EPL (500135) Q4 24/25 earnings summary

Executive summary

• Q4 FY25 saw revenue growth of 7.4%, EBITDA up 17.7%, and adjusted PAT up 42.4% year-over-year, with 11 consecutive quarters of EBITDA margin above 20%.

• Full-year FY25 revenue grew 7.6% to Rs. 42,133 million, EBITDA up 17.5%, and adjusted PAT up 44.6%; EPS improved to INR 11.38.

• 'Personal Care & Beyond' contributed 48% of tube revenue, growing at 10.3% YoY, with beauty and cosmetics segment delivering over 20% growth in Q4.

• Sustainability initiatives advanced, with 33% of the portfolio now recyclable, EcoVadis Gold rating, and multiple ESG awards.

• Audited results approved with an unmodified opinion; final dividend of Rs. 2.50 per share recommended.

Financial highlights

• Q4FY25 revenue: INR 11,054 million (+7.4% YoY); EBITDA: INR 2,246 million (+17.7% YoY, margin 20.3%); adjusted PAT: INR 1,179 million (+42.4% YoY); adjusted EPS: INR 3.69.

• FY25 consolidated revenue: Rs. 42,133 million (+7.6% YoY); net profit after tax: Rs. 3,638 million (+73.2% YoY); consolidated EPS: Rs. 11.27.

• Net debt reduced to INR 4,568 million (Net Debt/EBITDA: 0.54x); ROCE improved to 18%.

• Final dividend proposed at Rs. 2.50 per share for FY25.

• Capex for FY25 was INR 3,631 million.

Outlook and guidance

• Targeting sustained double-digit revenue growth and continued margin expansion, led by 'Personal Care & Beyond' and sustainability.

• Capacity expansion in Brazil and new greenfield plant in Thailand to support growth.

• CapEx for FY26 planned at INR 380-390 crore, supporting growth and greenfield projects.

• Minimal impact expected from US tariffs due to local manufacturing and contractual pass-throughs.

• Board recommended a final dividend, reflecting confidence in future cash flows and profitability.