Avaada Electro (2596819D) Q4 24/25 earnings summary

Executive summary

• Commissioned first module manufacturing facility with Topcon cell technology at Dadri, Uttar Pradesh, generating revenue from September 2024; foundation laid for a new 5 GW solar cell and 3 GW module facility in Nagpur, Maharashtra.

• Revenue from operations reached INR 9,116.15 million for FY 2024-25, with net profit after tax at INR 1,733.00 million, a significant increase from the previous year.

• No dividend declared; profits retained to strengthen financial position and support growth.

Financial highlights

• Revenue from operations: INR 9,116.15 million (FY25) vs. INR 0 (FY24); total income: INR 9,330.87 million (FY25) vs. INR 302.37 million (FY24).

• Profit before tax: INR 2,316.41 million (FY25) vs. INR 301.68 million (FY24); net profit after tax: INR 1,733.00 million (FY25) vs. INR 225.62 million (FY24).

• EPS: INR 4.39 (FY25) vs. INR 0.57 (FY24).

• Total assets: INR 20,448.82 million (FY25) vs. INR 8,694.71 million (FY24).

• Current ratio: 1.10 (FY25) vs. 9.02 (FY24); debt-equity ratio: 1.01 (FY25) vs. 0.95 (FY24).

Outlook and guidance

• India’s solar market is expanding rapidly, with government incentives (PLI, DCR, BCD) supporting domestic manufacturing.

• Company aims to scale up to 10 GW integrated polysilicon-to-module production capability in the long term.

• Market trends indicate strong demand for solar modules, with India positioned as a key alternative to China.