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• Standalone Revenue (Q4 FY25): INR142.3 crore, up 7.6% YoY from INR132.2 crore in Q4 FY24.

• Standalone EBITDA (Q4 FY25): INR15.7 crore, up 26.3% YoY with an EBITDA margin of 11% compared to 9.4% in Q4 FY24.

• Standalone Profit After Tax (Q4 FY25): INR3.8 crore, compared to a loss of INR6 crore in Q4 FY24.

• Standalone Revenue (FY25): INR5,537.6 crore, up 6.7% YoY from INR5,033.9 crore in FY24.

• Standalone EBITDA (FY25): INR60.6 crore, up 38.2% YoY with an EBITDA margin of 11.3% compared to 8.7% in FY24.

• Standalone Profit After Tax (FY25): INR14.1 crore, compared to a loss of INR4.7 crore in FY24.

• Consolidated Revenue (Q4 FY25): INR147.2 crore, up 8.5% YoY from INR135.7 crore in Q4 FY24.

• Consolidated EBITDA (Q4 FY25): INR15.2 crore, up 30% YoY with an EBITDA margin of 10.2% compared to 8.5% in Q4 FY24.

• Consolidated Profit After Tax (Q4 FY25): INR2.4 crore, compared to a loss of INR8.2 crore in Q4 FY24.

• Consolidated Revenue (FY25): INR554 crore, up 5.9% YoY from INR522.9 crore in FY24.

• Consolidated EBITDA (FY25): INR57.2 crore, up 43.9% YoY with an EBITDA margin of 10.3% compared to 7.6% in FY24.

• Consolidated Profit After Tax (FY25): INR7 crore, compared to a loss of INR13 crore in FY24.

• Dividend: Final dividend of INR1.5 per share, cumulative dividend of INR2.5 per share for FY25.

• Warning! GuruFocus has detected 4 Warning Signs with BOM:532934.

Release Date: May 19, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• PPAP Automotive Ltd (BOM:532934) secured new orders totaling INR601 crore, including INR208 crore from the EV segment, indicating strong growth potential in both ICE and EV platforms.

• The company achieved a significant milestone by onboarding Mahindra & Mahindra as a direct customer, expanding its OEM partnerships.

• The industrial product division demonstrated strong growth, doubling sales compared to the previous year and beginning its entry into the export market.

• The aftermarket vertical achieved a 16% growth, now accounting for 4% of the group's total revenues, with over 550 new SKUs launched during the year.

• The commercial tool room business, Meraki Precision Molds, delivered an impressive 75% year-over-year growth, contributing approximately 4% to the overall consolidated revenue.

Negative Points

• The battery division's capacity utilization stood at a mere 5% for the financial year '25, indicating underperformance in this segment.

• The company achieved the lower end of its revenue guidance due to delays in the start of production for new models and slower sales growth in the battery division.

• Despite improvements, the company still faces challenges in achieving its target EBITDA margins, with ongoing efforts needed to improve material yield ratios and manpower efficiency.

• The automotive industry faced a challenging macro environment with modest growth, impacting overall demand and sales.

• The company's profitability was impacted by slower-than-anticipated sales growth in the battery division, contributing to a temporary slowdown in overall outlook.