R R Kabel (RRKABEL) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever nine-month revenue in FY25, with 11.6% year-over-year growth and 9.1% year-over-year growth in Q3 FY25, despite macroeconomic challenges.

• Cable and wire segment showed moderate volume growth; FMEG segment delivered robust 25% revenue growth for the nine-month period and contributed 13% of Q3 FY25 revenue.

• Strategic initiatives include capacity expansion, high-margin product launches, and distribution network expansion.

• Robust domestic and export presence, with exports accounting for 27% of Q3 FY25 revenue.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024.

Financial highlights

• Q3 FY25 revenue reached ₹1,782.2 Cr, up 9.1% year-over-year; nine-month FY25 revenue was ₹5,400.4 Cr, up 12% year-over-year.

• Q3 FY25 EBITDA: ₹111.0 Cr (6.2% margin); PAT: ₹68.6 Cr (3.8% margin); nine-month PAT: ₹182.5 Cr (3.4% margin).

• Export revenues grew 11% YOY in Q3, contributing 27% of total revenue.

• EPS for Q3 FY25: ₹6.07; for nine months: ₹16.16.

• Net working capital days improved to 64 in Q3 FY25 from 75 in Q3 FY24.

Outlook and guidance

• Anticipates 15% volume growth in Q4 FY25, targeting 10%-12% volume growth for the full year.

• Expects wire and cable segment margin to reach 8% in Q4 FY25.

• Confident in achieving double-digit EBITDA margins at company level by FY28.

• FMEG segment expected to break even by Q1 FY26 and drive future growth through premiumization and expanded product portfolio.

• Management does not anticipate any material adverse impact from ongoing income tax search proceedings.