EPL (500135) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 saw strong performance with revenue up 8.4% year-over-year, led by 21% growth in Europe and robust results in Americas and EAP.

• EBITDA margin improved to 20%, up 188 bps, with absolute EBITDA up 19.7% year-over-year.

• PAT increased by 72% year-over-year, driven by EBITDA growth and stable depreciation and interest costs.

• Interim dividend of INR 2.50 per share declared for FY25.

• Board approved unaudited financial results and noted changes in board composition.

Financial highlights

• Q2 FY25 consolidated revenue was INR 10,862 million, up 8.4% year-over-year.

• EBITDA reached INR 2,167 million, up 19.7% year-over-year; margin at 20%.

• PAT was INR 870 million, up 72.3% year-over-year; EPS at 2.73, up 73%.

• Net debt reduced to INR 5,949 million; ROCE at 16.5%, up 260 bps year-over-year.

• Interim dividend of INR 2.50 per share declared.

Outlook and guidance

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

• Aggressive expansion in 'Personal Care & Beyond' and Brazil, with continued focus on sustainability and margin expansion.

• No change to FY27 aspirational targets; focus remains on delivering current guidance.

• Board and auditors did not raise any material uncertainties or misstatements in the outlook.