In This Article:
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Revenue from Operations: INR2,468 crore for FY25, similar to FY24 levels.
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Order Book: Highest-ever outstanding order book of INR7,266 crore, a year-on-year growth of 20%.
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New Orders: Highest-ever order inflow of INR3,506 crore, excluding GST.
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EBITDA Margin: Adjusted EBITDA margin for FY25 at 9.7%.
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Quarterly Revenue: INR655 crore for Q4 FY25, a 1% increase year-over-year.
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Quarterly EBITDA: INR30 crore for Q4 FY25, a decrease of 45% year-over-year.
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Quarterly Net Profit: INR4.8 crore for Q4 FY25, a reduction of 68% year-over-year.
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CapEx: INR16 crore for Q4 FY25; total CapEx for FY25 at INR61 crore.
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Gross Block: INR599 crore as of March 31, 2025.
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Long-term Borrowings: INR52 crore, including short-term maturity of INR34 crore.
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Short-term Borrowings: INR219 crore, excluding short-term maturity of INR34 crore.
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Inventories: INR322 crore, comprising INR144 crore of construction materials, INR156 crore of work in progress, and INR31 crore of finished goods.
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Credit Facilities Utilization: Out of total sanctioned credit facilities of INR1,497 crore, INR1,001 crore utilized.
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Fixed Deposits: Total fixed deposits of INR2.5 crore, with INR60 crore as lien-free deposits.
Release Date: May 23, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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PSP Projects Ltd (BOM:540544) closed FY25 with the highest-ever outstanding order book of INR7,266 crore, marking a year-on-year growth of 20%.
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The company completed 235 projects since inception, with a significant portion being private projects.
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PSP Projects Ltd has a strong focus on execution and aims to deliver high-quality outcomes and ensure timely completion across all projects in FY26.
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The company expects a healthy order inflow in FY26, with a target range of INR4,000 crore to INR5,000 crore.
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PSP Projects Ltd has a strategic partnership with Adani Group, which is expected to contribute significantly to future order inflows, with 80% to 90% of new orders anticipated to come from Adani Group.
Negative Points
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The company experienced muted revenue growth in FY25, with revenue from operations remaining almost similar to FY24 at INR2,468 crore.
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EBITDA for the quarter decreased by 45% on a YoY basis, with margins dropping to 4.65% from 7.98%.
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PSP Projects Ltd faced delays in project execution due to issues such as land acquisition and client clearances, impacting revenue.
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The company incurred additional expenses of INR62 crore related to new projects, affecting profitability.
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Working capital days increased significantly to 65 days in FY25, driven by higher receivables and inventory levels.