SJS Enterprises (SJS) Q3 24/25 earnings summary

Executive summary

• Achieved 31st consecutive quarter of outperformance, with consolidated revenue of INR 1,785.6 million in Q3 FY25, up 11.2% year-over-year, driven by strong growth in the passenger vehicle segment and new customer wins.

• PAT grew 32.9% YoY to INR 277.1 million, with margin expansion driven by higher sales, operational efficiencies, and lower finance costs.

• Domestic sales grew 12.3% YoY, with passenger vehicle business up 22.4% YoY, significantly outpacing industry growth.

• Secured major export orders, including a large U.S. consumer durables contract, and commenced infrastructure for a new cover glass facility.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were approved, with statutory auditor review reports issued and no qualifications noted.

Financial highlights

• Consolidated revenue from operations for Q3 FY25 was INR 1,785.6 million, up 11.2% YoY.

• Consolidated EBITDA reached INR 482 million, up 16.9% YoY, with margin improvement to 26.6%.

• PAT grew 32.9% YoY to INR 277.1 million, with PAT margin at 15.5%, up 253 bps YoY.

• Net cash position at INR 754.4 million as of Dec 31, 2024; free cash flow for 9M FY25 at INR 1,003 million.

• Interest cost reduced from INR 25.1 million to INR 9.5 million YoY due to debt repayment.

Outlook and guidance

• Targeting export share of 14%-15% of consolidated sales by FY28, with large orders from Stellantis and Whirlpool supporting this ambition.

• Expects to outperform industry growth by over 1.5x in FY25, driven by premiumization, mega OEM accounts, exports, and WPI acquisition.

• CapEx of INR 100 crore for chrome plating/painting in Pune and INR 40 crore for cover glass facility at Hosur to expand production and address new opportunities.

• Focus on new product development, capacity expansion, and global market penetration.

• Confident of maintaining double-digit growth and superior margins, with focus on premiumization and operational efficiency.