RattanIndia Enterprises (534597) Q2 24/25 earnings summary

Executive summary

• H1FY25 revenue from operations rose 31% YoY to Rs 4,027 Cr (₹32,687.13 million), driven by retail e-commerce and EV segments.

• H1FY25 PAT up 91% YoY to Rs 610 Cr (₹7,349.26 million), despite a Q2FY25 loss from notional/fair value changes.

• Q2FY25 revenue increased 12% YoY to Rs 1,801 Cr (₹18,006.18 million); Q2FY25 loss of Rs 242 Cr (₹2,415.90 million) due to Rs 268 Cr (₹2,681.18 million) notional loss on RattanIndia Power investment.

• Focus on technology-driven businesses: e-commerce, electric vehicles, fintech, and drones.

• Cocoblu achieved Rs 1,767 Cr revenue in Q2FY25, up 27% YoY, with 3.4 Cr orders served.

Financial highlights

• H1FY25 revenue: Rs 4,027 Cr (₹32,687.13 million) vs Rs 3,086 Cr (₹26,584.83 million) in H1FY24 (31% increase).

• H1FY25 PAT: Rs 610 Cr (₹7,349.26 million) vs Rs 319 Cr (₹3,709.37 million) in H1FY24 (91% increase).

• Q2FY25 revenue: Rs 1,801 Cr (₹18,006.18 million) vs Rs 1,615 Cr (₹14,717.00 million) in Q2FY24 (12% increase).

• Q2FY25 loss: Rs 242 Cr (₹2,415.90 million), mainly from Rs 268 Cr (₹2,681.18 million) notional loss on RattanIndia Power shares.

• H1FY25 EPS at ₹4.42 vs ₹2.31 in H1FY24; EBITDA and operating profit improved YoY.

Outlook and guidance

• Targeting multifold increase in Revolt dealerships by Mar'26 to meet growing EV demand.

• Ambition to maintain high growth rates in e-commerce and fintech segments.

• Management expects continued growth in e-commerce and EV businesses, with ongoing investments in group companies.