | 34.79 | 21.02 | 18.93 | +83.8% | +65.5% |
| EPS (₹) | 108.72 | 65.67 | 59.15 | +83.8% | +65.6% |
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 KSE's costs and profit?
Total expenses fell ₹43.84 crore or 11.2% to ₹348.34 crore from ₹392.18 crore in Q4 FY24, and cost of materials consumed declined ₹28.81 crore or 9.5% to ₹274.58 crore from ₹303.39 crore. Employee benefit expense rose ₹0.30 crore or 1.7% to ₹17.71 crore, finance costs rose ₹0.07 crore or 12.3% to ₹0.64 crore, and depreciation and amortisation rose ₹0.35 crore or 26.1% to ₹1.69 crore.
Other expenses rose ₹1.88 crore or 7.3% to ₹27.73 crore from ₹25.85 crore, while other income rose ₹2.31 crore or 172.4% to ₹3.65 crore from ₹1.34 crore. There was no exceptional item in Q4 FY25, against a gain of ₹0.24 crore in the year-ago quarter. Tax expense was ₹12.33 crore, up ₹5.28 crore or 74.9% from ₹7.05 crore.
Against Q3 FY25, total expenses fell ₹37.47 crore or 9.7%, with cost of materials down ₹46.82 crore or 14.6% to ₹274.58 crore, while other income rose ₹2.05 crore or 128.1% to ₹3.65 crore. The previous quarter included a gain of ₹0.03 crore from an exceptional item. Tax was ₹12.33 crore against ₹6.73 crore.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 274.58 | 303.39 | −28.81 | −9.5% |
| Employee cost | 17.71 | 17.41 | +0.30 | +1.7% |
| Finance costs | 0.64 | 0.57 | +0.07 | +12.3% |
| Depreciation | 1.69 | 1.34 | +0.35 | +26.1% |
| Other expenses | 27.73 | 25.85 | +1.88 | +7.3% |
| Total expenses | 348.34 | 392.18 | −43.84 | −11.2% |
| Other income | 3.65 | 1.34 | +2.31 | +172.4% |
| Tax | 12.33 | 7.05 | +5.28 | +74.9% |
| Exceptional items | none | +0.24 (gain) |
Source: Company's results filing (XBRL).
How did KSE do in FY25 as a whole?
For the full year FY25, standalone revenue was ₹1,649.53 crore, down ₹33.96 crore or 2.0% from ₹1,683.49 crore in FY24, and total income was ₹1,657.59 crore against ₹1,687.46 crore.
Profit before tax rose ₹98.48 crore or 406.3% to ₹122.72 crore from ₹24.24 crore, and net profit rose ₹73.7 crore or 418.5% to ₹91.31 crore from ₹17.61 crore. Basic EPS for the year was ₹285.34 against ₹55.03 in FY24.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 1,650 | 1,683 | −2.0% |
| Profit before tax | 122.72 | 24.24 | +406.3% |
| Net profit | 91.31 | 17.61 | +418.5% |
| EPS (₹) | 285.34 | 55.03 | +418.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 31 March 2025, total assets were ₹356.73 crore against ₹330.53 crore at 30 September 2024, and total equity was ₹296.75 crore against ₹249.14 crore. Borrowings stood at ₹24.06 crore against ₹22.86 crore, while cash and cash equivalents were ₹16.39 crore against ₹22.84 crore.
Inventories were ₹112.05 crore against ₹175.19 crore at the previous balance sheet date, trade receivables were ₹1.71 crore against ₹12.94 crore, and trade payables were ₹9.14 crore against ₹25.86 crore. The audited balance sheet filed with the results also showed total assets of ₹35,673.09 lakh at 31 March 2025.
For FY25, operating cash flow was ₹142.67 crore against an outflow of ₹15.02 crore in FY24. Investing cash flow was negative ₹118.19 crore compared with ₹23.73 crore in FY24, financing cash flow was negative ₹18.56 crore against negative ₹7.17 crore, and capital expenditure was ₹14.36 crore against ₹7.78 crore.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 356.73 | 330.53 |
| Total equity | 296.75 | 249.14 |
| Borrowings | 24.06 | 22.86 |
| Cash and equivalents | 16.39 | 22.84 |
| Inventories | 112.05 | 175.19 |
| Trade receivables | 1.71 | 12.94 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | 142.67 | −15.02 |
| Cash from investing | −118.19 | 23.73 |
| Cash from financing | −18.56 | −7.17 |
| Capital expenditure | 14.36 | 7.78 |
Source: Company's results filing (XBRL).
How has KSE done over the last 8 quarters?
Revenue reached its highest level of the eight quarters shown in Q2 FY24 at ₹436.54 crore and its lowest in Q4 FY25 at ₹391.81 crore, the current quarter. The direction is downward across the last two quarters, from ₹414.35 crore in Q2 FY25 to ₹411.94 crore in Q3 FY25 and then to ₹391.81 crore.
Net profit moved in the opposite direction, rising from a loss of ₹1.42 crore in Q2 FY24 to ₹34.79 crore in Q4 FY25, the highest level of the period shown. The EBITDA margin peaked at 11.7% in Q4 FY25 and bottomed at negative 0.3% in Q1 FY24. Profit rose year on year in each of the last two quarters.
Which businesses drove the quarter?
Animal Feed Division revenue was ₹314.32 crore in Q4 FY25, down 12.7% from ₹360.06 crore in Q4 FY24, with segment EBIT of ₹23.99 crore against ₹27.8 crore. The segment's EBIT margin was 7.6%.
Oil Cake Processing Division revenue rose 16.9% to ₹113.34 crore from ₹96.98 crore, and segment EBIT was ₹21.31 crore against a loss of ₹0.71 crore in the year-ago quarter. The EBIT margin was 18.8%.
Dairy Division revenue was ₹14.1 crore against ₹14.13 crore, down 0.2%, with segment EBIT of a loss of ₹1.93 crore compared with a loss of ₹1.76 crore. The EBIT margin was negative 13.7%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Animal Feed Division | 314.32 | −12.7% | 23.99 | 7.6% |
| Oil Cake Processing Division | 113.34 | +16.9% | 21.31 | 18.8% |
| Dairy Division | 14.10 | −0.2% | −1.93 | -13.7% |
Source: Company's results filing (XBRL segment data).
How did other Animal Feed companies do?
Six other Animal Feed companies that have filed this quarter were compared. Their median revenue growth was 49.0%, and all six grew faster than KSE, while none grew slower. Of the five peers for which profit was compared, four reported higher profit.
| KSE revenue growth (YoY) | −5.9% |
|---|---|
| Median of 6 other Animal Feed companies | +49.0% |
| Companies with slower revenue growth than KSE | 0 of 6 |
| Companies with faster revenue growth than KSE | 6 of 6 |
| Companies whose net profit rose | 4 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was KSE's revenue in Q4 FY25?
Revenue from operations was ₹391.81 crore, down 5.9% from ₹416.58 crore in Q4 FY24 (standalone).
Did KSE make a profit in Q4 FY25?
Yes. Net profit was ₹34.79 crore, against a net profit of ₹18.93 crore in Q4 FY24.
What was KSE's EPS in Q4 FY25?
Basic earnings per share were ₹108.72, against ₹59.15 in Q4 FY24.
When did KSE announce its Q4 FY25 results?
On 27 May 2025, in a filing to the BSE.
Sources
- Board Meeting Intimation for Prior Intimation Under Regulation 29 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 22 May 2025) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 27 May 2025) · PDF
- Audited Financial Results For Quarter/Year Ended 31St March 2025 (BSE, 27 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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