Ceinsys Tech (538734) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue from operations reached ₹7,384.17 lakhs (INR 738 Mn), up 37% year-over-year, with EBITDA at INR 132 Mn, up 16% year-over-year.

• PAT for Q1 FY25 was ₹1,190.93 lakhs (INR 119 Mn), a 42% increase year-over-year, with a PAT margin of 16.12%.

• The company maintained strong topline growth despite the impact of general elections, driven by successful project implementations and new business leads.

• Order book stands at ~INR 750 crores, with a bid pipeline exceeding INR 200 crores.

• Board approved unaudited standalone and consolidated financial results for Q1 FY25 and noted the limited review reports from statutory auditors.

Financial highlights

• EBITDA margin for Q1 FY25 was 17.89%, down 330 bps year-over-year but up 218 bps sequentially.

• Diluted EPS for Q1 FY25 was ₹7.29/share, up 34% year-over-year.

• FY24 revenue was INR 2,529 Mn, with a 3-year revenue CAGR of 11%.

• 3-year EBITDA CAGR was 40%, and 3-year PAT CAGR was 160%.

• Standalone net profit for Q1 FY25 was ₹909.70 lakhs, up from ₹455.08 lakhs in Q1 FY24.

Outlook and guidance

• Growth strategy focuses on GeoAI, spatial analytics, digital twins, AR/VR, and leveraging India's geospatial market growth (CAGR 13.5% by 2025).

• Manufacturing vertical targets rapid expansion in the EV ecosystem and further acquisitions in geospatial, manufacturing, and technology domains.

• Plans to capitalize on government initiatives like National Infrastructure Pipeline and Jal Jeevan Mission, with a proposed USD 15 billion budget for water projects.

• The company adopted a new segment structure to align with future business plans and resource allocation.

• The Board approved the Ceinsys Employee Stock Option Scheme 2024, granting 650,000 stock options to eligible employees.