Rajratan Global Wire (517522) Q3 24/25 earnings summary

Executive summary

• Q3FY25 performance was mixed, with profit before tax down 50% year-over-year due to higher interest costs, depreciation, and pressure on realizations.

• Standalone revenues were nearly flat, down 0.3% year-over-year, while consolidated EBITDA declined 23% year-over-year.

• India sales volume increased 10% year-over-year, and the Chennai greenfield plant began phased production.

• The company retained market share and received increased customer approvals for the new Chennai plant.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved by the Board and reviewed by statutory auditors.

Financial highlights

• Consolidated revenue for Q3FY25 was ₹21,836 lakhs, down 6% year-over-year and from ₹24,533 lakhs in Q2 FY25.

• EBITDA for Q3FY25 was ₹2,625 lakhs, down 23% year-over-year; EBITDA margin was 12.02%.

• Profit after tax for Q3FY25 was ₹932 lakhs, down 53% year-over-year; PAT margin was 4.27%.

• Earnings per share for Q3FY25 was ₹1.84, down from ₹3.88 in Q3FY24.

• Standalone EBITDA margin for Q3FY25 was 13%, down from 18% in Q2FY25.

Outlook and guidance

• Management expects resilience and improved financials as the Chennai plant ramps up and customer approvals increase.

• The Chennai plant is expected to enhance capacity and operational efficiency as it ramps up production.