EPL (500135) Q1 24/25 earnings summary

Executive summary

• Achieved double-digit revenue growth of 10.7% year-over-year, with EBITDA up 20.8% and adjusted PAT up 35.4%, supported by strong regional contributions.

• EBITDA margin expanded to 19.1%, a 160 bps improvement year-over-year.

• ROCE improved to 15.9%, up 1.9 percentage points year-over-year.

• Growth driven by robust demand, innovation, and sustainability initiatives, with recognition at industry awards.

• Unaudited financial results for the quarter ended June 30, 2024, were approved with no material misstatements.

Financial highlights

• Revenue from operations reached INR 10,074 million, up 10.7% YoY; EBITDA at INR 1,921 million, up 20.8% YoY.

• Adjusted PAT up 35.4% YoY; reported PAT up 18.2% YoY; consolidated net profit after tax was ₹264 million, up from ₹154 million.

• EBITDA margin at 19.1%, up 160 bps YoY.

• Net debt reduced to INR 5,039 million from INR 6,026 million as of Mar 24; Net Debt/EBITDA improved to 0.67x.

• Capex for Q1FY25 was INR 442 million.

Outlook and guidance

• Targeting sustained double-digit revenue growth and EBITDA margins above 20%.

• Aggressive expansion in 'Personal Care & Beyond' and scaling up Brazil operations.

• Continued focus on sustainability, automation, and margin expansion.

• Acquired 49% stake in Clean Max Aria Private Limited post-quarter for captive wind and solar power.

• No major price corrections pending; pricing environment expected to stabilize.