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Niraj Cement Structurals Q4 FY25 results: net profit up 16.7% to ₹8.47 crore, revenue up 24.6%
Niraj Cement Structurals Limited reported consolidated Q4 FY25 revenue of ₹167.03 crore, up 24.6% from Q4 FY24, while net profit rose to ₹8.47 crore. EBITDA increased by ₹0.13 crore to ₹8.23 crore, but the EBITDA margin declined to 4.9% from 6.0%.
Key points
- Consolidated revenue was ₹167.03 crore, up ₹32.98 crore or 24.6% from Q4 FY24 and ₹47.26 crore or 39.5% from Q3 FY25.
- Net profit was ₹8.47 crore, up ₹1.21 crore or 16.7% year on year and ₹6.30 crore or 290.3% from Q3 FY25.
- EBITDA was ₹8.23 crore, while the margin declined to 4.9% from 6.0% a year earlier but rose to 4.9% from 2.0% in Q3 FY25.
- Basic EPS was ₹1.35, down ₹0.46 or 25.4% from Q4 FY24 and up ₹0.85 or 170.0% from Q3 FY25.
- For FY25, revenue was ₹507.14 crore and net profit was ₹15.08 crore, compared with ₹470.85 crore and ₹9.72 crore in FY24.
How did Niraj Cement Structurals perform in Q4 FY25?
Niraj Cement Structurals reported consolidated revenue of ₹167.03 crore in Q4 FY25, up 24.6% from ₹134.05 crore in Q4 FY24. Against Q3 FY25, revenue rose 39.5% from ₹119.77 crore. Total income was ₹169.30 crore, while EBITDA was ₹8.23 crore and the EBITDA margin was 4.9%.
Consolidated profit before tax rose to ₹10.77 crore from ₹9.56 crore in Q4 FY24 and ₹2.92 crore in Q3 FY25. Net profit was ₹8.47 crore, compared with ₹7.26 crore and ₹2.17 crore, respectively. Basic EPS was ₹1.35, down from ₹1.81 year on year but up from ₹0.50 in the previous quarter.
On the standalone basis, revenue was ₹166.61 crore and net profit was ₹8.14 crore. Standalone profit before tax was ₹7.47 crore. The board approved the audited standalone and consolidated results on 22 May 2025 and declared an unmodified opinion for the audited annual financial results.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 167.03 | 119.77 | 134.05 | +24.6% | +39.5% |
| Other income | 2.26 | 1.38 | 1.73 | +30.6% | +63.8% |
| Total expenses | 159.44 | 117.96 | 126.22 | +26.3% | +35.2% |
| EBITDA | 8.23 | 2.35 | 8.10 | +1.6% | +250.2% |
| EBITDA margin | 4.9% | 2.0% | 6.0% | −1.1 pp | +2.9 pp |
| Profit before tax | 10.77 | 2.92 | 9.56 | +12.7% | +268.8% |
| Tax | 2.30 | 0.75 | 2.30 | +0.0% | +206.7% |
| Net profit | 8.47 | 2.17 | 7.26 | +16.7% | +290.3% |
| EPS (₹) | 1.35 | 0.50 | 1.81 | −25.4% | +170.0% |
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 Niraj Cement Structurals' costs and profit?
Total expenses rose ₹33.22 crore or 26.3% to ₹159.44 crore from Q4 FY24, led by higher cost of materials, which increased ₹32.74 crore or 26.2% to ₹157.87 crore. Other expenses rose ₹2.86 crore or 176.5% to ₹4.48 crore, while depreciation rose ₹0.36 crore or 144.0% to ₹0.61 crore.
Employee cost increased ₹0.10 crore or 27.8% to ₹0.46 crore from Q4 FY24, while finance costs were unchanged at ₹0.02 crore. Other income increased ₹0.53 crore or 30.6% to ₹2.26 crore. Tax was unchanged at ₹2.30 crore.
Q4 FY25 included an exceptional gain of ₹0.91 crore, compared with no exceptional item in Q4 FY24. Profit before tax rose ₹1.21 crore or 12.7% to ₹10.77 crore, while net profit rose ₹1.21 crore or 16.7% to ₹8.47 crore.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 157.87 | 125.13 | +32.74 | +26.2% |
| Employee cost | 0.46 | 0.36 | +0.10 | +27.8% |
| Finance costs | 0.02 | 0.02 | 0 | +0.0% |
| Depreciation | 0.61 | 0.25 | +0.36 | +144.0% |
| Other expenses | 4.48 | 1.62 | +2.86 | +176.5% |
| Total expenses | 159.44 | 126.22 | +33.22 | +26.3% |
| Other income | 2.26 | 1.73 | +0.53 | +30.6% |
| Tax | 2.30 | 2.30 | 0 | +0.0% |
| Exceptional items | +0.91 (gain) | none |
Source: Company's results filing (XBRL).
How did Niraj Cement Structurals do in FY25 as a whole?
For FY25, consolidated revenue was ₹507.14 crore, up ₹36.29 crore or 7.7% from ₹470.85 crore in FY24. Total income rose 7.3% to ₹513.47 crore from ₹478.60 crore, while profit before tax increased 54.2% to ₹20.08 crore from ₹13.02 crore.
Net profit for FY25 was ₹15.08 crore, up ₹5.36 crore or 55.1% from ₹9.72 crore in FY24. Basic EPS increased from ₹2.57 to ₹2.99, a rise of ₹0.42 or 16.3%.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 507.14 | 470.85 | +7.7% |
| Profit before tax | 20.08 | 13.02 | +54.2% |
| Net profit | 15.08 | 9.72 | +55.1% |
| EPS (₹) | 2.99 | 2.57 | +16.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 31 March 2025, total assets were ₹384.17 crore, compared with ₹242.09 crore at 30 September 2024. Total equity rose to ₹241.95 crore from ₹157.21 crore, while borrowings fell to ₹2.22 crore from ₹2.47 crore and cash rose to ₹41.33 crore from ₹26.39 crore.
Inventories were ₹7.15 crore, down from ₹9.09 crore, and trade receivables rose to ₹68.98 crore from ₹67.97 crore. Trade payables increased to ₹36.09 crore from ₹21.78 crore. In FY25, operating cash flow was negative ₹77.95 crore, compared with ₹26.91 crore in FY24.
Investing cash flow for FY25 was ₹4.46 crore, against negative ₹4.86 crore in FY24, while financing cash flow was ₹75.24 crore compared with negative ₹25.71 crore. FY24 capex was ₹3.90 crore, and its closing cash was ₹1.39 crore.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 384.17 | 242.09 |
| Total equity | 241.95 | 157.21 |
| Borrowings | 2.22 | 2.47 |
| Cash and equivalents | 41.33 | 26.39 |
| Inventories | 7.15 | 9.09 |
| Trade receivables | 68.98 | 67.97 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | −77.95 | 26.91 |
| Cash from investing | 4.46 | −4.86 |
| Cash from financing | 75.24 | −25.71 |
| Capital expenditure | 0 | 3.90 |
Source: Company's results filing (XBRL).
How has Niraj Cement Structurals done over the last 8 quarters?
Across the last eight quarters, revenue and net profit were both highest in Q4 FY25, at ₹167.03 crore and ₹8.47 crore. Revenue was lowest at ₹82.61 crore in Q1 FY25, while net profit was lowest at ₹0.36 crore in Q1 FY24.
The EBITDA margin peaked at 6.0% in Q4 FY24 and bottomed at negative 0.6% in Q1 FY24. It recovered to 4.9% in Q4 FY25 after 2.0% in Q3 FY25, while revenue and profit rose from the preceding quarter. Profit increased year on year in each of the last seven quarters.
What did the auditors point out?
The board declared an unmodified opinion for the annual audited financial results for FY25. The auditor’s report included an emphasis of matter, drawing attention to Note No. 6 of the consolidated financial results and stating that the company reversed contractual revenue and corresponding sub-contracting costs and other direct expenses, mainly due to prudent accounting practices and contractual reasons.
The auditor stated that disputed receipts and payment transactions relating to those contracts remained unsettled and were reflected under “Other Current Liabilities” and “Other Current Assets”. The company was in the process of resolving the disputes. The report also drew attention to Note No. 7 concerning the office of the Director General of GST Intelligence; the available excerpt does not include the full explanation.
How did Niraj Cement Structurals shares react?
After the filing, Niraj Cement Structurals rose 1.1% in five minutes, 2.4% in 15 minutes and 6.1% in 30 minutes. The stock closed 2.2% above its pre-results close on the reaction day; by the next day’s close it was up 1.7% and by the fifth day’s close it was up 1.2% from the same pre-results close.
The Nifty Microcap 250 rose 0.7% on the reaction day, 1.2% by the next day’s close and 2.1% by the fifth day’s close. No industry median was available for a like-for-like comparison. Earlier reaction-day moves were negative 4.6% on 11 February 2025, positive 5.0% on 14 November 2024, negative 7.7% on 13 August 2024 and positive 5.5% on 23 May 2024.
| After the filing | Stock |
|---|---|
| 5 minutes | +1.1% |
| 15 minutes | +2.4% |
| 30 minutes | +6.1% |
| Reaction day | +2.2% |
| Next day | +1.7% |
| 5 days | +1.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 February 2025 | −4.6% |
| 14 November 2024 | +5.0% |
| 13 August 2024 | −7.7% |
| 23 May 2024 | +5.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Niraj Cement Structurals' revenue in Q4 FY25?
Revenue from operations was ₹167.03 crore, up 24.6% from ₹134.05 crore in Q4 FY24 (consolidated).
Did Niraj Cement Structurals make a profit in Q4 FY25?
Yes. Net profit was ₹8.47 crore, against a net profit of ₹7.26 crore in Q4 FY24.
What was Niraj Cement Structurals' EPS in Q4 FY25?
Basic earnings per share were ₹1.35, against ₹1.81 in Q4 FY24.
How did Niraj Cement Structurals shares react to the Q4 FY25 results?
On the reaction day the stock moved +2.2% from the previous close.
When did Niraj Cement Structurals announce its Q4 FY25 results?
On 22 May 2025, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 22 May 2025) · PDF
- Outcome of Board Meeting (NSE, 23 May 2025) · PDF
- Updates (NSE, 23 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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