Jyothy Labs (532926) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 consolidated revenue reached ₹704 crore (₹70,445 lacs), up 4% year-on-year, with 8% volume growth; nine-month revenue at ₹2,180 crore (₹2,18,002 lacs), also up 4% year-on-year.

• Gross margin for Q3 FY25 held steady at 49.8%; nine-month gross margin improved to 50.4% from 48.9% year-on-year.

• Operating EBITDA margin for Q3 FY25 was 16.4% (₹115.8 crore), down from 17.5% last year; nine-month EBITDA margin rose to 17.8% (₹387.7 crore).

• Q3 FY25 PAT was ₹87.4 crore (₹8,740 lacs), down from ₹90.9 crore; nine-month PAT increased 1% to ₹294.1 crore.

• Financial results for the quarter and nine months ended December 31, 2024, were approved and reviewed by the Board and statutory auditors, with no material misstatements.

Financial highlights

• Q3 FY25 revenue grew 4% year-on-year to ₹704 crore (₹70,445 lacs), with 8% volume growth; nine-month revenue at ₹2,180 crore (₹2,18,002 lacs), up 4%.

• Gross margin stable at 49.8% for Q3 FY25; nine-month gross margin at 50.4%.

• EBITDA margin for Q3 FY25 was 16.4% (down 110 bps); nine-month EBITDA margin at 17.8% (up 10 bps).

• Q3 FY25 PAT margin was 12.4%, down from 13.4%; nine-month PAT margin was 13.5%.

• Advertising and promotion spend for Q3 FY25 was ₹63.7 crore (9% of revenue); nine-month spend rose 10.6% to ₹186.3 crore (8.5% of revenue).

Outlook and guidance

• Price increases in body soap taken in Q3 will impact Q4; further pricing actions planned depending on input costs and market conditions.

• Management remains focused on double-digit volume growth but is cautious due to challenging market conditions.

• Margin guidance maintained at 16–17% for the near term, with close monitoring of input price volatility.

• Focus on maintaining productivity, efficiency improvements, and adapting to changing channel dynamics.

• Q4 margin protection is a key focus; volume growth in Q4 expected to remain challenging.