M M Forgings (522241) Q3 24/25 earnings summary

Executive summary

• Revenue and profit declined year-over-year due to a slowdown in the Indian automotive sector and export uncertainties, but the company maintained steady operational performance and continued product development initiatives.

• Export sales grew 9% year-over-year, now contributing 39.7% of total sales for YTD Dec 2024.

• The Board approved the appointment of Smt. Shyamala S as a Non-Executive Independent Director, effective 31 March 2025, and noted the completion of Smt. Kavitha Vijay’s tenure.

Financial highlights

• Standalone revenue from operations for Q3FY25 was ₹364.24 Cr, down from ₹388.11 Cr in Q3FY24; YTD Dec 2024 revenue was ₹1,122.19 Cr, down from ₹1,138.50 Cr YTD Dec 2023.

• Standalone EBITDA for YTD Dec 2024 increased 6% to ₹242.97 Cr; PAT for YTD Dec 2024 was ₹100.03 Cr, slightly down from ₹103.69 Cr YTD Dec 2023.

• Consolidated revenue for Q3FY25 was ₹374.09 Cr, down from ₹398.75 Cr in Q3FY24; YTD Dec 2024 consolidated revenue was ₹1,154.54 Cr, down from ₹1,165.58 Cr YTD Dec 2023.

• Consolidated EBITDA for YTD Dec 2024 was ₹239.37 Cr, up from ₹230.04 Cr YTD Dec 2023; PAT after exceptional items for YTD Dec 2024 was ₹88.57 Cr, down from ₹98.00 Cr YTD Dec 2023.

• Export sales for YTD Dec 2024 were ₹440.30 Cr, up from ₹404.63 Cr YTD Dec 2023.

Outlook and guidance

• Management remains focused on product development, customer satisfaction, and operational excellence amid challenging market conditions.